We unpack the latest cross asset price action in response to surging oil prices and what elevated energy prices could mean for inflation, the Fed, and broader risk sentiment. We then explore why AI agents may become one of the most important structural themes in crypto, as autonomous software increasingly needs wallets, payments, settlement, and coordination rails to transact at scale. We also discuss Ethereum’s evolving institutional story, including why activity and liquidity may be re-centering around Ethereum L1 as the fee gap versus L2s narrows and upcoming upgrades improve the base layer’s execution capacity. Finally, we look at crypto’s deeper move into household finance through products like crypto-backed mortgages and 401(k) access, and why that could mark an important next phase in the asset class’s institutionalization. Key sections:  (00:00 - 14:07) Iran, oil, and the macro backdrop: why the breakout above $100 in crude oil futures matters, how elevated energy prices are tightening financial conditions, and implications for risk assets. (14:07 - 20:08) Why AI agents matter for crypto: how the narrative has shifted from model training to inference, reasoning, and persistent agents, and why autonomous software may need crypto-native payments, wallets, and settlement rails to function as real economic actors. (20:08 - 27:48) Where value may accrue in the AI-agent stack: foundational rails, coordination layers, and integrity layers, plus how x402, Base, and tokens tied to agent coordination or decentralized intelligence fit into that framework. (27:48 - 37:43) Ethereum’s institutional moment and the L1/L2 narrative shift: why lower mainnet fees and upcoming upgrades may be helping activity, liquidity, stablecoins, and tokenized assets re-center around Ethereum L1. (37:43 - 42:17) Crypto-backed mortgages and 401(k)s: why crypto’s integration into core household financial products could be a meaningful next step for institutional adoption, even if the long-term structure still depends on greater regulatory clarity.Speakers: David Duong, CFA - Global Head of Investment Research (X: DavidDuong) Colin Basco - Research Associate (X: colin_basco) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we step back from the macro noise and focus on the biggest crypto stories of the week: (03:11 - 05:18) Why tokenization, stablecoins, AI agents, and onchain commerce are emerging as core crypto infrastructure themes. Plus, Coinbase Asset Management’s tokenized bitcoin yield fund on Base and what it says about institutional demand for compliant onchain products. (05:18 - 08:51) Why Hyperliquid’s launch of an S&P 500 perpetual matters beyond a single product: the significance of securing an official S&P license, why this helps validate Hyperliquid as more than a crypto-only venue, and how it could set a precedent for more licensed benchmark exposure to move onchain. (08:51 - 18:58) Breaking down the new SEC-CFTC digital commodity taxonomy: how it reduces legal ambiguity, why that matters for institutional allocation, and why it may benefit altcoins (18:58 - 26:21) Ethereum’s emerging supply sink: why BlackRock’s staked ETH ETF changes the demand story, how staking and treasury holdings are reducing ETH’s tradable float, and why that could become increasingly important for Ethereum’s long-run supply-demand profileSpeakers:  David Duong, CFA - Global Head of Investment Research (X: DavidDuong)  Colin Basco - Research Associate (X: colin_basco) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we unpack some major crypto market themes: The Iran shock has turned oil from a background variable into an active transmission channel for inflation and volatility, complicating the Fed’s path to rate cuts just as labor data quietly weakens in the background. What will the Fed do at its FOMC meeting this week? Bitcoin has outperformed U.S. equities and large‑cap tech on a risk‑adjusted basis since the start of March, helped by prior deleveraging and a cleaner positioning backdrop, which supports the view that we may be moving past “peak pessimism” – though the confirmation signal is still pending. Altcoins are showing strong relative performance, signaling a return to risk appetite, with AI-related sectors breaking out and gaining momentum following events like the Nvidia conference. That includes tokens like BItTensor’s TAO as well as Venice’s VVV. Meanwhile,  Meta’s acquisition of Moltbook (a social network for AI agents) highlights the growth of agentic commerce.Speakers: David Duong, CFA - Global Head of Investment Research (X: DavidDuong) Colin Basco - Research Associate (X: colin_basco) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we unpack the latest escalation in the Iran conflict and why the move in oil matters for markets, inflation expectations, and the Fed. We discuss how a headline-sensitive geopolitical risk premium has made oil the key macro transmission channel again, why the duration of any supply disruption matters, and what that could mean for bitcoin if this evolves from a short-lived shock into a longer war of attrition. We also explore why crypto-native venues like Hyperliquid have benefited from weekend price discovery in oil and other macro assets, and why we think open interest matters more than raw volume when judging the durability of Hyperliquid’s moat. Finally, we lay out the key BTC levels and trading scenarios for the week ahead: why $73K remains the pivotal breakout zone, how negative gamma around $75K could accelerate a move toward $80K if reclaimed, and why we continue to favor trading the reaction at key levels rather than blindly front-running moves. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we unpack the latest escalation in the Iran conflict and why the Strait of Hormuz standoff may be affecting market volatility and inflation-risk. We discuss the initial stability in markets before sentiment sobered on Tuesday as spillover fears grew, with oil rallying as gold fell. We then pivot to Block’s 40% workforce cut, explicitly framed as an AI-driven operating model shift, and argue it’s less a one-off layoff story and more a signal of what markets may increasingly reward: credible “AI-to-margins” narratives that reshape competitive incentives. From there, we connect AI-driven restructuring to bitcoin through two macro paths: 1) a productivity-led disinflation tailwind that loosens financial conditions versus 2) a near-term demand shock that triggers risk-off first. Finally, we highlight bitcoin’s key levels and map out the trading scenarios to watch this week.Speakers: David Duong, CFA - Global Head of Investment Research (X: DavidDuong) Colin Basco - Research Associate (X: colin_basco) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we explore AI’s role in the recent cross-asset sell off and talk about what levels to watch on bitcoin in this mostly technically driven market. Negative gamma near the $60-70k zone may exacerbate downside moves, while positive gamma closer to $85-90k levels may pin price action to the upside.  Indeed, despite Strategy (MSTR) buying BTC and Bitmine buying ETH over the last week, the price action largely continues to look lackluster. We talk about why this and other factors have contributed to our decision to change our market outlook from cautiously optimistic to neutral in 1Q26. We also discuss Vitalik Buterin’s recent write up on the future of Ethereum Layer-2 networks.Speakers:David Duong, CFA - Global Head of Investment Research (X: DavidDuong)Colin Basco - Research Associate (X: colin_basco) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

On this episode, we sit down with Project 11 CEO Alex Pruden to unpack what quantum computing really means for bitcoin’s long‑term security — without the hype or doom scenarios. We break down realistic timelines for “cryptographically relevant” quantum computers, which parts of bitcoin are actually at risk, and why open blockchains may be better positioned to upgrade than legacy finance. The conversation also highlights Coinbase’s Independent Advisory Board on Quantum Computing and Blockchain and how the council is helping the industry plan calmly for a post‑quantum future.Guest: Alex Prudent, CEO of Project 11Speakers:David Duong, CFA - Global Head of Investment Research (X: DavidDuong)Colin Basco - Research Associate (X: colin_basco) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week we discuss the sharp decline in crypto prices, which fell alongside gold after the nomination of Kevin Warsh as Fed chair, seemingly disproving the gold-to-bitcoin rotation narrative. We explore the lack of a clear marginal buyer for BTC, the increasing bearish positioning in the derivatives market, and the challenge for long-term holders. We also analyze the potential of digital asset treasuries as buyers, concluding their impact lessens as prices drop, and discuss recent positive regulatory developments regarding the crypto market structure bill, with prediction market odds for passage before May now at 74%. Finally, it seems systematic trading strategies are looking for a strong reclaim of the $81K-82K range as the key technical level for a shift in BTC regime - we breakdown what this means for market players.Speakers:David Duong, CFA - Global Head of Investment Research (X: DavidDuong)Colin Basco - Research Associate (X: colin_basco) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The global macro landscape is shifting fast, and this week we dive into how it’s influencing bitcoin’s price. We’ll explore potential for a rotation between bitcoin and gold as precious metals come back into focus. Then, we look at the dramatic appreciation of the Japanese Yen and what speculation about US and Japanese authorities strengthening the currency means for crypto. We’ll also cover the potential impact of new tariffs in South Korea and Canada and how that’s playing into hedging strategies. Finally, with the Fed’s latest decision looming, we unpack the broader struggle for capital: in a world where the DXY is under pressure and the European fiscal outlook remains weak, what is the ultimate alternative asset? Tune in for a deep dive into the forces driving crypto markets right now. Speakers:David Duong, CFA - Global Head of Investment Research (X: DavidDuong)Colin Basco - Research Associate (X: colin_basco) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we step back from the day‑to‑day price action and bring on Richard Galvin, Executive Chairman & CIO at Digital Asset Capital Management (DACM), to frame the 2026 crypto cycle. We dig into how his TradFi background has shaped DACM’s investment philosophy, where he’s positioning across BTC and alts, and which tail risks he worries about most this year. The conversation covers how to characterize the current market setup, the themes that could define 2026 for professional allocators, the macro backdrop versus crypto beta, and how evolving regulation and institutional adoption are really moving capital in this space.Speakers:David Duong, CFA - Global Head of Investment Research (X: DavidDuong)Colin Basco - Research Associate (X: colin_basco) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We cover a lot of ground in this episode including:the effect of geopolitical developments on cryptothe persistence of the BTC inflation narrativeMSCI’s deferred DAT decisionviral prediction marketsOn the macro side, the focus is on the US CPI print for December and whether this will impact the Fed’s decision making in 2026. Together, this helps tell us whether this crypto bounce is the beginning of a new leg higher or just an early‑year reset in positioning.Speakers:David Duong, CFA - Global Head of Investment Research (X: DavidDuong)Colin Basco - Research Associate (X: colin_basco) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We unpack our optimistic 1H26 crypto market outlook anchored on global liquidity support and rate-cut expectations, though energy prices and geopolitics represent potential tail risks. This may set the stage for momentum-led crypto performance and disciplined positioning. The discussion also covers the rise of tokenization—from tokenized equities to equity perps and higher collateral efficiency—and stablecoins moving beyond trading into payments and payrolls.  Finally, the episode explores the social and market flywheel around prediction markets, the evolving privacy narrative, and a pragmatic take on the fundamentals vs. technicals debate using recent DeFi examples.Speakers:David Duong, CFA - Global Head of Investment Research (X: DavidDuong)Colin Basco - Research Associate (X: colin_basco) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this year-end episode, our Coinbase Research team wraps up 2025 by grading their crypto market predictions from the previous year and discussing key themes for 2026. The hosts score their prior year outlook on macro trends, tokenization, and the resurgence of DeFi/DEX volumes. Find out which calls earned high marks and where projections were “overly optimistic.” They then look ahead and share their optimism for a recovery in the first half, supported by the ongoing rate cutting cycle; the rise of prediction markets; the continued explosion in crypto derivatives; the endgame for application-specific chains; and the path for stablecoin growth in the year ahead.Speakers:David Duong, CFA - Global Head of Investment Research (X: DavidDuong)Colin Basco - Research Associate (X: colin_basco) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Crypto racked up some wins this week with Vanguard and Bank of America opening the door for their clients to trade the asset class, though many still wonder why BTC isn’t trading substantively higher given all the good news. Our Head of Research, David Duong, remains constructive due to favorable macro conditions but acknowledges that it’s hard to identify the marginal buyer at the moment. That said, he still thinks DATs are a meaningful source of demand. Meanwhile, the Fed decision is coming and a rate cut seems to be a lock. But what’s the consensus sentiment on the board? How will they interpret recent inflation trends? Fear of hawkish messaging seems to be pervasive. Separately, David and Colin debate the merits of trying to trade the potential nomination of Kevin Hassett to Fed Chair. Finally, we cover Ethereum’s latest upgrade and the implications for ETH's price.Speakers:David Duong, CFA - Global Head of Investment Research (X: Dav1dDuong)Colin Basco - Research Associate (X: colin_basco)  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, Coinbase Research dissects the post-Thanksgiving crypto landscape, marked by low liquidity and high volatility. We debate a “trend variant” approach to dollar cost averaging (DCA), explore the implications of the Fed ending quantitative tightening, and the market implications of a highly anticipated December Fed rate cut—stressing that the commentary’s tone will matter more than most meetings. The sell off from concerns over a Bank of Japan hike (leading to an unwind of JPY carry trades) seems to be over for now. We also examine the unsettling trend of AI-driven white-collar layoffs and its effect on the ‘K-shaped economy’. Finally, we dive into bitcoin’s key onchain and technical signals, from long-term holder distribution and bearish options positioning to the critical battle to reclaim the 50-day moving average and the $98K-100K support zone.Speakers:David Duong, CFA - Global Head of Investment Research (X: Dav1dDuong)Colin Basco - Research Associate (X: colin_basco) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Crypto markets have gone through a broad repricing as doubts about AI ROI, the unwind of the momentum trade, and renewed uncertainty around the December FOMC meeting collide. We unpack why this macro mix matters more than usual: a prolonged government shutdown has jeopardized October 2025 releases, adding to uncertainty about what comes next. That said, we think the signal from small business earnings still points to cuts. But the longer-time-frame trend reduces the room for speculation, making it hard to pick strong altcoin names. Should investors buy/hold/sell here? Is this the capitulation we were waiting for, or will there be a further purge? Tune in to hear our latest thoughts.Speakers:David Duong, CFA - Global Head of Investment ResearchColin Basco - Research Associate Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This episode unpacks a fragile week in crypto markets, discussing why reactive positioning can beat buying dips in downtrends, and what November’s liquidity signals could mean for a potential year‑end turn. We map the landscape of softening demand—from corporate treasuries to ETF outflows—alongside key technical zones that now define the range, and what renewed options hedging is signaling about downside risk and rebound potential.  We also talk about how shifting FOMC odds are feeding risk sentiment, and why the much‑debated AI trade—between massive capex and slower monetization—matters for crypto markets and sector rotation.Speakers:David Duong, CFA - Global Head of Investment ResearchGeorg Toropov - Senior CES Sales TraderColin Basco - Research Associate Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Starting today, all Coinbase One US subscribers will have early access to Coinbase Research. If you’re a CB1 subscriber, check your inbox now. In this episode, we cover some of the topics from our latest Monthly Outlook. We also wade into the enterprise L1 debate following the announcement that long-time Ethereum Foundation researcher Dankrad Feist is joining Tempo — a new L1 focused on payments and stablecoins. We also walk through the latest Charting Crypto report where we unpack new investor survey signals, dig into our Global M2 Money Supply Index, and discuss the role of digital asset treasuries as a force for structural demand across BTC and ETH.Speakers:David Duong, CFA - Global Head of Investment ResearchBen Rodriguez - Senior Protocol SpecialistColin Basco - Research Associate Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we dig into whether there’s more downside ahead or if the worst is now behind us following the leverage flush on October 10. We discuss how elevated altcoin open interest set up cascading liquidations and why the reset cleans up positioning but doesn’t guarantee direction. Flows remain mixed with limited BTC dip‑buying, a concentrated ETH bid, and some ETF outflows—so we prefer reactive over anticipatory positioning until breadth improves. Finally, a growing privacy theme centers on Zcash, with momentum holding even through the drawdown. Into next week, a 25bps Fed cut is the base case, though a dovish Beige Book is increasing the odds of the board front loading the easing cycle into early next year.Speakers:David Duong, CFA - Global Head of Investment ResearchGeorg Toropov - Senior CES Sales TraderColin Basco - Research Associate Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The phrase “Black Friday” now carries a very different connotation for crypto market participants following Friday’s flash crash that saw $19B in leveraged positions wiped out. Ostensibly, the catalyst for the move was the announcement of 100% tariffs and new export controls on China (subsequently walked back), but the unprecedented scale of the move suggests many moving parts to the story. We break down the main vectors contributing to the sell off, including the market’s massive liquidity drain, the collateral valuation mechanics of certain crypto-trading platforms, and the role that auto-deleveraging mechanisms played. We also discuss the lessons being learned in the aftermath and what this means for both retail and institutional investors going forward.Speakers:David Duong, CFA - Global Head of Investment ResearchJoshua Pak - Senior CES Sales TraderColin Basco - Research Associate Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Bitcoin pushed past $125,000 this week as US spot ETFs saw massive inflows, and corporate treasuries added to their reserves. With the US government shutdown, what data should we be looking at for markets? Meanwhile, SWIFT’s recent blockchain announcement suggests traditional finance is rapidly adapting to crypto realities, while Stripe’s revolutionary “Open Issuance” platform democratizes stablecoin creation with backing from BlackRock and Fidelity. In other topics, are you sick of hearing about gold? Too bad because we talk about it. On the regulatory side, the CFTC launched its Tokenized Collateral and Stablecoins Initiative as regulators embrace crypto derivatives, and the SEC has been making headlines with its no-action letters and new fast-track standards for crypto ETF listings. This episode is perfect for institutional investors, crypto researchers, DeFi builders, and anyone tracking the intersection of traditional finance and digital assets.Speakers:David Duong, CFA - Global Head of Investment ResearchColin Basco - Research Associate Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This episode breaks down the key turning points in the current macro environment, exploring why risk assets are struggling despite recent Fed dovishness and what’s driving the recent pause in DeFi total value locked (TVL) growth, even as markets search for new catalysts. The conversation moves into real-world adoption, examining fresh stablecoin and asset-tokenization initiatives on Avalanche, and considers the broader implications for digital asset treasury (DAT) markets—including the merger between Strive and Semler Scientific. We offer insights from our latest institutional research, touching on the impending US government shutdown, the evolving regulatory landscape and major onchain trends.Speakers:David Duong, CFA - Global Head of Investment ResearchColin Basco - Research Associate Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, the team analyzes the liquidation-driven downturn in BTC, ETH, and altcoins, alongside the broader macroeconomic outlook for Q4. Plus, Colin provides an in-depth analysis of ETH fundamentals, DAT activity, and developments on Base.Speakers:- Joshua Pak, Senior CES Sales Trader- Colin Basco, Institutional Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

David and Colin answer three pressing questions from institutional investors: is the DAT cycle over? Do Fed cuts represent a local top? Does seasonality (e.g. Uptober) really matter in crypto? They also discuss what's happening with Nakamoto Holdings, how much the Fed could cut before the end of the year, and the most relevant market news. You don't want to miss this one.Speakers:David Duong, CFA - Global Head of Investment ResearchColin Basco - Research Associate  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Nasdaq's Crypto Push and a Labor Market ShockerDescription: This week, we're analyzing a market that's showing a clear divergence. Bitcoin is seeing strong inflows of over $620 million, while Ethereum is experiencing significant outflows of $880 million. Price action reflects this, with Bitcoin holding a tight range, Ethereum trading flat, and Solana outperforming with a 9% gain. We'll look at what healthy perp funding rates tell us about market sentiment.The dominant theme is the shifting macro landscape. We received a major reality check on the U.S. labor market with large downward revisions to annual payroll data. This, combined with last week's weak JOLTs data, is increasing the odds of a larger Fed rate cut ahead of next week's FOMC meeting. All of this sets the stage for a critical CPI report on Thursday. We'll also touch on the latest OPEC+ announcements.This comes as traditional finance makes huge moves into the space. Nasdaq is investing $50 million in the Gemini crypto exchange and has also filed with the SEC to trade tokenized securities alongside traditional stocks. We'll also cover Ant Digital's plan to tokenize $8 billion in assets and the latest onchain news from MegaETH and Ethena.Topics Covered:Market Update:Diverging ETF Flows: BTC inflows ($620m) vs. ETH outflows (-$880m).Price Action: BTC range-bound, ETH flat, and SOL outperforming (+9%).Market Sentiment: Healthy perp funding rates and a rising COIN50 index.Macro Deep Dive:Labor Market Shocker: The 911k downward revision to benchmark payrolls.Fed Outlook: Increased odds of a rate cut ahead of the FOMC meeting.Key Data: What to expect from Thursday's CPI report.Fiscal & Geopolitics:  OPEC+ news.Regulatory & Adoption Breakthroughs:Nasdaq invests $50 million in Gemini.Nasdaq seeks SEC approval to trade tokenized securities.Ant Digital plans to tokenize $8 billion in assets.Onchain & Ecosystem News:MegaETH launches a native stablecoin with Ethena to subsidize fees.Coinbase News & Product Launches:Coming September 22: Mag7 + Crypto Equity Index FuturesCB ResearchCoinbase ResearchSpeakers:Ben Floyd, Head of Execution ServicesDavid Duong, Global Head of ResearchColin Basco, Institutional Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we sit down with Luca Netz, the CEO of Pudgy Penguins, to discuss the project and its vision. Additionally, the team shares insights on market expectations for September, a month historically known for seasonal challenges. We also explore the macroeconomic factors influencing prices.Speakers:Joshua Pak, Senior CES Sales Trader - ModeratorDavid Duong, Global Head of Institutional ResearchGregg Wysocki, Director, U.S. Hedge Fund SalesColin Basco, Institutional ResearchLuca Netz, CEO of Pudgy Penguins Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week we sit down with Ovie Faruq, founder of Rekt Brands, and talk through crypto's weakness ahead of Friday's Jay Powell speech. Speakers:Joshua Pak, Senior CES Sales TraderDavid Duong, Global Head of ResearchColin Basco, Institutional ResearchOvie Faruq, Founder of Rekt Brands Inc Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Description: This week, we're digging into the market's reaction to the latest CPI data and what it means for the macro landscape as we look ahead to the Jackson Hole symposium. We'll discuss expectations for the event, the ongoing debate around potential new Federal Reserve appointments, and provide an update on the tariff situation.The main event in crypto is Ethereum's explosive +23% move on the week, with LDO moving in concert. We'll break down the key drivers behind the rally, including a massive $1.8 billion in ETF inflows, over $2 billion in large Digital Asset Trust (DAT) purchases, and a significant regulatory clarification that liquid staking derivatives (LSDs) will avoid security status. While ETH is technically overbought, we note that funding rates have not yet become excessively rich.We then look at the future of the Ethereum ecosystem, providing an update on the staking exit queue and the evolving discussion around new products like staking ETFs versus the established DATs. We'll also touch on strong network fundamentals, with daily transactions averaging 1.7 million in August.Finally, we have game-changing news from Coinbase. The company is rolling out DEX trading directly in the main Coinbase app for U.S. users, unlocking access to millions of on-chain assets, particularly on Base. In addition, Coinbase Asset Management is launching a second Stablecoin Bootstrap Fund to deepen liquidity across DeFi protocols like Aave, Morpho, and Jupiter.Topics Covered:Macro & Policy:Analysis of the latest CPI data.What to expect from the Jackson Hole symposium.The debate around potential new Fed chair appointments.An update on the tariff situation.Ethereum's Massive Rally:Unpacking the +23% move and LDO's performance.Key Drivers: $1.8B in ETF flows and $2B in DAT purchases.Regulatory Win: Liquid Staking Derivatives (LSDs) avoiding security status.An update on the ETH staking exit queue.Network Health: 1.7 million daily transactions in August.Coinbase News & Product Launches:DEX Trading: Trading on-chain assets directly in the main Coinbase app.DeFi Liquidity: The launch of a second Stablecoin Bootstrap Fund for protocols like Aave and Morpho.A look at the AI tools being used at Coinbase.CB ResearchBitcoin, Liquidity, and Macro CrossroadsSpeakers:Ben Floyd, Head of Execution ServicesDavid Duong, Global Head of ResearchColin