ilqdty daily2 min readRead the latest
goldman moved its $100B treasury fund onto lynq, a settlement network built for crypto firms
the safest collateral in finance now settles where crypto trades.
| Markets | Level | 24h | week |
|---|---|---|---|
| $BTC | 84,009 | +0.7% | -2.6% |
| $ETH | 2712.7 | +0.9% | -1.6% |
| $SOL | 119.3 | +0.4% | +0.6% |
| BTC.D | 58.8% | ||
| F&G | 73 greed |
01Crypto4 stories
- the SEC said token buybacks and staking receipt tokens are not automatically securities@Cointelegraph
- tom lee's bitmine crossed 6 million ETH, about 4.9% of all ether in existenceDecrypt
- the CFTC cleared coinbase clearing, so coinbase now runs 3 derivatives licenses in-houseThe Block
- zano rolled back a month of its own chain history to erase tokens an exploiter minted@Cointelegraph
02Macro3 stories
- the US ten-year yield hit 5.23%, the highest since 2007CNBC
- brent jumped 2.9% to $107.34 after trump rejected iran's hormuz proposalCNBC
- australia's central bank hiked to 4.6%, its highest in nearly 15 yearsABC News
03Today3 stories
- the fed's barr and waller speak, the first officials out since the long end broke to new highs
- openai holds its devday keynote, the next headline in the AI spending story that equities are priced on
- thursday 12:01am ET is the US government funding deadline. binary, funded or lapsed
04Trends3 stories
- solana traders paid pumpfun $2.23M in fees yesterday and the ten most trending coins there did $100M of volume in 24h. $FROINK ran +25,616% at a $0.8M market cap and $HOOKED +32,655% at $1.2M, while the biggest one on the board, $STONK at $192.8M, went nowhere at -1%
- pumpswap on solana out-earned pons on robinhood chain over the last 7 days, $30.3M against $12.5M. over 30 days pons is still the bigger business, $138.1M against $105.2M@DefiLlama
- goplus flagged a second rug factory on robinhood chain, one operation routing $9.49M through a string of memecoinsCryptoSlate
05My view
goldman does not move a fund that size onto new plumbing for a press release. it moves it because clients want cash and treasuries settling at the speed their crypto already does. put that next to the SEC answer on buybacks and the coinbase license, and the boring institutional layer of this market got three real wins in one week while prices did nothing.
the risk is the price of money, and it is still rising. australia hiked again, beijing is defending a stock market at one-year lows, and the long end of the US curve is at levels most traders have never worked through. the number that settles the next leg is tomorrow's august PCE, the inflation gauge the fed actually acts on, with core running above 3% all year. a hot print keeps october live and everything with no cash flow pays for it.
the tell i'd flip on is stablecoin supply, $311.3B and flat on the week. if that starts shrinking while yields sit up here, the new money is going home and none of the plumbing news matters for a while. it is not shrinking yet, and wall street spent this week wiring itself into this thing anyway. that part usually shows up later than anyone wants it to.
PCE tomorrow morning, funding deadline thursday midnight. big week to be awake for. lock in.