Quote To Start The Day: We’re really trying to encourage progress, not to force it.
Source: Adena Friedman
One Big Thing In Fintech: Massachusetts Mutual Life Insurance Co. is jumping into the institutional bitcoin game with a $100 million investment in bitcoin and a $5 million equity stake in NYDIG.
Source: Coindesk
Other Key Fintech Developments:
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Tink valued over $800M after round.
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JPM finishes blockchain-based repo.
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Cleo taps $44M for money manager.
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Sigma releases API to detect crimes.
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Solactive raised $60M in new round.
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Embroker launching insurance tech.
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Governments look to Citi over crypto.
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DBS plans a digital exchange launch.
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Fidelity will hold bitcoin as collateral.
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Upvest scores funding for new APIs.
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Curv launches institutional DeFi tech.
Watch Out For This: What the US Food and Drug Administration says is in Pfizer’s vaccine:
Active Ingredient
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nucleoside-modified messenger RNA (modRNA) encoding the viral spike glycoprotein (S) of SARS-CoV-2
Lipids
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(4-hydroxybutyl)azanediyl)bis(hexane-6,1-diyl)bis (ALC-3015)
-
(2- hexyldecanoate),2-[(polyethylene glycol)-2000]-N,N-ditetradecylacetamide (ALC-0159)
-
1,2-distearoyl-snglycero-3-phosphocholine (DPSC)
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cholesterol
Salts
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potassium chloride
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monobasic potassium phosphate
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sodium chloride
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basic sodium phosphate dihydrate
Other
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sucrose
Source: MIT
Interesting Reads:
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The SPAC pop gains more traction.
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EU, UK to go the extra mile in talks.
-
Bitcoin price dislocations unpacked.
-
Direct-to-consumer growth secrets.
-
300 schoolboys missing after attack.
-
What is wrong with the Cyber Truck?
-
Hyundai to control Boston Dynamics.
-
American Air to offer COVID testing.
-
US sues Facebook and gets a reply.
Market Moving Headline: During last week’s trade, U.S. index futures auctioned to new all-time highs, before moving back into balance.
Key Takeaways:
- Positioning points to further volatility.
- Macro-, technical-landscape is still bullish.
Given that the higher-time frame breakout remains intact, the following frameworks for next week’s trade apply.
In the best case, buyers surface at the $3,654.75 low-volume node and extend range up to the high-volume node at $3,667.75. High-volume areas denote value and should slow prices allowing participants enough time to enter and exit trades. An initiative drive through this area would portend a test of the $3,690.75 high-volume node, and then the prior all-time rally high.
In the worst case, if the S&P 500 auctions below $3,630.00, participants would look to repair the poor structure just shy of $3,625.00. Finding acceptance (i.e., spending more than one half-hour of regular trade) below Friday’s range would be the most negative outcome.