Derivatives
Analysis
Stablecoin regulation converts issuers into psuedo-banks while adding a barrier to entry for smaller players
Stablecoin regulation is giving issuers legal clarity, but compliance costs may leave the market to the biggest firms.
Adoption
Turkish lira stablecoins show why Europe’s regulated euro tokens may struggle
Zodia’s lira volumes show stablecoin demand follows payment friction, leaving Europe’s euro tokens with a user problem.
Analysis
Why a resilient jobs market keeps turning into a Bitcoin sell signal
With layoffs near historic lows and unemployment holding at 4.3%, the odds of a Fed rate cut keep shrinking, and Bitcoin keeps paying the price.
Analysis
Bitcoin shrugged off Japan’s rate hike – The bigger liquidity test came from Washington
Japanese interest rates reach Bitcoin through the yen carry trade, so the Bank of Japan's hike to 1% tested crypto's exposure to global leverage.
Analysis
Texas questions whether AI data centers should pay for the grid they strain
Texas spent years subsidizing the AI data center boom, but Governor Greg Abbott now wants the industry to pay for the grid strain it creates.
Analysis
AI is pushing crypto media into a fight over trusted market data
Crypto set out to strip trusted middlemen out of money, but it may end up installing a new set of them over its information, more powerful than any newsroom that came before.
Politics
Crypto PACs are helping Senators win US primaries faster than the Senate can move the law they want
Crypto super PACs are winning nearly every primary they enter, but the market structure law all that money is meant to buy is still stuck on the Senate calendar with no vote in sight.
Analysis
How the SEC’s five-year plan could accelerate tokenized capital markets
Markets tend to respond to certainty faster than they respond to deregulation, which is why a non-binding SEC roadmap could move institutional capital long before any tokenization rule takes effect.
Analysis
From reinsurance to structured credit: The financial products you didn’t know Bitcoin was powering
ETFs were just the start. Bitcoin now backs insurance reserves, rated bonds, and billion-dollar loans. We look inside the buildout that few are watching.
Analysis
Millions of EU crypto users face exchange cutoff as MiCA deadline hits in days
Around three in four of the crypto companies registered across Europe are expected to lose their license this summer in the most aggressive thinning the industry has probably ever seen.
Quantum
Banks are buying Bitcoin vaults, but a quantum problem may be waiting inside
The biggest near-term quantum threat to Bitcoin is pretty unglamorous: whether the institutions holding it can upgrade their plumbing without chaos.
Macro
Wholesale inflation is back in focus. Here’s what PPI means for your money and Bitcoin
Bitcoin’s inflation-hedge narrative faces a near-term test as hot PPI data pushes rate-cut hopes lower and risk assets come under pressure.
