Crypto Dads’ April Trade Results and Round Up

April Punch

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EL Salvador turned to deep-pocketed crypto whales after its Bitcoin-backed bond was rejected by big international investors. This Financial Times piece says, “Paolo Ardoino, chief technology officer at Bitfinex — which is set to provide the tech platform for the deal — said the crypto exchange has received “half a billion dollars” of interest from its users. Important details of the bond would need to be ironed out, requiring the passing of new securities laws in El Salvador, before potential buyers firmed up their interest, he added.”

Coinbase messed up in India. They made a big-bang announcement about their new feature: a UPI (Unified Payments Interface) option for buying crypto. The NPCI, UPI’s parent body, is not a fan of crypto. Shortly after Coinbase’s announcement, the NPCI released an official statement. It also tweeted the same, “Statement by NPCI as on 7th April 2022. With reference to some recent media reports around the purchase of Cryptocurrencies using UPI, the National Payments Corporation of India would like to clarify that we are not aware of any crypto exchange using UPI.”

Volatility is in the Air 

April started with a lot of wins. This was the first week of the month.

This was week two:

Things began to go sideways in week 3 before week 4 required the Crypto Dads community to come together:

Dads Paying Taxes

It is tax-time and everyone pitched in: 

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