Coinbase Institutional Market Call

In this engaging podcast episode, we dive deep into the latest developments across the traditional and cryptocurrency markets, starting with Georg's comprehensive market update. David then offers a crucial macroeconomic perspective, shedding light on the implications of Powell's recent remarks which have tempered expectations for an imminent interest rate cut in March, pivoting our sights towards a potential May adjustment. This segment explores the enduring disinflationary trends, with a particular focus on China's economic landscape and the troubled commercial real estate sector and how that could affect crypto prices.Greg takes the helm to analyze current flows and the intricacies of perpetual futures positioning, providing listeners with an insight into the market' sentiment. Sid brings to the fore the remarkable growth of Farcaster and the buzz around the Jupiter airdrop, highlighting the innovative developments within the Solana community.Beyond these updates, the episode covers a spectrum of critical topics:The latest on FTX, including their plans to return 100% of funds to customers based on current value and the decision against restarting the exchange.Insights into the Tether Foundation's profitability amidst the market's ebbs and flows.A discussion on mining from a supply perspective, including considerations around the halvening and the introduction of ordinals.A closer look at Farcaster Frames, which grants every user an onchain account on Optimism, showcasing the platform's meteoric rise in user engagement and the innovative applications developed by the community.Updates from the Solana ecosystem, including airdrops, new apps and the Chapter 2 phone.Don’t forget to like and subscribe for more thought-provoking discussions and stay at the forefront of digital asset trends and innovations.

On Tuesday 30th January, the Coinbase Institutional Team hosted Jules Urbach the CEO of Otoy, the company behind Render and Trevor Harries-Jones, the COO. Located at our Hudson Yards office, David Duong (Head of Institutional Research) and Ben Rodriguez (Senior Protocol Specialist) conducted an insightful fireside discussing the following:Rendering of 3D content vs decentralized GPUHow they overcome some of the key bottlenecks such as data quality, model complexity, and hardware limitationsThe recent announcement of the Render Network FoundationRender’s rationale behind migrating to the Solana ecosystemCrypto’s cold start problem & sustainable DePIN development

In this enlightening episode, we’re joined by Ben Dean, Director of Digital Assets at WisdomTree, to unravel the complexities and future of cryptocurrency ETFs. Ben shares his journey into the crypto space deep dives into the current state of spot Bitcoin ETFs, 2 weeks post-launch, amidst Bitcoin’s weakness.We discuss the potential for an Ethereum ETF and the nuanced demand potentially awaiting unlock for Ethereum exposure. The conversation also covers forthcoming ETH ETF deadlines, suggesting a significant probability increase for approvals, with a keen eye on May as a critical timeline. The conversation navigates to concerns around security classifications, staking complications, and the intricacies of ETF redemption processes. Moreover, Ben provides insights into the existence and success of ETH ETFs in Europe and Brazil versus the potential for a U.S. ETF, considering the unique regulatory and market dynamics. He also contemplates the future of Ethereum, including scaling, privacy enhancements, and the evolution of compliant tokenisation. Wrapping up, we touch on the prospects of SOL futures and an ETF, broadening the discussion to encompass the wider landscape of digital asset infrastructure.In addition to these topics, the episode also includes our regular segments on market flows, macroeconomic analysis and Web3, including the upcoming Jupiter airdrop, Telegram’s recent conference in London and Farcaster’s recent explosive user growth.Don’t forget to like and subscribe for more thought-provoking discussions and stay at the forefront of digital asset trends and innovations.

In this captivating episode, we’re excited to host Arianna Simpson, General Partner at a16z and a seasoned veteran in the crypto space with over 11 years of experience. Arianna shares her profound insights into the direction of consumer Web3 heading into 2024, offering a unique perspective gained from her extensive involvement in the industry. We delve into the innovative developments observed during the crypto winter, uncovering what has been brewing behind the scenes. Arianna discusses the burgeoning potential of Web3 gaming and creator economies, highlighting how these domains are set to revolutionize user interaction and engagement. The conversation shifts to the key themes a16z is focusing on within the Web3 space, including infrastructure trends that are paving the way for new use cases. Arianna talks about the importance of scalable Layer 2 solutions like Base and Optimism (OP), and how they're enabling more consumer-friendly applications. We also explore the dynamics of Web3 communities, the diversity among developers in this space, and overarching consumer trends. Arianna then provides an overview of the a16z State of Crypto index, covering vital indicators like active addresses, developer activity, and NFT creator trends. For those want to test in real life, the discussion on Blackbird, a Web3 powered restaurant loyalty network was especially relevant for those in NYC for Restaurant Week. Additionally, we touch upon the growing traction of Web3 social platforms, with a focus on Farcaster on Optimism. In addition to these topics, the episode also includes our regular segments on market flows and macroeconomic analysis. Don't forget to like and subscribe for more thought-provoking discussions and stay at the forefront of digital asset trends and innovations. Links mentioned a16z State of Crypto Index - https://a16zcrypto.com/stateofcrypto/ 

In this special edition of our podcast with James Seyffart, an ETF research analyst at Bloomberg intelligence, we dive into the launch of spot bitcoin ETFs in the US - a watershed moment for the expansion of the cryptoeconomy. We compare and contrast these products with BITO and the seminal gold ETF, hypothesize on their future differentiation, and consider key aspects such as proof of reserves and fee waivers.We also cover liquidity and AUM perspectives and the other attributes that may help ETFs succeed, alongside our thoughts on market share distribution and the strategic considerations for issuers post-launch. The conversation then looks at where additional demand may come from -- such as the integration of these ETFs into diverse portfolios,  other ETFs and model portfolio allocations.Additionally, we unravel the complexities of wirehouses, explaining their function and impact on custodial relationships. As we explore product developments atop ETFs, we touch upon potential restrictions, such as the prohibition of options, and the often slow adoption rate of some platform houses.This episode is a must-listen for anyone seeking to understand the new bitcoin ETFs. Tune in for a comprehensive understanding of what the next year holds and remember to subscribe for more in-depth analysis and expert takes on the crypto market's future.

