Founder, Shrimpy

Michael McCarty

Founder

Shrimpy

Shrimpy develops the most advanced APIs for crypto exchange management, trade execution, and real-time data collection.

Develops the Most Advanced APIs

Crypto

Welcome to the 14th edition of Shrimpy’s weekly newsletter, a place for staying up to date on the latest trends, news, and events in the cryptocurrency industry. Digital assets evolve and move faster compared to any other market. For those who do not have time to constantly scroll Crypto Twitter, we wrote a special weekly update covering everything major that happened this week.

Welcome to the 14th edition of Shrimpy’s weekly newsletter, a place for staying up to date on the latest trends, news, and events in the cryptocurrency industry. Digital assets evolve and move faster compared to any other market. For those who do not have time to constantly scroll Crypto Twitter, we wrote a special weekly update covering everything major that happened this week.

2021 Is Back on Track for Being the Year of CBDCs

Alpha-Centric ESG Research

Kyle Rudden

More and more, companies are using cryptocurrency (especially Bitcoin) as part of their corporate treasury management strategies, discussed in <a href="https://www.smartkarma.com/insights/bitcoin-on-balance-sheets-indirect-crypto-exposure-considerations-for-crypto-leery-esg-investors" target="_blank" data-smartkarma-citation="insights:52207" rel="noopener">Bitcoin on Balance Sheets: Indirect Crypto Exposure Considerations for Crypto-Leery ESG Investors</a>. That trend is behind the topic of this report.Greater mainstream corporate and institutional use of Bitcoin is driving the growth in demand for cryptocurrency custody services, and banks around the world are rushing to fill that demand. It is a logical and relatively safe foray into the cryptocurrency space, albeit not without some risk.For ESG investors wishing to avoid direct or indirect cryptocurrency exposure, perhaps due to their views on crypto's wretched Environmental footprint, the banks herein will have significant indirect crypto exposure. However, I personally find it hard to be categorically bearish on this theme.Whilst the theme in the first Insight (holding Bitcoin on balance sheets) represents real risk, this is different. It could be argued that crypto custody perpetuates <a href="https://www.smartkarma.com/entities/bitcoin-usd" target="_blank" data-smartkarma-citation="entities:25895:1" rel="noopener">Bitcoin (XBT)</a>'s climate impacts, thus is a bad thing. Perhaps, from a purely idealistic ESG viewpoint, that is partially true.However, the connection from custody service to carbon emissions is so far removed, and the risks associated with entering the crypto custody space are so comparatively minimal, that the opinion on this theme should be "neutral" at worst, and definitely not across-the-board "negative."But really, that is for each investor to decide, because the crypto/ESG issue is highly subjective.

More and more, companies are using cryptocurrency (especially Bitcoin) as part of their corporate treasury management strategies, discussed in Bitcoin on Balance Sheets: Indirect Crypto Exposure Considerations for Crypto-Leery ESG Investors. That trend is behind the topic of this report.Greater mainstream corporate and institutional use of Bitcoin is driving the growth in demand for cryptocurrency custody services, and banks around the world are rushing to fill that demand. It is a logical and relatively safe foray into the cryptocurrency space, albeit not without some risk.For ESG investors wishing to avoid direct or indirect cryptocurrency exposure, perhaps due to their views on crypto's wretched Environmental footprint, the banks herein will have significant indirect crypto exposure. However, I personally find it hard to be categorically bearish on this theme.Whilst the theme in the first Insight (holding Bitcoin on balance sheets) represents real risk, this is different. It could be argued that crypto custody perpetuates Bitcoin (XBT)'s climate impacts, thus is a bad thing. Perhaps, from a purely idealistic ESG viewpoint, that is partially true.However, the connection from custody service to carbon emissions is so far removed, and the risks associated with entering the crypto custody space are so comparatively minimal, that the opinion on this theme should be "neutral" at worst, and definitely not across-the-board "negative."But really, that is for each investor to decide, because the crypto/ESG issue is highly subjective.

