Chart of the Week

The crypto space was hammered last week after the world’s 2^nd largest crypto exchange filed for bankruptcy, in just over a week the FTX empire evaporated shaking already damaged confidence in the crypto markets. Former boss Sam Bankman-Fried often referred to as the “King of Crypto” is now facing criminal probes as thousands of investors appear likely to have lost their money amid claims of hacking or more sinister motives from within – unregulated markets have repeatedly done this throughout history.

• We can see a decent bounce by the CRYP ETF but technicals alone are not enough for MM, we have little understanding of how to value these assets with any degree of certainty.