Liquidity Monk

Sharing what actually matters in crypto

[Liquidity Monk @LiqMonk]

South Korea's FIU just blocked domestic access to 27 unregistered crypto exchange sites, including KuCoin and MEXC. That extends last year's app bans to the web, and 44 operators have already been referred to investigators. Next: more blocks if they switch domains.

[Liquidity Monk @LiqMonk]

Metaplanet filed ¥52B (~$329M) zero-coupon convertible bonds due 2031. Roughly ¥23.6B will pay down bitcoin-backed loans and up to ¥28.3B fund share buybacks - the 44,000 BTC stack stays put. Closing is set for Oct 29.

[Liquidity Monk @LiqMonk]

Andrew Bailey's FSB just told the G20 that stablecoin crisis plans have never faced real stress. The weak spot is multi-country tokens like USDC - redemptions can pile on one issuer while reserves sit somewhere else. Next: G20 finance chiefs meet Oct 15.

[Liquidity Monk @LiqMonk]

Strategy added 250 BTC last week at about $86,194 each, lifting its stack to 848,250. Same period it spent $192M buying back STRC preferred - more on buybacks than bitcoin. Corporate demand is still there, just smaller. Next ATM update will show the mix.

[Liquidity Monk @LiqMonk]

Coldcard's X account posted a fake 'urgent security update' today, pushing users to a phishing site to move their coins. Coldcard says it found no login or session record behind it and asked X to dig in. Next: what X finds - until then, ignore any wallet 'migration' post.

[Liquidity Monk @LiqMonk]

Citi expects Bessent to cut 20- and 30-year bond auctions by $3B each at the Nov 4 refunding, maybe scrap the 20-year, and fill the gap with T-bills. Nothing announced yet. Less long-end supply could cool yields near multi-year highs. Next: the dealer survey Friday.

[Liquidity Monk @LiqMonk]

China just ordered a national blockchain network in a new top-level policy from the Party and State Council. It builds on BSN, a state-run chain that bans tokens - so this is pro-blockchain, not pro-crypto. Next: which ministries and state firms build it, and how fast.

[Liquidity Monk @LiqMonk]

Ledger is probing wallet drains hitting people who bought its devices from CryptoBilis, a reseller in Malaysia, Indonesia and the Philippines. Trackers put losses above $86M, not confirmed yet. Ledger says recent buyers shouldn't set them up. Next: Ledger names a cause.

[Liquidity Monk @LiqMonk]

Treasury just hired Judy Shelton - Trump's blocked Fed pick and a gold standard fan - as a Bessent counselor. Her job is currency policy, focused on China's finances. That puts a hard-money voice near dollar and yuan calls. Next: whether Treasury gets tougher on China's currency.

[Liquidity Monk @LiqMonk]

Thailand just cleared spot Bitcoin and Ether ETFs to trade on its stock exchange. Funds must hold at least 80% in one coin with local custodians, no margin buying. That opens a regulated route for Thai savers and funds. Next: rules kick in Oct 16, then first ETF approvals.

[Liquidity Monk @LiqMonk]

Greece just put out its first crypto tax plan - a flat 10% on gains, with the first €500 a year tax-free. Coin-to-coin swaps aren't taxed, but staking and lending income is. That's well below Italy or France. Next: comments close Oct 22, then a vote in early November.

[Liquidity Monk @LiqMonk]

Fed governor Waller says more rate hikes are likely coming to get inflation back to 2%, but they don't have to be back to back. Markets price an 85% chance of a hike by December. That keeps pressure on crypto and risk assets. Next: Fed meets Oct 27-28, a pause is expected.

[Liquidity Monk @LiqMonk]

SAP customers can now pay suppliers in USDC and EURC right inside their ERP. Circle's stablecoins just plugged into the new SAP Pay, so no separate crypto app and settlement in minutes, not days. Next up is whether big finance teams actually switch it on.

[Liquidity Monk @LiqMonk]

Russia's central bank just approved its first crypto exchanges and custodians. Sberbank and VTB are on the list, and Sberbank plans BTC, ETH and USDT trading from Dec 1. Retail buyers stay capped at 300k rubles a year. Next: VTB's own exchange in December.

[Liquidity Monk @LiqMonk]

Japan just set its 10-year bond coupon at 3.1%, the highest in about 30 years, and the auction still drew strong demand. With US 10-year yields near 5.3%, a 24-year high, the long end is repricing everywhere. Next: the US 10-year auction and Fed minutes on Wednesday.

[Liquidity Monk @LiqMonk]

CFTC chair Mike Selig laid out the agency's first crypto market rules after CLARITY stalled - a new 'crypto asset market' license for exchanges offering retail leverage or margin. Plain spot trading stays with the states. Next: 60 days of public comment.

[Liquidity Monk @LiqMonk]

Bloomberg Terminal now streams Hyperliquid perp quotes 24/7 - type WSL HYPE for BTC, S&P, Brent, gold and FX next to cash benchmarks. Data only, no execution. Onchain derivatives just got an institutional price screen.

[Liquidity Monk @LiqMonk]

NYSE owner ICE and OKX filed to run a 24/7 onchain venue for tokenized US stocks - 63 names like Nvidia, Apple and Coinbase, traded against stablecoins. Companies get 30 days to object, so no launch before early November. TradFi keeps moving onchain.

[Liquidity Monk @LiqMonk]

Nice!

[CryptoHolic @TrueCryptoHolic]

Only 2 trades this week.
Both BTC shorts.
Both won.

Sep 29 scalp: +$1,996
Oct 2 day trade: +$3,247

Week: about +$5,240
No extra clicks.

Full recap:

https://t.co/9XwBvkZAwJ

[Liquidity Monk @LiqMonk]

BlackRock IBIT took in $196M on Oct 1 - the week's biggest spot BTC ETF day - while Fidelity FBTC had one green session and about $168M outflows. Same 0.25% fee, same bitcoin. Size and liquidity are driving the split; next week tests if it sticks.