Banks on the Bitcoin Bandwagon: Cashing in Through Crypto Custody Services

This Insight is about a trainwreck, the head-on collision of two megatrends in investing: ESG, and cryptocurrencies. "Trainwreck," because the raging cryptocurrency/ESG debate has spiraled out of control and made absolute lunatics out of everyone, environmentalists and crypto-zealots alike.Cryptocurrency's environmental impact is not a recent epiphany. Back in 2009, Hal Finney (creator of Bitcoin's proof-of-work system, and even rumored to be the elusive Satoshi Nakamoto) tweeted, "Thinking about how to reduce CO2 emissions from widespread Bitcoin implementation."Prescient, but it didn't elicit a reaction because in 2009 few investors had even heard of Bitcoin and ESG. In 2021, however, Elon Musk's words are able to spark a firestorm because Bitcoin and ESG are now deeply ingrained in the collective investor psyche, and the zeitgeist.And Elon Musk's words sure did spark a firestorm.With this report, I hope to provide what is entirely absent in that firestorm – i.e., a comprehensive, rational, and balanced view of the multifaceted cryptocurrency/ESG relationships. Environmental, Social, and Governance. Including some issues that no one is talking about, but should be.

This Insight is about a trainwreck, the head-on collision of two megatrends in investing: ESG, and cryptocurrencies. "Trainwreck," because the raging cryptocurrency/ESG debate has spiraled out of control and made absolute lunatics out of everyone, environmentalists and crypto-zealots alike.Cryptocurrency's environmental impact is not a recent epiphany. Back in 2009, Hal Finney (creator of Bitcoin's proof-of-work system, and even rumored to be the elusive Satoshi Nakamoto) tweeted, "Thinking about how to reduce CO2 emissions from widespread Bitcoin implementation."Prescient, but it didn't elicit a reaction because in 2009 few investors had even heard of Bitcoin and ESG. In 2021, however, Elon Musk's words are able to spark a firestorm because Bitcoin and ESG are now deeply ingrained in the collective investor psyche, and the zeitgeist.And Elon Musk's words sure did spark a firestorm.With this report, I hope to provide what is entirely absent in that firestorm – i.e., a comprehensive, rational, and balanced view of the multifaceted cryptocurrency/ESG relationships. Environmental, Social, and Governance. Including some issues that no one is talking about, but should be.

ESG and Bitcoin: The Truth Lies Somewhere Between Benign and Boiling Off Oceans

Managing Director

Elan Gore

TMI Data Science

TMI Data Science utilizes Natural Language Processing to build custom leading indicators using unstructured data sourced from the global financial, trade & traditional media.  Our proprietary software, TMI Machine, is a text-mining platform designed with the buy-side & capital markets professional in mind, text-mining the global media to discern and quantify nuanced qualitative shifts in press coverage as they apply to macroeconomics, equity indexes/ETFs, commodities, currencies, fixed income & individual equities.  TMI provides custom leading indicators and systematic trading strategies, operating at the nexus of linguistics & statistics drawing on vast experience in investment banking and hedge fund settings in senior quantitative and fundamental roles.  

TMI Data Science was founded by Elan Gore, an award-winning Senior Global Basic Materials Equity Analyst & China Economist with 15 years of experience in North American hedge funds & institutional managers; and Alessandro Porrino, Ph.D., an Algorithmic Trading Analyst and Programmer with 10 years of front-office experience ranging from complex FX option pricing to auto-hedging strategies at Bank of America Merrill Lynch and Standard Chartered.  Mr. Gore holds an MBA in Finance from New York University Stern School of Business, and Mr. Porrino holds a Ph.D. in Systems Engineering from Brunel University London.

