Everything web3, crypto, defi, degen
By Arjun Sethi, Kraken co-CEO The illusion of liquidity It happened in September 2019 when overnight repo rates spiked to 10%. It happened in March 2020 when Treasury markets seized and the world’s benchmark “risk free” asset had no bid. It happened again in March 2023 when regional banks failed and the Fed had to…
In brief Experts believe that some crypto traders are selling as they are following the classic four-year cycle rulebook. Historically, Bitcoin has followed a four-year cycle (with altcoins following suit), and believers are fearful a crash is looming. However, many analysts believe that the classic four-year cycle will be broken due to institutional adoption and…
In brief Coinbase is launching an all-in-one financial platform for small and medium businesses to receive crypto, manage assets, and earn up to 4.1% APY on USDC stablecoins. The platform includes instant settlements, QuickBooks and Xero integrations, and self-service onboarding with approval in as little as two days. Coinbase Business competes with fintechs like Mercury…
In brief Visa reports stablecoins have originated $670 billion in lending over five years, with average loan sizes rising from $76,000 to $121,000. USDC and USDT dominate stablecoin lending, mirroring their share of the $307 billion total stablecoin market. The IMF warns that stablecoin growth could lead to excessive risk-taking and financial system vulnerabilities. Payments…
In brief Compass Coffee in Washington, D.C. became the first Square seller globally to process Bitcoin payments through a standard register during DC Fintech Week, with all transactions completing instantly. Block’s new Bitcoin payment system allows merchants to accept crypto and convert up to 50% of daily sales into Bitcoin starting November 10, with zero…
In brief CME is facilitating options trades for Solana and XRP futures. So far, CME’s website shows five contracts outstanding for each asset. CME’s Solana futures were more popular than XRP alternatives in the third quarter. CME Group said on Tuesday that it has begun facilitating trades for options on Solana and XRP futures, giving…
In brief OwlTing announced Tuesday it will begin trading on the Nasdaq on Thursday. The company chose a direct listing to emphasize transparency and avoid shareholder dilution. The move follows heightened global regulatory focus and growing institutional interest in stablecoins. Taiwanese stablecoin infrastructure company OwlTing will commence trading on the Nasdaq Global Market on Thursday,…
In brief Coinbase is making a fresh investment in CoinDCX, building on prior investments through Coinbase Ventures, with the deal subject to regulatory approvals. The deal comes months after CoinDCX weathered a $44.2 million hack in July, which the exchange absorbed from its treasury reserves while dismissing acquisition rumors at the time. Industry experts view…
In brief Public companies holding Bitcoin saw a 40% surge in the third quarter. These firms collectively hold over 1.02M BTC, valued at over $117 billion. Experts cite friendly policy and long-term strategy, forecasting that Bitcoin could hit $160,000 in the fourth quarter. A record number of companies have increased their Bitcoin exposure in the…
In brief Bitcoin gained against Ethereum as Trump’s latest tariff threat weighed on markets. Despite recently losing ground, Ethereum is still outperforming Bitcoin this year. Some analysts foresee an altcoin rally, while others are doubtful. Ethereum surged against Bitcoin on its way toward a peak of nearly $5,000 this summer, but the reigning cryptocurrency reasserted…
