Larry Tabb

Global Head of Financial Sector Research, @BBGIntelligence. Recipient '22 STA DMP Award. Opinions are my own & not of @Bloomberg

[Larry Tabb @ltabb]

@fintechfrank Frank there are so many issues. 1) token/trad mkts not connected, 2) px at token markets can be disparate, 3) pxs created by AMMs, 4) corp stock options incentives can be altered by fat finger /errant px 5) few if any inst inv will be trading tokens. Best to sit on sidelines.

[Larry Tabb @ltabb]

@nextpredictio OMG - you look very distinguished in this pic. I need your AI :-)

[Larry Tabb @ltabb]

I agree w/Chris that with the recent ANPR the CFTC is talking the helm of bringing crypto under its wing. This is good for investors, as a regulated market is better than an unregulated one. But the CFTC is stretching pretty far and I am sure courts will be called to weigh in

[Chris Giancarlo @giancarloMKTS]

The @CFTC has opened a federal front door for America's crypto exchanges. In @thehill, I explain why it rests on authority Congress already gave the agency, and why it's good policy for investors, innovation and the U.S. economy. https://t.co/77hlW62elL

[The Wall Street Journal @WSJ]

Carmen Li hopes to make AI computing power an asset class like oil or gas that investors can bet on—or against. https://t.co/1XywHDr3oP

[Nathan Dean @nathandeanDC]

One of the things I'm extremely proud of is how the @BBGIntelligence, Bloomberg @economics and @BloombergNEF policy analysts come together and work an issue from multiple angles, all the time advising our clients on exactly what they need to know for their portfolios and investments.

So on October 28 at 10:00 a.m. Eastern, please join us for a live briefing on the US midterms and how the outcome will reset the policy and regulatory outlook.

Registration link: https://t.co/e9BMo16ZTE

[Silicon Data @silicondata]

The entire term structure of @nvidia H100 GPU rental rates continues to rise.

[Jennifer Ablan @jennablan]

fyi

[Don Wilson @drwconvexity]

Really enjoyed being back on Odd Lots with @TheStalwart and @tracyalloway. Would indeed have been fun to debate perps with Terry Duffy. We clearly have different views…

Following my prediction on last year's recording that in 10 years compute will be bigger than oil, this year I revealed the name we use at DRW for the profit margin between tokens and GPUs: the crunch spread.

Oil into fuel: crack spread. Soybeans into meal and oil: crush spread. Nat gas into power: spark spread. As with those markets, futures on both the GPU hours and tokens eventually will let you trade—and hedge—the crunch.

Listen to Odd Lots on Spotify: https://t.co/3Ajt0UsAtE

Listen to Odd Lots on YouTube: https://t.co/G3R6UQM6HD

Listen to Odd Lots on Apple Podcasts: https://t.co/Z97ied8rzq

[Joe Weisenthal @TheStalwart]

I asked @CMEGroup CEO Terry Duffy if, in his view, there are literally any laws anymore when it comes to financial regulation.

[Larry Tabb @ltabb]

@JoeSaluzzi Idk. How many times are you asked to buy a stock for a client that you wouldn’t touch with a 10ft pole?

That said Adina has been pretty active in promoting digital.

[Larry Tabb @ltabb]

I am happy to build that stuff for you, but hell no will we let our stock trade on those things :-)

[Joe Saluzzi @JoeSaluzzi]

“We have determined that our shares should not trade on a venue that does not display best prices in real time, report to the consolidated tape, or provide the transparency investors expect,” said a Nasdaq spokesperson https://t.co/hLZy5NQ5Lk

[Larry Tabb @ltabb]

@andrawesbahou I think this one got screwed up

But this is what we have

https://t.co/r3b4I3heAk

[Larry Tabb @ltabb]

Here is the replay of our third panel on Compute Futures

This panel starts at 2:06:30

https://t.co/DhA2Es5EEn

[Larry Tabb @ltabb]

Our final panel on compute futures. @silicondata Intercontinental Exchange @CMEGroup and @BrettHarrison at https://t.co/PO550sdmsV and moderated by our own Paul Gulberg @pgulberg .

[W. Brennan Carley @Fintech_Brennan]

My thoughts on AI in Trading and how it will impact the technology platforms for trading:

https://t.co/8DMSk6tdg2

[Larry Tabb @ltabb]

Boy if this doesn't sound like a top...?

At Robinhood’s Mecca for Risk-Loving Traders, Everyone Has a Tale of Getting Rich

https://t.co/L7VbXBLRg2

[Larry Tabb @ltabb]

@TripleDTrader Nice job!

[Larry Tabb @ltabb]

I am not sure what this says about us as a nation, but I am not sure its good

Firing squad execution to be livestreamed, Pentagon says

https://t.co/QOULfnaIg0

[Larry Tabb @ltabb]

Looks like @TXStockExchange got $DDS close right today :-)

Either that or @Bloomberg did :-)

https://t.co/h0OvqunYpK

[Larry Tabb @ltabb]

Looks like @Kalshi is launching a Perpetual Future on an S&P 500 look alike contract - the Kalshi 500.

Things getting 🔥

https://t.co/8hqZ6lrNki

@BandmanJeff

[Larry Tabb @ltabb]

Chatted w/@TXStockExchange folks. Seems on Monday, market makers weren't looking at them for the close, and yesterday data vendors weren't looking at them for the closing print. They just put an interesting auction webpage. Lets see what happens this eve

https://t.co/h0OvqunYpK

[Larry Tabb @ltabb]

Another problem with closing Dillards ($DDS) today

That 50pt drop at the close and 30pt rebound right after the close isn't what most traders would call normal

[Brett Harrison @BrettHarrison]

Introducing Liquid Inference by Architect, a new LLM model router where inference providers compete dynamically to offer lowest-cost tokens. Providers onboard in minutes, not weeks. Buyers have full price visibility and receive 20% of referred fees in free inference. More info:

Liquid Inference can be used in place of any OpenAI or Anthropic API-compatible backend. Behind it, our team has leveraged our experience trading and building financial exchanges to create real-time two-sided price discovery for inference. Benefits for buyers and providers:

INFERENCE BUYERS

• Fully compatible with agentic coding tools: Claude Code, Codex, OpenCode, Cursor, Pi, Cline, and many more. Full multi-modal support.
• Hundreds of open- and closed-weight models. Create routing rule presets or use our Auto routing algorithms.
• Providers compete dynamically on price for every prompt, offering the lowest marginal cost.
• Sign up for free with email, first 500 users get $20 of free inference.
• Receive 20% of referred fees as free inference, 10% for second-level referrals.

INFERENCE PROVIDERS

• Onboard through the Liquid Inference app. We verify new providers in minutes, not weeks.
• All prompts are OpenAI API standard. Simple REST/Websocket API to register models and quotes.
• Update quotes dynamically based on your own costs. Monetize GPU capacity only when you want.
• Standardize payouts via Stripe, full itemized records of all jobs performed.