Podcast and Chill #66
DCG's Dilemma; Bank Earnings Deep Dive; GBTC Leverage Death Rattle
Today’s Cheat Sheet -
Support and resistance levels and our daily, weekly and monthly bias on BTC, ETH, OIL, ES, and NQ as well as our favorite altcoins.
“Gemini has accused Digital Currency Group CEO Barry Silbert of fraud after allegedly misrepresenting the financials of his company. The accusations follow a dispute over the return of $900 million in assets owed to Gemini Earn’s users. Karim Dandashy, CFA and portfolio manager at XBTO Group, discusses everything about the ongoing drama between Genesis, its parent company DCG, and Gemini.”
“As big banks start to report their earnings, Jack turns to banking specialist Alex Gray for insight. Gray taps her prior experience both as a commercial banking underwriter and as a senior analyst of large cap banking stocks to glean insights from the fourth quarter reports of JPMorgan Chase & Co ($JPM)., Bank of America ($BAC), and Wells Fargo ($WFC). Gray navigates the delicate balance between loan growth and credit quality, evaluates the cumulative effect of the Federal Reserve’s rapid rate hikes on the profitability and balance sheets of the nation’s largest money centers. As disclosed in the interview, Alex Gray currently serves as the director of finance for Blockworks.”
“Bitcoin goes in four-year cycles based on halving, and I’m sure two years from now when everything is fine again, and prices go up again, people are going to get excited, they’re going to get greedy, and they’re going to pump things up on leverage. And I hope people remember this point in time and say, okay, stop, cut it out…leverage isn’t bad, over leverage is bad.” — Steven McClurg