Research
As a founder of a fintech company that straddles the Digital Asset and Traditional Asset world, I am starting to understand the risks now inherent in both fully. As many in the digital asset world need help to access the traditional banking system, we are finding it difficult to get the right level of coverage…
Is TradFi an Existential Risk to Crypto?
OCTOBER 28, 2023
The Banks are Building in Crypto
SEPTEMBER 14, 2023
The cryptocurrency market has recovered after the implosion of 2022 but currently sits in a low-vol doldrums. While prices have recovered somewhat, liquidity remains a challenge holding back the market. The lending market remains broken as borrowers and lenders struggle with the tradeoff between…
The FDIC Insurance Fund: A Safety Net in Jeopardy
SEPTEMBER 7, 2023
The stability of the FDIC insurance fund, a keystone in the U.S. banking system, is under unprecedented strain. Current conditions in the financial landscape suggest that even FDIC-insured funds might be at risk.
The Real Risks of the Risk-Free Rate
AUGUST 4, 2023
On August 1st, Fitch downgraded the US Government’s sovereign debt rating by one notch weighing on stocks and government bond yields. Reading Fitch’s explanation causes a specific concern for products offering the risk-free rate.
Is it safe to come outside? (March 15 2023)
JULY 19, 2023
Sunday night, the US government took a decisive step to stop the impending bank run triggered by Silicon Valley Bank (SVB) and Silvergate Bank troubles. There were several contributing factors to their demise…
Chairman Powell, You Said You Wouldn’t Blink! (Feb 8 2023)
JULY 19, 2023
All in all, the economy looks to be slowing, but a recession is not a certainty. In this scenario, the Fed will continue to hike and hold rates high for some time. If this plan has been laid out for months, why did Chairman Powell blink?
Macro Markets, Another False Start (Feb 2023)
JULY 19, 2023
The term “False Start” is a penalty in American football that occurs when a player moves before the start of a play. A penalty of this type happens when players let themselves get distracted, which leads to being out of sync with the rest of the team…
The Blackrock Age of Crypto
JULY 10, 2023
Blackrock has stormed on the crypto scene by applying for a spot-backed BTC ETF, which has provided a narrative for the crypto market hopelessly struggling after last year’s rout. The implications are much more significant than the prior narrative of “the institutions are coming.” This age of crypto will redefine…
How a Blackrock BTC ETF will change the crypto market.
JUNE 30, 2023
The recent announcement of Blackrock’s Bitcoin ETF filing has created excitement amongst the financial community. Crypto players with a more TradFi background are embracing this as a transformational moment, while the degens have their doubts.
Can Crypto Improve Economic Freedom in Latin America?
JUNE 27, 2023
The adoption of Cryptocurrencies has the potential to benefit citizens of many Latin American nations. This region has historically faced challenges in terms of financial inclusion, access to credit, and high transaction fees for remittances.
The US Federal Reserve has been hiking rates aggressively over the past year as inflation has spiked worldwide. Other global central banks are falling in line by raising their risk-free rate. With real-world rates rising and DeFi rates moving aggressively in the opposite direction, new offerings have emerged…
Is the Risk-Free Rate Really Risk-Free?
JUNE 27, 2023
As we approach the halfway mark for 2023, the developments of the past year have defied expectations. Crypto came out of the gate hot as TradFi markets, including tech, lagged the initial move upwards…
Looking up from the bottom — The next phase of the crypto revolution
JUNE 27, 2023
When a project launches a token, one of the first things they do is choose a market maker. The thought is that selecting the right market maker will allow for deep liquidity in their token and increase prices. For their part, the market makers will promise to get the project token listed on several exchanges and ensure tight spreads across all of them.
Breaking the Chains of the Market Makers
FEBRUARY 23, 2024
Two weeks ago, the FOMC released its last policy decision of 2023, which was extremely dovish by all accounts. During the press conference, Chairman Powell reaffirmed the rally in interest rates that started in early November. The rates rally picked up steam and pushed the Dow Jones to its highest close ever…
The Death of Tokenized Treasury Bills
DECEMBER 23, 2023
Bitcoin hit 44k this past week, rising over 160% on the year and 22% in the last month. Bitcoin’s rise even dwarfed the monstrous 46% gain on the Nasdaq. This last leg higher has created a surge in expectations that the bear market is over. 2023, if it ended today, would also be one of the best years for macro assets led by the Nasdaq…
Crypto Prices are Surging but is the Market Healthy?
DECEMBER 13, 2023
Ethena, the standout protocol of this cycle, has recently surpassed $3 billion in total value locked (TVL). This milestone positions the protocol as the 12th largest overall, and if Ethena were a blockchain, it would rank as the 5th largest.
How does Ethena pay such high yields and is it safe?
June 10, 2024
In the ever-evolving gambling landscape, traditional casinos and race tracks will face an unexpected challenger: meme coin trading. This burgeoning trend represents a seismic shift in how younger generations engage with risk and reward, catering to their desire for community-driven, intellectually stimulating, and accessible forms of betting.
The Rise of Meme Coin Trading - Gambling’s Evolution in the Digital Age
April 14, 2024
Bitcoin and the broader cryptocurrency market have been experiencing significant price pressures, causing concern among investors. Unlike previous market corrections driven by adverse headlines or macroeconomic factors, the current downturn appears to be driven primarily by non-price-sensitive sellers.
The Current Pressure on Bitcoin Prices: Non-Market Dynamics at Play
July 7, 2024
A core narrative of the current cycle is stablecoins and RWAs. Dozens of stablecoins of all different flavors have launched over the past year with varying degrees of success. PYUSD launched late in 2023 and has gained real traction with a DeFi focus. The PayPal payments narrative surrounding its stablecoin is quite strong, making many optimistic about its future.
Launching a Stablecoin — Boom or Bust
August 10, 2024