Basco, Institutional ResearchBen Rodriguez, Senior Protocol Specialist Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we're analyzing the market's reaction to the recent Non-Farm Payrolls report, which hit our markets and has significantly increased rate cut expectations. We look ahead to the main event on the macro calendar: the Jackson Hole symposium, where Fed Chair Powell is scheduled to speak Friday morning on things including AI and the labor market, potentially setting the tone for the rest of the year. Our latest research report adds context, showing how global liquidity is expected to continue to flow into crypto through Q3 and Q4, and that long-term holders are showing strength by not selling at a loss.Another big story is the continued positive shift in the U.S. regulatory landscape. We provide a deep dive into the SEC's new "Project Crypto," an initiative designed to modernize securities regulation, transition U.S. financial markets to a blockchain-based infrastructure, and, crucially, clarify that most digital assets are not securities—a dramatic move away from the previous "regulation-by-enforcement" era. This is complemented by the CFTC's "Crypto Sprint" to regulate spot markets and a proposed White House tax update that would align the taxation of mined bitcoin with gold.In market structure, we cover the latest Digital Asset Trust (DAT) updates, including large purchases in SOL and ETH, and discuss how investor equity unlocks can affect market pressure. We also provide a quick update on the ETH staking queue.Finally, we have a series of massive real-world adoption announcements from Coinbase. The exchange is joining forces with JPMorgan Chase to make it even easier for customers to access crypto. Additionally, Coinbase has expanded its PayPal integration to Canada and will be rolling out Samsung Pay as a payment and deposit option for users in the United States and Canada.Topics Covered:Macro Outlook:Post-NFP analysis and increased rate cut expectations.What to watch for at the Jackson Hole symposium and from Powell's speech.Insights from our research on global liquidity (M2) and BTC valuation.The Regulatory Revolution:A deep dive into the SEC's "Project Crypto" and its goal to clarify asset classifications.The CFTC's "Crypto Sprint" for regulating spot markets.The proposed White House tax update for bitcoin miners.Market & On-Chain Dynamics:Digital Asset Trust (DAT) updates: large purchases and investor unlock pressures.An update on the Ethereum staking queue.Coinbase & TradFi Integration:The new partnership between Coinbase and JPMorgan ChaseExpansion of PayPal buy/sell functionality to CanadaIntegration of Samsung Pay in the US and CanadaCB ResearchBitcoin, Liquidity, and Macro CrossroadsSpeakers:Ben Floyd, Head of Execution ServicesDavid Duong, Global Head of ResearchColin Basco, Institutional Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week we dive into BTC's resilient price action in the face of challenging flow dynamics and break down ongoing ETH demand and broader macro trends.Speakers:Joshua Pak, Senior CES Sales TraderDavid Duong, Global Head of ResearchGregg Wysocki, Director Institutional SalesColin Basco, Institutional Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week we dive into BTC's falling dominance and ETH's banner inflows. The team also discusses ETH supply and demand fundamentals, SOL v ETH beta trades, and the Charting Crypto quarterly report.Speakers:Joshua Pak, Senior CES Sales TraderDavid Duong, Global Head of ResearchBen Rodriguez, Senior Protocol Speciali Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week we dive into market dynamics that led to crypto’s strong price action on the week. The team walks through flows, derivative markets, and meme coin thematics. We also spend time with Merlin Egalite, co-founder @ Morpho Labs to walk through Merlin’s vision of DeFi lending, Coinbase’s crypto backed loan product, and Morpho v2.Speakers:Joshua Pak, Senior CES Sales TraderDavid Duong, Global Head of ResearchMerlin Egalite, Co-founder of Morpho Labs Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we’re diving into the accelerating convergence of traditional finance and crypto, headlined by the groundbreaking news that Fannie Mae and Freddie Mac are considering accepting crypto as valid assets for mortgage applications. This, combined with Circle’s recent application for a U.S. bank charter, signals a major shift in how digital assets are integrated into the core financial system.The macro landscape is dominated by the Federal Reserve, as we analyze recent comments on stablecoins from Chair Powell and explore the crucial discussion around his potential replacements and what their policy stances could mean for crypto’s future. We also provide updates on the “One Big Beautiful Bill” and the looming July 9th tariff deadline, all ahead of this week’s key Non-Farm Payrolls report on Thursday.We then turn to corporate strategy, where new crypto treasury products are launching from Bitmine Immersion Tech and TAO Synergies. In fundraising, we focus on the explosion in prediction markets, highlighted by massive  funding rounds for Polymarket at a $1 billion valuation and Kalshi at a $2 billion valuation.Finally, we have a slate of major updates from Coinbase. The exchange has secured its full MiCA license in Europe, a milestone that unlocks access to all 27 EU member states. For U.S. traders, perpetual-style futures are set to launch on July 21st, and in Australia, Coinbase has integrated PayPal as a new payment method.Topics Covered:Macro & Policy Deep Dive:Powell’s recent stablecoin commentary.The debate over potential Fed chair replacements and their crypto impact.Updates on the “One Big Beautiful Bill,” Iran, and the July 9th tariff deadline.U.S. rates outlook.TradFi & Crypto Convergence:Fannie Mae & Freddie Mac considering crypto for mortgage applications.Circle’s application for a U.S. bank charter.New crypto treasury strategies driven by FASB accounting changes.Tokenized equities launching on Arbitrum.Fundarising:The boom in prediction markets: Polymarket ($1B valuation) & Kalshi ($2B valuation) secure massive funding.Coinbase: Global Expansion & Product Innovation:Securing a landmark MiCA licence for the entire 27-member European Union.Upcoming launch of perpetual-style futures in the U.S. (July 21st).Integration of PayPal as a payment method in Australia.Upcoming Catalysts:Non-Farm Payrolls report on Thursday (July 3rd) due to the holiday.     Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we explore BTC's turbulent price movements amid a volatile geopolitical backdrop. The team dives into an analysis of price performance for crypto equity-linked assets, developments in stablecoins, and partnerships between credit card issuers and crypto-native applications. Zaid from the Prime Financing team provides insights into significant trends in the crypto lending market. Concluding the discussion, David outlines the macro expectations for the week, while the team examines the notable surge in Polymarket activity. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we analyze a market sending mixed signals. While ETF flows for both BTC and ETH remain positive and perp funding rates are healthy, the COIN50 Index is down 5.2% on the week. This raises the question: are global markets accurately pricing risk, especially with low volatility in traditional markets (VIX We then dive into the dual nature of the corporate treasury strategy. While more companies are announcing allocations to BTC, SOL, and ETH, we examine the implications of the $7 billion debt cliff due for major holders in late 2029 and early 2030, and how increased competition may encourage innovative and potentially risky practices.The main event today is the expected Senate vote on the GENIUS Act, a pivotal moment for stablecoin legislation in the US. This comes as Circle’s stock approaches all-time highs and DeFi tokens like AAVE, UNI, and SKY are trading well. We’ll explore the value of ETH in this landscape, supported by the massive growth of onchain real-world assets ($24B) and stablecoins ($238B).Finally, we cover a series of major announcements from Coinbase that highlight real-world adoption. This includes the groundbreaking partnership with Shopify to bring USDC payments via Base to millions of merchants, the launch of the new Coinbase One Card with up to 4% bitcoin back, the all-in-one Coinbase Business platform, and insights from the latest “State of Crypto” report, which firmly places stablecoins at the center of the future of money.Topics Covered:Market Update:Positive BTC & ETH ETF Flows vs. a -5.2% COIN50 Index.Healthy Perp Funding Rates (BTC 7.4%, ETH 9.1%).Risk assessment: VIX vs. BTC Volatility and Gold correlation.Global Macro:Central Bank Decisions: Fed, Norges, SNB, Bank of England.Shifting Fed expectations to a single 2025 rate cut.US Economic Data: Jobless claims, consumer confidence, housing starts.Trade & Tariffs: July 9th deadline and US/UK deal talks.Corporate Treasury Strategy:Continued adoption of BTC, SOL, and ETH by public companies.The risk may be further out based on the 2029/2030 corporate debt maturities.Ethereum & Stablecoin Thesis:The GENIUS Act: US Senate vote expected today.Market Movers: Circle, AAVE, UNI, and SKY performance.Ecosystem Growth: Real-world assets ($24B) and stablecoins ($238B).Coinbase NewsPartnership with Shopify for USDC payments on Base.New Coinbase One Card with 4% bitcoin back.Launch of the Coinbase Business platform.Key takeaways from the "State of Crypto" report. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we're tracking Ethereum's continued ascent, which has now seen an incredible 14 consecutive days of ETF inflows. Bullish sentiment is reflected across the board with both ETH and BTC basis trading above 10%, while Bitcoin's market dominance holds strong at 65.45%. We'll also dive into the recent strength in DeFi tokens like UNI, AAVE, and SKY following favorable comments from former SEC Commissioner Paul Atkins, and what this signals for the sector's future.The macro landscape is packed with catalysts. We're monitoring US/China trade talks as the July 9th tariff pause deadline approaches, the progress of the "Big Beautiful Bill" through the House, and a critical week for economic data with US CPI and PPI releases. Markets will also be watching the U.S. 30-year bond auction on Thursday for signals on the economy.The main event this week is our stablecoin focus, with the US Senate reportedly set for a vote on the GENIUS stablecoin bill this Wednesday. We'll explore what's next if it passes and the broader industry momentum, including Circle's IPO, Plasma's $500M raise, and reports of major companies like Apple, X, and Airbnb exploring stablecoin payments.We then turn to corporate crypto adoption, discussing a new Standard Chartered report showing 61 public companies now hold 3.2% of Bitcoin's total supply, and how the market is thinking about the risks associated with these growing treasury strategies. We'll also touch on key Bitcoin Core development around transaction relay policy and what it means for the network's future.In the NFT space, Yuga Labs continues to narrow its focus by sunsetting its DAO to launch APE Co.Finally, in Coinbase news: a new report indicates 60% of Fortune 500 firms are working on blockchain initiatives, Prime has advanced its ETH staking capabilities, the "State of Crypto" event is this Thursday and we share a consumer protection PSA.Topics Covered:Market Dynamics:Ethereum's 14-day ETF inflow streak and price ascent.High ETH & BTC basis (>10%) and BTC Dominance (65.45%).DeFi token strength (UNI, AAVE, SKY) following Paul Atkins' comments.Macro & US Policy:US/China trade talks & July 9th tariff deadline.Progress of the "Big Beautiful Bill."Key Economic Data: US CPI, PPI, and the 30-year bond auction.Stablecoin Deep Dive:Upcoming US Senate vote on the GENIUS stablecoin bill.Industry fundraising: Circle IPO, Plasma $500m raise, Noah.Corporate exploration of stablecoin payments (Apple, X, Airbnb).Corporate Adoption & Bitcoin Core:Standard Chartered report: 61 public companies hold 3.2% of BTC.Risks and strategies for corporate crypto treasuries.Bitcoin Core development on transaction relay policy.NFT Ecosystem:Yuga Labs sunsets DAO to launch APE Co.Coinbase News:Report: 60% of Fortune 500 working on blockchain.Product: Advanced ETH staking capabilities on Prime."State of Crypto" on June 12th.A consumer protection PSA.Our latest ad - Who’s got the “Price of Housing in Bitcoin” chart? Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Description:This week, we dissect a shifting market landscape: perp funding rates remain moderate, but Ethereum's basis is notably trading above Bitcoin's, fueled by recent momentum and significant ETH ETF inflows, which starkly contrast with current BTC ETF outflows.Among the big movers, we're seeing gains in MKR, UNI, and CRO, while the COIN50 Index has dipped 4% over the past week. We also delve into the technical picture for major assets, commenting on key support and resistance levels. Encouragingly, corporate BTC flows remain strong.On the macro and regulatory front in the US, the "One Big Beautiful Bill" (OBBB) has recently passed the House. We are also closely watching a significant week for jobs data; April's JOLTS report is in, and upcoming Non-Farm Payrolls and initial jobless claims will provide a comprehensive overview of the current labor market.Industry news is headlined by the Ethereum Foundation's major overhaul of its R&D division. Now in "wartime mode," the focus is sharply on scaling L1s and L2s, alongside significant improvements to user and developer experience (UX/DX). Meanwhile, corporate crypto accumulation continues unabated.Our onchain deep dive explores the progress of Ethereum's Pectra Upgrade, including developments around EIP-7251 consolidations and a noticeably growing staking queue. For Solana, Anza has announced the Alpenglow consensus protocol. In the DeFi space, we're seeing continued growth from Hyperliquid in the perpetuals market and a significant increase in Gearbox lending TVL. We'll also discuss Loudio's innovative "Initial Attention Offering" model, and note that Coinbase Wallet's Mini Apps are now available in limited beta.Topics Covered:Market Dynamics:Perp funding rates & ETH/BTC basis.ETH ETF inflows vs. BTC ETF outflows.Big Movers (MKR, UNI, CRO) & COIN50 Index performance.Commentary on Technicals (including key support/resistance).Corporate BTC flows.Macro & Regulatory:"One Big Beautiful Bill" (OBBB) House passage.Key Jobs Data: JOLTS, upcoming Non-Farm Payrolls & initial jobless claims.Industry & Corporate News:Ethereum Foundation's R&D "wartime mode" (L1/L2 scaling, UX/DX focus).Ongoing corporate crypto accumulation.Onchain Insights:Ethereum: Pectra Upgrade progress (EIP-7251, staking queue).Solana: Anza's Alpenglow consensus protocol announcement.DeFi Trends: Hyperliquid perp market growth, Gearbox lending TVL increase.New Models: Loudio's "Initial Attention Offering."Coinbase News:Wallet Tech: Coinbase Wallet Mini Apps in limited betaCoinbase ResearchHost:Ben Floyd, Head of Execution ServicesSpeakers:David Duong, Head of Institutional ResearchBen Rodriguez, Senior Protocol SpecialistGregory Sutton, Senior CES Sales Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we're diving into Bitcoin's surge to new all-time highs, with funding rates climbing, open interest nearing $100 billion, and BTC dominance holding strong at 61%. We'll explore expectations and market positioning as the major BTC Vegas conference kicks off and examine the bullish signal of the 200-day moving average golden cross. We also discuss how large Bitcoin holders are strategically managing their positions through lending and options.In markets, we compare Solana and Ethereum, including Standard Chartered's $500 SOL initiation and price target. We look at the impending arrival of SOL ETFs & ETPs and the potential for positive flows and arbitrage opportunities. For Ethereum, validators are signaling another gas limit boost, and we note the impressive TVL increase to $119.5 billion over the past month. Also in markets, we cover the COIN50 Index rebalances and its recent strong performance.On the macro front, we analyze Bitcoin demand amidst elevated bond yields, particularly focusing on Japan's significant holdings of US Treasuries. We'll provide an overview of the much-discussed "big beautiful bill" and its potential economic implications. Plus, a look at Bitcoin versus gold through the lens of their unique supply and demand characteristics. Keep an eye on key economic indicators this week with the FOMC minutes due on Wednesday, Initial Jobless Claims on Thursday, and PCE data out on Friday.We also examine the trend of corporates continuing to accumulate Bitcoin, their strategies, and spotlight The Blockchain Group and Strategy. Finally, in Coinbase news, the platform has expanded its altcoin support in Germany, adding RPL, RSR, PENGU, REZ, ATH, SYRUP, PENDLE, and L3.Topics Covered:Bitcoin Bonanza: All-time highs, funding rates, open interest, 61% market dominance, BTC Vegas conference expectations, 200 DMA golden cross, large holder strategies (lending/overwriting).OnChain: SOL vs. ETH, Standard Chartered SOL $500 target, impending SOL ETFs/ETPs, Ethereum gas limit boost, TVL increase to $119.5B.Market Dynamics: COIN50 Index rebalances and strong performance.Macroeconomic Outlook: BTC demand vs. bond yields (Japan & UST focus), overview of the "big beautiful bill," BTC vs. Gold supply/demand.Key Economic Indicators: FOMC Minutes (Wednesday), Initial Jobless Claims (Thursday), PCE Data (Friday).Corporate Crypto Adoption: Continued corporate BTC buying, strategy insights, The Blockchain Group & Strategy.Coinbase News:Expansion of altcoin support in Germany (RPL, RSR, PENGU, REZ, ATH, SYRUP, PENDLE, L3) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we delve into the significant progress on US/China tariffs announced over the weekend, including reciprocal rate cuts effective May 14th, and discuss how crypto assets reacted during off-market hours, leading to notable moves. In the Bitcoin segment, we analyze ETF flows, question if BTC dominance has peaked, and provide an overview of the OP_RETURN proposal aiming to remove the 83-byte limit. We also touch upon the flows observed on our desk during recent market moves.For Ethereum, we explore its recent price performance and give details on the upcoming Pectra upgrade. Market-wise, we cover the recent momentum in meme coins and other assets that have lagged this year, alongside updates on key technicals and resistance levels.On the macro front, we review the April CPI data, note the absence of tariff impacts in current figures, and discuss a Republican budget bill heading for a House vote on Tuesday, which could introduce more economic stimulus later this year. We provide a crucial update on the stablecoin bill, including the Senate's rejection of the "Genius Act" and the upcoming House vote on the "Stable Act." Despite some positive developments, we consider why the market might be underpricing these and discuss revised timelines potentially pushing into 2025. We also cover recent M&A activity in the stablecoin space, such as the Mountain Protocol acquisition.Further topics include the rise of new companies building Bitcoin treasury solutions for corporates, insights from a strategy conference in Orlando, and Sol Strategies tokenizing part of their capital structure with Superstate. We also highlight Pump.fun's initiative to give back to creators.Finally, we cover major Coinbase news: the agreement to acquire Deribit, the leading crypto options exchange; the launch of 24/7 BTC & ETH futures in the US; a new Coinbase advertisement; sponsorship of the WNBA's Golden State Valkyries; and the release of over 10,000 pages of documents from our ongoing FOIA campaigns.Topics Covered:Tariffs & Global Trade: US/China tariff reductions, crypto as a weekend proxy, market liquidations.Bitcoin Deep Dive: ETF flows, BTC dominance, OP_RETURN proposal, desk flow analysis.Ethereum Insights: Price performance analysis, Pectra upgrade details.Market Dynamics: Momentum in meme coins & laggards, technical analysis, resistance levels.Macroeconomic Outlook: April CPI review, potential impact of new Republican stimulus bill.Stablecoin Legislation: Senate's "Genius Act" rejection, House "Stable Act" vote, revised timelines, market pricing.Stablecoin Sector News: M&A activity, Mountain Protocol acquisition.Corporate Crypto Adoption: Growth in BTC treasury solutions, insights from strategy conference.Ecosystem Innovations: Sol Strategies tokenization, Pump.fun creator revenue sharing.Coinbase News:Coinbase enters agreement to acquire Deribit.Launch of 24/7 BTC & ETH futures in the US.New Coinbase advertisement released.Sponsorship of WNBA's Golden State Valkyries.Release of 10,000+ pages of documents from FOIA campaigns. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we’re joined by special guest Tarun Gupta, CEO and co-founder of Coinshift, to discuss stablecoin adoption globally and his long-term vision for decentralized finance.In the market update, we highlight large inflows into BTC, CME flows up over 100% month-over-month, and a strong front-month basis at 11%. We also break down what's next for BTC and key support levels.On the macro front, we recap last week’s Non-Farm Payrolls, discuss equity market valuations, preview this week’s FOMC decision, and consider what to expect from the Milken Conference and key crypto earnings. In the news section, we cover Arizona’s rejection of a proposal to create a Strategic Bitcoin Reserve—and Schwab and Morgan Stanley's plans to launch crypto trading. We also cover the revival of virtual asset platforms with the launch of Genesis, and continued explosive growth in real-world assets (RWAs), including Telegram’s $500M tokenized bond fund and BlackRock’s BUIDL reaching $2.8B in TVL, up from $665M in March. BlackRock has also filed to tokenize a $150B Treasury trust fund on Ethereum.Onchain, we discuss Apple’s relaxation of crypto app rules—allowing Bitcoin and crypto payments, NFTs, and reduced App Store fees—and Solana’s patch of a zero-day vulnerability in its ElGamal Proof program. We close with key upcoming catalysts: the FOMC decision on May 7, and Ethereum’s Pectra upgrade also expected on May 7.Topics Covered:Special Guests:Tarun Gupta on stablecoin adoptionMarket Update: BTC inflows, CME flows +100% MoM, front-month basis at 11%, key support levelsMacro Overview: Non-Farm Payrolls, equity market valuations, FOMC expectations, Milken Conference, crypto earningsNews & Policy: Bitcoin reserve proposal rejections, Schwab & Morgan Stanley crypto plans, virtuals revival, Telegram & BlackRock RWA expansionOnchain Insights: Apple relaxes app rules, Solana patches zero-day vulnerabilityCatalysts Ahead: FOMC Meeting (May 7), Ethereum Pectra Upgrade (May 7), multiple crypto company earnings (May 8)Host:Ben Floyd, Head of Execution ServicesSpeakers:David Duong, Head of Institutional ResearchBrock Miller, Senior Staff Software EngineerJoshua Pak, Senior CES Sales TraderCoinbase News:MANTLE-USD, WLD-USD available on Coinbase Exchange and Advanced Trade Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we dive into the latest EY Digital Assets Survey and what it reveals about institutional sentiment: 85% of respondents increased their crypto allocations in 2024—and nearly the same expect to do so again in 2025. We unpack which assets are in focus, the critical role of regulation, and how institutions are beginning to engage with DeFi.On the market side, ETF inflows remain strong, especially into IBIT, with ETH reversing its outflows from the previous week. We analyze current holder trends and potential upside scenarios. We also look at Bitcoin's increasing correlation with gold and how it's behaving around key geopolitical headlines.In macro, we touch on updates from the White House and key economic prints—JOLTs, ADP, GDP, and the BoJ rate decision—all leading up to Friday’s NFPs.In the news section, we discuss BTC treasury trends at 21 Capital and explore Solana-based DeFi treasury entities like Upexi and DeFi Development Corp.Onchain, we review the implications of EIP-9698, early signs of renewed strength in ETH signals, and the Loopscale exploit. We also note Monero-BTC swap developments and DeFi TVL climbing back above $100B.We close with key upcoming catalysts to watch: Friday’s Non-Farm Payrolls, the May 7th FOMC decision, and Ethereum’s long-awaited Pectra upgrade.Topics Covered:Institutional Trends: EY Survey highlights, asset preferences, regulatory priorities, and DeFi participationMarket Update: IBIT-led ETF inflows, ETH reversal, BTC holders & gold correlationMacro Overview: White House, JOLTs, ADP, GDP, BoJ, and NFPs outlookNews & Earnings: BTC treasury strategy at 21 Capital, Solana-based DeFi treasuriesOnchain Insights: EIP-9698, ETH revival signals, Loopscale exploit, and TVL growthCatalysts Ahead: Non-Farm Payrolls (May 3), FOMC & Ethereum Pectra Upgrade (May 7)Host: Ben Floyd, Head of Execution ServicesSpeakers: David Duong, Head of Institutional Research Brock Miller, Senior Staff Software EngineerJoshua Pak, Senior CES Sales TraderCoinbase NewsCBAM BTC Yield Fund: A conservative Bitcoin strategy targeting 4–8% net annual returns over a market cycle, with subscriptions and redemptions in BTC.UK Web3 Accelerator Launch: Coinbase joins Fabric Ventures, Animoca Brands, and Founders Factory to launch a new UK-focused Web3 accelerator.Coinbase x PayPal Partnership: Coinbase expands its PayPal partnership to support seamless 1:1 PYUSD-USD conversions and explore new onchain use cases.Coinbase International Exchange Q1 Recap: Highlights from Q1 performance and key growth initiatives planned for Q2 2025.LinksEY-Parthenon Digital Assets Strategy Report Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we explore BTC’s continued strength—driven by ETF inflows, its digital-gold narrative and favorable option skew—while ETH sees institutional outflows. We highlight strong performances from AI-linked tokens like Render, FET, and TAO, and discuss how crypto has outpaced equities since Liberation Day.In macro, we unpack the potential for BTC decoupling, rising political influence on monetary policy, the IMF’s global growth downgrade, and implications of a weaker U.S. dollar. We also assess the impact of upcoming key data releases like PCE and JOLTs, and what they signal for risk assets.Our research team dives into what defines a crypto bear market, how today’s market compares to prior cycles, and what VC funding trends reveal beyond just price action.In industry news, we cover Circle’s launch of a new B2B payments and remittance network, its reported application for a banking charter, and comments from Charles Schwab’s CEO on the potential rollout of spot crypto trading in the next 12 months.Onchain, we provide updates on Ethereum’s upcoming Pectra upgrade, Vitalik’s proposal to shift Ethereum’s EVM to RISC-V, and the growing momentum in tokenized treasuries, now topping $6B in onchain TVL.Finally, we share the latest from Coinbase, including the launch of XRP futures through Coinbase Derivatives, our new brand campaign, and upcoming institutional events covering Ethereum's roadmap and crypto-AI convergence.Topics Covered:Market Trends: BTC ETF inflows, ETH outflows, AI token strength, and BTC vs SPX performance since Liberation DayMacro Outlook: BTC decoupling potential, politicized monetary policy, IMF forecast cuts, USD weakness, PCE & JOLTs dataResearch Insights: Are we in a crypto bear market? VC activity and long-term indicatorsIndustry News: Circle’s B2B launch, banking ambitions, and Schwab’s spot crypto outlookOnchain Developments: Ethereum Pectra upgrade, RISC-V proposal, and tokenized treasuries growthCoinbase Updates: XRP futures live, new Coinbase ad, Bloomberg coverage, and two upcoming webinars on Pectra and AIHost: Ben Floyd, Head of Execution ServicesSpeakers: David Duong, Head of Institutional Research Brock Miller, Senior Staff Software Engineer Greg Sutton, Senior CES Sales TraderLinks:Coinbase's Latest 