Geopolitical kindling: Syria, Georgia and crypto

plus, December starts with cause for celebration

“May your choices reflect your hopes, not your fears.” – Nelson Mandela ||

Hello everyone! Welcome to December! It already feels like it’s ramping up to be a fitting conclusion for a pretty darn momentous year.

I should flag that publication will be choppy this month as there is a sprinkling of holidays – but I’m working on some deep dives on tokenized deposits, Japanese stablecoins and blockchain-based intraday repo that I’m looking forward to sharing with you. Plus, there’s been movement on Project Guardian and the ECB/EU trials, so updates are due.

Plus, some news! As of tonight, I join the Bits & Bips podcast as a regular host, along with Ram Ahluwalia and the regular team James Seyffart, Alex Kruger and Joe McCann. We record at US market close, and the episode drops shortly after.

Today’s newsletter is relatively short for a change as I’ve been travelling for the past few days – I was spending time with my father and sister in the UK, largely away from screens. My father is 93 and on the Alzheimer’s journey, which I sure many of you know is a struggle for all involved, but we’re so grateful he’s comfortable and content. ❤

I was, however, following the events in Syria and Georgia, which are relevant for crypto markets – more on this below.

IN THIS NEWSLETTER:

• December: Cause to celebrate

• Geopolitical kindling: Syria, Georgia and crypto

If you’re not a premium subscriber, I hope you’ll consider becoming one! You get ~daily commentary on markets, tokenization, regulation and other signs that crypto IS impacting the macro landscape. As well as audio, relevant links and music recommendations ‘cos why not.

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💫 EVENT:

Anyone in Madrid want to come along and learn more about crypto markets?

On Wednesday, I’m co-hosting a crypto education session, together with a handful of experts with deep experience in asset management and crypto’s legal aspects. We’re fortunate to have the participation of the CFA Society of Spain, as well as Bird & Bird, who are generously hosting the event at their offices on Paseo de la Castellana, 7 – December 4, 19h.

We’ll discuss the current state of crypto sentiment, the main investment drivers, market challenges, risks and outlook. The session will be in Spanish, with a professional investor focus.

Attendance is free, but capacity is limited, and there are only a few spaces left. You can sign up here.

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WHAT I’M WATCHING:

December: Cause to celebrate

November locked in an impressive month, and not just for crypto: the S&P 500 delivered its best monthly performance of the year, 5.7%, and its highest jump since, well, November 2023.

(S&P 500 chart via TradingView)

BTC, on the other hand, racked up a record monthly increase in dollar terms, with a jump of over $26,000. In percentage terms, its price climbed by an impressive 37%, which even more impressively is not its highest-ever gain – on many occasions in its chequered past, the asset has climbed by more than 40% in the space of 30 days.