Daily Brief - 🌩️ Crypto institutions going bust

TLDR: Crypto institutions are going bust, as Buffet would say “when the tide goes down, you can see who’s swimming naked”. But there’s a future for crypto.

Silvergate has been a cornerstone in the crypto world.

An older bank, was founded in 1988 as a S&L association. In 2013 it pivoted to cryptocurrencies and became one of the largest operators in the field.

Following the failure of crypto exchanges and schemes like FTX, the bank has now decided to shut down and return deposits to customers.

The whole crypto infrastructure is crumbling so one should ask what will be left of crypto, once the dust settles?

Possibly something interesting.

The idea of smart contracts on the blockchain remains one of the key innovations of the last decades, likely to be reprised with enthusiasm once we get out of this market funk.

So we think you should add ETH to your watchlist. Buy when there’s blood in the streets, as the old-timers say.

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TOGGLE Leading Indicators: The TLI makes the first move … and it’s bullish

Ok, we’re in Limbo with most indicators in neutral gear. The TLI has just made the first move turning positive, and Valley and Phase Shift are edging closer too to a bullish indication.

• 🟦TLI
• ⬜ Rangefinder Index
• ⬜ Peak Probability Indicator
• ⬜ Trough Probability Indicator
• ⬜ Candle Breadth
• ⬜ Market Phase Shift Indicator

Learn more about the Leading Indicators in the Learn Center!

Upcoming Earnings: Wheaton Metals releases tomorrow

Click here to test what to expect when WPM releases earnings tomorrow.

Discover how other companies could react post earnings with the help of TOGGLE's WhatIF Earnings tool.

Asset Spotlight: No more staycations

TOGGLE analyzed 4 similar occasions in the past where volatility indicators for MGM Resorts reached a recent low and historically this led to a median decrease in the stock price over the following 3M. Check it out!

General Interest: Billionaires want to live forever (not just them)

Most of us wouldn’t mind living longer.

If you made your first billion, you might be thinking “yeah I can’t bring it with me in the grave, might as well spend some of it to get more life”

That’s what Sam Altman has been doing (and Musk and a few others before him). Sam put down $180M on Retro Sciences, a startup aiming to add 10 years to the average human lifespan.

Read more about it here on the MIT Tech Review.