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Post-Plunge Reflections
FEEDDays like today (Monday) are bittersweet. It’s great fun watching one’s account value roar higher, but at the same time, you know it’s going to be all over way too soon, and things will get dull and listless again. It takes a lot of patience to finally wallow around in a day like this. NowRead More 0 Comments [Read More...]
A “Digital Dollar” Doesn’t Fix This
Federal Reserve Chair Jerome Powell thinks a central bank digital currency would obsolete bitcoin. He’s way off.The below is an excerpt from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.During a testimony yesterday afternoon in front of the U.S. Financial Services Committee, Federal Reserve Chairman Jerome Powell commented on the impending central bank digital currency (CBDC) to be launched by the Fed, and how in his mind it would compete with other “cryptocurrencies” and “stablecoins.””You wouldn’t need stablecoins, you wouldn’t need cryptocurrencies, if you had a digital U.S. currency,” he said.The fact of the … [Read More...]
Brazilian Hedge Fund Still Down 56%, Despite 16 Months of Crypto Gains
BLP Asset Management’s cryptocurrency trading has been held back by lackluster returns accumulated during 2018’s market rout. [Read More...]
Enterprise Blockchain Is at a Private-Public Crossroads
The big players in enterprise blockchain face a decision: stay with underwhelming consortia projects, or invest in public networks like Ethereum. [Read More...]
The Midline Mattered
FEEDMany months ago, I started tracking the chart for ($SPX/FR:DGS10) which is the S&P 500 cash index divided by the 10-year yield. The result was a fascinating and very clean channel. I noted with concern that this ratio has plunged to a perfect touch-point with the channel’s midline around March 18th, which suggested stronger stockRead More 0 Comments [Read More...]
Robinhood revealed it made $30 million from clients trading dogecoin in the 1st quarter – and that amount likely skyrocketed ahead of the company’s…
Drew Angerer/Getty Images Trading in dogecoin helped generate $30 million in revenue for Robinhood in the first quarter.Robinhood is likely to see revenue derived from dogecoin explode in the second quarter.Trading volumes in dogecoin soared 258% in the second quarter, according to CoinMarketCap.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Robinhood's S-1 IPO filing released last week revealed that the company generated nearly $30 million in revenue from trading in dogecoin in the first quarter of 2021.That revenue figure is likely to explode in the second quarter, as dogecoin spiked more than 1,375% amid a surge in popularity in part driven by tweets and a SNL appearance from Tesla CEO Elon Musk.Robinhood's significant revenue derived from… [Read More...]