Cross Asset Strategy

<ul>
<li>While high volatility and the magic of Twitter may break cryptocurrency media coverage trends faster than they are identified, the exponentially growing volume of content on the topic has made text mining an increasingly robust tool to help quantify key themes in the space</li>
<li>Despite recent volatility, our data suggests sentiment on cryptocurrency institutional adoption continues to trend positively</li>
<li>We saw a +6x STDEV increase in coverage of ESG aspects of crypto and a +4x STDEV increase in coverage of crypto regulatory topics following the Elon Musk tweets of May 12-13 and China's crackdown; frequency of coverage of these topics has become the most dominant factor at -80% correlation with BTC recently </li>
<li>After surging in April on new ETF launches in Canada, sentiment on cryptocurrency ETFs/ETPs turned negative following "market disruption" warnings issued by Canadian ETF managers during last week's selloff</li>
<li>Sentiment on the cryptocurrency-as-store-of-value narrative took a dive in recent weeks, after hitting record high in April; nonetheless, the less-reliable defensive factors (store of value/inflation hedge) have been losing momentum in media coverage for some time, while a refocused view of cryptocurrency as a speculative vehicle is trending to new highs at +5x STDEVs</li>
<li>Though unadjusted sentiment data is extremely volatile, our daily tracking of Elon Musk coverage in a crypto context is back to a neutral reading for the first time since 5/12, having bottomed at -1.5x STDEVs earlier in the month</li>
<li>Net-net, while the data highlights elevated regulatory and ESG concerns, institutional adoption is likely to continue amid optimism around innovative carbon footprint reduction solutions for BTC; a reframing of the narrative away from defensive notions of "digital gold" would be a healthy development, and appears to be already underway</li>
</ul><div class="content-highlight">TMI Data Science utilizes Natural Language Processing to build custom leading indicators using unstructured data sourced from the global financial, trade &amp; traditional media. Our proprietary tools text-mine the global media to discern and quantify nuanced qualitative shifts in press coverage as they apply to macroeconomics, equity indexes/ETFs, commodities, currencies, fixed income &amp; individual equities.</div>


While high volatility and the magic of Twitter may break cryptocurrency media coverage trends faster than they are identified, the exponentially growing volume of content on the topic has made text mining an increasingly robust tool to help quantify key themes in the space
Despite recent volatility, our data suggests sentiment on cryptocurrency institutional adoption continues to trend positively
We saw a +6x STDEV increase in coverage of ESG aspects of crypto and a +4x STDEV increase in coverage of crypto regulatory topics following the Elon Musk tweets of May 12-13 and China's crackdown; frequency of coverage of these topics has become the most dominant factor at -80% correlation with BTC recently 
After surging in April on new ETF launches in Canada, sentiment on cryptocurrency ETFs/ETPs turned negative following "market disruption" warnings issued by Canadian ETF managers during last week's selloff
Sentiment on the cryptocurrency-as-store-of-value narrative took a dive in recent weeks, after hitting record high in April; nonetheless, the less-reliable defensive factors (store of value/inflation hedge) have been losing momentum in media coverage for some time, while a refocused view of cryptocurrency as a speculative vehicle is trending to new highs at +5x STDEVs
Though unadjusted sentiment data is extremely volatile, our daily tracking of Elon Musk coverage in a crypto context is back to a neutral reading for the first time since 5/12, having bottomed at -1.5x STDEVs earlier in the month
Net-net, while the data highlights elevated regulatory and ESG concerns, institutional adoption is likely to continue amid optimism around innovative carbon footprint reduction solutions for BTC; a reframing of the narrative away from defensive notions of "digital gold" would be a healthy development, and appears to be already underway
TMI Data Science utilizes Natural Language Processing to build custom leading indicators using unstructured data sourced from the global financial, trade &amp; traditional media. Our proprietary tools text-mine the global media to discern and quantify nuanced qualitative shifts in press coverage as they apply to macroeconomics, equity indexes/ETFs, commodities, currencies, fixed income &amp; individual equities.

