Bullish On Crypto

In the olden days, when you bought a stock you would take possession of a physical certificate that verified your ownership. Thanks to online trading this is no longer necessary but many of these certificates do still exist.

Central Securities Depositories (CSDs) are tasked with the responsibility of safeguarding the ownership of stock certificates, physical or digital, so that they can be traded easily in an online platform or exchange. Lately, CSDs have been waking up to the growing trend of digital assets and are now taking a serious look at the industry.

This article from CoinDesk outlines the process that a rapidly growing group of CSDs are going through right now in a fight to stay relevant. Here's the key quote from one of their spokespeople...

As we've seen with the rise of the internet, those that refuse to innovate bear the risk of becoming disrupted. It is growing increasingly clear that the millennial generation is moving towards tokenized assets at a rapid pace. Perhaps one day soon, it will completely replace the way we buy, hold, and trade all financial assets.

Traditional Markets

The streets of Dong Dang were crowded with people bearing flags of Vietnam and North Korea as Kim Jong Un arrived, after a three-day train Journey and with a three-hour drive ahead. President Trump is on his way now in Air Force One and the two are expected to meet for the second time tomorrow afternoon. For better or for worse it's difficult to shake the feeling that we're witnessing history.

As the timetable for Brexit continues to bounce around, it seems that the other main geopolitical risks we've been tracking are fading. So, this afternoon, shortly after the opening bell on Wall Street, traders will tune in to hear Fed Chairman Jerome Powell addressing Congress.

The wide sweeping rally that we saw yesterday morning has faded by now and the markets will likely turn to the central banks for further guidance. However, the Fed will more likely do their best to remain neutral. They have no need or desire to shape the direction of the markets. For them, it's simply enough not to be blamed if/when things fall.

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Please note: All data, figures & graphs are valid as of February 26th. All trading carries risk. Only risk capital you can afford to lose.

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