Coinbase Institutional Market Call

Joshua Pak, a CES Sales Trader at Coinbase, shares insights on Bitcoin reaching new heights, driven by institutional investments from companies like MicroStrategy. He discusses the increasing confidence in BTC, highlighted by BlackRock's recommendation for a 2% allocation. The conversation shifts to onchain trends, including the rise of stablecoins and AI-driven memes, and features the momentum of Pudgy Penguins' token launch. Lastly, Pak offers a glimpse into Coinbase's outlook for 2025, anticipating regulatory impacts and market dynamics.

 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

Cindy Leow, co-founder of Drift Protocol, shares insights on their innovative Solana-based decentralized exchange that offers high-leverage trading options. She delves into the implications of using 50x leverage and discusses risk management strategies. Meanwhile, David Han analyzes the effects of recent political events in South Korea on crypto exchanges and the shift in investor sentiment. The conversation also touches on the rising interest in altcoins as retail traders return to the market, showcasing the dynamic nature of today's crypto landscape.

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

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

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

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 

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

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

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