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Authored by Eugene Etsebeth via CoinDesk.com,

Eugéne Etsebeth is an ex-central banker who was employed as a technologist at the South African Reserve Bank from 2013 to 2017. During his time at the reserve bank, he notably chaired the virtual currency and distributed ledger working group.

 

In this opinion piece, Etsebeth outlines why he believes central banks won't be able to adapt to innovations in cryptocurrency, arguing they simply aren't set up to compete with sea changes in technology.

One month ago, Morgan Stanley's chief cross-asset strategist looked at the current state of the market - "the S&P 500, Russell 2000 and NASDAQ have hit all-time highs. Volatility has plunged back down near all-time lows. Credit is tighter and yields have been stable" - and asked "what rattles this market. What breaks the egg?"

His answer was five-fold, including valuations, inflation, geopolitics and China, but the biggest concern was what is coming in just one month on the US legislative docket:

Well, the "fake news" article that Jeff Gundlach has been quietly - and not so quietly - raging against for weeks on Twitter, is finally out.

Readers will recall that DoubleLine's Jeff Gundlach has been engaging in an odd subtweeting campaign on Twitter over the past month with what until recently had been an unnamed media outlet that was allegedly being used by a similarly unnamed Doubleline competitor to accuse Gundlach's fund of doing poorly and suffering outflows, something the "bond king" has said is "false news" to borrow a Trumpism...

Australian Government Is Cracking Down On The Nonexistent Bitcoin Money-Laundering Epidemic

Australia’s largest banks can’t seem to go six months without a new scandal. In April, regulators accused Commonwealth Bank, one of the country’s largest financial institutions, of “systemic” money laundering violations, sparking an investigation into the broader banking sector, and the promise of heavy-handing civil penalties.

Via Dana Lyons' Tumblr,

A key broad market gauge is potentially breaking a major line of support.