Syz the moment

Germany-based Deutsche Boerse announced fully regulated crypto trading platform Deutsche Boerse Digital Exchange (DBDX). The spot trading platform is targeted for institutional clients said the Deutsche Boerse. The new Deutsche Boerse Digital Exchange is the latest step in its digital strategy to deliver a fully regulated and secure environment for institutional trading, settlement, and custody for this digital asset class. The German exchange group last year committed to introduce an integrated digital asset platform as part of its Horizon 2026 program. The initial trading will be request-for-quote basis and gradually moving to multilateral trading. Deutsche Boerse will offer trading venue and Crypto Finance (Deutschland) to provide digital asset clearing and settlement services. source : coingape

The BRICS nations, consisting of Brazil, Russia, India, China, and South Africa, have announced their intention to create an independent payment system based on crypto and blockchain technology. According to Kremlin aide Yury Ushakov, the primary goal of this initiative is to provide a convenient, cost-effective, and politically neutral platform for governments, businesses, and individuals within the BRICS countries. The decision to develop this innovative payment system comes as part of the BRICS nations’ broader strategy to increase their role in the international monetary and financial system.

The recent approval of bitcoin ETFs, which has enabled record crypto fund inflows, to the tune of $7.7 billion already which blows all of 2021's $5.2 billion inflows (the year when bitcoin hit its previous all time high) away, which also means that the current explosion in crypto is taking place with far less leverage. Annualize that, and you get a shocking number. Source: BofA

cryptos and gold are impossible to value but they are in some extent comparables in the role they play as an alternative to the fiat money system. Currently, Gold is 20.5% of the Fiat money in the 5 largest economies. After recent rally, the total cryptocurrencies market cap is just 3.4%. If you think teh gap between gold and cryptos should continue to narrow, there might be further upside. NB: this is NOT an investemnt recommendation

These were the magazine covers as Crypto was bottoming in November and December of 2022. Keep in mind, this asset class was down towards just $730 Billion TOTAL in the fall of 2022. Source: Allcharts, J-C Parets

Source: Coingecko

After the crypto-trading platform swung to a quarterly profit and reported revenue well above Wall Street expectations, saying it benefited from “risk on” activity in the markets. Coinbase $COIN earned $273 million, or $1.04 a share, in the fourth quarter, versus a loss of $557 million, or $2.46 a share, in the year-ago quarter. Sales rose to $954 million from $629 million a year ago. Analysts polled by FactSet expected Coinbase to report earnings of 2 cents a share on sales of $826 million. In a letter to shareholders, Coinbase executives said that they saw “a sharp increase in crypto asset volatility,” akin to early 2023, and in crypto asset prices. That was mostly thanks to around approvals for a bitcoin spot ETF and “broad expectations around improving macroeconomic conditions in 2024, which contributed broadly in the capital markets to ‘risk on’ activity,” it said. COIN Coinbase Q4 FY23: • Trading volume +6% Y/Y to $154B. • Bitcoin 31% of volume (-4pp Y/Y). • Revenue+52% Y/Y to $954M ($135M beat). • EPS $1.04 ($1.03 beat). Q1 FY24 Guidance: • Subscription & Services $410-480M ($373M expected). Source: App Economy Insigths, Market Watch

Unlike the banking giants who employ thousands of people, the number of employees at Tether is (officially) 125.