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Global Business Week: Who services who in the Crypto custody business?

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WEEKLY BUSINESS ROUNDUP

The state of Financial markets & Economies, Weekly Charts, Business Trends & Statistics

Investors shrugged off the report showing that U.S inflation could rise 5% — its fastest rate since 2008. U.S stocks overcame earlier losses on Friday to pick up steam towards the close, with S&P 500 barely notching a new record high. The bigger story, however, was that Nasdaq continued to outperform, rising nearly 2% on the week, making it four straight weeks of gains for that index. U.S. Treasury yields had their worst week of declines in a year, which may have something to do with these new record highs we are finally seeing in the S&P 500.

Despite this optimism in stocks, money flows into stocks have slowed down significantly since their record highs earlier in the year. According to BofA Research, only $1.5 billion flowed into global equities in the past week, the lowest all year, while $12.5 billion flowed into bonds and $3.5 billion went into cash and money markets. And it seems that the rotation from growth and stay-at-home stocks to value seems to have reversed in the past few weeks, as tech benchmark index Nasdaq, continues to outperform the other two major indices.

On the forex front, the DXY Index managed to gain +0.42% over the past five days, its best weekly performance since the last week of April. But if the inflation does provide transitory and risk appetite in stocks continues to escalate, it might be difficult for the benchmark dollar index to hold onto gains. With the Federal Reserve’s June policy meeting this week, the US Dollar is very much in the crosshairs.

The U.S. Dollar Index has been quietly staging a trend reversal over the past two weeks. DXY has broken through the downward trendline and has since found support and made a short-term high after today’s trading. Closing the week at 90.51, it has a mixed bias heading through the middle of June.

Similar to U.S stocks, another interesting rotation seems to be playing out in Bitcoin, associated cryptocurrencies & the rising interest in Cybersecurity. A spate of cyberattacks, which were settled in digital ransom payments eventually may have chipped away at the trust investors had bestowed upon the digital assets. Especially, when it came to light that U.S investigators were able to recover most of the Bitcoin ransom paid to Colonial pipeline attackers. The extremely tight range bearish consolidation persists in Bitcoin, as it makes lower highs — trading close to $35k at the time of writing.

Today’s featured infographic from Blockdata features how the business of crypto custody solution works. Looking at the visual above, it shows what the complete custody business looks like at a high level. The companies listed in each section are not exhaustive and were selected to give us some examples. If you are interested in exploring more providers for a specific section, check out their custody solution providers page.

And finally, before moving on to some other statistics, here are the weekly & YTD numbers from various markets and different assets (Figure 1).

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://medium.com/technicity/global-business-week-who-services-who-in-the-crypto-custody-business-cdf6b4893cd7?source=rss——-8—————–cryptocurrency

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