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 Research
• David Han, Research Analyst
• Georg Toropov, CES Salestrader
• Zaid Khan, Senior Prime Financing Sales Trader

Links:

• Q4 Guide to Crypto Markets
• Coinbase 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 Salestrader

Links: Coinbase Research

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 Floyd
Panelists:
David Duong, Head of Institutional Research
Georg Toropov, Senior CES Trader
David Han, Research Analyst

Links: Coinbase Research

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 Capital

Panelists:
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

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 Hospital

Host:

• David Duong, CFA - Head of Institutional Research

Panelists:

• Georg Toropov, Senior CES Trader
• David 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 upgrade

Please 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.