Trakx Digital Assets Newsletter

Newsletters Dec 19, 2022

Weekly News for Institutional Investors

Key Crypto Market Figures

Crypto Tradable Indices (CTIs) Weekly Performance

Weakness returned to crypto markets last week due a confluence of negative events. FTX remained in the spotlight following the arrest of Sam Bankman-Fried, which precluded him from testifying before the US Congress, but attention quickly shifted towards Binance. Their recent Proof-of-Reserves audit by Mazars turned out not to be a full independent audit but a partial one based on “agreed-upon procedures” with Binance. Needless to say in such febrile markets, this did not sit well with crypto investors and the exchange suffered $6bn in net withdrawals. Indeed, on Friday Mazars announced it was pausing all work for crypto firms, as did another audit firm Armanino. These developments weighed heavily on the BNB token. It suffered a double digit percentage point fall, which dragged the Top 10 Crypto Index down by 7% on the week. However, the most significant losses were seen in the NFT and ESG Crypto Indices, down 16% and 11% respectively. The former occurred despite Donald Trump releasing his first NFT digital card trading collection, which quickly sold out.

Sources: Coingecko and AlphaVantage

  • Binance Proof-of-Reserves Auditor Mazars Pauses All Work for Crypto Clients: Coindesk
  • FTX, Nexo Auditor Armanino To Quit Crypto After 8 Years: Blockworks
  • Donald Trump NFT Collection Sells Out, Price Surges: Coindesk
  • Total crypto market cap takes another hit, but traders remain neutral: Cointelegraph
  • France Mulls Full-Licensing Regime for Crypto Firms Citing FTX Bankruptcy: Decrypt
  • Bitcoin and Ethereum gave back their gains, but has anything actually changed? Cointelegraph
  • FTX founder Sam Bankman-Fried accused of ‘massive, years long’ conspiracy to defraud investors: Telegraph

Trakx News

Trakx CTIs Performance

Sources: Coingecko and AlphaVantage

*Return of bitcoin is calculated since 01/05/2020, while CTIs performances were calculated since their respective launch date.
**Includes simulated performance.
***The risk signal is determined according to the historical volatility level, the higher the riskier.

Trakx is a global fintech company creating new standards for digital asset investments. Through our trading platform, we offer thematic Crypto Tradable Indices (CTIs) and customised solutions, providing sophisticated investors a high degree of compliance, custody and liquidity. Trakx is registered with the French regulator (AMF).

Disclaimers: No Investment Advice. Index returns and statistics are for illustration only. Index returns do not reflect any transaction costs or expenses. Past performance does not guarantee future results. The information provided in this newsletter does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the newsletter content as such. Trakx.io does not recommend that any cryptocurrency should be bought, sold, or held by you. Readers shall conduct their own due diligence and consult their financial advisors before making any investment decisions.

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Caroline Jacquard

Seasoned marketing manager with 15+ years of experience in the financial industry: traditional finance, alternative investment and digital assets. Advisor @trakx.io