Crypto Isn’t Always Exciting, Shorts Don’t Always Win

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Be honest: we’ve all loved watching the wild swings in meme stocks and alt coins. Some digital natives still try to sneak through their windows late at night, despite being punished by their regulators, for a little more action.

Not the old school banks and asset managers. For them, the new crypto frontier is much more pedestrian. As we explore this week, hot new areas for tradfi are digital asset custody and ETFs.

It might not get the pulse beating. But it may be a little easier to sell to the bosses these days than the full-fledged trading desks and in-house coins they explored five years ago as crypto burst into consciousness. dominant.

Shorts don’t always win

Short sellers have always been a much maligned group. So there will surely be a heavy dose of schadenfreude from certain corners of the market that have been burned recently on big tech stock bets.

Electric vehicle makers have had a tear in the past month. Investors betting against Tesla, Rivian and XPeng lost a combined $8 billion, according to data provider ORTEX.

Some electric vehicle makers have reported triple-digit stock price gains this year. Will the HODL shorts, or will FUD get the better of them?

Safety first

If the shorts failed in their march into the electric vehicle market, a group of 27 asset managers are hoping for a little more success in forcing tech companies to take the mental health of their customers seriously.

Investors have around $2 billion between them and will target streaming companies, gaming companies and smartphone makers. Addiction, increased stress levels, online safety and low self-esteem are just some of the concerns they have about how screen time affects young people.

Litz is reborn

The head of Citigroup’s fintech investment banking in Europe, Mark Litz, left the US bank in December. We were eagerly awaiting his return.

Japanese bank DC Advisory has now chosen him for its technology and software investment banking team in London, as another bank seeks to expand its fintech trading prowess against a tightening market.

And finally…

Do you know a fintech whiz who deserves recognition? If they work at an exchange, clearing house, trading firm, market consultant or data provider, you may want to nominate them for the top twenty most influential list in trading and technology. FinancialNews. Click here for all the details.

What we read

The next challengers joining Nvidia in the AI ​​chip revolution (The Wall Street Journal)

Revolut reportedly lost $20 million to thieves due to default (AltFi)

The job would use AI to help people find jobs, says Jonathan Ashworth (The Guardian)

ChatGPT reshapes crowdwork (Wired)

To contact the author of this story with comments or news, email Justin Cash

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