ilqdty daily2 min readRead the latest
dtcc went live with $30 trillion of tokenized securities and 20 banks behind it
Source@CoinDesk
wall street is moving its own assets on-chain, and now it's fighting over who else gets to.
| Markets | Level | 24h | week |
|---|---|---|---|
| $BTC | 80,236 | -1.3% | -1.4% |
| $ETH | 2323.3 | -1.5% | -2.7% |
| $SOL | 100.4 | -2.0% | -3.2% |
| BTC.D | 59.5% | ||
| F&G | 51 neutral |
01Crypto3 stories
- google cloud previewed bitcoin custody built for banks, with full release in early 2027@Cointelegraph
- jpmorgan and coca-cola joined 33 companies objecting to tokenized stocks from okx and ice@decryptmedia
- utah filed criminal charges against kalshi, its ceo and its coo, calling the prediction market illegal gambling@TheBlock__
02Macro3 stories
- the fed held at 3.75% to 4%, and two governors dissented in favor of a hike@federalreserve
- brent settled at $115.32, up 1.3%, with the iran war keeping supply tight@TheNationalNews
- alphabet spent $51.4B on capital spending in the third quarter and the stock dropped 11% after hours@FortuneMagazine
03Today2 stories
- 8:30 ET: the first estimate of US third-quarter growth plus september PCE, the fed's preferred inflation gauge. forecasts sit near 3.2% growth and 3.1% core
- after the close: amazon reports, the next read on AI spending after alphabet fell and microsoft rose
04Trends2 stories
- on solana, pumpfun took $1.68M in fees over the last day and the ten trending coins traded $44M. $HOUSECOIN (+15330%) ran to a $0.5M cap on $5.0M of volume and $GTA6 (+135%) sits at $15.0M
- on bsc, predict fun, a prediction market, passed pons v2, the launchpad on robinhood chain, in fees over the last 7 days, $2.33M against $2.27M. over 30 days pons still leads, $18.7M against $8.06MDefiLlama fees
05My view
dtcc going live is the adoption headline crypto spent years asking for, and google building bank custody points the same way. the objection letter tells you the rest: the big names want tokenized stocks, as long as they run them. i can't tell yet if that grows the pie for crypto or pulls the business back to the banks.
the risk i'm tracking is rates. part of the fed already wanted a hike yesterday, the ten-year sat at 5.05% this morning, and stablecoin supply shrank 1.12% over the week, so the new money hasn't arrived yet. this morning's growth and inflation numbers are the first test.
a hot PCE that pushes the ten-year higher keeps coins stuck in this week's range or lower. a soft one gives all this adoption news a market that can finally price it. i lean constructive, because the banks building this aren't waiting on the fed.
growth, inflation and amazon, all before dinner. lock in.