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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 Guests
John D’Agostino, Senior Adviser
Rachel Ziv, Senior Financing TraderPanelists
David Duong, Head of Institutional Research
David Han, Research Analyst -
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 Research
David Han, Research Analyst
Greg Sutton, CES Sales TraderDon’t forget to like and subscribe.Links:
Stand with CryptoReflections on the election through a crypto lensCoinbase Research -
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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 Research
David Han, Research Analyst
Joshua Pak, CES Sales TraderLinks:
Stand with CryptoQ4 Guide to Crypto MarketsCoinbase Research -
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 Research
David Han, Research Analyst
Greg Sutton, Senior CES Sales TraderLinks:
Q4 Guide to Crypto Markets
Coinbase Research -
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 Services
Panelists:
David Duong, Head of Institutional ResearchDavid Han, Research AnalystGeorg Toropov, CES SalestraderZaid Khan, Senior Prime Financing Sales TraderLinks:
Q4 Guide to Crypto MarketsCoinbase Research -
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 Services
Panelists:
David Duong, Head of Institutional Research
David Han, Research Analyst
Joshua Pak, CES SalestraderLinks: Coinbase Research
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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.
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.
Topics Covered: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
Panelists:
David Duong, Head of Institutional Research
Georg Toropov, Senior CES Trader
David Han, Research AnalystLinks: Coinbase Research
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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 Services
Guest: Ralph Achacoso, CIO of Factor6 CapitalPanelists:
David Duong, Head of Institutional Research
Greg Sutton, Senior CES Trader
David Han, Research Analyst
Links: Coinbase Research -
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 updates
Interview 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 Minutes
44:02 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, Superstate
Host:
Ben Floyd, Head of Execution Services
Panelists:
David Duong, CFA - Head of Institutional Research
Greg Sutton, Senior CES Trader
David Han, Research Analyst
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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 -
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 moves
8:25 Market technicals
10:25 Potential Fed response
15:23 Endogenous crypto catalysts
17:50 Financing update, leverage, and margin calls
24:18 Crypto flows
27:00 ETFs
30:40 Onchain updates
36:40 Jupiter cutting token supply
37:54 Ethereum Pectra upgradePlease like and subscribe to our podcast and visit our research portal for more content.
Host: David Duong, CFA - Head of Research
Panel:
Georg Toropov - Senior CES Trader
Sarah Williamson - Head of Prime Financing Trading
David Han - Research Analyst -
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.
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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.
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.
(2:08) ETH and BTC ETF Updates:(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 -
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 ServicesPanelists:
David Duong, Head of Institutional Research Joshua Pak, CES Trader David Han, Research Analyst -
Decoding Crypto Dynamics: Market Catalysts and Strategic Insights
Tune 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 Research
Sarah Williamson, Head of Prime Financing Trading
Georg Toropov, Senior CES Trader -
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 distributions
1:55 Perp funding rates & futures markets
6:45 German government sales
9:28 ETH ETF update
13:00 BTC ETF flows
14:30 Election insights
16:00 Token unlocks
20:40 TON update and Telegram integration
24:40 Solana technical updates
28:45 Seasonal BTC trendsHost: David Duong, Head of Institutional Research
Panelists:
Gregory Sutton, Senior CES Trader
David 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.
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The State of Crypto: Expert Insights from the Coinbase & Financial Times Summit
Dive 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.
Hosts
Ben Floyd - Head of Execution Services
David Duong - Head of Institutional Research -
Global Conference Insights: From Milken to Consensus
Join 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 hack
41:15 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 Services
Special Guest: Lauren Abendschein, Global Head of Institutional Sales
Panelists:
David Duong, Head of Institutional Research
David Han, Research Analyst
Georg Toropov, Senior CES Trader -
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 Research
David Han, Research Analyst
Georg Toropov, Senior CES Trader
Rachel Ziv, Senior Financing Sales TraderLinks:
Coinbase Institutional Research websiteIf you want to learn more about any of Coinbase's products, please email [email protected]
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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 [email protected]
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