'Advert - System > updated'Coinbase Derivatives, LLC now offers CFTC-regulated futures for $XRPRegister for our webinar on 24th April to discuss the convergence of crypto and AI and what growth trends to watch in 2025Register for our upcoming webinar on April 29th with Coinbase Institutional's team on Pectra UpgradeLauren Abendschein, our Global Head of Sales, joined BloombergTV to discuss stablecoins, emerging regulatory clarity, and the significant opportunities for institutions in the APAC region Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week we have Sarah Williamson (Coinbase Institutional’s Head of Financing Trading) joining us as a special guest. While optimism remains in short supply due to tariffs, we are seeing improving market structure around bitcoin and other key crypto assets. In this episode, we analyze recent derivatives performance, including sideways perp funding rates and emerging opportunities in options skew as well as the collapse in Mantra’s OM tokens. Meanwhile, the macro environment demands caution amid the current liquidity crunch, even though we see some opportunistic buying from crypto natives at the margin while onchain data has revealed some steady bitcoin accumulation by long-term holders since the end of February. We evaluate the proximity of a recession through the lens of mortgage loan demand, DeFi borrowing rates, and volatility-management strategies. Don’t miss this episode as we look at how crypto and macro markets are shaping up for the month.Host: David Duong, CFA - Head of ResearchSpeakers:Georg Toropov, Senior CES Sales TraderSarah Williamson, Head of Financing TradingLinks:Monthly: How Do You Define a Crypto Bear Market?The Ultimate Guide to Ethereum’s Pectra UpgradeMarket Technicals: March 2025 Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we dive into the evolving crypto and macro landscape—starting with the latest market signals: BTC dominance climbs to 69%, perp funding turns negative, and BTC options remain cautiously bearish. We also break down technical levels to watch, institutional flow trends, and how global equity valuations are influencing crypto sentiment.On the macro front, rising US-China uncertainty continue to take center stage. We assess potential ripple effects from escalating tariffs, a weakening yuan, and the PBOC’s monetary posture.In industry news, Ripple makes a $1.2B acquisition, and Apollo backs Plume’s push into tokenized assets. Onchain, stablecoin growth pauses while infrastructure protocols reclaim top revenue spots.We also share Coinbase updates: the May 9 launch of 24/7 derivatives trading, upcoming XRP futures, and progress in tokenized fund access through WisdomTree Connect.Topics Covered:Market Metrics: BTC dominance at 69%, flat-to-negative perp funding, bearish skew in options, and COIN50 reboundMacro Trends: China tariff escalation, yuan devaluation risk, Fed expectations and SPY valuation divergencesIndustry News: SEC stablecoin guidance, Ripple’s $1.2B deal, Apollo’s investment in Plume, and fundraises from Blackbird & CapOnchain Insights: Stablecoin growth stalls, Aave vote for Pendle PT as collateral, memecoin activity falls relative to overall DEX volumesCoinbase Updates: Derivatives launch (May 9), XRP Futures (Apr 21), WisdomTree tokenized funds, ML & Blockchain SummitUpcoming Catalysts: CPI + Jobless Claims (Thurs), FTX distributions (May 30), Pectra upgrade (end of April)Host:Ben Floyd, Head of Execution Services Speakers:David Han, Research AnalystGeorg Toropov, Senior CES Sales TraderLinks:Coinbase Derivatives is targeting May 9th to enable 24x7 trading for Bitcoin and Ether futures.XRP Futures likely to go live on April 21stWisdomTree Connect: 13 Tokenized Funds Now Available Across Base, Ethereum, Arbitrum, Avalanche and OptimismMachine Learning and Blockchain research summit on Thursday 8th MayCoinbase Blog - Unlocking Government Efficiency with Crypto and Blockchain Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we explore Fasanara’s approach to trading—how they identify inefficiencies, their evolving strategies, and what’s next for their platform. We also break down the latest market trends, including perp funding rates, ETF flows, and COIN50 index performance.Beyond markets, we dive into macro updates, covering Tariff Liberation Day on April 2nd, weaker JOLTs numbers, and expectations for non-farm payrolls. In  tokenization developments, we discuss Visa’s Tokenized Asset Platform, Mastercard’s blockchain-powered payment network, and the evolving stablecoin landscape.In the onchain section, we track TVL changes across major protocols, Ethereum’s DEX dominance over Solana, and Walrus Storage’s mainnet launch. Finally, we highlight key upcoming catalysts, including the FTX claims process starting on May 30th and broader market implications.Topics Covered:Fasanara’s Trading Strategies: How they identify market inefficiencies and their future plans.Market Update: Perp funding rates, ETF flows, and technical levels for BTC, ETH & key indices.Macro Outlook: Liberation Day impact, JOLTs data, and Non-Farm Payrolls expectations.Regulatory & Industry News: Visa’s tokenization plans, Mastercard’s blockchain network, and stablecoin legislation.Onchain Insights: TVL shifts, Ethereum vs. Solana DEX volumes, and Walrus Storage live on mainnet.Upcoming Catalysts: Tariff Liberation Day (April 2nd) and FTX large claims process (May 30th).Host: Ben Floyd, Head of Execution ServicesSpecial Guest:Alessandro Balata, Partner and Portfolio Manager at Fasanara DigitalSpeakers:David Duong, Head of Institutional ResearchDavid Han, Research AnalystGeorg Toropov, Senior CES Sales TraderLinks:Coinbase Derivatives, LLC now offers CFTC-regulated futures for Natural Gas and Cardano $ADACoinbase open-sources our multiparty computation (MPC) cryptography library, setting a new industry benchmark for cryptographic transparency.Greg Tusar, Coinbase Head of Institutional Product joins Capital Decanted discuss whether a pro-crypto US administration will spur increased institutional adoption in the world’s largest market.Max Branzburg, head of consumer talks about how crypto has evolved on the Tear Sheet PodcastCoinbase Institutional Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, the team is joined by Brock Miller, Senior Staff Software Engineer, to discuss Coinbase Verified Pools—why we launched it, how it works, and what’s next. We also break down the latest market trends, including perp funding rates, ETF flows, and the SOL futures ETFs.Beyond markets, we dive into macro updates, covering the April 2nd tariff announcement, the Fed's QT adjustment, and key earnings to watch in April. Onchain, we look at the continued growth in stablecoins, BUIDL’s expansion to Solana, and new activity on Pumpswap and Polymarket. Finally, we highlight major Coinbase updates, including our Ethereum Validator Performance Report and a new institutional investor survey showing increasing crypto adoption. Check the show notes for all links.Topics Covered:Coinbase Verified Pools: Why we launched it and what’s next.Market Update: Perp funding, ETF flows, and technical levels for BTC, ETH & SPX.Macro Outlook: April 2nd tariff news, Fed QT slowdown, and key earnings ahead.Onchain Insights: Stablecoin growth, BUIDL expansion, and Solana’s DeFi shifts.Coinbase Updates: Ethereum validator report & institutional investor trends.Upcoming Catalysts: Pectra Hooli upgrade (March 26) and April 2nd macro events.Host:Ben Floyd, Head of Execution ServicesGuest:Brock Miller, Senior Staff Software EngineerSpeakers:David Duong, Head of Institutional ResearchDavid Han, Research AnalystGreg Sutton, Senior CES Sales TraderLinks:Ethereum Validator Performance ReportCoinbase Institutional Investor SurveyVerified Pools Announcement Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, host Ben Floyd is joined by David Duong and Joshua Pak to break down the latest market action and key developments shaping the crypto landscape.We start with an overview of market trends, including ETF flows, basis, funding rates, CEX vs DEX volumes, and sector winners and losers. Then, we move into macro updates, discussing the CPI, the Fed’s next steps, GDPNow forecasts, and regulatory shifts—including growing support for The BITCOIN Act.Onchain, we highlight Solana’s five-year milestone, including some protocol highlights, and the latest in tokenized real-world assets. Finally, we wrap up with key catalysts to watch.We also celebrate four years of Coinbase Prime, our best-in-class platform that thousands of institutional clients use to trade, stake, finance, and custody crypto at scale. Coinbase also launched Coinbase for Governments to help bring them onchain.Topics Covered:Market Trends: ETF outflows, AI & memecoin sector moves, and BTC/ETH key levels.Macro & Regulation: Fed policy outlook, GDPNow, and crypto legislation updates.Onchain Insights: Solana’s five-year growth, ETH-based RWA inflows, and major protocol updates.Upcoming Catalysts: Key economic events, protocol launches, and Nvidia’s GTC conference.Host: Ben Floyd, Head of Execution ServicesSpeakers: David Duong, Head of Institutional Research Joshua Pak, Senior CES Sales TraderLinks:Coinbase Institutional ResearchCoinbase for GovernmentsLatest Coinbase Advertisement Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, host Ben Floyd is joined by David Duong, David Han, and Greg Sutton to break down the latest market action and what’s on the horizon. We kick off with insights from our interview with Man AHL (Part of Man Group's Systematic Investment Business), exploring their approach to trend following and their evolving crypto strategy. From there, we dive into the macro landscape, reviewing the market movers of the past week, key support and liquidation levels, and what they signal for future price action. Onchain, we cover Ethereum’s Pectra upgrade, stablecoin supply growth, and the surprising decline in DEX volumes.To wrap up, we outline the most important upcoming catalysts that could shape market sentiment — plus, we’ve linked some essential reading from Man AHL and Coinbase Institutional Research in the show notes.Topics Covered:Man AHL Insights: Trend following strategies and crypto adoption.Macro & Market Movers: What’s been driving volatility and key levels to watch.Ethereum & DeFi: The Pectra upgrade, stablecoin expansion, and DEX activity.Catalyst Watch: Upcoming events and protocol changes that could move markets.Special GuestsTarek Abou Zeid, Partner at Man AHL and Global Head of Client Portfolio ManagementAndre Rzym, Partner and Portfolio Manager at Man AHLHost:Ben Floyd, Head of Execution ServicesSpeakers:David Duong, Head of Institutional ResearchDavid Han, Research AnalystGreg Sutton, Senior CES Sales TraderLinks:An Investors Guide to Crypto - Man AHLIn Crypto We Trend - Man AHLCoinbase Institutional Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, host Ben Floyd is joined by David Han and Georg Toropov to navigate a tough crypto landscape. We break down Solana’s sharp decline—down nearly 50% from its highs—Ethereum nearing a death cross, and extreme fear gripping the market amidst over $1B in ETF outflows and widespread liquidations. We also cover the Bybit hack and its ripple effects across trading activity.On the onchain side, we dive into the drop in Solana DEX volumes, Pump.fun’s plan to launch its own AMM, and a wave of more recent mainnet launches from the likes of Berachain and Story, as well as Monad’s testnet debut.Meanwhile, macro factors add to the uncertainty, with rate cuts unlikely before summer. Client conversations reveal a lack of clear near-term catalysts with significant legislation potentially taking months to materialize. But we finish on a high note—Ethereum’s RWA market is growing in both value and adoption, even as the Pectra testnet hits delays.Links:Coinbase Research2025 Crypto OutlookTopics Covered:Market Weakness: SOL’s drop, ETH’s death cross risk, ETF outflows, and liquidations.Security Incident: The Bybit hack and market response.Onchain Activity: Solana DEX struggles, Pump AMMs, and major protocol launches.Macro & Sentiment: Delayed Fed cuts, client sentiment, and regulatory hurdles.Ethereum Outlook: Pectra testnet hiccups, but RWA growth as a bright spot.Host:Ben Floyd, Head of Execution ServicesSpeakers:David Han, Research AnalystGeorg Toropov, Senior CES Sales Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we discuss bitcoin's range-bound trading and what upcoming option expiries might mean for price action. Additionally, the episode covers Solana's recent selloff, driven by concerns over memecoin launches and upcoming unlocks. FTX will begin repaying smaller creditors this week, which could have a positive impact on markets. We also review recent ETF applications and what their impact on spot trading flows may be. Lastly, David Han takes us through staking ETFs and potential changes at the CFTC.Links:Coinbase Research2025 Crypto OutlookTopics Covered:BTC option expiriesSolana price actionFTX repaymentsStaking ETFsHost: Joshua Pak, Senior CES TraderSpeakers:David Han, Research AnalystGregory Sutton, Senior CES Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we discuss the dip in the crypto markets and welcome Ejaaz Ahamadeen, ex-Product Manager at Coinbase and founder of 26 Crypto Capital, who shares his insights on the AI agents sector. Ejaaz delves into the significance of crypto AI agents versus centralized services, navigating the intricacies of emerging subsectors, and addressing practical challenges like AI hallucination. Additionally, the episode covers major trading updates, including corporate investments and ETF flows, plus some regulatory news. We also look at recent stablecoin growth and offer a comprehensive view of current market dynamics and future trends. Finally, we tackle market innovations such as Uniswap Labs’ new Layer-2 ‘Unichain’ as well as Lido’s vault upgrades.Links:Coinbase Research2025 Crypto OutlookTopics Covered:AI agents: Why they matter and where’s the value accrualTrading Trends: Some large scale corporate purchases of crypto, changes in perp volume dominanceOnchain Updates: Launch of L2 Unichain, Lido vault upgradesHost: David Duong, Head of Institutional ResearchSpecial Guest: Ejaaz Ahamadeen, 26CCSpeakers:Joshua Pak, CES TraderDavid Han, Research Analyst Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, host Ben Floyd is joined by David Duong, David Han, and Greg Sutton to break down the latest macro and crypto market movements. We’ll dive into the impact of new tariffs on crypto, how the Fed might respond, and the key data points policymakers are watching next. We’ll also analyze weekend trading activity and BTC’s continued outperformance, alongside ETH’s relative weakness and overall funding rate trends.David Sacks’ press conference on a potential Bitcoin strategic reserve continues discussion on the role of BTC in national reserves, and we’ll also explore the broader implications of a potential U.S. sovereign wealth fund.On the onchain front, we’ll refresh on Ethereum’s Pectra upgrade, the implications of increasing validator balances, and the recent gas limit vote. We’ll also cover ETH’s inflation rate nearing BTC’s, Uniswap V4’s structural improvements, and the growing stablecoin supply, with $3B added this week—$2B on Ethereum alone. Finally, we compare DEX volumes to gauge onchain liquidity shifts.Links:Coinbase Research2025 Crypto OutlookTopics Covered:Macro & Markets: Tariff impact, Fed expectations, and key economic signals.Trading Trends: BTC strength on pullbacks, ETH underperformance, and weekend activity.Onchain Updates: Ethereum’s Pectra upgrade, validator changes, and gas limit vote.Stablecoin & DEX Activity: Supply growth and liquidity trends.Uniswap V4: Programmable hooks, improved routing, and liquidity migration patterns.Host: Ben Floyd, Head of Execution ServicesSpeakers:David Duong, Head of Institutional ResearchDavid Han, Research AnalystGreg Sutton, Senior CES Sales Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we explore the evolving crypto landscape with regulatory updates, major market movements, and macroeconomic insights. The SEC sees changes with Mark Uyeda and Hester Peirce taking center stage, while the SAB 121 repeal opens new opportunities for banks holding crypto. The CME teases potential futures for SOL and XRP, and BlackRock files for in-kind redemptions on its spot BTC ETF (IBIT).We analyze the market reaction to Deepseek's launch, which topped Apples's U.S. App Store and led a repricing of many AI- linked assets. Corporate crypto buying also continues as Metaplanet announces a $745M raise to purchase BTC and MicroStrategy adds $1.1B in BTC, supported by a bold $2B perpetual strike preferred stock offering. ETF inflows surge to $1.9B, showcasing sustained institutional interest.On the macro front, we preview tariff updates, the FOMC meeting, and December PCE data. In the Ethereum ecosystem,  the Ethereum Foundation has allocated 50K ETH to DeFi protocols, with Paradigm calling for quicker network upgrades. The Pectra upgrade also receives a tentative March 11 release date. Finally, we spotlight Jupiter's market outperformance driven by its buyback plans and Moonshot acquisitions.Links:Coinbase Research2025 Crypto OutlookTopics Covered:Regulatory Updates: SEC leadership changes and SAB 121 repeal implications.Market Movers: Deepseek's impact, CME futures possibilities, and IBIT's filing for in-kind creation and redemptions.Corporate Activity: Metaplanet's raise, MicroStrategy's BTC purchase, and ETF inflows.Macro Overview: Tariff and FOMC previews, PCE data implications.Ethereum Update: Pectra update and Paradigm's push for faster upgrades.Jupiter's Surge: Buyback plans and Moonshot investment.Host:Ben Floyd, Head of Execution ServicesPanelists:David Han, Research AnalystGeorg Toropov, Senior CES Sales Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We unpack the explosive market moves as Bitcoin hits a new all-time high of $110K and Solana reaches $293 as crypto welcomes President Trump. TRUMP Coin’s debut contributed to the market frenzy, while COIN50 posted an impressive 8.74% weekly gain, signaling strong momentum as new users flood into the crypto space.We provide a financing overview, highlighting DeFi lending growth on Solana, funding rate fluctuations, and weekend liquidations. Onchain activity breaks records with DEX volumes at all-time highs, despite some network degradation and Ethereum’s leadership reshuffle. The team also runs through Coinbase’s partnership with Morpho in the U.S. that now allows clients to take USD loans using DeFi protocols secured by their Bitcoin, marking a significant innovation in crypto-backed lending.ETF inflows soar with $2B in Bitcoin ETFs and $213M in Ethereum ETFs, alongside MicroStrategy’s bold addition of $1.1B in BTC.On the macro front, we preview the upcoming Fed meeting and discuss its implications for crypto markets.Topics Covered:Market Highlights: BTC & SOL ATHs, Trump Coin launch, and COIN50’s strong performance.Financing Trends: DeFi lending on Solana and funding rate insights.On-Chain Activity: Record DEX volumes, network challenges, and Ethereum’s leadership changes.ETF and Corporate Moves: Large inflows and MicroStrategy’s BTC holdings.Macro Preview: Key updates ahead of the Fed meeting.Links:Coinbase Research2025 Crypto OutlookLiquid Staking WebinarHost: Ben Floyd, Head of Execution ServicesPanelists: David Duong, Head of Institutional Research David Han, Research AnalystZaid Khan, Head of EMEA Financing  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This episode unpacks the latest developments in crypto markets as corporates like Intesa Sanpaolo and Genius Group join the Bitcoin buying wave, with MicroStrategy’s premium holding steady at 1.91. We also highlight Tether’s move to El Salvador and the growing traction of IBIT options, now capturing 50% of Deribit’s open interest, signaling surging institutional demand. An ETF flow update and client strategies reveal how the big players are positioning themselves for 2024.We analyze funding rates, the Ondo unlock, and how to interpret these trends in relation to market dynamics. Recent aggressive crypto acquisitions reflect growing confidence in the new regulatory environment, paired with an update on Coinbase’s Third Circuit Court of Appeals filing.On the macro front, we discuss last week’s CPI, PPI, and employment data and we explore fiscal policy outlooks, debt sustainability, and potential policy shifts shaping the economic landscape. Additionally, we discuss China’s 10Y yield dropping from 2.1% to 1.65% and it's potential impact on global liquidity.In the on-chain segment, we break down stablecoin borrow rates, with Aave at 10-11% and Sky peaking at 12.5%, alongside a surge in USDS growth (25% in the past week). Finally, we examine Sony’s L2 launch on the OP stack, signaling a shift in how corporates leverage blockchain for Web3 adoption, and the interplay between public and permissioned chains.Topics Covered:Corporate Moves: New entrants into BTC buying, MicroStrategy premium analysis.Institutional Trends: IBIT options, ETF flows, and client strategies.Funding Rates & Unlocks: How market dynamics shape strategies.Regulatory Environment: Crypto acquisitions and Coinbase court updates.Macro Update: Key data reflections, China’s stimulus, and fiscal policy outlook.On-Chain: Stablecoin borrow rates, USDS growth, and Sony’s L2 launch for Web3 corporates.Host:Ben Floyd, Head of Execution ServicesPanelists: David Duong, Head of Institutional Research David Han, Research Analyst Georg Toropov, Senior CES Sales Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we explore Bitcoin’s increasing institutional adoption, with MicroStrategy expanding its holdings and other companies considering BTC for their balance sheets. We analyze ETF flows over the past two weeks and provide a Q1 market outlook, focusing on key drivers and emerging trends. In the macro segment, we examine pro-crypto regulatory appointments, potential legislation from a crypto-friendly Congress, and the Fed's rate outlook for H1. We also discuss the implications of economic data volatility and what Canada’s potential new leadership could mean for Bitcoin. Additionally, we highlight global moves toward Bitcoin as a strategic reserve.Onchain, we delve into the growth of protocols like Morpho, Babylon, and Pendle, alongside AI agents gaining traction, with Eliza ai16z’s GitHub surpassing Google Gemini in stars. We also explore the significance of high DEX volumes and Backpack’s acquisition of FTX's EU operations, shedding light on its impact on European derivatives markets.Topics Covered:Market: Institutional BTC adoption, ETF flows, and Q1 market outlook.Macro: Pro-crypto regulatory changes, potential legislation, Fed rate trajectory, and global BTC reserves.On-Chain: Protocol growth, AI agent innovation, and European market developments through Backpack’s FTX acquisition.Host: Ben Floyd, Head of Execution ServicesPanelists: David Duong, Head of Institutional Research David Han, Research Analyst Georg Toropov, CES Sales Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we discuss Bitcoin’s breakout to a new all-time high and the factors driving it, including public companies like MicroStrategy, RIOT, and Semler continuing to stack BTC on their balance sheets. BlackRock’s recommendation of a 2% Bitcoin allocation further underscores growing institutional confidence in BTC as do conversations around global Bitcoin strategic reserves progressing in the U.S., Russia, and France. We also gather onchain insights into BTC active supply, with 4.1M BTC moving onchain in the last six months.Onchain developments include the rise of stablecoin supply, AI agents driving meme token trends, and Lido’s phased withdrawal of Polygon support. We also spotlight Pudgy Penguins' momentum and token launch with PENGU.On the macro side, we preview the upcoming Fed meeting and its potential market impact. Finally, David provides an overview of Coinbase’s crypto outlook for 2025, offering a forward-looking perspective on the year ahead.Topics Covered:Market: BTC’s all-time high, institutional moves, and BlackRock’s 2% allocation call.Strategic Reserves: Bitcoin reserve discussions across the U.S., Russia, and France.Onchain: Stablecoin growth, AI-driven memes, Pudgy Penguins' token launch, and Lido’s Polygon phase-out.Supply Trends: BTC active supply analysis and market implications.Macro: Fed meeting preview and its impact on markets.Outlook: Coinbase’s 2025 crypto market forecast.Host:Ben Floyd, Head of Execution ServicesPanelists:David Duong, Head of Institutional ResearchDavid Han, Research AnalystJoshua Pak, CES Salestrader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we break down a turbulent week in crypto markets, starting with a wave of liquidations driven by recent volatility. We explore ETF flows, contrasting ETH and BTC trends, and analyze the resilience of CME basis despite normalized funding rates.Corporate treasury expansion takes center stage as we highlight significant Bitcoin acquisitions by MicroStrategy, MARA Holdings, and others.On the regulatory front, David Sacks' new appointment sparks debate on crypto policy direction. Onchain developments include Google’s intriguing Willow project, the UK’s blocking of Pump’s frontend, and Pudgy Penguins' rise as a top NFT collection. Plus, Floki’s debut debit card marks another milestone in crypto adoption.We also review the macro outlook, previewing the upcoming CPI release and its potential ripple effects on the market.Topics Covered:Market: Liquidations, ETF updates, and CME basis trends.Client Conversations: Strategic positioning, rotation, and profit-taking.Bitcoin Miners & Treasuries: Bold moves by MARA and MicroStrategy.Macro & Regulation: CPI preview and shifting Fed leadership dynamics.Onchain Trends: Google’s qubits, NFT reshuffles, and token launches.Host: Ben Floyd, Head of Execution ServicesPanelists: David Duong, Head of Institutional Research David Han, Research Analyst Georg Toropov, Senior CES Sales Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us for an interview with Cindy Leow, co-founder of Drift, as she shares the inside scoop on their Solana-based decentralized exchange that’s making waves with its 50x leverage perpetual futures trading and BET prediction market. In markets, Greg Sutton talks about the consolidation of assets like BTC, ETH and SOL over the last week, as well as the major disruptions happening on South Korean crypto exchanges after the country’s declaration of martial law (since blocked by the national assembly). We then explore the rise of AI agents with David Han, who also discusses the massive airdrop from DeFi protocol Hyperliquid.Host:David Duong, Head of Institutional ResearchPanelists:David Han, Research AnalystGreg Sutton, CES Sales TraderDon’t miss this episode packed with market analysis, macro insights, and cutting-edge onchain trends.