Category: crypto

The U.S. Treasury’s refill of the Treasury General Account (TGA) drained liquidity from the financial system, causing markets to stall temporarily. The Federal Reserve’s rate cut and trillions of dollars waiting on the sidelines signal a potential reversal of the liquidity drain, leading to a possible rally in stocks and crypto.

Japan’s financial markets are sounding an alarm as the Bank of Japan begins selling off its massive holdings of exchange-traded funds. Japan’s debt has ballooned to 235% of its GDP, with interest rates rising. The US faces a similar debt crisis, with its national debt surpassing $37 trillion. Both countries may struggle to pay off…

Morgan Stanley’s Chief Investment Officer, Mike Wilson, suggests a 60/20/20 portfolio mix, adding gold as a hedge against inflation and market volatility. Gold’s resilience surpasses that of Treasuries, making it a key asset for investors. This shift challenges traditional 60/40 portfolios and signals a move away from bonds towards alternative assets like gold and Bitcoin.

Author Adam Livingston warns that AI is rapidly replacing human economic value, leading to job uncertainty and underemployment. He advises stacking Bitcoin as a way to secure economic sovereignty in the face of automation. As AI revolutionizes the labor market, Bitcoin is seen as a safeguard against economic instability and loss of autonomy.

Congress has set a 90-day deadline for the Treasury to outline a Strategic Bitcoin Reserve and a custody plan for federal digital assets. The bill directs Treasury to report on the practicability of the reserve and stockpile within 90 days of enactment, detailing custody and cybersecurity measures. ETFs and issuance impact reserve decisions.

FTX creditors will receive $1.6 billion on Sept. 30, bringing some customers to 95% cumulative recovery rates. Creditors must complete verification steps through the FTX Customer Portal, including KYC verification and selecting a payment method. Different creditor classes receive varying payment amounts under the reorganization plan. Previous distributions totaled $5 billion.

MetaMask is planning to integrate perpetual futures trading through Hyperliquid, as revealed in leaked code updates. The new feature will allow users to trade leveraged positions without leaving their wallet. Hyperliquid has quickly grown in the derivatives market, recording high trading volumes and revenue. The integration may be announced at Token2049 in Singapore.

BitGo plans to go public with an initial public offering, revealing over $3 billion in revenue for 2024. The company’s financial data shows significant growth in revenue and platform expansion, with a focus on institutional crypto custody solutions. BitGo aims to expand globally as regulatory frameworks evolve, targeting both European and US markets.

Grayscale’s Digital Large Cap Fund ETF (GDLC) had a successful debut on Sept. 19, with nearly $22 million in trading volume and 381,298 shares changing hands on NYSE Arca. The fund provides exposure to five major digital assets and manages over $931 million in assets. The SEC’s new generic listing standards are expected to streamline…

Binance founder Changpeng Zhao has backed Aster, a decentralized derivatives platform challenging Hyperliquid’s dominance. Aster became the largest holder of BSC-USDT, holding $131 million in USDT. Zhao praised the project’s Token Generation Event and its growth, leading to ASTER’s market capitalization climbing to $1.3 billion. Aster has quickly positioned itself among the largest decentralized derivatives…