OSL Daily Update - November 17, 2020 

$BTC 24 Hour High $16,816.18
$BTC 24 Hour Low $15,880.71
$BTC +5.3%

The news that everyone has been waiting for has hit and seemingly, this time around, sticking - with Moderna Therapeutics reporting effective rates on its COVID vaccine at 94.5%. Equity markets responded with a wave of green -  S&P and DOW both reaching ATHs. 

Digital assets market:

  • The overall crypto market cap sits at 472B and going up, with $BTC maintaining its healthy dominance of the market at 65.3%
  • $BTC stares down 17K during US trading hours, but could not quite reach the next 1000 barrier having found renewed footing in the mid to high 16Ks
  • Of the main large caps, seeing only $XRP and $LTC gained on $BTC pairs 
  • $ETH up 5% overnight to the mid 460s
  • $LTC up 19% overnight, eclipsing 75 levels

More traditional players are making moves to embrace digital assets.  The latest, SkyBridge Capital filed with the SEC its desire to have the firm's investments gain exposure into digital assets.  Hopefully these crypto investments can hold their position a little longer than founder Anthony Scaramucci’s stint at the White House. But a welcomed sentiment nonetheless.

Regulatory news:

  • Speaking Monday at the V20 Virtual Asset Service Providers Summit, Carole House, cyber and emerging tech policy specialist at the Financial Crimes Enforcement Network (FinCEN), said criminals are conducting cross-border payments using smaller amounts of cryptocurrency – hence FinCEN’s proposed lowering of the “Travel Rule” threshold.
  • According to the rule change proposal submitted last month, FinCEN and the Federal Reserve would modify the thresholds at which banks must collect and store fund transfer information, reducing it from $3,000 to $250 for any transfers – in crypto or fiat – that go outside the U.S.


OSL Trader View and Weekend Digest are contributed by Stefan Chu, SJ Oh, and Santiago Nazaretti



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