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we delve into Bitcoin's march toward $100K, analyzing market flows, technical drivers, and ETF developments, including the impact of 13F filings and the launch of ETF options. We also spotlight the strength in XRP tied to ETF applications and discuss key macro shifts, including Trump's Cabinet picks, Gary Gensler's exit from the SEC, and what it all means for crypto. David Duong covers the upcoming Fed meeting and its implications, while David Han provides an onchain update on long-term Bitcoin holders and the rise of meme tokens.Don’t miss this episode packed with market analysis, macro insights, and cutting-edge onchain trends.Topics Covered:Market Update: BTC's rally, ETF flows, 13F surprises, and XRP’s surge.Macro Shifts: Fed meeting preview, Trump's crypto impact, and regulatory updates in the U.S. and U.K.Onchain Update: Insights into BTC holders' strategies and meme innovation.Host:Ben Floyd, Head of Execution ServicesPanelists:David Duong, Head of Institutional ResearchDavid Han, Research AnalystGreg Sutton, CES Sales Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we analyze the latest crypto market trends, highlighting BTC’s rally, standout tokens like SOL and XRP, and increased corporate adoption. Joe Flanagan, Co-Founder of Maple Finance, joins us to discuss the platform’s transition to secured lending, expansion into new borrower sectors, and the introduction of their governance token, SYRUP. We also explore the launch of IBIT options, examining how they could enhance liquidity, improve risk management, and offer strategic flexibility for investors. Don’t miss this episode packed with market updates, institutional trends, and deep dives into DeFi innovation.Topics Covered:Market Update: BTC and altcoin movements, corporate BTC adoption, and ETF flows.Maple Finance Insights: Its transition to secured lending, its long-term plans for expansion, and its SYRUP token launch.IBIT Options: Implications for liquidity, risk management, and portfolio strategies.Host:Ben Floyd, Head of Execution ServicesSpecial Guest:Joe Flanagan, Co-Founder and Executive Chairman of Maple FinancePanelists:David Duong, Head of Institutional ResearchDavid Han, Research Analyst Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we dive into the major market movers, examining shifts in onchain BTC activity as long-term holders start to potentially position to take profits and funding rates hit extreme levels. Rachel Ziv provides the latest insights on the Coinbase financing business, including current trends in the fluctuating cost of capital. Special guest John D’Agostino, Senior Adviser to Coinbase, introduces the Coin50 Index, explaining its methodology, potential impacts, and its future role in shaping crypto portfolio strategies. David Duong delivers a macroeconomic update covering CPI, retail sales, and insights into what the Fed may do next. Onchain specialist David Han provides a breakdown of Beam Chain, as highlighted by the Ethereum Foundation’s Justin Drake, along with the latest from the Base ecosystem. Don’t miss this packed episode full of expert analyses, innovative tools, and essential market data.**Host:**Ben Floyd, Head of Execution ServicesSpecial GuestsJohn D’Agostino, Senior AdviserRachel Ziv, Senior Financing TraderPanelistsDavid Duong, Head of Institutional ResearchDavid Han, Research Analyst Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Trump’s victory in the 2024 US presidential election has been a significant catalyst for the crypto market in recent days. Following the election results, bitcoin reached a new all-time high exceeding $75,000, along with substantial gains in other cryptocurrencies such as ETH, SOL, and DOGE. This surge is attributed to bullish market sentiment and re-risking by traders. Moreover, the election has led to a more crypto-friendly Congress, enhancing optimism around regulatory clarity.  In this podcast, Ben Floyd, David Duong, Greg Sutton and David Han discuss some of the regulatory and policy implications of a Trump presidency. They also talk about the Federal Reserve decision, the Ethereum Foundation’s report, Solana trading ecosystem profits, and the recent spike in stablecoin supply.**Host:**Ben Floyd, Head of Execution Services**Panelists:**David Duong, Head of Institutional ResearchDavid Han, Research AnalystGreg Sutton, CES Sales TraderDon’t forget to like and subscribe.Links:Stand with CryptoReflections on the election through a crypto lensCoinbase Research  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we kick off with an exclusive interview featuring Coinbase’s Head of US Policy Kara Calvert about how the upcoming election could reshape the crypto regulatory landscape. Don’t miss her outlook on the future of crypto policy under different political scenarios.Our expert panel also breaks down bitcoin’s latest price movements, US spot ETF inflows, and the shifting dynamics between ETH and SOL. David Duong walks us through a busy earnings season, focusing on major market movers like Apple, Google and Microsoft, while highlighting key macro drivers. David Han wraps up the episode with an analysis of the rising traction in Solana and Base DEX volumes.**Special Interview with Kara Calvert:**- How crypto regulation might unfold under Trump vs Harris.- The possibility of leadership changes at different executive agencies.- The shape of crypto policy over the next two years.**Market Update with Joshua Pak:**- CME open interest trends, spot bitcoin ETF inflows, and trading desk flows.- Unlock updates and the divergence between ETH and SOL.- Onchain revenue trends and correlations to BTC.**Macro Insights with David Duong:**- Earnings updates: Apple, Microsoft, Amazon, Google, and Meta—impacting nearly a quarter of the S&P 500.- Key economic indicators: Non-farm payrolls and JOLTs report insights.**Onchain Section with David Han:**- Blobs developments & Pectra upgrade- Traction update on Farcaster.- Solana DEX volumes up +19% WoW and Base DEX growth at +15% WoW.**Host:**Ben Floyd, Head of Execution Services**Panelists:**David Duong, Head of Institutional ResearchDavid Han, Research AnalystJoshua Pak, CES Sales TraderLinks:Stand with CryptoQ4 Guide to Crypto MarketsCoinbase Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, our expert panel explores the latest market trends, including CME fund flows, Bitcoin ETF inflows, and altcoin performance. We dive into Stripe’s strategic acquisition of Bridge, election positioning in crypto markets, and Fed Governor Christopher Waller’s positive comments on DeFi’s potential role alongside centralized finance. Stay tuned for insights on token governance, onchain updates, and the rise of a new memecoin sensation.Topics Covered:Market Update: Record open interest at CME, $2B Bitcoin ETF inflows, and altcoin market dynamics.Election Positioning: A look at funding rates, option skew and a discussion on how traders are preparing for election outcomes.Regulatory Updates: The SEC’s approval for more Bitcoin ETF options and its impact on market sentiment.Stripe Acquires Bridge: Analysis of what this acquisition means for crypto adoption and why it fits into Stripe’s strategy.Polymarket Odds: Current election odds, questions of market manipulation, and implications for crypto trading.Macro Insights: Fed Governor Waller’s remarks on DeFi’s complementary role, plus key macro indicators like next week’s JOLTS and NFP reports.Onchain Trends: Updates on the Pectra upgrade, Scroll’s launch, and governance developments across Maker, Uniswap, and ENS.Memecoin Spotlight: The meteoric rise of a new GOAT memecoin, now valued at $400 million.Host:Ben Floyd, Head of Execution ServicesPanelists:David Duong, Head of Institutional ResearchDavid Han, Research AnalystGreg Sutton, Senior CES Sales TraderLinks:Q4 Guide to Crypto MarketsCoinbase Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, our expert panel dives into the BTC rally (testing the critical $68k mark) and the strong inflows into US spot BTC ETFs. We also explore key developments such as the Unichain announcement (from Uniswap), the growth of Base across multiple metrics, and the Coinbase Q4 Guide to Crypto Markets report.Topics Covered:BTC ETF Inflows: How BTC’s rally is influenced by ETF demand.Unlocks: Breaking down unlocks including TIA and EIGEN, and their potential market impact.Financing Market Trends: Zaid examines shifts in perpetual futures markets, funding rates, CME basis, liquidations, and other signs of leverage re-entering the market.CME & DeFi Funding: Exploring CME basis changes and funding rates in CeFi and DeFi sectors.Uniswap announces Unichain: What it is and what this means for liquidity migration and token-holder value.Q4 Crypto Report Highlights: Key takeaways on stablecoins, Ethereum, and Bitcoin L2s, and standout charts from our partners.Macro Insights: China’s stimulus effects, US earnings, and Polymarket election odds’ market impact.Onchain Trends: Base growth in TVL, DEX, and stablecoin volumes.Gaming Spotlight: “Off the Grid” (using Avalanche subnet) tops Epic Game Store charts.Be sure to like, subscribe, and check out the team’s research for more insights.Host: Ben Floyd, Head of Execution ServicesPanelists:David Duong, Head of Institutional ResearchDavid Han, Research AnalystGeorg Toropov, CES SalestraderZaid Khan, Senior Prime Financing Sales TraderLinks:Q4 Guide to Crypto MarketsCoinbase Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, our panel unpacks key updates including the anticipated FTX repayment schedule and the latest regulatory developments, while also discussing broader macroeconomic trends.Topics Covered:Risk Overview: Josh starts by providing analysis of the current risk picture, focusing on perp funding rates, basis, volumes, and institutional interest in the market.FTX Repayments: A detailed look at the FTX repayment timeline, and what impact that could have on the market.Macro Overview: David Duong recaps key macro themes, including last week’s NFP data, the upcoming inflation report, and the diminishing effects of China’s stimulus on global markets. He also talks through what he thinks the market will focus on next.Onchain Insights: David Han discusses high ETH transaction fees, increased onchain DEX volumes (centered on ETH and SUI), and updates on EIP 7782.Make sure to like, subscribe, and check out the team’s research in the show notes for deeper insights into these developments!Host: Ben Floyd, Head of Execution ServicesPanelists:David Duong, Head of Institutional ResearchDavid Han, Research AnalystJoshua Pak, CES SalestraderLinks: Coinbase Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we explore the latest movements in the crypto market, including Kamala Harris’ recent mention of digital assets and its potential impact on regulation. Our expert panel breaks down the dynamics driving ETF flows, funding rates, and key macro trends influencing the market.Topics Covered:Market Overview: Georg Toropov kicks off with a comprehensive market update, highlighting ETF flows, funding rates, and the major movers shaping today's crypto landscape.Kamala Harris & Digital Assets: We discuss Kamala Harris’ recent mention of digital assets and and the potential regulatory implications for the crypto space.Flows & Unlocks: Georg provides insights into hedge fund activity and key upcoming token unlocks, including SUI, ZETA, and TIA.Mt. Gox Distribution: David Duong updates us on the timeline for the Mt. Gox distribution, with ~45k BTC still to be released and uncertainty surrounding the exact timing.Macro Outlook: David Duong gives a detailed macroeconomic analysis, covering Middle East tensions, the Fed’s hawkish stance, and important economic indicators like JOLTS and the upcoming non-farm payrolls report.Onchain Update: David Han wraps up with an onchain update, covering the rise in ETH fees, an overall increase in onchain activity, and the EigenLayer token unlock.Make sure to like, subscribe, and check out the team’s research in the show notes for deeper insights into these developments!Host: Ben FloydPanelists:David Duong, Head of Institutional ResearchGeorg Toropov, Senior CES TraderDavid Han, Research AnalystLinks: Coinbase Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we welcome Ralph Achacoso, CIO of Factor6 Capital, to dive deep into the intersection of Bitcoin mining and AI, discuss takeaways from Token49, and explore broader market movements and trends in the digital asset space. Our panel covers everything from ETF flows and funding rates to the potential launch of IBIT options, offering an insightful and timely discussion for crypto investors.Topics Covered:Market Overview: We kick off with a quick market update, covering ETF flows, funding rates, and key movers shaping the market.BTC Miners and AI Integration: We explore how BTC miners are engaging with AI, as well as the challenges and barriers of AI implementation in mining.AI x Crypto: Ralph shares how he thinks about AI x Crypto and where value could accrue.IBIT Options Overview: The panel discusses the potential launch of IBIT options, comparing them with the BITO options available today, and Ralph provides his expert perspective.Token 49 Rundown: David Duong gives a detailed breakdown of Token 49 discussions, highlighting key takeaways and what to watch out for.Macro Outlook: With recent Fed actions, David Duong provides a broader market outlook and what investors should expect moving forward.Onchain Developments: David Han wraps up with a look at the latest onchain activity, including developments around Ethereum's Pectra upgrade and  Wrapped Bitcoin.Make sure to like, subscribe, and check out the links to our research in the show notes for deeper insights.Host: Ben Floyd, Head of Execution ServicesGuest: Ralph Achacoso, CIO of Factor6 CapitalPanelists: David Duong, Head of Institutional ResearchGreg Sutton, Senior CES TraderDavid Han, Research AnalystLinks: Coinbase Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we sit down with Jim Hiltner, co-founder of Superstate, to explore the cutting-edge intersection of traditional finance and decentralized finance. Jim provides insights into the founding of Superstate, the company's long-term vision, and an in-depth overview of their innovative products, including USCC, their carry product. We delve into the nuances of market behavior, such as why term futures can be positive when perpetuals are negative, and discuss who their clients are, how they navigate regulatory challenges, and the exciting opportunities they see on the horizon.1:00 Basis and funding rate updatesInterview Highlights:3:30 Superstate's Origins and Vision: Jim shares the story behind founding Superstate and the company's long-term goals in the evolving financial landscape.7:50 Product Overview: A detailed look at Superstate's product offerings, with a special focus on USCC.18:40 Market Mechanics: Exploring why term futures can sometimes be positive when perpetual futures are negative, and what this means for their clients.23:00 Regulatory Strategy: How Superstate approaches regulation today and anticipates future changes.27:00 Technology and Future Opportunities: An inside look at Superstate's tech stack and where they see the next big opportunities in the market.Market Color:34:41 13F Filings Summary: A review of the latest 13F filings and the rise in investment advisors.38:07 ETF Updates: The latest flows in the Bitcoin and Ethereum ETFs.39:10 BTC Mining & AI: Updates on the Bitcoin mining sector and the integration of AI.Political Climate Update:41:30 DNC Insights: An update on the current political landscape and its implications for the crypto industry.Macro Update:42:20 Jackson Hole & Fed Minutes:insights: What to look out for from Jackson Hole and in the Fed Minutes44:02 Rate Cut Expectations: A discussion on the evolving expectations for rate cuts.Onchain Developments:44:32 MKR wBTC Vote: Updates on the MakerDAO wBTC vote.46:15 Eigenlayer Updates: Thoughts on the two recent developments from the Eigenlayer project. This episode is packed with expert insights, timely updates, and strategic discussions essential for anyone navigating the rapidly evolving world of digital assets. Whether you're an investor, a market enthusiast, or simply interested in the latest trends in DeFi, this conversation with Jim Hintner and our expert panel offers valuable knowledge to keep you informed and ahead of the curve.Subscribe and stay informed: Don’t miss out on our continued deep dives into cryptocurrency trends, market dynamics, and pivotal developments influencing the global markets.Special Guest:Jim Hiltner, Co-Founder & Head of BD, SuperstateHost:Ben Floyd, Head of Execution ServicesPanelists:David Duong, CFA - Head of Institutional ResearchGreg Sutton, Senior CES TraderDavid Han, Research Analyst Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Melanee Hannock, the Chief Digital and Innovation Officer of ALSAC St. Jude Children’s Research Hospital, shares her background in marketing and technology and how she helped pioneer St. Jude’s acceptance of cryptocurrency donations. St. Jude first started accepting crypto as a way to tap into an emerging donor demographic and new revenue stream. Hannock discusses the key benefits as well as challenges of accepting crypto as part of their charity efforts. She also looks ahead to the growth in this sector and offers helpful guidance to other non-profits considering crypto philanthropy to support important missions, as blockchain technology becomes more mainstream.Market Movements:Later in the episode, we also discuss the latest in crypto markets. Most major coins recovered after last Monday’s sell-off, with moderate strength in BTC and ETH while altcoins have struggled to gain momentum due to inflationary unlock schedules-- albeit there have been some notable exceptions. Meanwhile, in web3, we discuss the vulnerability patch in Solana and why it got a mixed reaction from the community. Finally, we discuss our new research report on “ETH and the Rise of L2s,” where we parse the economics of blockchain scaling and the tradeoffs specific to an L2-focused roadmap.Special Guest:Melanee Hannock, Chief Digital and Innovation Officer of ALSAC St. Jude Children’s Research HospitalHost:David Duong, CFA - Head of Institutional ResearchPanelists:Georg Toropov, Senior CES TraderDavid Han, Research Analyst Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Crypto markets are moving in sympathy with other asset classes as concerns over a global recession and rising tensions in the Middle East proliferate. While prices have recovered somewhat, the uncertainty lingers. Follow our Head of Research David Duong, Senior CES Trader Georg Toropov, Head of Prime Financing Trading Sarah Williamson and Research Analyst David Han as they discuss what happened in markets, the challenges ahead for the Federal Reserve, the current financing situation and what to expect for the rest of 3Q24. They also look at the plethora of web3 and onchain developments including the latest with Eclipse, Avalanche's partnership with the California DMV, Jupiter's announcement to reduce it's JUP supply and the recent Terra hack.2:30 What’s driving the big market moves8:25 Market technicals10:25 Potential Fed response15:23 Endogenous crypto catalysts17:50 Financing update, leverage, and margin calls24:18 Crypto flows27:00 ETFs30:40 Onchain updates36:40 Jupiter cutting token supply37:54 Ethereum Pectra upgradePlease like and subscribe to our podcast and visit our research portal for more content.Host: David Duong, CFA - Head of ResearchPanel:Georg Toropov - Senior CES TraderSarah Williamson - Head of Prime Financing Trading David Han - Research Analyst Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we have a special guest, Jack Platts, co-founder of Hypersphere, joining us to provide deep insights into the cryptocurrency market. We delve into significant market movements, macroeconomic trends, and key insights from the newly released Q3 Guide to Crypto Markets. Our expert panel, featuring Jack Platts, Greg Sutton, David Duong, and David Han, offers comprehensive analyses and actionable strategies for investors. (1:05) Interview with Jack Platts:Background and Career:Jack shares how his experience at the Web3 Foundation prepared him to launch Hypersphere.(6:30) Political Climate and Crypto:Discuss the current US political climate and its impact on crypto, including insights from the event at Mar-a-Lago.11:40 TON Ecosystem:Explore the TON ecosystem and its potential.19:47 Early-Stage Investments:Insights into writing checks into early-stage Layer 1 deals like Berachain.28:30 Future Excitement:What excites Jack the most about the future of crypto.35:54 Market Movements:Post-Trump BTC Nashville:Greg Sutton discusses market movements following Trump's appearance at BTC Nashville.37:55 ETH ETF Update:Explore the latest updates on Ethereum ETFs and how large wallet movements are influencing the market.39:35 Macroeconomic Trends:Key Economic Indicators:David Duong and Greg Sutton analyze crucial economic data, including JOLTS and consumer confidence on Tuesday, and significant earnings reports from MSFT, Meta, and the FED on Wednesday, followed by Amazon and Apple on Thursday.44:10 Onchain Developments:Governance and Protocol Updates:David Han delves into recent governance activities on Compound, and the latest updates on AAVEnomics and its safety module.48:45 Q3 Guide to Crypto Markets:Report Insights:David Duong and David Han discuss the changes made from the previous edition of the Guide to Crypto Markets.Compelling Trends:Highlight the most compelling or surprising insights from the report and the sectors or assets presenting significant opportunities.Strategic Adjustments:Based on the findings in the Q3 Guide, they offer advice on how investors should adjust their strategies to navigate the evolving market landscape.This episode is packed with expert analyses, timely updates, and strategic insights essential for anyone involved in the cryptocurrency market. Whether you're an investor, a market enthusiast, or simply interested in the latest trends, this discussion provides valuable knowledge to help you stay ahead in the rapidly evolving world of digital assets. Download the Guide to Crypto Markets Here: Subscribe and stay informed: Don’t miss our continued deep dives into cryptocurrency trends, market dynamics, and pivotal developments influencing the global markets. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this comprehensive episode, we delve into the latest developments, from the impact of ETH and BTC ETFs to significant political shifts and long-term catalysts. Our expert panel, including David, Greg, and David Han, provides in-depth analyses and insights into the forces shaping the future of digital assets.(2:08) ETH and BTC ETF Updates:ETH ETFs Performance: David and Greg discuss the trading volume of ETH ETFs so far, the 10% drop in ETHE, and the implications of moving ETHE to mini ETH. They also cover issuer fees and Bitwise's disclosure of ENS addresses for spot Ethereum ETF holdings.(7: 05) BTC ETF Inflows: Greg highlights the significant inflows into BTC ETFs, with IBIT receiving $526 million yesterday alone.(10:58) Political Landscape and Predictions:Biden Drops Out: Our panel discusses the implications of Biden dropping out of the race, Kamala Harris stepping in, and current prediction market trends showing 64% for Trump (down from 70%) and 33% for Kamala.Fairshake Super PAC: Explore how the pro-crypto group Fairshake has become the largest super PAC of the election cycle, raising over $200 million.Trump at Bitcoin 2024: Speculation around Trump's potential announcement to add Bitcoin to US reserves during his speech at Bitcoin 2024 on July 27th.(20:09) Long-Term Crypto Catalysts:(20:20) Mt Gox Distributions: Greg and David Duong discuss the upcoming ~$3 billion distribution in kind from Mt Gox and its potential market impact.(21:30) FTX Claims Trading: An update on FTX claims trading ~$1.20, the unclear timeline, and hedge funds accumulating positions, now totaling $400 million.Market Flows and Volumes:Funding and Futures Update: Greg provides insights into general market flows, volumes, and the latest updates on funding and futures.(23:55) Real World Asset Developments:Private Credit Fund: David Han covers Hamilton Lane's launch of a $920.7 billion private credit fund on Solana and Ethereum, highlighting the integration of real-world assets into blockchain platforms.(25:55) Onchain Activity:Solana vs. Ethereum DEX Volumes: David Han reports that Solana DEX volumes have recently surpassed Ethereum DEX volumes on a monthly basis.Pump.fun Revenue: Recap of Pump.fun generating $1 million in daily revenue, surpassing MakerDAO.Memecoin Volumes: Analysis of memecoin volumes being more "sticky" than anticipated.This episode offers a thorough exploration of the latest trends, political developments, and long-term catalysts in the cryptocurrency market. Whether you're an investor, a crypto enthusiast, or simply curious about the evolving financial landscape, this discussion provides valuable insights into the strategic movements shaping the future of digital assets.Subscribe and stay informed: Don’t miss out on our continued deep dives into cryptocurrency trends, market dynamics, and pivotal developments influencing the global markets.Host:Ben Floyd, Head of Execution ServicesPanelists:David Duong, Head of Institutional ResearchGreg Sutton, Senior CES TraderDavid Han, Research Analyst Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us in this episode as we dissect the latest trends and shifts in the cryptocurrency market, along with key political influences and macroeconomic indicators. Our discussion spans from significant market movements to in-depth insights on recent political developments and major cryptocurrency conferences. Market Outlook: German Government and Mt. Gox Flows: The team analyzes the impact of the large financial flows from the German government and ongoing Mt. Gox settlements while also discussing the recent positive price movements in the crypto market. ETF Dynamics: Dive into the strong inflows into BTC ETFs with updates on both ETH and SOL ETFs, exploring how these financial products are shaping market behavior. Macro Economic Trends: Inflation and Interest Rates: Examine the latest data showing a decline in supercore inflation for two consecutive months and how this is shaping expectations for potential rate cuts. Powell’s Testimony: Reflect on the implications of Federal Reserve Chair Jerome Powell's recent testimony, which appeared more lenient towards the possibility of rate cuts, assessing its impact on financial markets. Political Landscape: Trump’s Crypto Influence: Speculate on what Donald Trump’s political actions could mean for the future of cryptocurrency, considering his past statements and potential policies should he re-enter office. JD Vance’s Crypto Advocacy: Explore the background of JD Vance and his history with cryptocurrency, discussing how his position could influence legislative attitudes towards digital assets. ETHCC Highlights and Sector Insights: Ethereum and Layer 1 Direction: Gain insights into the strategic direction of Ethereum’s Layer 1 from the latest ETHCC conference. Layer 2 Differentiation and Challenges: Discuss the differentiation among Layer 2 solutions, touching on community fragmentation, interoperability, and the update on consumer applications, which are crucial for the adoption and growth of these technologies. Subscribe and stay informed: Don’t miss out on our continued deep dives into the trends, dynamics, and pivotal developments influencing the cryptocurrency markets globally. Host: Ben Floyd, Head of Execution Services Panelists: David Duong, Head of Institutional Research Joshua Pak, CES Trader David Han, Research Analyst  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Decoding Crypto Dynamics: Market Catalysts and Strategic InsightsTune into this episode as we dive into the short-term catalysts and strategic insights shaping the cryptocurrency landscape. Our expert panel, featuring David, Sarah, andGeorg unpacks everything from market overhangs to macroeconomic events, providing a comprehensive analysis of the current state of the crypto world.1:45 Key Market Catalysts- **Overhang Influences:** Explore significant overhangs affecting the market such as the news around Mt. Gox and the German government BTC holdings, including the implications of potential Mt. Gox distribution timelines.7:45 **Deleveraging Dynamics:** Sarah provides an in-depth look at the current state of deleveraging across various client types, including insights into orderly margin calls during the recent volatility. Sarah also provides an overview of the portfolio margin system at Coinbase.**FTX Claims and Recovery:**16:20 **FTX Timeline:** Georg discusses the timeline for FTX claims and assesses the potential positive outcomes for the market as these claims progress.18:26 **Macro Economic Trends:**- **Busy Economic Calendar:** David highlights key recent and upcoming macroeconomic events, including last week's non-farm payroll data, this week's CPI, and insights from multiple Federal Reserve members' speeches.20:24 **Political and Regulatory Impact:**- **Political and Legal Considerations:** David continues, delving into the latest political updates that could influence the crypto industry and examines how the Chevron deference might impact rule-making in this space.