Many industry experts wonder if the crypto markets have hit their bottom and are set to recover, but Sam Bankman-Fried, the outspoken CEO and creator of large crypto exchange FTX, sees one catalyst having a significant impact on the current state of the market. Bankman-Fried sees crypto being tethered to the outlook for the macro environment in the coming months and feels that because “a lot of macro is being driven by moves in currencies, that’s going to move crypto prices against dollars.” According to the FTX CEO, regulatory operations by US authorities might have the “biggest impact” on the crypto-sphere in the current market, which would happen if we saw regulatory clarity, particularly in the US. If regulatory regimes are created to allow the industry to operate with clarity while protecting consumers, it would stand to benefit companies like WonderFi Technologies (TSX:WNDR) (OTCQB:WONDF), CleanSpark, Inc. (NASDAQ:CLSK), Riot Blockchain Inc. (NASDAQ:RIOT), Marathon Digital Holdings, Inc. (NASDAQ:MARA), and Mastercard (NYSE:MA).
WonderFi Technologies just announced that CEO Ben Samaroo and Strategic Investor Kevin O’Leary will be at this year’s W3BX Investor Summit and Expo at the Wynn Las Vegas from October 10-13.
W3BX will offer a unique experience by having networking events, one-on-one meetings, educational workshops, fireside chats, and Summit sessions daily. This four-day conference will have people from Fortune 500 companies, Venture Capitalists, Retail and Institutional Investors, Hedge Funds, Family Offices, and Blue-Chip NFT Collectors.
Ben Samaroo is the co-founder and CEO of WonderFi. On Tuesday, October 11th, between 9:40 and 10:20 a.m., he will participate in the TSX Panel discussion which will focus on: Using Canadian markets to fuel growth. The company’s CEO, that just got listed on the TSX, will talk about several things, such as Web3 trends, raising money from the public, and investor interest in Web3 public companies.
On Wednesday, October 12th, WonderFi Strategic Investor Kevin O’Leary will host two fireside chats. Mark Yusko of Morgan Creek Capital/Morgan Creek Digital will participate in the first fireside and Q&A, titled: From “You’re Dead to Me” to wearing orange shoes, Mr. Wonderful’s Crypto Journey, which starts at 9:00 a.m. At 11:00 a.m., Eryka Gemma of Timelock Ventures will host the second chat, which will be about the theme: It’s Time for Consumer Adoption: Practical Uses for Blockchain Technology.
Scott Melker, who Binance recently called the most important name in cryptocurrency, will join O’Leary and Samaroo on stage for the first time. The panel discussion will take place on October 12th at 12:30 p.m. and will be about What will drive the mass adoption of crypto and when grandmothers will be gifting Bitcoins instead of socks for Christmas.
“I’m very excited to share the stage with some of the sector’s biggest innovators as we hope to address today’s most relevant crypto matters and the future of blockchain-driven money,” says O’Leary. “This is a brand-new asset class with lots of volatility but also lots of potential. That’s why I’m involved and why everyone should get educated today.”
On September 29, Bitbuy Technologies Inc., a division of WonderFi Technologies announced a partnership with fintech platform developer AlpacaDB. The partnership allows Bitbuy to offer its users fractional trading and investing in thousands of US stocks and exchange traded funds (ETFs), in an integrated experience within the existing Bitbuy platform.
Bitbuy will use Alpaca’s Broker API to offer its consumers real-time fractional trading and quick settlement. Alpaca and brokerage services will be available for Bitbuy stock trading through a prominent Canadian investment bank and IIROC member. All customer accounts and trades will be routed, executed, cleared, and kept in custody by WonderFi‘s banking partner. Before the first quarter of 2023, when Bitbuy stock trading is anticipated to start online, an official launch date will be disclosed.
“Alpaca is always about opening financial services access globally, now with partners in more than 25 countries. This partnership with WonderFi accelerates our mission, and I am very excited that Alpaca’s infrastructure will support the service to people in Canada, where many of our employees reside,” said Yoshi Yokokawa, Co-Founder and CEO of Alpaca.
Crypto Miners Posts September Production
In September 2022, CleanSpark, Inc. (NASDAQ:CLSK) mined 448 bitcoins, up 13% from August 2022. So far this year, 3,090 bitcoins have been mined, totaling 594 as of September 30, an increase in HODL balance of 13%. In September, 380 BTC were converted in total for operations and growth, which is 2% less than in August 2022. Over 42,000 most recent generation bitcoin miners are currently operational, with a hashrate of 4.16 EH/s, up 21% from August 2022 and 316% from September 2021. CleanSpark sold 380 bitcoins in September 2022 at an average price of about $19,783 per BTC to support expansion and daily operations. BTC sales brought in about $7.5 million in revenue. Daily BTC mining in September peaked at 16.74.
Mastercard (NYSE:MA) has introduced Crypto Secure, a groundbreaking technological solution to increase security and confidence in the digital environment. Insights and technology from CipherTrace are combined with proprietary data in Crypto Secure to enable card issuers to comply with the intricate regulatory framework governing the digital asset market. Through the platform, they can better evaluate the risk profile of virtual asset service providers (VASPs), also known as cryptocurrency exchanges or other service providers, and choose which bitcoin purchases to approve. Issuers can readily recognize and reject transactions with cryptocurrency merchants likely to commit fraud instead of evaluating or using a one-size-fits-all strategy that might impede legitimate business.
Riot Blockchain Inc. (NASDAQ:RIOT) generated 355 BTC in September 2022, a reduction of around 13% from the September 2021 output of 406 BTC. The Company possessed roughly 6,775 BTC as of September 30, 2022, all of which were generated through the Company’s self-mining operations. Riot sold 300 BTC in September 2022, earning a net profit of around $6.1 million. The Company had a deployed fleet of 55,728 miners with a hash rate of 5.6 exahash per second (EH/s) as of September 30, 2022. Riot forecasts a total self-mining hash rate capacity of 12.5 EH/s in Q1 2023, assuming complete deployment of approximately 115,450 Antminer ASICs but ignoring any potential incremental productivity improvements from the Company’s use of 200 MW of immersion-cooling infrastructure. Most of the Company’s self-mining fleet will be the latest generation S19-series miners.
Marathon Digital Holdings, Inc. (NASDAQ:MARA) produced 360 BTC in September 2022, while 616 BTC were produced in the third quarter of 2022. Total Bitcoin holdings increased to 10,670 BTC, valued at $207.3 million. Year to date through September 30, 2022, the Company produced 2,582 BTC, a 23% increase over the same time as the previous year. Current operations and energization at King Mountain Wind Farm are proceeding as planned. Marathon Digital was able to leave the Hardin, MT facility on time, and all of the miners there have been sold or moved to other jobs. The money made from selling Hardin miners was about $47.5 million.
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