Weekly Roundup

FX Algo Trading: According to a survey by the Coalition Greenwich, 69% of responders believe that algo use in FX will increase and none of the responders believed there would be a decrease.

Private Fund Disclosures: The SEC and Commodity Futures Trading Commission (CFTC) proposed a rule to improve the quality of disclosures it receives from large hedge funds about their investment strategies and leverage. The rule, which is part of a broader regulatory effort to increase the transparency of private funds amid worries of systemic risk, would require large hedge funds to report their crypto exposure.

Crypto Losses: According to blockchain analysis firm Chainalysis, losses arising from cryptocurrency hacks jumped nearly 60% in the first seven months of 2022 to $1.9 billion, propelled by a surge in funds stolen from DeFi protocols.

Crypto Policy Symposium: A conference to analyze the cryptocurrency ecosystem will be taking place in London on September 6 and 7. Journalists, lawyers, policy makers, regulators, bankers, and technologists will come together to discuss policy recommendations, systemic risk, prevention of regulatory capture, and critiques covering cryptocurrencies, ICOs, NFTs, DeFi, “Web3,” and blockchains.

In the Mix: This Week’s Top FinTech Thought Leader

  • Steven Cohen, Founder of Point72, plans to launch a crypto asset management firm. Sources say the business plans to trade spot cryptocurrencies. The startup, which signals Cohen’s increased interest in digital assets, has not yet released its name.

  • Jemima Kelly, Financial Times Columnist, launched a new podcast series, “A Sceptic’s Guide to Crypto” as part of the FT’s “Tech Tonic.” The series explores whether crypto and its supporting technology have a future following a market crash.

  • Jaime Rogozinski, Founder of WallStreetBets, spoke with Bloomberg, saying he believes the recent resurgence in retail-trading favorites, such as Bed Bath and Beyond, will continue. The founder stated, “Summer vacation is over, everyone is back in school and that’s when the activity gets to kick back up.”

  • Alyse Killeen, Managing Partner, Stillmark VC, went on Bloomberg TV, joined by Emily Chang and Bloomberg’s Sonali Basak, to discuss the global institutional sentiment in crypto as the bear market takes hold. She shared why she thinks it is a crucial time for startups and the Bitcoin ecosystem to take stock, sound out customers, and engineer solutions to Bitcoin’s remaining challenges