Crypto Research
1,847 Results
REGULATORY THREATS MORE BARK THAN BITE (TO ASSET PRICES) Last week we discussed that more regulatory actions would be coming – and they certainly were. On Monday morning, Paxos was ordered to shut down its services surrounding Binance’s BUSD stablecoin on the grounds that it might be deemed a security. There were worries that there would be additional regulatory action against other centralized stablecoin issuers, but as the week progressed, it...
Traditional indices are extending yesterdayâs fall on the back of higher terminal rate expectations after a couple of hot economic data points this week. The SPY 1.16% (-0.91%) is holding above $400 while the QQQ 1.02% (-1.54%) has fallen just below $300. After a violent dump leading into yesterdayâs close, BTC (+3.52%) and ETH (+3.49%) have rallied back to $24.3k and $1.69k, respectively. Liquid staking derivatives (LSDs) are outperforming today with LDO...
Digital asset markets have continued to decouple from legacy markets since Tuesday. BTC (+2.6%) briefly spiked above $25k this morning before retracing right below, while ETH (+2.5%) broke $1.7k and is holding above the level at the time of writing. On the other hand, ^SPX 1.16% (-0.4%) and QQQ 1.02% (-0.4%) opened lower before trading upwards. Markets were spooked by signs of persistent inflation following a higher annual PPI print of 6.0%,...
Citadel, Susquehanna, and Soros buy Silvergate, and Bitcoin's Average Block Size hits All-Time-High
Crypto rallied following today's CPI report that showed that inflation grew at a 6.4% annual rate, slightly higher than expected. BTC and ETH rose 1.53% and 2.93%, respectively, while SPX and NDQ were down 0.14% and up 0.23%. Interestingly, more traditional finance giants have acquired shares of Silvergate (SI). Citadel Securities disclosed a 5.5% stake in the crypto-friendly bank, Susquehanna Advisors Group disclosed a 7.5% stake, and George Soros's fund...
Equity markets are rising today ahead of the latest CPI reading due at 8:30 AM tomorrow. The S&P 500 and Nasdaq 100 are up 0.85% and 1.22%, respectively, while the US Dollar and US Treasury yields are showing slight declines. Crypto markets were rallying this weekend but were stopped short after Paxos announced the termination of their relationship with Binance surrounding BUSD (more below). BTC (-0.96%) is holding around $21.6k...
KRAKEN DOWN ON STAKING AS A SERVICE On Wednesday, Brian Armstrong, the CEO of Coinbase, tweeted that he heard rumors that the U.S. Securities and Exchange Commission (SEC) might ban retail investors from engaging in cryptocurrency staking. In his tweet, he expressed concern about this possibility and said that he believes it would be a terrible path for the U.S. if that were to happen. Then on Thursday, Kraken, another...
Digital asset markets took a dive late yesterday after the SEC announced its $30m settlement with Kraken's staking service and investigation into stablecoin issuer Paxos. BTC and ETH retraced 4.0% and 6.3% in the past day, while ^SPX 1.16% and QQQ 1.02% are down 0.30% and 1.3% since yesterday's close. In response to the SEC's crackdown on centralized staking services, liquid staking derivative RocketPool (RPL) performed well relative to the market, up...
Following large intraday swings yesterday after Jerome Powell's speech at the Economic Club of DC, traditional indices have picked a direction, with the SPY 1.16% (-1.07%) and QQQ 1.02% (-1.72%) both falling today. BTC (-1.30%) and ETH (-1.36%) continue to trade around $23k and $1.65k as many altcoins are cooling off following impressive gains over the past month. Popular Arbitrum tokens GMX and MAGIC are down 9.05% and 13.83%, respectively. The Sandbox...