**Market Pressures and Predictions:**23:34 **Token Unlocks:** Georg analyzes the current pressure on the market due to token unlocks and discusses the implications of these events on market dynamics.26:00 **BTC Supercycle Discussion:** Georg and David follow up revisiting the concept of a Bitcoin supercycle and its potential impacts on the broader market.30:10 Monthly Outlook - Advanced Predictive Analysis:**- **Machine Learning Insights:** David wraps up with his monthly outlook, discussing what machine learning models are predicting about future crypto market movements, offering a unique analytical perspective to our listeners.This episode is packed with critical insights and analysis, perfect for anyone interested in understanding the intricate details and broader trends affecting the cryptocurrency market today. Whether you're an investor, trader, or simply crypto-curious, these discussions will provide valuable insights into the strategic movements shaping the future of digital assets.**Subscribe to stay updated:** Don’t miss our deep dives into cryptocurrency trends, market dynamics, and pivotal developments that influence investment and regulatory frameworks around the globe.Host: Ben Floyd, Head of Execution ServicesPanelists:David Duong, Head of Institutional ResearchSarah Williamson, Head of Prime Financing TradingGeorg Toropov, Senior CES Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we discuss the recent market volatility and price drops associated with the long-awaited liquidation of Mt Gox assets, along with some bitcoin selling by the German government. Our expert panelists Greg Sutton (senior CES trader) and David Han (research analyst) also analyze spot ETH ETF expectations and the potential impact of a launch in early July, given the current low liquidity conditions. Note that while July tends to be a slower month, historically we have seen that it brings positive seasonality trends, at least for bitcoin.The panelists also touched on the political situation with the US presidential debate taking place on June 27 and the Supreme Court potentially overturning Chevron Deference. Meanwhile, technical updates on Solana (including Blinks, ZK Compression and Magic Blocks) are focused on improving the user experience, while the outperformance of TON has been driven by integration within the Telegram platform demonstrating a shift toward user acquisition over technical debates.Overall the discussion cuts through the noise of macro factors, regulatory developments, and innovation across crypto markets to discuss the implications for institutional investors.1:10 Mt. Gox distributions1:55 Perp funding rates & futures markets6:45 German government sales9:28 ETH ETF update13:00 BTC ETF flows14:30 Election insights16:00 Token unlocks20:40 TON update and Telegram integration24:40 Solana technical updates28:45 Seasonal BTC trendsHost: David Duong, Head of Institutional ResearchPanelists:Gregory Sutton, Senior CES TraderDavid Han, Research Analyst**Subscribe to stay updated** with our deep dives into cryptocurrency trends, market dynamics, and the pivotal developments influencing investment and regulatory frameworks around the globe. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The State of Crypto: Expert Insights from the Coinbase & Financial Times SummitDive into the highlights of the "State of Crypto Summit," co-hosted by Coinbase and the Financial Times at Casa Cipriani in New York. This special episode features exclusive interviews with leading experts and thought leaders in the cryptocurrency industry who gathered to discuss the current and future landscape of digital assets. Listen as we explore their insights on regulation, institutional adoption, which sectors they're excited about, and predictions for Bitcoin's price trajectory.Summit Highlights and Discussions:Regulatory Landscape: Delve into expert perspectives on the current regulatory landscape for cryptocurrencies. Understand the challenges and opportunities stemming from recent regulatory developments, and what they might mean for the future.Institutional Adoption: Experts share their experiences and insights on what is driving institutional interest and the obstacles that institutions encounter when adopting these technologies.Exciting Sectors: Discover which sectors within the crypto space are generating the most buzz among summit attendees. Learn about the areas that experts are most optimistic about and why they believe these sectors hold significant potential.Bitcoin Price Predictions: Hear predictions from top analysts and industry leaders about Bitcoin’s price by year-end. Will it surpass the $100k mark? Explore a range of perspectives on the factors that could influence Bitcoin's price movement in the coming months.Why This Matters: This episode offers an in-depth overview of the pivotal discussions and sentiments shared by key figures at one of the most significant crypto gatherings of the year. Whether you're an investor, a crypto enthusiast, or simply curious about the financial landscape, these discussions provide invaluable insights into the strategic movements shaping the future of digital assets.Subscribe and Stay Informed: Don't miss out on our continued coverage of groundbreaking crypto events. Subscribe to our podcast for more thorough discussions and expert analyses that keep you informed on the rapidly evolving world of digital assets.HostsBen Floyd - Head of Execution ServicesDavid Duong - Head of Institutional Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Global Conference Insights: From Milken to ConsensusJoin us for an insightful episode featuring special guest Lauren Abendschein (Global Head of Institutional Sales at Coinbase), as she provides crucial updates from prominent global conferences including Milken, Medici, and Consensus. This discussion delves into the evolving landscapes of these events, comparing dynamics of the current year with previous ones, exploring technological advancements, and analyzing the varied sentiments among different participant groups.Conference Highlights:2:30 Milken Conference Reflections: Lauren provides an in-depth comparison of this year’s Milken conference to 2023, highlighting the diverse perspectives among corporates, money managers, and other attendees, particularly in the context of the BTC ETF success and the anticipated ETH ETFs.7:45 Medici Developments: Explore the progression of the Medici conference over the years, focusing on the shifting emphasis and significant technological strides being made.11:00 Consensus Key Themes: Unpack the discussions around political and regulatory environments at Consensus, alongside other major trends that have dominated conversations.Global Sentiments and Variations:17:15 Cross-Conference Perspectives: Gain insights into the general sentiment across these conferences and how it varies globally, providing a nuanced view of the international crypto landscape.Political and Social Movements:20:00 PAC Fundraising and Crypto in Politics: Discuss recent developments in PAC fundraising and President Trump’s initiative to accept BTC payments via the Lightning Network.26:18 Roaring Kitty’s Reemergence: Georg Toropov offers insights on the comeback of Roaring Kitty and its potential impact on crypto meme coins and the broader market context.29:36 Core Scientific's New Venture: Explore Core Scientific’s significant new contract worth approximately $290 million per year with an AI company, discussing potential implications for the crypto and tech industries.Macro Economic Overview by David Duong:31:02 Economic Indicators: David provides updates on recent weak data indicators such as ISM and JOLTS job data, setting the stage for the upcoming non-farm payrolls and the Federal Reserve meeting next Wednesday.On-Chain Developments with David Han:34:50 On-Chain Revenue and Hacks: Highlight the impressive on-chain revenues from platforms like Pump.fun, and discuss the impact of recent disruptions such as Linea’s block production stop following a DeFi hack41:15 Uniswap and ARB Initiatives: Review the delay in Uniswap’s governance proposal vote and delve into the allocation of 200 million ARB ($250 million) to support gaming initiatives.This episode offers an extensive overview of the latest developments from global conferences, market trends, economic updates, and on-chain activities. Whether you're an investor, a crypto enthusiast, or simply curious about the financial landscape, this discussion provides valuable insights into the strategic movements shaping the future of digital assets.Subscribe to stay informed with our in-depth analyses of cryptocurrency trends, market dynamics, and pivotal developments that influence investment and regulatory frameworks worldwide.Host: Ben Floyd, Head of Coinbase Execution ServicesSpecial Guest: Lauren Abendschein, Global Head of Institutional SalesPanelists:David Duong, Head of Institutional ResearchDavid Han, Research AnalystGeorg Toropov, Senior CES Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Unpacking the Future of ETFs: Insights on the ETH ETF, Political Dynamics, and Key Market Trends Description:Join our expert panel including David Duong, Georg Toropov, David Han, and Rachel Ziv as they explore the complexities and strategic dimensions of the Ethereum ETF and its broader implications for the cryptocurrency market. This episode provides a deep dive into potential trading timelines, demand forecasts, and comparisons with other global ETFs, along with a thorough analysis of the critical dynamics at play in the crypto finance landscape.**ETF Trading and Dynamics:**2:30 - **Initiation and Expectations:** David Duong breaks down the anticipated timeline and procedural steps for the ETH ETF to begin trading, setting the stage for a transformative shift in crypto investments.5:20 - **Comparative Analysis:** Georg Toropov examines the potential demand for the ETH ETF and contrasts it with existing products like HK ETFs, Canadian ETFs, and derivatives such as futures and perpetuals, offering a global perspective.8:00 - **Market Dynamics:** David Han explores the vital market dynamics to watch, including the effects of staked ETH and potential outflows from products like ETHE.**ETH Financing and Market Updates:**11:40 - **Financing Trends:** Rachel Ziv delves into how leverage trends are evolving in response to ETF approvals, comparing these trends between ETH and the earlier BTC ETF launch.16:00 - **Staking and Liquidity:** Rachel further discusses the current ETH staking rate, its impact on financing rates, and inventory concerns, shedding light on the liquidity challenges and yield opportunities in the market.**Future ETF Prospects and Political Landscape:**17:00 - **Next in Line:** David Duong speculates on what other cryptocurrencies might see similar ETF products in the future, considering the evolving regulatory and market conditions.26:05 - **Cryptocurrency and Politics:** Highlighting the increasing role of cryptocurrencies as a political issue, David references recent statements from political figures and analyzes voter sentiments toward digital assets.35:07 **Institutional Engagement and Protocol Updates:**- **Institutional Flows:** Georg Toropov talks about the changes in institutional narratives and flows post the ETH ETF announcement, emphasizing the significance of ETH call skew and open interest increases.37:15 - **Protocol Developments:** David Han provides updates on forthcoming protocol upgrades and policy changes in networks like Solana and Ethereum, which are crucial for future market strategies.**Market Movements and Economic Indicators:**30:33 - **Significant Market Movements:** Georg Toropov revisits recent significant market events, including the BTC movements from a Mt. Gox cold wallet and contrasts them with potential payouts from the FTX estate.43:55 - **Economic Outlook:** The panel wraps up with a discussion on upcoming economic data and token unlocks that market watchers should keep an eye on.This episode is packed with expert analyses and forecasts, crucial for anyone involved in or following the cryptocurrency markets. From investors and market analysts to crypto enthusiasts, these discussions provide essential insights into the rapidly evolving landscape of digital assets and the strategic movements shaping their future.**Subscribe to stay updated** with our deep dives into cryptocurrency trends, market dynamics, and the pivotal developments influencing investment and regulatory frameworks around the globe.Host: Ben Floyd, Head of Coinbase Execution ServicesPanelists:David Duong, Head of Institutional ResearchDavid Han, Research AnalystGeorg Toropov, Senior CES TraderRachel Ziv, Senior Financing Sales TraderLinks:Coinbase Institutional Research websiteIf you want to learn more about any of Coinbase's products, please email sales@coinbase.com Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Dive into this week's episode as we explore the exhilarating surge in Ethereum prices and the broader implications of the anticipated ETH ETF approvals. This discussion will not only cover market dynamics but also address critical onchain developments and legislative updates poised to reshape the cryptocurrency landscape.ETH ETF and Market Dynamics (2:04):Market Surge: Analyze the recent remarkable upticks, with ETH up by 20% alongside a general rally in meme coins by 10-30%.Record Futures Interest: Discuss Ether futures reaching a record open interest of $14 billion and what this signifies for market sentiment.Betting on Approval: Review how Polymarket odds have shifted to a 70% likelihood of ETF approval, reflecting increased market optimism.Deep Dive into ETH ETF Queries (05:24):Simultaneous Approvals: Address whether all pending ETH ETF applications might be approved concurrently and the implications of such a scenario.Trading Dynamics: Consider how ETH might trade leading up to and following potential ETF approval.Key Dates: Highlight important dates to watch concerning ETF approval and how these could impact market movements.Legislative Influences (13:30): Examine how legislative developments, including the SAB21 and the FIT Act House Vote, are crucial to the crypto environment in the upcoming weeks.Onchain Innovations:New Protocols (22:45): Unpack the details of ERC-7683 by Uniswap Labs and Across, exploring how this standard could shape the approach towards cross-chain interactions.Optimism’s Fraud Proofs (25:02): Discuss the launch of fraud proofs by Optimism chain and their potential to enhance security and trust within the network.Tune in to gain a comprehensive understanding of the current state of the Ethereum market and the exciting onchain developments that continue to push the boundaries of what's possible in crypto. Whether you're an investor, a crypto enthusiast, or a newcomer, this episode will equip you with the insights needed to navigate the evolving digital asset scene.Links:Coinbase Institutional Research websiteIf you want to learn more about any of Coinbase's products, please email sales@coinbase.com Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Is cryptocurrency the next logical evolution of the monetary system? In Evolving Money, to explore whether we're at an inflection point, we'll look back at moments in the history of money when how we paid for things and stored value long-term changed for the better. Subscribe to Evolving Money, a new podcast from Coinbase and Bloomberg Media Studios, today. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us for an exclusive deep dive into the Ethena protocol with its founder, Guy Young. This episode provides an in-depth look at the mechanics, vision, and future plans of Ethena, alongside key updates from the wider cryptocurrency and blockchain space.In-Depth Conversation with Guy Young:Introduction to Ethena: Learn about Guy Young, his background, and the inception of Ethena.Yield Mechanisms Explained: Guy explains how Ethena generates its yield and the innovative financial mechanisms behind it.Backend Operations: Unpack the technical workings of Ethena, providing clarity on how the protocol operates behind the scenes.Vision and Exchange Layer: Explore Guy's vision for building a network and exchange layer around USDe, aiming to enhance crypto's usability and accessibility.2024 Roadmap: Dive into the strategic plans and key milestones Ethena aims to achieve in the coming year.Founder's Insights: What challenges and concerns keep Guy up at night? An honest look at the hurdles and worries facing the leader of a growing crypto protocol.Additional Crypto Updates:EIP-7702 Overview: An overview of Vitalik Buterin’s draft EIP-7702, discussing its implications and potential impact on the Ethereum ecosystem.BTC & ETH ETF Updates: Get the latest on BTC ETF flows and the recent developments regarding Ethereum’s regulatory approval, plus insights into Polymarket's recent fundraising efforts.Market Catalysts: Preview the important upcoming economic events, including CPI data and 13F filings, and discuss their anticipated effects on the crypto market.This episode offers a unique perspective into one of the most intriguing new projects in the blockchain space, combined with expert analysis on current trends and upcoming market catalysts. Whether you're an investor, enthusiast, or industry professional, this dialogue with Guy Young will provide valuable insights into Ethena's potential and the broader digital asset landscape.Make sure to subscribe for more detailed discussions and expert analyses that keep you informed about the rapidly evolving world of digital assets.Links:Coinbase Institutional Research websiteIf you want to learn more about any of Coinbase's products, please email sales@coinbase.com Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us for an insightful conversation with Dadi Kristjansson, where we explore his bullish stance on BTC, preference for SOL over ETH, and other critical updates shaping the cryptocurrency market. This episode delves into technical analysis, regulatory landscapes, macroeconomic factors, onchain developments, and the latest in ETF trends.Conversation with Dadi Kristjansson (01:34)Crypto Preferences: Discover why Dadi is long on BTC, bullish SOL and a little concerned for ETH, providing an in-depth analysis of his investment strategy.Market Update (21:46)Technical Analysis: Unpack the key technical levels to watch in the current market.Collateral Integration: Discuss Bybit’s recent move to integrate Ethena Labs' USDe as a collateral asset.Regulatory Landscape: Analyze the mixed signals from regulators and what these could mean for the crypto market.Macro Economic Insights (24:16)Federal Meeting and Economic Data Update: Recap the outcomes of Wednesday's Fed meeting and the implications for the financial markets.Key Economic Data: Look ahead to the CPI release on the 15th and Nvidia’s earnings on the 22nd, and their potential impacts on the market.Onchain Developments (34:20)Aave's Innovations: Explore the latest announcements from Aave, including the announcement of Aave V4 and the Aave 2030 vision.Ethereum Gas Fees: Examine how Ethereum’s low gas fees are affecting the ETH burn rate, driving it to a yearly low.ETF Updates (28:30)ETF Flow : Review the recent inflows into GBTC and their significance.Hong Kong ETF Dynamics: Provide an update on the performance and reception of ETFs in Hong Kong’s market.This episode offers a comprehensive overview of the current state and future directions of the cryptocurrency market. Whether you’re deeply embedded in the crypto space or just keeping an eye on investments, these insights are crucial for navigating today's volatile market.Make sure to subscribe for more detailed discussions and expert analyses that keep you informed about the rapidly evolving world of digital assets.Links:Coinbase Institutional Research websiteIf you want to learn more about any of Coinbase's products, please email sales@coinbase.com Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Tune into this episode for an in-depth analysis of pivotal developments reshaping the cryptocurrency landscape. We cover a range of significant topics, from the launch of ETFs in Hong Kong to the intricacies of the EigenLayer airdrop, comprehensive updates on upcoming token unlocks, and critical macroeconomic trends.3:14 Hong Kong ETF Launch:Initial Performance: Review day one trading volumes and overall market reception of the new Hong Kong ETFs.Australian Market Outlook: Preview the expected listings by Van Eck Associates Corp. and BetaShares Holdings Pty on the ASX Ltd.US ETF Trends: Analyze current ETF flows and their implications for the market.9:50 EigenLayer Airdrop:EIGEN Token Overview: Explore the functionalities of the EIGEN token as an Intersubjective Work Token and its role in enabling unique blockchain behaviors.Airdrop Dynamics: Discuss the airdrop's regional exclusivities, the surprising terms regarding token transfer restrictions, and the vesting schedule.Community Reactions: Address community responses to the airdrop's structure, including the impact on Pendle's market positioning.16:44 Token Unlocks:FTX Estate Developments: Detail the process and market impact of the second tranche of locked Solana sales by the FTX estate.Market Implications: Consider the broader implications of these unlocks on liquidity and market volatility.23:40 Macro Economic Insights:Global Economic Indicators: Delve into the upcoming Fed meeting, NFP data, and the current earnings season on the crypto market.Currency Fluctuations: Evaluate the significance of Yen weakness and a strong dollar on global and crypto-specific financial dynamics.19:52 Additional Updates:Coinbase and Lightning Network: Discuss Coinbase's implementation of the Lightning Network to enhance Bitcoin transactions globally, in collaboration with Lightspark.Market Structure Observations: Review shifts in CME Basis and investor behaviors, shedding light on strategic market movements.Don't miss this comprehensive episode where we dissect the latest events and trends in the crypto world. Whether you're a seasoned investor or new to the field, these insights are crucial for understanding the dynamic changes in digital assets.Subscribe and stay tuned for more in-depth analysis and discussions that keep you well-informed on the rapidly evolving world of cryptocurrencies.Links:Coinbase Institutional Research websiteIf you want to learn more about any of Coinbase's products, please email sales@coinbase.com Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Dive deep into the essential insights of the Q2 2024 Guide to Crypto Markets, a collaborative effort by Coinbase and Glassnode, in this enlightening podcast episode. James Check, Lead Analyst at Glassnode, along with our other leading industry experts, unpack the comprehensive report to bring you the latest trends, forecasts, and detailed analyses that are defining the cryptocurrency market today. In-Depth Report Overview:Quarterly Analysis: Explore key insights from the report, focusing on the benefits of BTC within strategic portfolio diversificationBitcoin Halving Examination (4:02): Delve into the anticipated effects of the Bitcoin Halving on both the mining sector and the overall market through detailed expert analysis.Growth Trends (15:44): Discuss the notable increase in staked ETH and the expansion of stablecoin supply, examining how these factors are influencing investor strategies and market dynamics.Macro Economic Context:Interest Rate Implications (31:50): Analyze how global interest rate shifts could potentially impact the cryptocurrency markets, dissected through a comprehensive macroeconomic perspective.Dollar Strength Analysis: Evaluate the possible consequences of a strong dollar on the sectorMarket Trends and Updates:Hashrate Developments: Receive updates on the growth of hashrate and its implications for the security and efficiency of Bitcoin mining.Technical Analysis (24:17): Get insights into Bitcoin's technical analysis and the critical levels to monitor, including an assessment of market seasonality.ETF Movements (27:50): Monitor the latest ETF inflows and outflows to understand their impact on the market.Regulatory Filings (35:00): Prepare for the upcoming 13-F filings and their potential effects on investor sentiment and market behavior.Mt. Gox and NYSE Developments (44:15): Keep informed with the latest news from Mt. Gox and the NYSE’s plans to potentially introduce 24/7 trading.Additional Resources:For further details and a more thorough understanding, download the Q2 2024 Guide to Crypto Markets from the Coinbase institutional page here.Whether you're a seasoned investor or a cryptocurrency enthusiast, this episode provides crucial insights into the current and future dynamics of the cryptocurrency markets. Tune in to stay well-informed and ahead in the fast-evolving world of digital assets.Don't forget to rate us and subscribe for more in-depth discussions and expert insights.Host: Ben Floyd, Head of Coinbase Execution ServicesSpecial Guest: James Check, Lead Analyst, GlassnodePanelists:Greg Sutton, Senior CES TraderDavid Han, Research AnalystGeorg Toropov, Senior CES TraderLinks:Coinbase Institutional Research websiteIf you want to learn more about any of Coinbase's products, please email sales@coinbase.com Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Market Dynamics Overview:Weekend Crypto Volatility (03:17): Our panel discusses the unusual market activity over the weekend and what it suggests about broader investor attitudes toward risk.Geopolitical Impact on BTC Dominance: Explore how current geopolitical tensions might influence Bitcoin’s dominance in the crypto market.Seasonal Challenges and Rate Concerns: We delve into the tough seasonal trends and the ongoing weakness in traditional markets exacerbated by rate hike concerns.Funding Rates and Liquidation Trends: Get updated on the latest shifts in funding rates and what recent liquidations could mean for the market.BTC Halving:Bitcoin Halving Update: An essential briefing on the latest developments regarding the Bitcoin halving and its potential implications.Financial Structures and Trends with Zaid Khan:Crypto Lending Market Evolution: Zaid provides insights into how the structure of the crypto lending market has changed since the last cycle.Market Trends Snapshot: A quick overview of current market trends, the rising demand for USD, and general rate conditions.Margin Finance Developments (18:55) : Updates on Margin Fi TVL after their CEO resignedWallet Ecosystem Innovations with Ryan Yi:Exploring Wallet Diversity (28:14): Ryan breaks down the different types of wallets emerging in the ecosystem, highlighting growth in unique addresses and what these new wallet infrastructures enable.Apps Worth Trying: Recommendations on some innovative apps to experiment with in the new wallet landscape.Whether you're a seasoned trader or a crypto newcomer, this episode will equip you with the knowledge to understand the latest market fluctuations and wallet technology advances.  