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iTrust Daily Insight

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22nd October
iTrust Daily Insight
Edition 10.22.2019

October 22: Facebook CEO Mark Zukerberg Testifies Tomorrow Before Congress on Libra

Dear reader —

Tomorrow we will return to our normal format but today we want to keep our message very simple.

There are two events clearly within horizon which may affect market prices of digital- and crypto-currencies tomorrow:

1) the vote in the House of Commons regarding Brexit (see our commentary of last Thursday for potential ramifications); and

2) Mark Zukerberg’s testimony at the US congress which topics will include Libra, the digital currency Facebook and other consortium members hope to launch.  News of Libra’s slower-than-previously-expected launch seemed to drive market prices lower last week for digital currencies.

You can watch the testimony on C-Span tomorrow:
https://www.c-span.org/video/?465293-1/facebook-founder-mark-zuckerberg-testifies-house-financial-services

Please direct any questions to Blake Skadron. If he cannot assist, a member of our Economics Analysis team will speak with you as soon as possible.

Tim Shaler is Chief Economist of iTrust Capital.  He is a published Real Estate economist, was a portfolio manager and asset allocation expert at his previous firms and is an adjunct professor at Webster University. His MBA (Finance) and MA in Russian Economic History are both from the University of Chicago.

For all media inquiries, please contact Blake Skadron at b.skadron@itrustcapital.com.

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