This week saw a number of bearish updates across several macro indicators, including declining federal tax receipts and retail sales, as well as signs of ongoing stress in commercial real estate. The regulatory backdrop was more mixed, as the week’s most attention-grabbing political headline – Robert F. Kennedy, Jr’s plan to partially back US Treasuries with bitcoin and eliminate capital gains taxes on bitcoin if elected President – was partially offset by news that regulators in Kuwait have banned bitcoin payments, mining, and associated services, apparently at the behest of the FATF. Ten31 Managing Partner Marty Bent
Ten31 Timestamp 800,060
Ten31 Timestamp 800,060
Ten31 Timestamp 800,060
This week saw a number of bearish updates across several macro indicators, including declining federal tax receipts and retail sales, as well as signs of ongoing stress in commercial real estate. The regulatory backdrop was more mixed, as the week’s most attention-grabbing political headline – Robert F. Kennedy, Jr’s plan to partially back US Treasuries with bitcoin and eliminate capital gains taxes on bitcoin if elected President – was partially offset by news that regulators in Kuwait have banned bitcoin payments, mining, and associated services, apparently at the behest of the FATF. Ten31 Managing Partner Marty Bent