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0:00 Intro 1:25 Bitcoin dominance has increased from 39.5% to 48.5% since the start of the year. 2:18 BTC drained from Exchages As First Republic Bank disintegrates, over $200M worth of Bitcoin was pulled from exchanges yesterday. 3:00 Top Assets YTD 4:05 DeFi protocol 0VIX was exploited via a flash loan attack that manipulated the price of an asset. The team has reached out to the hacker, but they remain silent. 4:45 L2 Retention Optimism and Arbitrum 5:50 AVAX has been removed from the K33 Vinter Quality index due to concerns about inflation and ownership concentration. 8:00 Solana Dex Volume back to Pre FTX Crash levels 8:55 Tesla has won the KBB 5 Year Cost to Own Award. 10:40 The Bank of England's chief economist has said that British households and businesses need to accept that they are poorer and stop seeking pay increases and pushing prices higher. 12:20 The US economy grew at a slower pace than expected in Q1 2023, raising concerns about stagflation. The Federal Reserve is expected to raise interest rates by 25bps at its next meeting on May 3. 14:00 What Stagflation Looks like 15:00 Sweden's retail sales fell by 13.4% in March, the most ever. 15:45 Debt is a response to productivity gains, which should be flowing to society in the form of lower prices. However, these productivity gains are instead being stolen and concentrated at the top through manipulation of money. 17:22 All Roads Lead to Bitcoin - Bitcoin offers a higher yield than savings and non-demand accounts. It is a more secure investment than fiat currencies. It is not subject to inflation. Deposits in savings and non-demand accounts have fallen by nearly $2 trillion since the start of 2022. 18:00 Impact of Rate Hikes 18:50 Alarm Bells: Federal Home Loan Banks (FHLBs) provide short-term loans to member banks. In Q1 2023, FHLB advances hit an all-time high of $1.04 trillion. 20:00 The failures of Silicon Valley Bank, Signature Bank, Credit Suisse, and First Republic are a sign of the stress still pervading the US banking system. 21:52 Russia is trying to reduce its reliance on the dollar, which could lead to a shift away from the dollar as the world's reserve currency. If the BRICS currencies gain in popularity, it could lead to a decline in the value of the dollar. 23:39 Gold is the only option for emerging central banks. 23:30 The 2024 halving event is just around the corner, with less than 53,000 bitcoin blocks left. Bitcoin's supply inelasticity reinforces its position as the only alternative to arbitrary, bureaucratic fiscal policy and never-ending debt monetization policies.
