ilqdty daily2 min readRead the latest
strive bought 6,182 bitcoin for $511M
SourceBitcoin Magazine
strategy bought none and spent $205M buying back its own preferred shares (Cointelegraph), and that split is the story i'm following into the fed.
| Markets | Level | 24h | week |
|---|---|---|---|
| $BTC | 79,635 | -0.6% | -4.0% |
| $ETH | 2303.2 | -0.9% | -5.9% |
| $SOL | 99.6 | -1.3% | -6.5% |
| BTC.D | 60.0% | ||
| F&G | 48 neutral |
01Crypto4 stories
- ripple got final approval from the OCC, the US bank regulator, for the national trust bank behind its $2.5B RLUSD stablecoinCoinDesk
- hyperliquid named payward, kraken's parent, the first CFTC-regulated company allowed to launch its own markets on the exchangeThe Block
- the NBA became the third league to sign a CFTC prediction market pact and picked kalshi and polymarketThe Block
- keystone's breach got worse. hackers stole the key its devices use to prove they are genuine, so it will destroy 18,835 hardware walletsCointelegraph
02Macro3 stories
- the fed is expected to hold at 3.75% to 4% wednesday, and traders price 70% odds of a december hikeYahoo Finance
- the US ten-year yield is back near 5.0%, down from 5.35% earlier this monthKitco News
- brent slipped to $114.85 as saudi, turkish and pakistani officials held talks in tehran (OilPrice.com). oil for delivery a year from now trades near $89Kitco News
03Today3 stories
- 8:30 ET, september durable goods orders, the read on what companies spend on big equipment
- 10 ET, conference board consumer confidence. september's 81.9 was the lowest since 2014, so another drop means households are pulling back
- robinhood reports, the cleanest read on how much retail is still trading crypto
04Trends3 stories
- on solana, pumpfun took $1.97M in fees over the last day and the ten trending coins traded $49M. $Nothing (+31783%) went to a $1.0M cap on $5.7M of volume, $ELON2028 (+18427%) reached $0.5M, and $STONK (-3%) sits at $103.1M
- a boycott pumpfun campaign is spreading on solana in the same week pumpfun is offering a $2.5M trading prizeProtos
- papertrade, an off-chain perps venue, took $5.39M in fees over the last 7 days, down from $28.5M the 7 days beforeDefiLlama fees
05My view
strive just showed that a public company can still raise money and turn it into bitcoin. on top of the buy, it lined up a $1B program to sell new stock as it goes (Bitcoin Magazine). my guess is that strategy's buyback is balance-sheet housekeeping and says nothing about its appetite for bitcoin. low confidence on that one.
the risk i'm tracking is cash leaving crypto. stablecoin supply shrank 0.73% over the week, and the smaller coins took the hit, with $SUI down 12.2% in seven days. it gets settled on two dates: wednesday afternoon, when warsh explains the december language, and thursday's PCE inflation print.
if stablecoin supply keeps falling after the fed, corporate buyers are holding this market up alone and i get more careful. if it turns back up, strive's timing will look early in the good way, and that's where i lean.
the fed decides tomorrow at 2pm ET. today is homework. lock in.