As we begin the 4th week of 2023, there are several things to keep an eye on in the world of finance and economics. Here are 9 things I watch as the CEO of Cake DeFi:

  1. First of all, if you are celebrating: Happy Chinese New Year!
  2. This week marks the start of the Chinese New Year celebrations, which may lead to a calm week in Asia and people all over the world celebrating CNY.
  3. Crypto Pump – Be careful about it – We saw a massive pump in the market the last week and all through January. So be cautious as these pumps can be short-lived.
  4. The World Economic Forum was held this week, but it may not have brought much actual value to the table. Covid-19 was not discussed much anymore. The focus was mostly on how central banks can bring down inflation without triggering a global recession. Many companies’ CEOs were there and they shared their pessimism for 2023. As expected, the event drew lots of criticism and it was one of the reasons (among wanting to spend time with family and focus on work!) I didn’t go myself.
  5. Genesis went into Chapter 11 bankruptcy and there’s a talk of a potential DCG (Digital Currency Group) bankruptcy as well. This could drag Grayscale and GBTC down with it.
  6. Silvergate new systemic risk: Silvergate Bank has had lots of issues over the past months and has now imposed a $100,000 limit on its transfers. Considering, it is an essential bank to many crypto companies and stablecoin accounts, it is raising concerns about a systemic risk.
  7. Check out our latest vlog with behind the scenes of the new year and plans for the new year.
  8. No Macro Updates/Numbers this week. The FED meeting is next week, but not much is expected other than a 25bps hike.
  9. After a bit over 1 month in Europe to visit family over Xmas and New Year, I am using the CNY holidays to travel back to Singapore with the entire family. 3 kids under 2 years on a 13h flight… wish me luck.

Hope this is of value to you.

Have a week full of great decision-making and meaningful relationships.