In today’s briefing:
- 4Q22 Results: B-Sample Transition Inches Closer; Expansion in the Cards
- USDC’s Depeg Or: How I Learned to Stop Worrying and Trust the Bots
4Q22 Results: B-Sample Transition Inches Closer; Expansion in the Cards
- SES reported an operating loss of $20.7 million, $10.6 million higher than in 4Q21, primarily due to increased personnel and lab consumables to support the development of battery cells and AI software.
- General and administrative costs ($12.5 million) and R&D costs ($8.3 million) were the primary contributors to the operating loss.
- The company’s net loss was $9.2 million (-$0.03 per share) compared with $10.2 million (-$0.17 per share) in 4Q21.
USDC’s Depeg Or: How I Learned to Stop Worrying and Trust the Bots
- While the market seems to have shrugged it off, crypto – and DeFi in particular – survived an existential risk over the weekend.
- USDC was caught up in the turmoil that hit U.S. banks and depegged amidst fears it was no longer fully backed.
- We covered the reaction in centralized markets in the week’s Debrief, but given that USDC’s primary use case is in DeFi, this week we’ll examine how the depegging played out on-chain, examining trading, liquidity, and lending and borrowing, with a particular focus on the role that bots played.
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