DAILY DOSE: December 5, 2022

Posted on 12/05/2022

1. On December 3, 2022, Brian Armstrong of Coinbase tweets, “I don’t care how messy your accounting is (or how rich you are) – you’re definitely going to notice if you find an extra $8B to spend.

Even the most gullible person should not believe Sam’s claim that this was an accounting error.”

2. Australian cryptocurrency exchange Swyftx laid off 35% of employees. The firm let go 90 of 259 employees.

3. Folketrygdfondet manages the Government Pension Fund Norway among other funds. Folketrygdfondet disclosed they are closing the Government Bond Fund (GBF) which was re-introduced during the COVID-19 pandemic. The Norwegian government tasked Folketrygdfondet with reprising the GBF with capital of 50 billion NOK as a crisis measure. Folketrygdfondet expects the Government Bond Fund will be liquidated by the end of 2025.

4. Commodities trader Trafigura Group is nearing a deal on a German government-backed loan for gas supplies. The loan of roughly US$ 3 billion to US$ 4 billion would be tied to Trafigura supplying Germany with liquefied natural gas (LNG).

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