Autonomy🪬: Fintech and Tech, Rocking the Boat

🌞Good morning Guardians🌞

Friday is upon us and we’re wrapping up a great week for US markets. Here’s what the research team is sharing this AM:

Markets 💹

Positive GDP growth numbers relaxed investor fears of a deep recession.

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The Nasdaq is on pace for its best month since July.

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Short Sellers: The notorious short-selling Hedge Fund, Hindenburg Research announced the largest corporate fraud in history in billionaire Guatam Adani’s empire. Shares across his network of companies are down over 20% and represent a 12 billion USD sell-off. (BBG)

Autonomous Note🧿: Check the Telegram comments section for a full breakdown on short-sellers and why they exist, what purpose they serve etc.

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Tech Business 💼🦾

German software company SAP is exploring a sale of its 71% stake in software firm Qualtrics, which has a current $8.8B market cap (BBG)

Fintech giant Stripe hired Goldman Sachs and JPMorgan to advise on a direct listing or secondary offering that they will decide on within the next year (CNBC)

Autonomous Note🧿: Definition of direct listings in the comments. Direct listing have become a viable option vs a clunky IPO for companies who want to raise capital via public markets. Makes sense for tech-darling Stripe.

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Digital Assets

Amazon is planning an NFT initiative (BW)

Autonomous Note🧿: Meh, we’ll see. I presume the application will be more on the Twitch side of things than Amazon Prime, but gamers are highly skeptical of crypto-product at this phase following legions of frauds and shitcoins sold their way.

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Dutch central bank fined Coinbase $3.6M for failing to obtain correct registration (RT)

Autonomous Note🧿: With only two major exchanges holding up the industry (Binance and Coinbase) I am skeptical of both. Any indication of poor practices or unwanted exposure makes me concerned. I bought my family cold-wallets to remove any crypto off exchanges until the duopoly and turbulence settles.

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The Block made a great video on how to protect your identity in Web3. Check it out

https://youtu.be/O-8ut34b7UQ

Meme Digestif☕️

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