No proper crypto event without a Lambo 🏎️ 💸
@token2049 takeaway: Despite global risks, keep building a great team and better product!
Thank you to the team for working 16 hours a day 3 days in raw.
Keep on rolling!
@CoinDesk@krakenfx@willcanny99 Yes! More crypto native firms in traditional finance will finally disrupt the industry, offering a better product, lower rates and good UX.
@DavidLRipley@krakenfx It seems that not only do traditional financial institutions adopt crypto, but also crypto businesses are serious about expanding into FX, stocks and bonds!
🚀 FinchTrade now supports RFQ trading!
Institutional clients can request tailored quotes, get tighter spreads, & execute with confidence — all via GUI or API.
🔗 Full release: https://t.co/24kV5DSDLS
Bitcoin ETF flows flip the script: more than $800M earlier this week, ending a multi-week outflow streak. Momentum shifting? 🧐
But Bitcoin's $Price is still in its 80s, and Bitcoin futures contango has been seen below 5% 😨 (annualised, Jun 25 fut) for the first time in months.
Weekly Digest:
- Bitcoin rebounds to $82K after hitting a yearly low of $76K, fueled by encouraging CPI data.
- Spot Bitcoin ETFs struggle, marking $920M in outflows for the fifth straight week, while Ethereum ETFs saw $140M in redemptions.
- MicroStrategy rebrands to Strategy, unveiling a $42B Bitcoin accumulation plan through new capital raises.
- Derivatives market shifts, with leverage appetite dropping—CEX open interest down 47% since December.
- DEX trading surges, hitting an all-time high DEX-to-CEX volume ratio of 7.4%, led by Hyperliquid.
- Solana governance votes maintain its fixed 4.6% inflation rate, while network activity declines.
- Bitcoin (BTC) dropped 14%, settling at $80,600, while Ethereum (ETH) fell 20%, pushing the ETH/BTC ratio to 0.025, its lowest since December 2020.
- U.S. government clarified its Strategic Bitcoin Reserve strategy, confirming no new purchases, only utilizing confiscated assets.
- Spot Bitcoin ETFs saw $738 million in outflows, marking the fourth consecutive week of negative flows.
- Bybit hack update: $280M of the stolen $1.5B laundered, with 77% of funds still traceable.
- Ethereum lending protocols saw $457M in liquidations, with Aave and Compound bearing 90% of the impact.
- Coinbase revives security token ambitions, planning potential tokenization of its COIN stock on its Base Layer 2 network.
Exciting news! FinchTrade is partnering with @Intergiro to bridge fiat & crypto for Web 3.0 businesses. Together, we’re delivering instant #onramp & #offramp solutions, embedded banking, and real-time #Liquidity . 🚀
Read more about our partnership 👉 [https://t.co/bvYqe7VgyZ]
We are not shy we are just busy building! and in August we broke all records.. reaching the highest trading volume in our history! 🚀
This achievement is a testament to the trust our clients place in us and the dedication of our team to continuously improve our services 📈