Markets Outlook

With bitcoin and gold reversing losses, CoinDesk's Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's Stories:Bitcoin, Gold Recover After Jerome Powell Speech Shakes Markets Bitcoin and gold are reversing losses seen on Thursday after the Federal Reserve's announcement of a more relaxed approach to tackling inflation.Binance's Bitcoin 'Bid-Ask Spreads' Tighten as Cryptocurrency Markets Mature The narrowing gap between bitcoin buy and sell orders on big exchanges like Binance shows an increasing depth to cryptocurrency markets.   Chainalysis Report Shows Healthy Crypto Usage in Venezuela The Venezuelan government's push to create a cryptocurrency-centric economy appears to be working, but perhaps not in the way officials had hoped.Bitmain, Ebang Among 21 Bitcoin Mining Farms Stripped of Energy Perks in Inner MongoliaAffected mining centers in the area may see a notable increase in electricity costs.

With bitcoin slightly bearish and cyber bandits pillaging New Zealand’s NZX exchange, CoinDesk's Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories:Bitcoin's Implied Volatility Falls Sharply Ahead of Jerome Powell Speech Bitcoin’s options market foresees little price turbulence in the short-term, even as markets await a key speech from the chairman of the Federal Reserve.NYSE Can Allow Firms to Raise Funding Through Direct Listings, Says SEC The New York Stock Exchange may now allow some companies to raise capital via direct listings rather than IPOs.New Zealand Stock Exchange Hit Repeatedly by Cybercriminals Demanding Bitcoin NZX has halted trading for the third day in a row as a result of cybercriminals attempting to extort cryptocurrency.Commentary: Fed Chair Jerome Powell Details Inflation Target ChangesThe Fed confirmed if inflation consistently falls below its 2% target - as it has for most of the last decade - it will target inflation above 2%. Here's our live commentary.

With bitcoin’s silver lining and Ribbit’s $350 million “Blank Check,” CoinDesk's Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories: Bitcoin Drop Squeezes Out Weak Derivatives Positions – And That May Be a Good ThingBitcoin’s latest price drop may have a silver lining.Crypto and Fintech VC Ribbit Capital Seeks $350M in 'Blank Check' IPO While it's unclear how much Ribbit Leap will focus on crypto or blockchain acquisitions, it comes at a time of renewed exuberance in the sector.FTX Exchange's $150M Deal for Mobile-First Blockfolio Is a Retail Trading Play The deal is a strategic play for FTX, whose clientele consists largely of quants and professional traders, to attract more retail customers.Brazilian Lawmaker Proposes Crypto Regulations for a Country Devoid of AnyBrazil's crypto scene has been unbanked, unregulated and awash in legal uncertain for its entire history.

With bitcoin still under $12K and Aave pulling ahead of MakerDAO, CoinDesk's Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories: Powell's Coming Inflation Speech May Weigh Over Dollar and Boost Bitcoin: Analysts The Federal Reserve chief is expected to bolster expectations of inflation in a keynote Thursday. That may be bad for the dollar but good for bitcoin.Aave Becomes Second DeFi Project to Unseat MakerDAO for Most TVL DeFi credit market Aave has pulled ahead of stablecoin mint MakerDAO for the title of most collateral staked on Ethereum, according to DeFiPulse. Huawei Builds Blockchain Platform to Help Beijing Government Manage People's Data Huawei’s cloud services arm is helping the Beijing government set up a blockchain platform that would better track and manage people’s data.Bank for International Settlements: https://www.bis.org/publ/work880.htm?utm_source=newsletters&utm_medium=firstmover&utm_campaign=&clid=00Q1I00000N4DdAUAV A recent paper by the Bank for International Settlements looks at the economic reasoning behind central bank digital currencies and how they may be shaped for future implementation via mainstream adoption.

With Turkey getting bullish on bitcoin and BitMex blocking users in part of Canada, CoinDesk's Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories:Leveraged Funds Take Record Bearish Positions in Bitcoin Futures The funds likely boosted short positions to take advantage of attractive "cash and carry" yields. First Mover: Anything-Goes Token Market Repudiates Rich-Only Venture Capital ClubVenture capital is no longer just for the rich, as crypto markets let traders bet on early-stage digital-asset startups, risks included. Istanbul or 'Coinstantinople'? Inside Turkey's Bitcoin Bull Market The relationship between economic crisis and crypto exchange activity in Turkey appears to have changed, with bitcoin coming out on the winning end. Crypto Derivatives Exchange BitMEX to Block Ontario TradersThe veteran cryptocurrency derivatives exchange is to block users in Ontario, apparently at the behest of the local securities regulator.

