Everything web3, crypto, defi, degen
In brief Nasdaq and Russell 2000 led gains Monday, while Bitcoin posted a smaller advance. Revised jobs data fueled a surge in rate cut expectations ahead of the Fed’s September meeting. Traders point to unresolved macro risks and rising put activity in Bitcoin as signs of caution. U.S. stocks rebounded Monday, lifting risk assets broadly,…
In brief A four-year high in CTA exposure signals a potential market deleveraging event that could put pressure on Bitcoin. Downward revisions in jobs data are fueling speculation of a more aggressive Fed rate-cutting schedule. After a recent sell-off, Bitcoin is expected to enter a period of “chopsolidation” rather than a major collapse. Bitcoin’s slow…
In brief 17-year-old Nathan Smith made ChatGPT help him pick micro stocks and documented his open-source AI experiment on Substack and GitHub. Wall Street firms are quietly rolling out their own AI copilots, but experts warn: bots are fast, but not always wise. Generally speaking, AI agents and chatbots are better at fundamental analysis than…
In brief Academic research points to a number of factors influencing Bitcoin’s value. They encompass programmed scarcity, network effects, and cost of production. Studies have also found that sentiment and belief play an outsized role in determining the value of Bitcoin. Professor Andrew Urquhart is Professor of Finance and Financial Technology and Head of the…
In brief Bitcoin, Ethereum, and XRP all continued a dayslong slump Friday, helping push crypto liquidations over the $900 million mark. The overwhelming majority of those liquidations, over $823 million worth, were of long positions. The downturn was due mainly to macro political and economic factors, including a poor U.S. jobs report, new sweeping global…
Coinbase’s retail trading volumes dropped sharply in Q2, but beneath the surface, XRP continued to generate more consumer transaction revenue than Ethereum, extending a trend that began in the first quarter.According to Coinbase’s Q2 shareholder letter, XRP made up 13% of consumer transaction revenue, narrowly ahead of Ethereum at 12%. That marked a shift from…
In brief Analysts’ Coinbase forecasts had called for $1.59 billion in total revenue. The crypto exchange giant has made multiple major acquisitions this year, including for options trading platform Deribit. The company’s stock price was down more than 6% in after-market trading. Coinbase clocked $1.5 billion in total revenue, a 25% drop from the previous financial quarter, as…
In brief Interest rates have remained between 4.25% and 4.50% since the last rate cut in December. The Federal Reserve’s has remained cautious amid unsettling inflation signs. Bitcoin has traded largely below $120,000 since reaching a record high near $123,000 earlier this year. Bitcoin ticked down only slightly after the U.S. central bank left the…
In brief Bitcoin, Ethereum, XRP, and other major cryptocurrencies declined Wednesday morning ahead of the Federal Reserve’s monetary policy decision, with the overall crypto market cap falling 5.4% to $3.9 trillion. The Fed is widely expected to keep interest rates unchanged (97% probability according to traders), though some officials like Christopher Waller support rate cuts,…
Kraken is in build mode. We are creating a multi-asset platform that enables anyone to trade anything, anytime, anywhere. In Q2, our pace accelerated — new products launched, global access expanded and infrastructure scaled. We are pushing the envelope on geo expansion and establishing ourselves as the infrastructure provider that will power the next generation…