Don't forget to like and subscribe for more insightful discussions on the rapidly evolving world of digital assets.Host: Ben Floyd, Head of Coinbase Execution ServicesPanelists:Greg Sutton, Senior CES TraderDavid Han, Research AnalystZaid Khan, Head of EMEA Financing TradingRyan Yi, Corporate Development Manager, VenturesLinks:Coinbase Institutional Research websiteIf you want to learn more about any of Coinbase's products, please email sales@coinbase.com Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we welcome Joshua Frank, Co-Founder and CEO of The Tie, to unravel the complexities and anticipate the future trends of the cryptocurrency market. From the implications of the Bitcoin halving to the evolving landscape of ETFs, and the shifting balance between retail and institutional influence, this discussion offers a comprehensive overview of what's shaping the crypto world today and tomorrow.Key Discussions:Bitcoin Halving Insights: Joshua and David shares their expert analysis on the significance of the Bitcoin halving. Is it as impactful as it's touted to be, and what might the market response signal for future cycles?ETFs and Wealth Management: We're on the cusp of witnessing RIAs and wealth management platforms integrating crypto, particularly 90 days post-ETF launch. How much will activate and what does this mean?Public Filings - Retail vs. Institutional: With 13F filings on the horizon in May, we dive into the debate on whether the crypto market is predominantly retail or institutionally driven and what the data might reveal. What can we learn about the future of the crypto market from Form D filings? This segment aims to decode the information these filings offer about crypto's trajectory.Upcoming Unlocks into Year End: Addressing the significant volume of unlocks anticipated this year and their potential impact on the market.ETF Flows and Market Sentiment: Rounding off with an update on ETF flows, BTC & ETH basis, and the nature of client conversations surrounding the Ethena project, providing a pulse on current market sentiment. A Liquid Restaking Update: An update on liquid restaking developments, along with a discussion on some of the emerging concerns in this space.Whether you're an investor, enthusiast, or industry professional, join us for a thought-provoking discussion that demystifies the dynamics at play in today's digital asset landscape.Don't forget to like and subscribe for more in-depth analyses and expert conversations that keep you informed on the rapidly evolving world of cryptocurrencies.Special Guest: Joshua Frank, Co-Founder & CEO, The TieHost: Ben Floyd, Head of Coinbase Execution ServicesPanelists:Greg Sutton, Senior CES TraderDavid Han, Research AnalystLinks: Coinbase Institutional Research website Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us in this week's enthralling episode for a comprehensive journey through the cryptocurrency landscape, as we untangle the complex world of derivatives markets, navigate the unpredictable waves of altcoins, and shed light on groundbreaking onchain developments. We initiate our exploration with a detailed analysis of the derivatives market, spotlighting the notable reset in funding rates, the impact of $65 million in liquidations, and providing an insightful update on the evolving ETF scene.Derivatives Insight: We explore the CME and perpetual basis dynamics, dissecting the significance of $65 million liquidated, funding rates falling below 11%, and an open interest (OI) of $22 billion. This segment aims to demystify what these developments mean for the broader market and individual investors.Macro Perspectives: Set against the backdrop of strong ISM and GDP data, coupled with the anticipation of forthcoming rate cuts, we delve into the macroeconomic factors potentially steering crypto price actions.ETF Update: Our discussion takes you through the shifting terrain of the ETF market, highlighting the substantial outflows from GBTC, which now exceed $15 billion, and how behemoths like Blackrock and Fidelity are navigating with their crypto products.Onchain Updates: In a special farewell to Sid, he offers one last insightful look into the latest onchain trends, including Base’s growing traction, the innovative Farcaster, and the introduction of DEGEN L3. Sid also discusses the game-changing promise of L3 solutions in enhancing blockchain ecosystems.Airdrops and Beyond: We broaden the scope to significant airdrops, such as Wormhole’s distribution of 670 million W tokens and the noteworthy $750 million airdrop by Ethena, analyzing their potential market impact. Moreover, we take a deep dive into the Ethena Protocol, exploring its evolving role and potential applications in the DeFi space.Designed for enthusiasts, investors, and anyone keen to stay abreast of crypto's derivatives complexities, the vibrant world of altcoins, and onchain advancements, this episode promises enlightening discussions and invaluable insights.Remember to like and subscribe to stay updated on the cutting-edge developments shaping the digital asset landscape.Host: Ben Floyd, Head of Coinbase Execution ServicesPanelists:Greg Sutton, Senior CES TraderGeorg Toropov, Senior CES TraderSid Shekhar, Senior Blockchain ManagerLinks:Coinbase Institutional Research website Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Our special guest Ben Rodriguez (Senior Protocol Specialist, Coinbase Cloud) helps us navigate the Ethereum layer-2 landscape post-Dencun Fork, as the total value locked on these networks has picked up sharply in recent weeks. But there still seems to be some congestion-induced fee volatility on these L2s despite the fact that EIP-4844 helped reduce fees. We also discuss EigenLayer with respect to the upcoming launch of actively validated services as well as the tradeoffs inherent in liquid restaking tokens.Separately, our senior CES sales traders Georg Toropov and Greg Sutton walk us through the markets and flows, covering the recovery in bitcoin performance after some big outflows from spot BTC ETFs. Altcoins are similarly retracing in sympathy. Other key themes: The Federal Reserve kept three rate cuts for 2024 in their dot plot and increased US growth expectationsFlows last week suggest that many institutions actually feel underallocated to this space, indicating the pain trade may be higherSome ETH related news as BlackRock launched a digital liquidity fund on Ethereum, while the Ethereum Foundation received an enquiry from an unidentified “state authority”Funding rates in perpetual futures markets for bitcoin are normalizing from levels as high as 60-70% in bitcoin back down to sub-20% levelsDon’t forget to like and subscribe for further in-depth discussion.Host: David Duong, Head of Institutional ResearchSpecial Guest: Ben Rodriguez, Senior Protocol Specialist, CoinbasePanelists:Greg Sutton, Senior CES TraderGeorg Toropov, Senior CES Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we welcome Sui Chung, CEO of CF Benchmarks, as our special guest to unravel the intricacies of crypto index provision and its important impact on the market. Sui offers an enlightening overview of the role of an index provider and delves into the impressive scope of CF Benchmarks, which underpins >$20Bn of assets. He provides insider insights into the anticipated integration of wirehouses, the significant capital influx expected from wirehouses and RIAs, and explores the burgeoning international demand and possibilities for increased investment.Sui also sheds light on the observable shifts in spot volume patterns following the launch of ETFs, setting the stage for an in-depth discussion on the evolving landscape of digital asset investments.Market Update:Addressing the recent weaknesses in BTC and ETH.The notable strength in SOL and MKR, shedding light on the factors driving their performance.Flows in AI-related crypto namesImplications of funding rate reductions.Macro Insights:Latest expectations for the FOMC, the significance of the dot plot, offering a comprehensive analysis of how global macroeconomic factors are influencing the crypto space.This episode is a treasure trove for anyone keen on understanding the complex world of crypto indices, the market’s current state, and the macroeconomic elements at play.Don’t forget to like and subscribe for further in-depth discussion.Host: Ben Floyd, Head of Execution ServicesSpecial Guest: Sui Chung, CEO CF BenchmarksPanelists: David Duong, Head of Institutional ResearchGreg Sutton, Senior CES TraderTimestamps00:00 Podcast introduction02:12 Sui Chung introduction04:27 What’s the role of CF Benchmarks and why is it significant for investors?06:50 What challenges have you faced in the space as an Index provider?11:24 What are the key considerations around bringing Wirehouses onboard?16:30 Who are the main Wirehouses we should be aware of and what do they do?19:20 How much capital is involved when we discuss Wirehouses?23:05 What’s going on with ETFs outside of the US?27:40 What do you think about the capital pool in HK and China?30:20 Have you seen any recent changes in spot volumes given the state of the US?34:50 How are ETFs impacting trading in other instruments?37:17 How do you think about Indexing in the crypto ecosystem?42:11 Market update53:20 Macro56:52 Conclusion Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In another busy week, this episode dissects the monumental achievements and pivotal trends shaping the blockchain and digital asset world.Market Update:Scaling New Heights: Revel in Bitcoin’s landmark achievement as it hits a new all-time high above $72,900, marking a significant milestone in crypto history.The Convergence of Crypto and AI: Explore the innovative realms where cryptocurrency meets artificial intelligence, spotlighting trailblazing projects like WLD and FET.The Meme Coin Phenomenon: Delve into the world of meme coins, embracing their unique role and the lighthearted spirit they bring to the crypto space.Anticipating the Bitcoin Halvening: Discuss the implications of the upcoming Bitcoin halvening and its potential impact on the market.ETF Dynamics: Examine the current state of Bitcoin within ETFs and assess the growing likelihood of an ETH ETF making its debut.Macro & Research Insights:Sticky Inflation: Analyze this morning’s CPI report, offering a critical view on the persisting inflation and its ramifications.The Dencun Fork: Unpack the recent performance leading into the Dencun fork, focusing on EIPs 7514 and 4844, and their influence on the ecosystem.Onchain Activities:Social Dynamics on the Chain: Explore what recent developments mean for onchain activity, particularly in terms of social interaction.Frames Platform Update: Get the latest insights into Frames and its evolving role in the blockchain landscape.Flow Analysis: Market Liquidity and Maker DAO: Address the concerns around high funding rates and delve into significant changes to Maker DAO and the broader implications for DAOs in Wyoming.Join our panel of experts as they navigate the complexities and breakthroughs in today’s crypto ecosystem. This episode is a must-listen for enthusiasts and professionals alike, seeking to stay informed and ahead in the rapidly evolving world of digital assets.Host: Ben Floyd, Head of Execution ServicesPanelists: David Duong, Head of Institutional ResearchGreg Sutton, Senior CES TraderSid Shekar, Staff Blockchain ResearcherGeorg Toropov, Senior CES Trader  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us for an in-depth exploration of the latest advancements in the crypto space, with a spotlight on Base, Ethereum’s Layer 2 solution that’s rapidly gaining traction. This episode features a special guest, Jesse Pollak, who is about to celebrate his 7th anniversary at Coinbase. Jesse’s journey from leading retail operations to focusing on the development of Base has positioned him as a key figure in the crypto community. His unique insights into the evolution of Base and its significant role in the broader crypto market promise to make this a captivating discussion.Base Unveiled: Jesse Pollak, renowned as Base Contributor #1, delves into the impressive journey of Base, highlighting its achievement of $1B in Total Value Locked (TVL) and the emerging applications finding success on the platform. He provides an insider’s look at upcoming technical enhancements, including the anticipated impact of EIP-4844 on transaction fees. Jesse also discusses how the launch of Coinbase Smart Wallets aims to revolutionize the onboarding process, enhancing UX and safety for users. Moreover, Jesse shares his personal experiences with Farcaster and gives us a sneak peek into the future developments planned for Base in 2024.Market Update: Dive into a comprehensive market analysis with Greg and Ben, covering the latest trends in ETF flows and key dates crucial for understanding new product holdings. They explore the landscape for a potential ETH ETF and its implications for staking. The resurgence of retail interest is evident from Coinbase’s ascent in app store rankings, the profitability of holders, and the surprising uplift of meme coins. This segment promises to shed light on the current dynamics shaping the crypto market.Economic Insights: David presents his latest findings on USDC and discusses essential economic data set to be released, which could significantly sway the direction of interest rates. This analysis is crucial for anyone looking to understand the macroeconomic factors influencing the crypto space.DeFi and NFTs Spotlight: Sid brings attention to the notable increase in Total Value Locked across DeFi platforms and the remarkable rise in NFT values, with a special focus on CryptoPunks. Additionally, he addresses the current costs and efficiency of executing transactions on Base compared to Ethereum L1, highlighting Base’s potential to transform transaction experiences.This episode is a must-listen for anyone interested in the cutting-edge developments in digital assets and blockchain technology. Engage with us as we unravel the complexities of Base, the crypto market’s current state, and the exciting possibilities on the horizon.Host: Ben Floyd, Head of Execution ServicesSpecial guest: Jesse Pollak, Base Contributor #1Panelists:David Duong, Head of Institutional ResearchGreg Sutton, Senior CES TraderSid Shekar, Staff Blockchain Researcher Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of our podcast, we sit down with Shiliang Tang, President of Arbelos Markets, who entered the crypto space in 2012 and has since become a leading authority in the crypto derivatives market. Shiliang shares his unique insights on how market structures have evolved over the years and the significant role derivatives have played in the recent upward trends in the market.Diving deeper, Shiliang discusses the influence of an ETH overwriter from Asia and its implications for the market dynamics. Our market update segment, with our experts David Duong, Gregory Sutton and Sid Shekhar, provides a comprehensive analysis of the current state of various cryptocurrencies including: BTC’s Strength and Dominance: A rally in Bitcoin dominance prompts speculation on a potential dominance rally leading into the Halvening, and the subsequent possibility of a market rotation.The outlook for ETH/BTC in the context of a potential ETH ETF, Eth Denver and the Dencun update.Strength in UNI and the DeFiPulse Index after the announcement of Uniswap’s recent fee proposalSTX Strengths: STX’s narrative as a Bitcoin Layer 2 solution.Meme Coins and GameFi: A look into the rally of meme coins like Pepe, Floki, and Dogwifhat, and updates on GALA and gamefi.David Duong shares his insights on the broader economic landscape, suggesting that a soft landing for the economy appears to be on the horizon, potentially impacting asset pricing. He notes the influence of Nvidia’s movements on market flows, indicating a growing "risk on" sentiment. However, he cautions about the traditionally negative seasonality in March, tied to tax payments, and points out the importance of upcoming data releases, including new home sales and the core PCE number, in shaping market expectations.Greg shares an update on flows on the desk as well as ETF flows. In addition, he covers funding rates and thinks through possible paths ahead.Sid explores the potential for transaction based innovations within Farcaster Frames and Ethena’s interest in delta hedging derivative positions. Sid also touches on the growth in Ethena’s TVL and its significant growth in perps OI.Don’t forget to like and subscribe for more insightful discussions on the forefront of digital asset trends and innovations. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, we celebrate Ethereum breaking the $3k mark, a testament to the anti fragile nature of the crypto market. Georg takes the lead with an in-depth analysis of ETF flows, highlighting a record-breaking week and the year-to-date performance that paints a picture of growing investor confidence. He also provides a comprehensive market update, delving into the greed and fear index and the strategic positioning within ETH as it achieves this new milestone. Additionally, Georg sheds light on FIL’s significant open interest and the emerging story of SEI. David steps in with crucial macro updates in anticipation of a bustling week ahead, featuring fed minutes, initial jobless claims, and insights from various Fed members this week. He explores the potential trajectory for an ETH ETF, shares updates on Eigenlayer, and discusses the prospects of a DeFi renaissance, setting the stage for a deep dive into the macroeconomic factors influencing the crypto space. Sid rounds off the discussion with a focus on Web3 developments, demystifying the concept of liquid re-staking and addressing the risks associated with restaking strategies. He highlights a popular trade involving stETH and ETH. Sid also covers the Starknet airdrop, discussing the tokens and the second-order effects of reward distribution within the ecosystem. Join us for this comprehensive exploration of the latest trends and shifts in the cryptocurrency market, from Ethereum’s impressive rally to the cutting-edge developments in Web3. Stay tuned for a deep dive into the strategies, risks, and opportunities that lie ahead in this rapidly evolving landscape. Don’t forget to like and subscribe for more thought-provoking discussions and to stay at the forefront of digital asset trends and innovations. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode, join us as Josh kicks things off with a comprehensive market update, covering the significant movements in BTC, the latest on ETF flows, and an in-depth look at locked ETH dynamics, including developments around Eigenlayer, stETH, Blast, and the anticipation surrounding upcoming unlocks. This segment provides a nuanced understanding of the factors driving current market behaviors and what they might indicate for the future. David takes the conversation further into the realm of macroeconomics, dissecting today's inflation data and offering his seasoned outlook on potential rate cuts. His analysis bridges the gap between traditional financial indicators and their implications for the crypto market, providing listeners with a clear picture of the economic landscape ahead. Greg delves into the realm of institutional engagement, sharing insights from recent flows, volumes, and conversations with institutional clients, alongside a detailed examination of CME futures & options open interest. This segment sheds light on the institutional mindset and strategic positioning in the crypto space, revealing trends and sentiments that are shaping the market. Sid brings a fresh perspective with an update on Farcaster Frames, discussing their burgeoning potential and the exciting possibility of implementation on Solana. This discussion highlights the innovative applications and community engagement driving the growth of decentralized platforms. We wrap up this episode with us for a deep dive into the pivotal developments and strategic insights that are defining the landscape of digital assets and macroeconomic trends. Don’t forget to like and subscribe for more thought-provoking discussions and stay at the forefront of digital asset trends and innovations. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this engaging podcast episode, we dive deep into the latest developments across the traditional and cryptocurrency markets, starting with Georg's comprehensive market update. David then offers a crucial macroeconomic perspective, shedding light on the implications of Powell's recent remarks which have tempered expectations for an imminent interest rate cut in March, pivoting our sights towards a potential May adjustment. This segment explores the enduring disinflationary trends, with a particular focus on China's economic landscape and the troubled commercial real estate sector and how that could affect crypto prices.Greg takes the helm to analyze current flows and the intricacies of perpetual futures positioning, providing listeners with an insight into the market' sentiment. Sid brings to the fore the remarkable growth of Farcaster and the buzz around the Jupiter airdrop, highlighting the innovative developments within the Solana community.Beyond these updates, the episode covers a spectrum of critical topics:The latest on FTX, including their plans to return 100% of funds to customers based on current value and the decision against restarting the exchange.Insights into the Tether Foundation's profitability amidst the market's ebbs and flows.A discussion on mining from a supply perspective, including considerations around the halvening and the introduction of ordinals.A closer look at Farcaster Frames, which grants every user an onchain account on Optimism, showcasing the platform's meteoric rise in user engagement and the innovative applications developed by the community.Updates from the Solana ecosystem, including airdrops, new apps and the Chapter 2 phone.Don’t forget to like and subscribe for more thought-provoking discussions and stay at the forefront of digital asset trends and innovations. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

On Tuesday 30th January, the Coinbase Institutional Team hosted Jules Urbach the CEO of Otoy, the company behind Render and Trevor Harries-Jones, the COO. Located at our Hudson Yards office, David Duong (Head of Institutional Research) and Ben Rodriguez (Senior Protocol Specialist) conducted an insightful fireside discussing the following:Rendering of 3D content vs decentralized GPUHow they overcome some of the key bottlenecks such as data quality, model complexity, and hardware limitationsThe recent announcement of the Render Network FoundationRender’s rationale behind migrating to the Solana ecosystemCrypto’s cold start problem & sustainable DePIN development Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this enlightening episode, we’re joined by Ben Dean, Director of Digital Assets at WisdomTree, to unravel the complexities and future of cryptocurrency ETFs. Ben shares his journey into the crypto space deep dives into the current state of spot Bitcoin ETFs, 2 weeks post-launch, amidst Bitcoin’s weakness.We discuss the potential for an Ethereum ETF and the nuanced demand potentially awaiting unlock for Ethereum exposure. The conversation also covers forthcoming ETH ETF deadlines, suggesting a significant probability increase for approvals, with a keen eye on May as a critical timeline. The conversation navigates to concerns around security classifications, staking complications, and the intricacies of ETF redemption processes. Moreover, Ben provides insights into the existence and success of ETH ETFs in Europe and Brazil versus the potential for a U.S. ETF, considering the unique regulatory and market dynamics. He also contemplates the future of Ethereum, including scaling, privacy enhancements, and the evolution of compliant tokenisation. Wrapping up, we touch on the prospects of SOL futures and an ETF, broadening the discussion to encompass the wider landscape of digital asset infrastructure.In addition to these topics, the episode also includes our regular segments on market flows, macroeconomic analysis and Web3, including the upcoming Jupiter airdrop, Telegram’s recent conference in London and Farcaster’s recent explosive user growth.Don’t forget to like and subscribe for more thought-provoking discussions and stay at the forefront of digital asset trends and innovations. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this captivating episode, we’re excited to host Arianna Simpson, General Partner at a16z and a seasoned veteran in the crypto space with over 11 years of experience. Arianna shares her profound insights into the direction of consumer Web3 heading into 2024, offering a unique perspective gained from her extensive involvement in the industry. We delve into the innovative developments observed during the crypto winter, uncovering what has been brewing behind the scenes. Arianna discusses the burgeoning potential of Web3 gaming and creator economies, highlighting how these domains are set to revolutionize user interaction and engagement. The conversation shifts to the key themes a16z is focusing on within the Web3 space, including infrastructure trends that are paving the way for new use cases. Arianna talks about the importance of scalable Layer 2 solutions like Base and Optimism (OP), and how they're enabling more consumer-friendly applications. We also explore the dynamics of Web3 communities, the diversity among developers in this space, and overarching consumer trends. Arianna then provides an overview of the a16z State of Crypto index, covering vital indicators like active addresses, developer activity, and NFT creator trends. For those want to test in real life, the discussion on Blackbird, a Web3 powered restaurant loyalty network was especially relevant for those in NYC for Restaurant Week. Additionally, we touch upon the growing traction of Web3 social platforms, with a focus on Farcaster on Optimism. In addition to these topics, the episode also includes our regular segments on market flows and macroeconomic analysis. Don't forget to like and subscribe for more thought-provoking discussions and stay at the forefront of digital asset trends and innovations. Links mentioned a16z State of Crypto Index - https://a16zcrypto.com/stateofcrypto/  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this special edition of our podcast with James Seyffart, an ETF research analyst at Bloomberg intelligence, we dive into the launch of spot bitcoin ETFs in the US - a watershed moment for the expansion of the cryptoeconomy. We compare and contrast these products with BITO and the seminal gold ETF, hypothesize on their future differentiation, and consider key aspects such as proof of reserves and fee waivers.We also cover liquidity and AUM perspectives and the other attributes that may help ETFs succeed, alongside our thoughts on market share distribution and the strategic considerations for issuers post-launch. The conversation then looks at where additional demand may come from -- such as the integration of these ETFs into diverse portfolios,  other ETFs and model portfolio allocations.Additionally, we unravel the complexities of wirehouses, explaining their function and impact on custodial relationships. As we explore product developments atop ETFs, we touch upon potential restrictions, such as the prohibition of options, and the often slow adoption rate of some platform houses.This episode is a must-listen for anyone seeking to understand the new bitcoin ETFs. Tune in for a comprehensive understanding of what the next year holds and remember to subscribe for more in-depth analysis and expert takes on the crypto market's future. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In the final podcast of the year, we delve into David’s comprehensive 2024 crypto market outlook (read it here), offering a glimpse into the future of key players like Solana, Ethereum, and Bitcoin. David unpacks the potential trajectories and pivotal developments anticipated for these major assets, providing listeners with an informed perspective on what to expect in the coming year.We also explore the evolving landscape of ETFs within the crypto space, discussing their potential impact and the new dynamics and products they might introduce. Special attention is given to DEPIN and the burgeoning area of Data Availability, highlighting how these elements could reshape the digital asset environment for the better.At the end of the call, our team shares their personal excitement for 2024, revealing what they are most looking forward to. Whether it’s technological advancements, regulatory changes, or market trends, this segment offers a unique blend of professional analysis and personal enthusiasm.Wishing everyone Happy Holidays! Thank you so much for listening and remember to subscribe for more in-depth analysis and expert takes in 2024.Host:Ben Floyd, Head of Execution ServicesPanelists:David Duong, Head of Institutional ResearchGreg Sutton, Senior CES Sales TraderGeorg Toropov, Senior CES Sales Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this week’s episode, we welcome James Check, the lead analyst at Glassnode, as our special guest. James delves into the on-chain dynamics of the recent Bitcoin rally and its subsequent price drop last Sunday, offering a detailed analysis of the market’s movements. He sheds light on how the behavior of long-term holders and the average acquisition price of Bitcoin influence its trading patterns.Further exploring the lifecycle of bull markets, James provides an expert perspective on the different stages and what might lie ahead for crypto enthusiasts. A significant focus is placed on the upcoming Bitcoin halving in 2024, discussing potential outcomes and expectations within the community. James also examines the expanding world of derivatives in both onshore and offshore markets, highlighting their growing impact on the cryptocurrency landscape.Josh then steers us through a comprehensive market update, focusing on significant developments in the Solana ecosystem, including Orca and Helium, along with Helium’s new mobile plan and the notable rise in AVAX.David concludes the episode with a macroeconomic overview and teases some key findings from our recent survey conducted in collaboration with Interactive Investor, offering a glimpse into the sentiments and trends shaping the future of digital assets.Remember to subscribe for more in-depth discussions and expert insights in the dynamic world of crypto. