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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

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 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

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.

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

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 

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

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.

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

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