TMI Snapshot:  Recent Crypto Media Coverage & Sentiment Trends Through the Lens of Text Mining

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Forensic Accounting

<ul>
<li>2024 witnessed an unprecedented rise in financial crimes, including an 8x surge in Indian banking fraud, massive cryptocurrency heists, and large-scale corporate fraud like Evergrande's $78 billion scandal.</li>
<li>These scams exposed vulnerabilities in technology, governance, and public awareness, underscoring the urgent need for robust regulatory frameworks, enhanced corporate accountability, and public education.</li>
<li>The evolving sophistication of financial crimes highlights the necessity for vigilance, technological resilience, and proactive measures by individuals, businesses, and governments to mitigate risks in an interconnected world.</li>
</ul>


2024 witnessed an unprecedented rise in financial crimes, including an 8x surge in Indian banking fraud, massive cryptocurrency heists, and large-scale corporate fraud like Evergrande's $78 billion scandal.
These scams exposed vulnerabilities in technology, governance, and public awareness, underscoring the urgent need for robust regulatory frameworks, enhanced corporate accountability, and public education.
The evolving sophistication of financial crimes highlights the necessity for vigilance, technological resilience, and proactive measures by individuals, businesses, and governments to mitigate risks in an interconnected world.


Scams of 2024: From Digital Frauds to Corporate Collapses

United States

Ethereum is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality. It provides a decentralized Turing-complete virtual machine, the Ethereum Virtual Machine (EVM), which can execute scripts using an international network of public nodes. Ethereum also provides a cryptocurrency token called "ether", which can be transferred between accounts and used to compensate participant nodes for computations performed. "Gas", an internal transaction pricing mechanism, is used to mitigate spam and allocate resources on the network.

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Ethereum (XETUSD CURNCY)

2021 Is Back on Track for Being the Year of CBDCs

Welcome to the 14th edition of Shrimpy’s weekly newsletter, a place for staying up to date on the latest trends, news, and events in the...

Michael McCarty

Banks on the Bitcoin Bandwagon: Cashing in Through Crypto Custody Services

Bitcoin holdings by issuers and investors is driving crypto custody demand. Big banks are stepping. A big opportunity, but some ESG investors might...

Kyle Rudden

ESG and Bitcoin: The Truth Lies Somewhere Between Benign and Boiling Off Oceans

Elon sparked a firestorm over Bitcoin's climate impacts. Problem is, it's all "greenwashing" by crypto-zealots or "brownwashing" by...

Kyle Rudden

TMI Snapshot: Recent Crypto Media Coverage & Sentiment Trends Through the Lens of Text Mining

We text-mine media coverage of cryptocurrencies to quantify key sub-themes; institutional adoption sentiment has remained positive throughout the...

Elan Gore

Scams of 2024: From Digital Frauds to Corporate Collapses

Financial crimes surged in 2024, exposing vulnerabilities in technology and governance, emphasizing the need for robust regulations, corporate...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

2021 Is Back on Track for Being the Year of CBDCs

Welcome to the 14th edition of Shrimpy’s weekly newsletter, a place for staying up to date on the latest trends, news, and events in the...

Michael McCarty

Banks on the Bitcoin Bandwagon: Cashing in Through Crypto Custody Services

Bitcoin holdings by issuers and investors is driving crypto custody demand. Big banks are stepping. A big opportunity, but some ESG investors might...

Kyle Rudden

ESG and Bitcoin: The Truth Lies Somewhere Between Benign and Boiling Off Oceans

Elon sparked a firestorm over Bitcoin's climate impacts. Problem is, it's all "greenwashing" by crypto-zealots or "brownwashing" by...

Kyle Rudden

TMI Snapshot: Recent Crypto Media Coverage & Sentiment Trends Through the Lens of Text Mining

We text-mine media coverage of cryptocurrencies to quantify key sub-themes; institutional adoption sentiment has remained positive throughout the...

Elan Gore

Scams of 2024: From Digital Frauds to Corporate Collapses

​Financial crimes surged in 2024, exposing vulnerabilities in technology and governance, emphasizing the need for robust regulations, corporate...

Nimish Maheshwari

Financial crimes surged in 2024, exposing vulnerabilities in technology and governance, emphasizing the need for robust regulations, corporate...