With bitcoin still pulling back and LND learning to wumbo, CoinDesk's Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories: Bitcoin Options Open Interest Nears All Time High – But Rise in Puts Could Presage DropWhile soaring open interest can be a sign of a continuing trend, the offloading of calls suggests bitcoin could correct further.Ready to Wumbo: LND Enables More, Larger Bitcoin Transactions on Lightning LND now supports Lightning Network wumbo channels. These channels have the capacity to hold more funds, and users can send larger bitcoin transactions.VC-Backed Crypto Exchange Mexo Launches in Latin America Mexo, a cryptocurrency exchange designed for the Latin American user, launched on Thursday.Thailand Is Prepping to Move Judicial System Records to a BlockchainThe Office of the Court of Justice is developing its blockchain as part of Thailand's court digitization campaign.

With bitcoin taking a back seat to the DeFi boom and data platforms aiming for the moon, CoinDesk's Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories:Bitcoin Risks Deeper Drop if Dollar ReboundsThe bitcoin price could pull back even further should the dollar stage a full-blown recovery on the back of the latest Fed meeting. OMG Price Doubles as DeFi and Record Ethereum Fees Create ‘Perfect Storm’OMG has more than doubled in the past seven days as record Ethereum fees lead investors to look more closely at layer-2 solutions.  Russia's New Blockchain Elections Remain CentralizedThere will be two blockchain voting pilots for Russia's off-year election next month.TechCrunch:Moon lander startup ispace raises $28 million and launches a new lunar data platform

With bitcoin pulling back from its bull run and the emergence of YAM-inspired “Spaghetti Money,” CoinDesk's Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories:Bitcoin's Bull Run is Slowing – Pullback Now ExpectedSome analysts are now predicting further price corrections after bitcoin fell back below the $12,000 milestone on Tuesday.Money Legos Turn 'Exuberant' as Chainlink Stripped of 'DeFi'This year's growth in the cryptocurrency subsector DeFi has been so remarkable that some analysts are now calling the phenomenon "exuberant." UK Regulator Grants License to Digital Security Exchange ArchaxThe U.K. watchdog has granted several licenses to Archax that will allow it to become a "one-stop shop" for the digital security space. Binance-Owned WazirX Announces DeFi Project With MaticThe exchange has opted for Matic instead of Ethereum’s network, which is currently dominating the DeFi space because of "high gas costs."$200m Staked in YAM-Inspired DeFi Protocol in Under 12 Hours The DeFi craze continues as investors stake $200 million in a new yield farming protocol that's not even 12 hours old yet.

With bitcoin's exchange reserves at a 20-month low and its hashrate getting soaked in Sichuan, CoinDesk's Markets Daily is back for your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories: Bitcoin Holding Sentiment Strongest in Nearly Two YearsThe amount of bitcoin held on crypto exchanges is down to a 21-month low, a sign investors are feeling bullish.Bitcoin Passes $12K, Dollar Worries Grow, OMG Jumps, Portnoy's Orchid #PumpBitcoin rises, Warren Buffett buys a gold miner, Wall Street dollars worry grow, OMG's price jumps, Orchid gets #pump tweet, Ethereum Classic's possible delisting.Heavy Rainstorms in China Are Hurting Bitcoin's Hashrate Major Chinese bitcoin mining pools are each seeing daily hashrate drops of between 10% and 20% following continuous rainstorms in Sichuan.Binance Charity Pledges $20K to Beirut Explosion Relief EffortsBinance's charity arm is donating $20,000 to the victims of an explosion that rocked Lebanon's capital earlier this month.

With bitcoin’s hashrate reaching record highs and litecoin hoping to Mimblewimble its way into new users' wallets, CoinDesk's Markets Daily is back with your latest crypto news roundup!This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.Today's stories:Litecoin Gets Bullish Speculation, at Last, as Upgrade Approaches "The upcoming privacy upgrade would leave litecoin valuations around all time highs," one industry analyst said.Bitcoin Price Holds Below $12K Even as Hash Rate Hits All-Time HighBitcoin's hashrate has soared to record highs, some analysts say it might kick the price out of its rut.Crypto Long & Short: The Surprisingly Sunny Outlook for Crypto Hedge FundsBitcoin returns are beating crypto hedge funds, but other recent developments point to more favorable tailwinds for those funds in the long term.Ex-Prudential Securities CEO Calls Bitcoin a 'Safe Haven'George Ball, who claimed himself as a Bitcoin and blockchain opponent, said bitcoin or another cryptocurrency is “very attractive” both in the long term and short term.