Adam here with some of the week’s biggest crypto stories. 

Bitcoin soared above $40,000 this week, and may go even further.

An improving macroeconomic backdrop going forward will be important, but crypto-specific factors have also driven the rally. 

US jobs data for November came in a little hot today, but if inflation meets estimates next week the risk-on mood is expected to stick around until January. 

The spot Bitcoin exchange-traded fund hype will likely ramp up as the deadline for Ark Invest’s application creeps up.

Altcoins are beginning to garner some attention from traders, both institutional and retail. Pro traders have shown a lot more interest in cryptocurrencies that are less liquid than Bitcoin and Ether, a sign of improving risk appetite. 

Have a great weekend,

Adam

The World Association of News Publishers has announced DL News’ Robert Holloway as winner of “Best Trust Initiative” category at the World Association of News Publishers’ Digital Media Awards Middle East 2023.

How a mysterious crypto exchange used an insider trading scam to swipe $3m from wealthy victims

The story is depressingly familiar. A woman reaches out by text, WhatsApp, or LinkedIn. She wants advice, or maybe she entered the wrong number, and starts a conversation. Eventually, she dupes targets into sending money, then disappears. Read Callan Quinn’s unsettling investigation into a complex crypto scam.

Bitcoin ETF’s 60% surge in Canada signals what’s coming in the US

Canada stamped itself as a pioneer when it approved the world’s first spot Bitcoin exchange traded fund — the Purpose Bitcoin ETF — back in February 2021. The market has exploded since and can be used as a proxy for what will follow in the massive US market.

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