In this podcast, they discuss the 2024 crypto market outlook, including the potential trajectories of Solana, Ethereum, and Bitcoin. They also explore the impact of ETFs in the crypto space and highlight the importance of DEPIN and Data Availability. The team shares their personal excitement for 2024, revealing what they are most looking forward to. They discuss the expectations and concerns surrounding the launch of a Bitcoin ETF and analyze recent moves in the crypto market. They also discuss the concept of halving in Bitcoin and its impact on issuance rewards.

In this week’s episode, we welcome James Check, the lead analyst at Glassnode, as our special guest. James delves into the on-chain dynamics of the recent Bitcoin rally and its subsequent price drop last Sunday, offering a detailed analysis of the market’s movements. He sheds light on how the behavior of long-term holders and the average acquisition price of Bitcoin influence its trading patterns.Further exploring the lifecycle of bull markets, James provides an expert perspective on the different stages and what might lie ahead for crypto enthusiasts. A significant focus is placed on the upcoming Bitcoin halving in 2024, discussing potential outcomes and expectations within the community. James also examines the expanding world of derivatives in both onshore and offshore markets, highlighting their growing impact on the cryptocurrency landscape.Josh then steers us through a comprehensive market update, focusing on significant developments in the Solana ecosystem, including Orca and Helium, along with Helium’s new mobile plan and the notable rise in AVAX.David concludes the episode with a macroeconomic overview and teases some key findings from our recent survey conducted in collaboration with Interactive Investor, offering a glimpse into the sentiments and trends shaping the future of digital assets.Remember to subscribe for more in-depth discussions and expert insights in the dynamic world of crypto.

In this week's episode of our podcast, we're joined by special guest Anjan Vinod, Vice President at Parafi, one of the oldest crypto funds, who brings a wealth of expertise in the evolving landscape of digital assets. Anjan dives into the intricate trade-offs between modular and monolithic blockchain structures, discussing how these choices impact the ecosystem. He also sheds light on the burgeoning growth in Real World Assets within the crypto space, along with insights into the DEPIN..Anjan further explores the evolving landscape of stablecoins, dissecting their product-market fit and potential future trajectories. The discussion also veers into the realm of prediction markets, examining their past, current status and future prospects.Georg then takes us through a comprehensive market update. He analyzes the current dynamics of BTC and ETH dominance versus altcoins, highlighting significant capital rotations into altcoins with STX as a prime example. Georg also discusses Celestia’s performance, attributing its success to the rising popularity of modular chains.Finally, David provides an overview of the upcoming macroeconomic data and its potential impact on the crypto market, pinpointing specific crypto-related elements that warrant close attention.Don’t forget to subscribe for more insights and in-depth analysis in the fast-paced world of digital assets.Host:Ben Floyd, Head of Execution ServicesGuests:Anjan Vinod, Vice President at ParafiGeorg Toropov, Senior CES Sales TraderDavid Duong, Head of Institutional Research

In this episode of our podcast, Josh kicks off with the latest news shaking the crypto world. We dissect the Binance news, delve into the groundbreaking entry of USDC in Japan, and analyze recent trends in crypto fund inflows. David takes the reins to explore macroeconomic factors, focusing on consumer spending and what the outlook for 2024 could mean for the digital asset space. This segment offers a crucial understanding of how broader economic trends might influence crypto markets. Greg, in his segment, presents an intriguing hypothesis from a recent JPM note on potential flows in GBTC post any ETF conversion. He also breaks down the futures basis in Bitcoin, offering strategies on how to navigate these trades, and highlights an uptick in flows observed on the desk. Lastly, we dive into the realm of Web3 with Sid. The launch of Blast, a new Layer 2 platform created by the founder of Blur, has garnered attention with a staggering $600 million in TVL in its first week. We also discuss the possible ramifications of a potential hard fork in Cosmos, providing insights into what this could mean for the ecosystem. Don’t forget to like, subscribe, and connect with the Coinbase Institutional team for further insights and updates. Host: Ben Floyd, Head of Execution Services Panelists: Josh Pak, CES Sales Trader David Duong, Head of Institutional Research Greg Sutton, Senior CES Sales Trader Sid Shekhar, Blockchain Research Manager

In this special Thanksgiving episode, we invite some of our previous guests to talk through two themes:1. What they’re excited about across markets and web32. What they’re thankful for!Thank you to the following contributors for their incredible insights!Tania Reif, Founder & CEO - Senda Digital AssetsSeth Ginns, Managing Partner - CoinfundDavid Duong, Head of Research - CoinbaseJennifer Murphy, Founder & CEO - Runa Digital AssetsCosmo Jiang, Portfolio Manager - PanteraVance Spencer, Co-Founder - Framework VenturesSid Shekhar, Blockchain Research Manager - CoinbaseJai Prasad, Co-Founder - DefinitiveViktor Bunin, Group Protocol Specialist - CoinbaseAnthony Bassili, Head of Tokenization - CoinbaseThanks for listening in and Happy Thanksgiving!