Crypto Options Unplugged

In this week's episode Imran and David discuss the latest tariff announcements and what impact they are having on crypto markets. David observes how BTC price action is becoming more immune to tariff threats than it was a week ago and how the broader drop in bond yields and the dollar may be providing support. Imran gives his usual vol update and also catches up with two seasoned prop traders in the crypto vol space.

In this week’s episode, Imran and David host a panel discussion with Brett Reeves (BitGo), Adam Groom (Copper), and Sophie Bowler (Zodia Custody) to explore why custody is becoming a pivotal factor in crypto’s evolution. They discuss the rise of institutional-grade custody solutions, the challenges of retail access, the specificities of the derivatives markets, the challenges retail access and shifting regulations. Imran and David also dive into the latest macro and crypto developments, including major liquidations over the weekend and Bitcoin’s ongoing bull case.

In this week's episode Imran and David catch up with Alex Ryvkin, CEO and Founder of Rho Labs. Alex is building crypto's first rates derivatives platform and discusses some of the products that they are offering more sophisticated clients. David gives his take on the latest developments in crypto after Trump's executive orders looked to disappoint markets on the lack of strategic Bitcoin reserve. Imran discusses some of the opportunities he's seeing in crypto options such as selling ETH volatility. Deribit FZE does not accept UAE retail clients or US clients and clients from other restricted countries.

In this week's episode, Imran and David discuss the recent uptick across crypto markets as US yields backed off on softer inflation than expected last week, and a fresh wave of optimism was seen ahead of Donald Trump's Inauguration as President of the US. So far price action has been choppy around the event with no clear breakout and much of the weekend volatility was centered around the MEME coins launched by the First Family. David still sees the macro setup as very bullish and is unconcerned about reports of a BoJ rate hike later this week sparking more carry trade unwinds. Imran catches up with the guys from Greeks Live to discuss the tools they are creating to help retail options traders better execute and manage risk.

In this week's episode, Imran and David discuss the recent strong macro data that has led to higher US yields and a bout of de-risking across asset markets. Crypto markets broke below key supports but have since recovered on optimism around the incoming Trump administration and what they announce next week. David remains resoundingly bullish and is looking through the latest bond market weakness and expecting a reversal in yields. Imran catches up with Greg Magadini, Director of Derivatives at Amberdata to see what he's seeing in vol trends and how the crypto market may evolve this year.

To kick off the new year, David caught up with Deribit CEO Luuk Strijers and Founder and CEO of Hashnote Leo Mizuhara. They had a lively discussion around the need for high-quality yield-earning collateral and explained why Deribit has partnered with Hashnote to offer institutional clients the best liquidity and attract more Tradfi-type accounts into the space. This is another example of the infrastructure buildout that is happening across crypto and why we remain to bullish long term. David also gives his usual macro rundown covering the liquidity outlook and Imran tells us what he's seeing and doing in crypto options this week.

In this week's festive episode, Imran and David reflect on the incredible year we've had in crypto markets. They discuss the huge changes in regulation and pro-crypto stance from the new US administration that is driving enormous inflows into the space. Imran had the pleasure of catching up with Andrew Scott, CCO at QCP to gain some perspective from one of the biggest market makers in the crypto vol space. We also have another giveaway this week as it's our final podcast of 2024 so be sure to leave a comment with the hashtag #deribitgiveaway. Thanks for watching the show and we'll see you in the new year! Disclaimer: DRB Panama Inc. does not accept UAE clients

This week Imran and David host Christian Gressel, Head of Sales and Business Development at Abex. Christian built his career in Tradfi on the electronic and algorithmic trading side at JP Morgan and UBS and made the transition into crypto a couple of years ago. They discuss the type of solutions that Abex is offering to institutional clients in terms of smarter execution and more sophisticated hedging tools. David gives his update on the macro and Imran highlights the latest options flows that have been driving price action in vol space. 00:00 – Introduction 00:43 – Today's Special Guest: Christian Gressel, Head of BD at Abex 1:23 – Brief Crypto Market Overview 4:04 – Supportive Macro Trends and Bullish Financial Data? 6:38 – Christian's Introduction to Crypto and Background 9:14 – How Abex Serves Its Clients and Delivers Unique Value 15:12 – Funding Rates Reaching 15% vs Market Fragmentation 22:06 – Algo's on Using Altcoins As A Hedge or Vice Versa 24:02 – Thoughts on Volatility in The Crypto Space 27:14 – What is Next for Crypto & the Options Market? 32:10 – Bullish Consolidation & Price Action? 34:48 – Expectations on CPI and Outcomes 37:18 – Closing Thoughts

This week Imran is joined by stand-in co-host Jamie Knowles, Chief Commerical Officer at DS3 Crypto. Jamie gives insight into some of the discussions that he's been having with corporates about holding Bitcoin on their treasury and jokes that he might be one of the few people who is even more bullish than our very own David Brickell. Imran also caught up with hedge fund founder Seattle Smith of Baus Capital. They discuss Seattle's trading style how he tries to capture alpha from the crypto markets trading Delta 1 and what his outlook is for markets into 2025. The key takeaway from both guests is that institutional adoption is ramping up fast and this bull market may still have a long way to run.

This week Imran and David get a chance to catch up one-on-one and Imran gives a breakdown of the Microstrategy trade that has been fuelling recent Bitcoin strength as Micheal Saylor announced his recent purchase of more than $5Bn last week. David's macro outlook remains constructive after the appointment of Treasury Secretary Bessent which has led to a pullback in the dollar and US bond yields. The rejection of 100k in BTC has led to a swift repricing in front-end skew which suggests the correction could still have legs according to Imran.