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this week's episode of our podcast, we're joined by special guest Anjan Vinod, Vice President at Parafi, one of the oldest crypto funds, who brings a wealth of expertise in the evolving landscape of digital assets. Anjan dives into the intricate trade-offs between modular and monolithic blockchain structures, discussing how these choices impact the ecosystem. He also sheds light on the burgeoning growth in Real World Assets within the crypto space, along with insights into the DEPIN..Anjan further explores the evolving landscape of stablecoins, dissecting their product-market fit and potential future trajectories. The discussion also veers into the realm of prediction markets, examining their past, current status and future prospects.Georg then takes us through a comprehensive market update. He analyzes the current dynamics of BTC and ETH dominance versus altcoins, highlighting significant capital rotations into altcoins with STX as a prime example. Georg also discusses Celestia’s performance, attributing its success to the rising popularity of modular chains.Finally, David provides an overview of the upcoming macroeconomic data and its potential impact on the crypto market, pinpointing specific crypto-related elements that warrant close attention.Don’t forget to subscribe for more insights and in-depth analysis in the fast-paced world of digital assets.Host:Ben Floyd, Head of Execution ServicesGuests:Anjan Vinod, Vice President at ParafiGeorg Toropov, Senior CES Sales TraderDavid Duong, Head of Institutional Research Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of our podcast, Josh kicks off with the latest news shaking the crypto world. We dissect the Binance news, delve into the groundbreaking entry of USDC in Japan, and analyze recent trends in crypto fund inflows. David takes the reins to explore macroeconomic factors, focusing on consumer spending and what the outlook for 2024 could mean for the digital asset space. This segment offers a crucial understanding of how broader economic trends might influence crypto markets. Greg, in his segment, presents an intriguing hypothesis from a recent JPM note on potential flows in GBTC post any ETF conversion. He also breaks down the futures basis in Bitcoin, offering strategies on how to navigate these trades, and highlights an uptick in flows observed on the desk. Lastly, we dive into the realm of Web3 with Sid. The launch of Blast, a new Layer 2 platform created by the founder of Blur, has garnered attention with a staggering $600 million in TVL in its first week. We also discuss the possible ramifications of a potential hard fork in Cosmos, providing insights into what this could mean for the ecosystem. Don’t forget to like, subscribe, and connect with the Coinbase Institutional team for further insights and updates. Host: Ben Floyd, Head of Execution Services Panelists: Josh Pak, CES Sales Trader David Duong, Head of Institutional Research Greg Sutton, Senior CES Sales Trader Sid Shekhar, Blockchain Research Manager Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this special Thanksgiving episode, we invite some of our previous guests to talk through two themes:1. What they’re excited about across markets and web32. What they’re thankful for!Thank you to the following contributors for their incredible insights!Tania Reif, Founder & CEO - Senda Digital AssetsSeth Ginns, Managing Partner - CoinfundDavid Duong, Head of Research - CoinbaseJennifer Murphy, Founder & CEO - Runa Digital AssetsCosmo Jiang, Portfolio Manager - PanteraVance Spencer, Co-Founder - Framework VenturesSid Shekhar, Blockchain Research Manager - CoinbaseJai Prasad, Co-Founder - DefinitiveViktor Bunin, Group Protocol Specialist - CoinbaseAnthony Bassili, Head of Tokenization - CoinbaseThanks for listening in and Happy Thanksgiving! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this episode of the Coinbase Institutional podcast, we delve into investor positioning and reveal pivotal insights into ETF expectations, the impact of the upcoming halving, and other considerations dominating institutional minds. We also tackle the burning question on everyone’s lips: are we in a bull market? Our analysis takes a deep dive into the latest macroeconomic data, flows and news, providing listeners with a comprehensive understanding of the current climate influencing digital assets. Additionally, we cover new and returning capital in the crypto space and take a look at futures basis and the Grayscale product discounts. In Web3, we discuss the uptick in Solana and a general update on the increased activity we’re seeing here. Don’t forget to like, subscribe, and connect with the Coinbase Institutional team for further insights and updates. Host: Ben Floyd, Head of Execution Services Panel: Georg Toropov, Senior CES Salestrader David Duong, Head of Institutional Research Greg Sutton, Senior CES Salestrader Sid Shekhar, Blockchain Research Manager  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

On Friday 27th October, the Coinbase Institutional team hosted Robbie Ferguson, the Co-Founder and President of Immutable. Located at our Hudson Yards office, David Duong (Head of Institutional Research) and Ben Rodriguez (Senior Protocol Specialist) conducted a far reaching interview discussing the following:Immutable partnership with Polygon LabsThe Immutable PassportThe dynamics behind the IMX tokenHow the Immutable team think about zero knowledge technologyWhat the outlook is for a breakout triple A rated game integrated with Web3 Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this week edition of the Coinbase Institutional podcast, we sit down with Tushar Jain, Managing Partner at Multicoin Capital, for an in-depth discussion on Solana and insights from the recent Breakpoint conference. Tushar, with his intimate knowledge of Solana, unpacks the event's major highlights, including the buzz around Firedancer, Solana's ventures into payment solutions with heavyweights like Visa, and the innovative DePin projects. The conversation navigates through the frameworks Tushar uses when valuing Layer 1 protocols, focusing on the metrics he finds most important, while also contrasting integrated and modular blockchain infrastructure. Tushar also shares his perspective on the lingering FTX overhang of SOL tokens affecting the market. Also covered - Basis and funding - Macro - Web3 This episode is an essential listen for anyone looking to comprehend the current dynamics of shaping Solana's ecosystem. Like, subscribe, and reach out to the Coinbase Institutional team for deeper insights and analysis. Host: Ben Floyd, Head of Execution Services Panel: Tushar Jain, Managing Partner at Multicoin Capital David Duong, Head of Institutional Research Greg Sutton, Senior CES Sales Trader Sid Shekhar, Blockchain Research Manager Josh Pak, CES Sales Trader Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

We’re joined by Jennifer Murphy, the innovative Founder and CEO of Runa Digital Assets, to discuss the current market environment and answer the question on everyone's mind: are we in a bull market?Jennifer spent over 30 years in asset management before founding Runa and brings her extensive knowledge to the table, providing valuable insights on the pressing question of whether we are currently navigating a bull market in digital assets. She meticulously discusses the far-reaching implications of introducing an ETF to the crypto space, and shares her expert perspective on Network Theory.David and Jennifer explore the rapidly evolving frameworks for valuing digital assets, shedding light on the nuances and trends shaping the market. The conversation also turns to the world of Gamefi, where the opportunities and potential pitfalls in this exciting domain are discussed.Beyond these topics, the episode also features a timely update on Solana in anticipation of the Breakpoint event, a thoughtful analysis of Van Eck’s take on Sol, and an in-depth exploration of the Unibot exploit and the integration of real-world assets on the Tron network which are now well over $1B.Like, subscribe, and reach out to the Coinbase Institutional team for deeper insights and analysis. Host:Ben Floyd, Head of Execution Services Guests:Jennifer Murphy, Founder and CEO at Runa Digital AssetsGeorg Toropov, Senior CES SalestraderDavid Duong, Head of Institutional ResearchGreg Sutton, Senior CES SalestraderSid Shekhar, Blockchain Research Manager Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us for this week’s crypto podcast, featuring Paul Yablon, Founder and CIO at Room40, as a special guest. Paul walks through the structural changes in the crypto market that have underpinned the price action over the past weeks and elaborates on reasons for the current rally. David and Paul engage in a conversation about macroeconomic trends, inflationary vs deflationary pressures and the outlook for the US economy also discussing the idiosyncratic decoupling of crypto despite macro concerns. Paul also shares some insights on Solana, real world assets in crypto and other projects he is excited about. Georg walks through the latest ETF news driving the price action of the last week, dealer BTC vs ETH gamma profiles and altcoin performance while Greg shares some colour on institutional interest picking up, trading volumes and flows. Sid then concludes talking about DYDX v4, Celestia’s upcoming mainnet launch and a large sell off in Friend tech as well as the rise of competing SocialFi protocols. Please like or subscribe if you like our content and reach out to the Coinbase institutional team if you want to get more insights! Featuring: Ben Floyd, Head of Execution Services Special guest:Paul Yablon, Founder and CIO at Room40 Panel:Georg Toropov, Senior CES Salestrader David Duong, Head of Institutional ResearchGreg Sutton, Senior CES SalestraderSid Shekhar, Blockchain Research Manager  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we look beyond the fake news on spot bitcoin ETF applications and discuss what’s next following the SEC’s decision not to appeal the ruling in the Grayscale case. Josh takes us through this and the latest crypto news, including new fees on Uniswap’s front end. David discusses a busy macro week with a number of Federal Reserve speakers on the tape including Chair Jerome Powell on Thursday (October 19) alongside retail sales, housing data and 3Q23 equity earnings. He also talks about entry and exit queues on Ethereum and the effect on staking yields. Greg provides updates on trading volumes and compares technical charts for BTC/USD vs ETH/USD. Finally, Sid walks us through emerging developments on friend.tech and the TrueUSD security breach.Please like or subscribe if you like our content!Host Ben Floyd, Head of Execution Services Presenters Josh Pak, CES Salestrader David Duong, Head of Institutional Research Greg Sutton, Senior CES Salestrader Sid Shekhar, Staff Blockchain Researcher Link to Research and Insights Hub. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Welcome to this week's crypto podcast, featuring a special guest, Cosmo Jiang, Portfolio Manager at Pantera Capital, a veteran in traditional finance with 12 years of experience spanning M&A, PE, and L/S equity hedge funds. Cosmo provides valuable insights into the world of crypto and blockchain. Cosmo discusses various aspects of the crypto landscape, including the competition between Layer 2 solutions and Ethereum, the potential for expanding the Total Addressable Market (TAM) as Layer 2 scales, the emergence of major consumer applications, the concept of account abstraction, the intersection of NFTs and gaming, and the significance of decentralized compute networks like DEPIN. Also covered by the team: - Positioning, comparing the skew of ETH versus BTC in the market. - The Grayscale appeal this week and provides macroeconomic insights. - Market flows and comparing ETH versus BTC futures. He also delves into the dynamics of ETH transactions. - Sid returns to discuss the latest developments in friendtech, soon to launch ARB incentives, and the tokenization of Real World Assets (RWA), providing a well-rounded view of the Web3 ecosystem. Host Ben Floyd, Head of Execution Services Special Guest Cosmo Jiang, Portfolio Manager at Pantera Capital Presenters Georg Toropov, Senior CES Salestrader David Duong, Head of Institutional Research Greg Sutton, Senior CES Salestrader Sid Shekhar, Blockchain Research Manager Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us for this week’s crypto podcast, featuring Seth Ginns, Managing Partner at CoinFund.Georg starts the podcast discussing recent price action, some news around new Coinbase licenses and an update on FTX.David and Seth engage in a conversation about macroeconomic trends, discussing peak USD, real rates, and core inflation and provide an opinion on what to look out for in the coming months.Greg provides updates on institutional interest, trading volumes, quickly moving BTC basis rates, and the current discounts of ETHE and GBTC.Seth concludes with a discussion on tokenization in Real World Assets (RWA), exploring this emerging trend in the crypto space.Host Ben Floyd, Head of Execution Services Special Guest Seth Ginns, Managing Partner at CoinFund Presenters Georg Toropov, Senior CES Salestrader David Duong, Head of Institutional Research Greg Sutton, Senior CES Salestrader  Link to Research and Insights Hub. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us for this week’s podcast, featuring a special guest, Lewis Cohen, a leading blockchain lawyer, who provides us with a regulatory update. Lewis shares essential insights into current cases that demand our attention and offers his outlook on regulation, including the potential for an ETF approval.David takes a deep dive into the macro outlook, discussing the possibility of a government shutdown and evaluating the recent performance of various assets based on key metrics like Total Value Locked (TVL), revenue, and active addresses.Greg and Josh dive into the upcoming options expiry, exploring its potential impact on the crypto market. They also discuss Tether’s investments in miners, exchanges operating without licenses in Hong Kong and recent flows on the desk.HostBen Floyd, Head of Execution ServicesSpecial GuestLewis Cohen, Co-Founder DLXLawPresentersDavid Duong, Head of Institutional ResearchGreg Sutton, Senior CES SalestraderJoshua Pak, CES SalestraderLink to Research and Insights Hubhttps://www.coinbase.com/institutional/research-insights Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

David reports on Token2049. He takes us through what participants were most interested in and the general sentiment. He also covers the upcoming macro calendar and what we could expect from the FOMC. The team reviews recent market action, including spot flows and a large ETH option trade that got the market talking. Lastly, Sid touches on Eigenlayer and why data availability is important. He also provides an update on friend.tech. Participants: Ben Floyd, Head of Execution Services (host) David Duong, Head of Institutional Research Greg Sutton, Senior CES Salestrader Josh Pak, CES Salestrader Sid Shekhar, Blockchain Research Manager Check out our institutional research & insights. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, Greg and Georg provide an in-depth analysis of the FTX court documents, addressing questions about the selling timeline, important assets in the estate, market impact expectations, and the implications for GBTC and ETHE holdings. They also discuss potential recovery and current claims trading valuations. Plus, they explore the potential insights from the court filing regarding FTX 2.0.In the macro segment, Georg and Greg provide insights into the broader economic landscape, including bear steepening in the US yield curve, upcoming US CPI data, and central bank decisions. They also touch on recent comments from Janet Yellen and expectations regarding monetary policy changes.Sid takes the stage to discuss Web3 developments, including updates on Friend.tech, explains how their protocol fees work, and the benefits of buying keys (following someone on the platform). He also highlights the growth of real-world assets on the blockchain through platforms like Maple and Ondo, hosted on L2 solutions like Mantle, Ethereum and Stellar.Host:Ben Floyd, Head of Execution ServicesParticipants:Greg Sutton, Senior CES SalestraderGeorge Toropov, Senior CES SalestraderSid Shekar, Blockchain Research ManagerLinks for show notes: Coinbase Execution Services Market Positioning Report FTX Court Filing - Doc 2463 Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week Matt Boyd, Head of Prime Finance at Coinbase, joins the group to talk about shorting and lending in crypto. The team also covers the whipsaw price action the market endured after the GBTC news was released. What are the important catalysts now and when might we hear more? David gives us his thoughts on the macro calendar and last week’s NFP print. Lastly, with the GBTC discount now at 20%. What does that say about the probability of an ETF?HostBen Floyd, Head of Execution ServicesPresentersMatt Boyd, Head of Prime FinancingDavid Duong, Head of Institutional ResearchGreg Sutton, Senior CES SalestraderGeorge Toropov, Senior CES SalestraderLink to Research and Insights Hub. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Grayscale's legal victory is a big moment for the crypto industry. We discuss its implications and dive into how different investors may be thinking about the GBTC trade now as well as what they could do next. In macro, we discuss the significant comments made by Jerome Powell at Jackson Hole, offering valuable insights into the impact on the broader crypto complex.Greg then provides an update on August volumes and positioning post Jackson Hole and pre the Grayscale news covering both spot and vol.Sid takes the stage to provide updates on BASE, discussing its governance structure and plans for decentralization. He also shares an exciting update on friends.tech, shedding light on the latest developments and innovations in this intriguing domain.HostBen Floyd, Head of Execution ServicesPresentersDavid Duong, Head of Institutional ResearchGreg Sutton, Senior CES SalestraderSid Shekhar, Staff Blockchain ResearcherLink to Research and Insights Hub Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The team breaks down last week’s market volatility, what they think caused it, and how traders are positioned going forward. With rates likely to stay higher for longer, what does that mean for crypto? And will a slow down in China help or hurt our markets? Lastly, Sid teaches us about the new decentralized social app Friend.tech. Host: Josh Pak, Senior CES Salestrader Guests: Georg Toropov, Senior CES Salestrader David Duong, Head of Institutional Research Greg Sutton, Senior CES Salestrader Sid Shekar, Blockchain Research Manager  Visit the Research and Insights Hub: https://www.coinbase.com/institutional/research-insights  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Vance Spencer, co-founder of Framework Ventures, joins the group this week to talk about the opportunities he sees in the crypto markets. David provides insight into the evolving macro landscape. Greg highlights divergent positioning in BTC and ETH. Sid updates us on the Base launch. And Georg brings us up to speed on this week’s crypto news.Host Josh Pak, Senior CES SalestraderPresenters Georg Toropov, Senior CES SalestraderDavid Duong, Head of Institutional ResearchGreg Sutton, Senior CES SalestraderSid Shekar, Blockchain Research ManagerLink to Research and Insights Hub Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week we welcome a special guest, Rick Schonberg, Product Director for Coinbase’s institutional platform, to talk about exciting developments to Coinbase Prime’s algo offering. Georg gives a market update, discussing recent alt coin movers and Tether trading dynamics. David shares his views on the economy both in the U.S. and abroad, and the implications this has for the crypto market. Trish walks through flows and divergent seasonality aspects to consider for crypto relative traditional markets. Lastly Sid gives a Curve update and shares some opening metrics for the launch of Base mainnet.HostJosh Pak, Senior CES SalestraderPanelistsGeorg Toropov, Senior CES SalestraderDavid Duong, Head of Institutional ResearchTrishul Luhar, Senior CES SalestraderSid Shekar, Blockchain Research ManagerLink to Research and Insights Hub Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week the team covers the CRV exploit, what a reentrancy attack is, and what the exploit means for DeFi and liquidity. George also touches on the Base launch and the movers from last week. David reviews what were learned from central banks, USD strength, and crypto correlations. Trish takes us through flows with a focus on retail. He also provides insight into institutional client sentiment heading into late summer Host Greg Sutton, Senior CES Salestrader Presenters Georg Toropov, Senior CES Salestrader David Duong, Head of Institutional Research Trishul Luhar, Senior CES Salestrader Sid Shekar, Blockchain Research Manager Link to Research and Insights Hub Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Ryan Yi from Coinbase Ventures starts us off with an overview of Coinbase Ventures, delving into the current venture funding environment and discussing recent improvements to builder ecosystems, user experience, and utility in the crypto space.Georg shares updates on the reduced BTC dominance offshore, the launch of Worldcoin, and developments in the XRP case.David offers a comprehensive summary of major macro events this week, including updates from the Fed, ECB, BOJ, and others. He also highlights key takeaways from EthCC, covering discussions on Coinbase’s Cafe, Vitalik's insights on account abstraction, and Justin Drake's thoughts on MEV burn as well as decentralized sequencers, DVT, and zk proofs.Greg shares insights on institutional flows, the options market, and his thoughts on positioning in the current market, offering valuable perspectives for investors and traders.Tammy explores the potential applications of blockchain and AI/ML, focusing on the intriguing combination of zero-knowledge proofs (ZK) and AI. She discusses how these technologies could revolutionize various industries, presenting exciting opportunities for innovation.HostBen Floyd, Head of Execution ServicesSpecial GuestRyan Yi, Coinbase VenturesPresentersGeorg Toropov, Senior CES SalestraderDavid Duong, Head of Institutional ResearchGreg Sutton, Senior CES SalestraderTammy Yang, Senior Blockchain ResearcherLink to Research and Insights Hubhttps://www.coinbase.com/institutional/research-insights Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Welcome to this week’s podcast, where our expert panel dives into a wide range of topics shaping the crypto landscape.This week, Special guest Jordan Salberg, Senior Counsel, Product kicks off the discussion by providing insights on the recent XRP ruling, what that means for the industry and other assets. He also updates us on the ongoing ETF process and what we should be looking out for in the coming weeks.Georg delves into fund inflows and outperformance of certain alt coins. He also covers BTC/ETH dominance trends, his thoughts on the pull back towards the end of the week and some of the recent positive comments.David focuses on recent inflation print, discussing their implications for the broader economy. He also provides insights on the upcoming Fed meeting and the latest economic data from China, offering a comprehensive macroeconomic perspective.Greg takes a closer look at market flows, analyzing the impact of the recent summary judgment on market dynamics. He also explores the options markets, providing valuable insights into trading trends and also his perspective on the pull back.Tammy Yang, a Senior Blockchain Researcher steps in for Sid, providing an update on custodial and non-custodial stablecoins. She highlights the recent launch of Gho by Aave and offers insights into the evolving landscape of stablecoin solutions.Please, don’t forget to like and subscribe so others can benefit from the team’s great content!HostBen Floyd, Head of Execution ServicesSpecial GuestJordan Salberg, Senior Counsel, ProductPresentersGeorg Toropov, Senior CES SalestraderDavid Duong, Head of Institutional ResearchGreg Sutton, Senior CES SalestraderTammy Yang, Senior Blockchain ResearcherLink to Research and Insights Hubhttps://www.coinbase.com/institutional/research-insights Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, our Special Guest, Brian Foster takes the lead, exploring the significance of the recent ETF applications, Coinbase’s role in this space, and explains the surveillance sharing aspect. He dives into why now is an opportune time for ETFs and discusses their relation to other ways of accessing bitcoin and crypto, including Coinbase’s own retail business.Josh provides a market update, covering the biggest movers and the latest trends in NFT floors. He also discusses BTCs positive dynamics, the Binance.US discount, DCG-related news, and developments in the Polygon and Arbitrum ecosystems.David covers important upcoming economic indicators such as CPI, PPI, and earnings reports from notable institutions like JPM and Citi. He also runs through the Cancun upgrade roadmap and the recent progress of L2 scaling solutions.Greg analyzes flows and volatility, sharing insights on BTC and ETH basis. He also discusses the recent trends in the Bored Ape NFT market.Sid addresses recent multichain hacks, providing analysis and insights into their impact on the crypto landscape and looks forward to EthCC in Paris next week.Please, don’t forget to like and subscribe so others can benefit from the team’s great content!HostBen Floyd, Head of Execution ServicesSpecial GuestBrian Foster, Director Americas Institutional SalesPresentersJoshua Pak, CES SalestraderDavid Duong, Head of Institutional ResearchGreg Sutton, Senior CES SalestraderSid Shekar, Engineering ManagerLink to Research and Insights Hubhttps://www.coinbase.com/institutional/research-insights Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us for this week’s podcast where we cover recent market events in digital assets. Our trading team walks through token fundamentals and the surprising relative underperformance in ETH. We also discuss interesting flows, BTC dominance, and the somewhat unexpected alt-coin inflows seen on the desk in the last week. David walks through recent Central Bank policy updates and key takeaways from today’s ECB forum and the impact we could expect to see in liquidity conditions. Lastly, Sid, chats all things NFTs and walks through key indicators to assess market demand.Watch the video