The SEC has put forward a 234-page proposal.
It was published in the Federal Register on October 6, under 91 FR 63870. It covers how funds and investment advisers can custody crypto assets on behalf of clients, and the comment period runs until December 7.
When I came across it this afternoon, I first counted the days: there are 57 days from today until December 7. Then I checked $CHIP , which is on today’s top gainers list: 231 million U in trading volume for the day, with 17.25 million U in open interest. Divide one by the other and you get 13.4—the money has gone around thirteen and a half times. On average, a new group of people takes over in less than two hours. The calculation kind of stunned me. I went back over it on my calculator, worried I’d misplaced a decimal point. Someone in the group was citing this proposal and saying institutions were about to enter the market. I didn’t say a word. Anyway, I got the math right this time: it takes 57 days to get through the rules in a 234-page proposal, while each group holds on for less than two hours. I’m watching to see which day its trading volume starts to fall.
What do you think—how many times has the money in your coin changed hands today, or has it not moved at all? If you don’t know how to work it out, drop the coin’s name and I’ll calculate them all tomorrow morning.
#数据视角 #CryptoRealTalk
It was published in the Federal Register on October 6, under 91 FR 63870. It covers how funds and investment advisers can custody crypto assets on behalf of clients, and the comment period runs until December 7.
When I came across it this afternoon, I first counted the days: there are 57 days from today until December 7. Then I checked $CHIP , which is on today’s top gainers list: 231 million U in trading volume for the day, with 17.25 million U in open interest. Divide one by the other and you get 13.4—the money has gone around thirteen and a half times. On average, a new group of people takes over in less than two hours. The calculation kind of stunned me. I went back over it on my calculator, worried I’d misplaced a decimal point. Someone in the group was citing this proposal and saying institutions were about to enter the market. I didn’t say a word. Anyway, I got the math right this time: it takes 57 days to get through the rules in a 234-page proposal, while each group holds on for less than two hours. I’m watching to see which day its trading volume starts to fall.
What do you think—how many times has the money in your coin changed hands today, or has it not moved at all? If you don’t know how to work it out, drop the coin’s name and I’ll calculate them all tomorrow morning.
#数据视角 #CryptoRealTalk