July is coming to an end with a slight downturn for crypto assets, marking what could be the second red month for the asset class in 2023. Last week, marked by yet another 25 bps rate hike in the US by the Fed, the Nasdaq Crypto Index (NCI) fell 2.4% with bitcoin dropping 3.0% and ether down by 1.4%. As of writing, the NCI has returned 69.4% YTD.
Landmark crypto bill approved by US congressional committee
The US House Financial Services Committee approved digital asset oversight legislation that would clarify what is and isn’t a security, marking an important step toward regulatory clarity as Coinbase and major players face ongoing legal uncertainty from US regulators.
Amazon expands blockchain services, Google goes deeper on Web3
Amazon expanded its Amazon Managed Blockchain (AMB) services and Google Cloud is plotting more Web3-focused products, two signs of the increasing integration of crypto into traditional businesses.
Curve Finance hack exposes potential DeFi vulnerabilities
The exploit of the decentralized exchange involved smart contract vulnerabilities present in some of its liquidity pools. This is one example of smart contract risk, raising questions around the robustness of the DeFi protocol and fears of contagion in other decentralized applications. Loss of funds seems to be contained and white hat groups have publicly announced actions to safeguard part of the exploitable funds before hackers had access to them.
Orbs, Irises, and AI: An investor’s guide to understanding WorldCoin
Last week, a project called WorldCoin emerged as a unique intersection of artificial intelligence (AI) and crypto. The project’s goal is to create a reliable solution for distinguishing humans from AI on the internet while promoting universal access to the global economy. Our research team wrote an article on why it matters for crypto investors.
This material expresses Hashdex Asset Management Ltd. and its subsidiaries and affiliates (“Hashdex”)'s opinion for informational purposes only and does not consider the investment objectives, financial situation or individual needs of one or a particular group of investors. We recommend consulting specialized professionals for investment decisions. Investors are advised to carefully read the prospectus or regulations before investing their funds. The information and conclusions contained in this material may be changed at any time, without prior notice. Nothing contained herein constitutes an offer, solicitation or recommendation regarding any investment management product or service. This information is not directed at or intended for distribution to or use by any person or entity located in any jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation or which would subject Hashdex to any registration or licensing requirements within such jurisdiction. No part of this material may be (i) copied, photocopied or duplicated in any form by any means or (ii) redistributed without the prior written consent of Hashdex. By receiving or reviewing this material, you agree that this material is confidential intellectual property of Hashdex and that you will not directly or indirectly copy, modify, recast, publish or redistribute this material and the information therein, in whole or in part, or otherwise make any commercial use of this material without Hashdex’s prior written consent.
Investment in any investment vehicle and cryptoassets is highly speculative and is not intended as a complete investment program. It is designed only for sophisticated persons who can bear the economic risk of the loss of their entire investment and who have limited need for liquidity in their investment. There can be no assurance that the investment vehicles will achieve its investment objective or return any capital. No guarantee or representation is made that Hashdex’s investment strategy, including, without limitation, its business and investment objectives, diversification strategies or risk monitoring goals, will be successful, and investment results may vary substantially over time. Nothing herein is intended to imply that the Hashdex s investment methodology or that investing any of the protocols or tokens listed in the Information may be considered “conservative,” “safe,” “risk free,” or “risk averse.”
Certain information contained herein (including financial information) has been obtained from published and non-published sources. Such information has not been independently verified by Hashdex, and Hashdex does not assume responsibility for the accuracy of such information. Hashdex does not provide tax, accounting or legal advice. Certain information contained herein constitutes forward-looking statements, which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” “believe” (or the negatives thereof) or other variations thereof. Due to various risks and uncertainties, including those discussed above, actual events or results, the ultimate business or activities of Hashdex and its investment vehicles or the actual performance of Hashdex, its investment vehicles, or digital tokens may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward- looking statements in making their investment decisions. None of the information contained herein has been filed with the U.S. Securities and Exchange Commission or any other governmental or self-regulatory authority. No governmental authority has opined on the merits of Hashdex’s investment vehicles or the adequacy of the information contained herein