or listen to the podcast on Spotify, Apple, or Audible.Please RSVP to attend Coinbase Institutional’s exclusive web-event with Justin Drake from the Ethereum Foundation at https://ethereumupgradesandeconomics.splashthat.com/.Link to Research and Insights Hub: https://www.coinbase.com/institutional/research-insights.Host Josh Pak, CES Salestrader Presenters Georg Toropov, Senior CES Salestrader David Duong, Head of Institutional Research Trishul Luhar, Senior CES Salestrader Sid Shekar, Blockchain Research Manager  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us for this week’s podcast where we cover recent events in the digital asset space. Our trading team discusses USDT and recent revelations around its past portfolio composition. We also explain how the Curve 3 Pool works and how the recent USDT imbalance can create arbitrage opportunities. David Duong, our Head of Research, takes us through the recent FOMC meeting and what it means for the macro backdrop as we head into summer. We also discuss perp funding rates, option skew, and improving seasonality trends. Lastly, Sid, our Senior Blockchain Researcher, talks opBNB and OP. Host Ben Floyd, Head of Execution Services Presenters Georg Toropov, Senior CES Salestrader David Duong, Head of Institutional Research Greg Sutton, Senior CES Salestrader Sid Shekar, Engineering Manager Link to Research and Insights Hub Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join the Coinbase Institutional team where our expert panel discusses a wide range of topics shaping the crypto landscape.Georg kicks off the discussion, sharing insights on the dominance of ETH and BTC and the recent price movements. Diving into details around the distribution of liquidity, he covers offshore volumes, DEX volumes, and the growth in USDT, providing valuable analysis on the dynamics of these key aspects in the crypto market.David delves into key regulatory updates, including the release of the Hinman papers and the US House financial services draft legislation that outlines some potential paths for digital assets. He also provides insights on the CPI release and the upcoming Fed announcements.Greg explores investor behavior around the recent market movements, analyzing volatility, changes in open interest, specific funding rates on tokens, and the impact of client flows on market dynamics.Sid concludes the podcast by discussing the release of Uniswap V4, sharing his initial impressions. He also provides updates on the OP Bedrock upgrade, a significant development in the Web3 ecosystem.Please, don’t forget to like and subscribe so others can benefit from the team’s great content!HostBen Floyd, Head of Execution ServicesPresentersGeorg Toropov, Senior CES SalestraderDavid Duong, Head of Institutional ResearchGreg Sutton, Senior CES SalestraderSid Shekar, Engineering ManagerLink to Research and Insights Hubhttps://www.coinbase.com/institutional/research-insights Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us for this week's podcast with insights and analysis on a range of topics impacting the digital asset space. Josh covers the latest market movers and the exciting intersection of AI with crypto, providing valuable insights into emerging trends and developments. Greg delves into macro analysis, exploring key insights and dates to watch out for. He also comments on market flows and crypto's recent volatility dynamics. Sid discusses the remarkable growth of the ETH staking queue and its implications, along with the latest developments in Web3, including a proposal for fees in Uniswap transactions. Mentioned in this recording: Patience is beautiful: https://cryptohayes.substack.com/p/patience-is-beautiful.Host - Ben Floyd, head of execution services Panelists - Josh Pak, CES sales trader Greg Sutton, Senior CES sales trader Sid Shekhar, Blockchain research manager Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this week’s podcast, our special guest, Usman Naeem, who leads our derivative and agency trading businesses, shares his unique insights on navigating the crypto ecosystem’s volatility markets, shedding light on a market that can be challenging to understand. He runs through the recent changes in implied vs realised vol and how the skew and term structures has evolved recently and some thoughts on how people could think about trading vol here.Georg will then take the stage to provide a comprehensive market update, covering recent price action over the weekend, key technical indicators, and notable news.David leads us through the macro landscape, including discussions on the debt ceiling and the Non-Farm Payrolls (NFP) report for the week. Greg dives into exchange flows and desk activities, exploring the latest trends and dynamics.To wrap up the call, Sid will delve into the exciting developments in Web3, touching upon a governance related exploit to Tornado Cash and his thoughts on Vitalik’s blog post about utilising Ethereum’s security for 3rd party protocols.Join us for an informative and thought-provoking discussion as we cover crypto volatility, market updates, macro insights, exchange flows, and the fascinating world of Web3.Remember to subscribe and rate us if you find our discussions valuable.HostBen Floyd, Head of Execution ServicesSpecial GuestUsman Naeem, Head of Derivatives and Agency TradingPresentersGeorg Toropov, CES SalestraderDavid Duong, Head of Institutional ResearchGreg Sutton, Senior CES SalestraderCoinbase Institutional Research and Insights Hub Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

John D'Agostino is a senior advisor to Coinbase and Chairman of US Asset Management Committee for the Department for International Trade. He has also held board positions on a number well known traditional and crypto hedge funds, and is the subject of the book “Rigged, the True Story of an Ivy League Kid who Changed the World of Oil,” which chronicles his journey helping set up the Dubai Mercantile Exchange. HostBen Floyd, Head of Execution ServicesSpecial GuestJohn D’Agostino, Senior Adviser to CoinbasePresentersJoshua Pak, CES SalestraderDavid Duong, Head of Institutional ResearchGreg Sutton, Senior CES SalestraderVisit the Research and Insights Hub.Read John’s article about the UAE.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this week’s podcast, we bring you the latest updates and insights from the last seven days. Georg provides a market update, discussing recent trends, Tether’s BTC ownership, and shares insights on the various ways to buy $10 million worth of BTC. David shares an update on the debt ceiling and its implications for the crypto market, along with insights into retail sales and the latest developments in ETH staking. Greg dives into exchange flows and examines the potential impact of a large seller in the market, providing valuable analysis on what it could mean to the BTC price. Sid follows up on BRC20s, exploring topics such as a recently launched Uniswap clone and the latest advancements in BTC Layer 2 solutions, gaining traction. Check the show notes for a link to the team’s research, and don’t forget to subscribe and rate us if you find this discussion insightful. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this week’s podcast, we have a special guest, Lauren Abendschein, Global Head of Core Sales at Coinbase, who shares insights from her recent attendance at Consensus and Milken. Lauren has been with CB for over 5 years and has seen the institutional business from the start, making her a true OG in the industry. Joshua Pak provides us with a market update, including some large ETH sellers and updates on the latest memes. David updates us on the latest in macro, including CPI and an overview of the debt ceiling and its impact on crypto, along with what else to look out for. Greg runs us through exchange flows and provides an analysis of changes in open interest and softening of implied volatility. Sid breaks down the BTC congestions and BRC20s in more detail and what this could mean for BTC. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this week’s podcast, we dive into the policy landscape of the digital asset space with a special guest, Kara Calvert, Senior Director and Head of US Policy at Coinbase. Kara provides us with valuable insights into what’s happening in Washington and how it could impact the industry.Georg provides a market update, covering price action, a new product release from MPL that combines defi/tradfi, and the change in market cap dominance of major assets.David updates us on the Lido activation and withdrawals queues, the broader macro outlook what to watch at the Fed this week.Greg runs through exchange flows and what’s been happening on the desk, including the sharp move lower last Wednesday, and provides an analysis of options markets.Lastly, Sid discusses the memecoin frenzy that is driving up gas fees and causing a surge in unique addresses interfacing with dexes.HostBen Floyd, Head of Execution ServicesSpecial GuestKara Calvert, Head of US PolicyPresentersGeorg Toropov, Senior CES TraderDavid Duong, Head of Institutional ResearchGreg Sutton, Senior CES TraderSid Shekhar, Senior Blockchain ResearcherLinks mentioned in showInformation on Crypto 435Crypto 435 is our campaign to grow the crypto advocacy community and share tools and resources to make your voice heard.Please get in contact if you want to help drive policy forwardsMint a Stand With Crypto commemorative NFTCoinbase response to Wells NoticeCoinbase Research & Insights Hub Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week’s podcast covers a range of topics impacting the digital asset space. Georg dives into the recent price moves of BTC and ETH, which have trended lower due to technical factors. Georg also discusses the Markets in Crypto-Assets (MiCA) regulation memo, its potential impact on the industry and global regulation more broadly. In the macro section, David covers the dislocation of the front end of the US curve 1-3m and Goldman Sachs’ early X date (when the debt ceiling is hit) prediction. Greg and David also provide updates on a busy week of earnings and what that could mean for digital assets. Finally, Sid examines the latest developments in DeFi, including Agility ETH staking incentives driving a TVL over $200m and a16z’s launch on optimism in the Rust programming language. Tune in for insights and analysis on the latest news in the digital asset space. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us for a special edition of the Coinbase Institutional Markets Call featuring Tania Reif, Founder & CIO of Senda Digital Assets. Tania and the team share their insights on the highly anticipated Shapella upgrade and we discuss Tania’s views on the market after the upgrade and what she is looking out for in the macro environment. Zooming out, Tania shares some of her reflections on the industry post-2022 and some of her hopes for the future and what regulatory clarity could bring to the industry, especially the longer tail of assets. In addition, the team provides insights into how client trading flows have changed post the upgrade and the net withdrawal flows post Shapella. They also cover positioning in ETH, it’s recent strength and some of the big movers to the upside. This is an exclusive opportunity to gain unique perspectives from a leading expert in the digital asset space. Don’t miss out on this informative and engaging conversation. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, BTC and ETH are back at levels we haven’t seen for almost a year. The team provides some detail on the rally in BTC, and offers a technical analysis and outline of where we could go from here. They also discuss how ETH has outperformed most of the rest of the market ahead of the widely anticipated Shapella upgrade around 5:27pm ET (10:27pm UTC) on April 12. You can view a network overview including the activation and exit queues here - https://www.rated.network/overview In the macro update, the team shares their insights on the upcoming CPI print and the increasing rates volatility. We think the risk of recession is not currently being reflected properly by the equity markets. On the NFT front, the team discusses the Opensea Pro launch and the battle with Blur for market share. Finally, in our DeFi update, we cover the recent SushiSwap exploit, an update on zkEVM, and the Euler situation. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this week’s episode, the team focuses on the highly anticipated Shapella upgrade and its potential impact on Ethereum. The team discusses the bull and bear case for ETH post-upgrade, including the withdrawal queue and the potential for ETH sales. Moving on to Bitcoin, the team analyzes the continued strength of BTC and its implications for BTC miners. They also share their insights on which sectors have outperformed in Q1. In the macro update, David shares his thoughts on various macroeconomic factors such as non-farm payrolls, de-dollarization, and money market funds versus reverse repo. The team also covers CEX and DEX flows, providing listeners with valuable insights on the current trends in the market. Additionally, the episode features an update on Defi, including the latest developments such as Euler funds being returned, Arbitrum’s controversial proposal, and a ZK update. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

We explore why bitcoin has outperformed ether and many altcoins recently in the context of the current macro environment and the most likely path for the Federal Reserve. Meanwhile, our institutional team discusses the implications for markets from recent regulatory actions. Plus, the long-anticipated ARB airdrop has brought a lot of excitement to the Arbitrum (layer-2) ecosystem, but how should users think about its value going forward? Finally, on DeFi, we saw the launch of zkSync Era to general users and Polygon’s zkEVM mainnet beta go live with both networks seeing an increase in transactions. Tune in for an in-depth analysis on all of this and more and their potential impact on institutional investors. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, our institutional team discusses the news from UBS & CS and the continued weakness in certain regional banks despite significant support. They also explore the outperformance of crypto, the upcoming Fed meeting, and the differences between the new BTFP facility and QE. Additionally, they discuss the latest updates on DeFi including an update on the Euler hack, the Uniswap V4 delay, the Arbitrum airdrop and where that is trading. Lastly, they cover flows on the exchange and the recent increasing dominance of BTC. Tune in for an in-depth analysis on all of this and more and their potential impact on institutional investors. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

It’s been a busy week and while Bitcoin is up sharply, it has traded in a 35% range, wide even by Bitcoin’s standards. Georg and Greg saw flows that they never thought they’d encounter and Sid talks through how DeFi protocols had their fundamental principles questioned. We talk about what’s next and how we in crypto can rely less on the frailties of a legacy banking system. On CPI, David runs us through what this means to markets and what he’s looking out for in next week’s FOMC. Most importantly, what does the Fed think about the financial stresses of last weekend? Finally, Sid runs us through the potential bear case for ETH ahead of the Shanghai (+Capella) upgrade and the supply that may hit the market. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

In a relatively quiet market since the move down on March 3, we discuss perp funding rates turning negative ahead of the Mt Gox unlock and what we’re seeing on the trading and financing teams ahead of this. David shares key insights from his Asia client trip in the context of easing crypto regulations in HK and takes us through the upcoming macro events. Sid provides an update on the controversial Maker governance proposal. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The institutional trading team runs through the launch of Base and what they’re excited for in the coming months. Lido staking nears 75% with some very large transactions this week. The question of blockchain immutability is challenged in a court of law. The team also runs through their latest macro thoughts, the varied flows that they’re seeing on the desk and the re-orientation of stable coins as BUSD market share reduces by 33% over the last month. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week the team talks through how well crypto has held up in the face of higher rate expectations, possibly buoyed by flows from the Far East. They also cover Blur’s launch and incentive programs which helped it 4X OpenSea’s volumes last week and push them into a platform fee holiday. Lastly, the team provides an update on Ordinals and talks through the potential for L2s on Bitcoin. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Following the January inflation print, our institutional trading and research teams talk about the current state of crypto markets, the macro landscape, Bitcoin ordinals, and the Sepoelia testnet on February 28. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

A less hawkish Fed spurred the risk rally to continue last week, but recent economic data has created confusion among investors. Powell speaks to the Economic Club of Washington on Tuesday. Plus, our trading desk and research teams talk about digital artifacts on bitcoin, a controversial proposal on Uniswap, and recent market inflows. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

This is a big macro week for markets with the Federal Reserve, ECB, Bank of England, and US payrolls data on tap. Ahead of those events, our trading and research team discuss the factors moving prices, the slope of the rates curve, and where the surprise might be to markets. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week the team discusses the positive market performance despite Genesis filing for Chapter 11 and take a closer look at BTC & ETH futures. They also review the macro situation, looking ahead to the Fed meeting on January 31/February 1 and the US debt ceiling. Lastly, they review the Electric Capital report on developer activity in 2022 as well as recent news on Uniswap and Ethereum. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week the team covers what’s happened with the recent run-up in prices, including:► What tokens have gained the most (hint: ChatGPT is playing a role)► Trade flows and what hedge funds, miners, and corporates have been doing recently► The upcoming spotlight that the macro environment might place on crypto prices The team also shares some of the takeaways from the thousand of pages of year ahead reports we’ve all been reading. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week the team covers what’s happened over the break including:► Has SBF or Alameda’s wallet been selling SOL? Wallets connected to them appear to be► The ongoing DCG & Gemini situation which has been taken to twitter► ETH upgrades, updates on staked ETH and who is benefitingThe team also shares some of the takeaways from the thousand of pages of year ahead reports we’ve all been reading.SUBSCRIBE + Additional Resources:► To view this week's episode on Youtube: https://www.youtube.com/watch?v=GQA7bfOMMZs► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinsto This content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Crypto trades higher on inflation surprise, but the Fed’s tone on Dec 14 could still dent the rally. The arrest of SBF is deflecting some of the attention away from the US House Financial Services hearings on FTX. Outflows at Binance unnerve some investors, but they’re relatively small relative to reserves. And finally, our predictions for markets and the crypto landscape in 2023. SUBSCRIBE + Additional Resources:► To view this week's episode on Youtube:https://www.youtube.com/watch?v=GEfr3G8Jt2M► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinsto This content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

With FTX related fears moving into the rear view mirror, this week the team is talking through macro data points to watch out for, the strong out performance of LTC, and whether we will see a Santa Claus rally into year end. The team also tackles steep losses at Maple, a hack at ANKR, and share a PSA for BAYC holders. SUBSCRIBE + Additional Resources:► To view this week's episode on Youtube: https://youtu.be/ykQhCJqjs3w► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinsto This content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A quieter week for crypto, but there’s still contagion fears and macro risks on the horizon. The team discuss the mining sector and whether or not we should be worried about contagion. Sid also takes us through Curve’s new product launch which forced a short seller to cover their position in a 50% up move. SUBSCRIBE + Additional Resources:► Please review Coinbase's approach to risk management and consumer protection: https://www.coinbase.com/blog/our-approach-to-transparency-risk-management-and-consumer-protection► To view this week's episode on Youtube: https://youtu.be/RQku-39faKQ► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinsto This content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week the team discusses the recent announcements from Genesis and DCG and what that could mean for the crypto space and GBTC product. We also provide an update on where the hacked funds from FTX are. SUBSCRIBE + Additional Resources:► Please review Coinbase's approach to risk management and consumer protection: https://www.coinbase.com/blog/our-approach-to-transparency-risk-management-and-consumer-protection► To view this week's episode on Youtube: https://youtu.be/195YjOZqkUM► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinsto This content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, we welcome two senior members of the Coinbase Institutional Sales team, to talk us through how institutions feel about crypto post FTX fallout and what the path forward looks like. We also dig into how this has affected the trading in crypto markets, what we learned by looking on-chain and of course, what the macro outlook is! SUBSCRIBE + Additional Resources:► Please review Coinbase's approach to risk management and consumer protection: https://www.coinbase.com/blog/our-approach-to-transparency-risk-management-and-consumer-protection► To view this week's episode on Youtube: https://youtu.be/prZcEukOUis► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinsto This content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A lot has happened in crypto over the last 24 hours. The CB Institutional team break down the FTX/Alameda situation, what could happen next for FTX & SOL and what we’ve seen and heard from clients in the last 24 hours.DISCLAIMER: This episode was recorded on the morning of November 9, 2022. At the time of recording Binance and FTX had publicly announced a tentative arrangement where Binance would fully acquire FTX.com. This story is developing therefore facts and viewpoints expressed may change.SUBSCRIBE + Additional Resources:► Please review Coinbase's approach to risk management and consumer protection: https://www.coinbase.com/blog/our-approach-to-transparency-risk-management-and-consumer-protection► To view this week's episode on Youtube: https://www.youtube.com/watch?v=XPh-h9gzH4Q► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinsto This content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content.  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Coinbase's VP of Global Regulatory Policy Scott Bauguess talks through what’s going on in DC with SBF’s proposal, Vitalik’s response and what the next few months could look like. We also talk about Coinbase supporting Ripple and Grayscale.David talks through what to expect from the FED this week and his outlook for the end of the year. Georg covers some big movers and Greg runs through what he’s seeing on the desk on on the exchange.  SUBSCRIBE + MORE:► To view this week's episode on Youtube: https://www.youtube.com/watch?v=rflpJ3lavNY► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinsto This content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week the team covers SBF’s regulatory musings, ETH and BTC volumes on exchange and what it means for the market overall, along with upcoming macro catalysts. We also discuss the recent proposal of MakerDAO to blend CeFi and DeFi, as well as voting dynamics on Uniswap and the Reddit Avatars NFT launch.  SUBSCRIBE:► To view this week's episode on Youtube: https://www.youtube.com/watch?v=iuGjD55O0jw► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinsto Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A week where crypto prices ended up in the green, despite another large DeFi exploit. We also saw a new L1 has launch too much fanfare. We were given a better idea of the roadmap for the ETH Shanghai update and Wintermute repaid a large loan, confirming their solvency after their recent incident.  SUBSCRIBE:► To view this week's episode on Youtube: https://www.youtube.com/watch?v=ZL1GL0C3pbA► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinsto This content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week the team covers US CPI, Ripple’s Win, Weaker Volumes and the Binance Smart Chain exploit.SUBSCRIBE:► To view this week's episode on Youtube: https://www.youtube.com/watch?v=wu9OBpSpcz0► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinstoThis content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week the team covers US dollar strength and extreme moves in the British Pound. Flows also turned risk off, but BTC and ETH have still been outperforming traditional FX. Sid covers the USDC expansion and updates to the Cosmos ecosystem.SUBSCRIBE:► To view this week's episode on Youtube: https://www.youtube.com/watch?v=PE157kz9YjI► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinstoThis content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Coinbase trading and research teams cover the successful ETH Merge and discuss what's next. They run through the two new ETH POW assets and their value today. It's an important week for Macro and David runs through what to look out for in the US and abroad. Lastly, Sid runs through the $160m hack of Wintermute, one of the most sophisticated market makers in crypto.SUBSCRIBE:► To view this week's episode on Youtube: https://youtu.be/1YdpFRgNZQU► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinstoThis content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The Coinbase trading and research teams cover the countdown to the ETH Merge and launch of the ETH POW token.SUBSCRIBE:► To view this week's episode on Youtube: https://youtu.be/FV\_KrE9E-z4► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinstoThis content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

The September effect, trouble in Europe, the Bellatrix Upgrade, and what to watch in DeFi as we head into the merge. The Coinbase trading and research teams cover it all and more.SUBSCRIBE:► To view this week's episode on Youtube: https://youtu.be/FV\_KrE9E-z4► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinstoThis content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week the Institutional team discuss life post Jackson Hole, ETH options positioning & NFT liquidations.At Coinbase, our mission is to create an open financial system for the world.SUBSCRIBE:► To view this week's episode on Youtube: https://youtu.be/FV\_KrE9E-z4► To learn more about our research visit our research and insights hub: https://www.coinbase.com/institutional/research-insights► Follow us on Twitter: https://twitter.com/coinbaseinstoThis content is being provided to you for informational purposes only. Nothing discussed in this video is intended to be investment advice. This content, and any information contained therein, does not constitute a recommendation by Coinbase to buy, sell or hold any security, financial product or instrument referenced in the content. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.