Coinbase Markets Podcast

We unpack our optimistic 1H26 crypto market outlook anchored on global liquidity support and rate-cut expectations, though energy prices and geopolitics represent potential tail risks. This may set the stage for momentum-led crypto performance and disciplined positioning. The discussion also covers the rise of tokenization—from tokenized equities to equity perps and higher collateral efficiency—and stablecoins moving beyond trading into payments and payrolls.  Finally, the episode explores the social and market flywheel around prediction markets, the evolving privacy narrative, and a pragmatic take on the fundamentals vs. technicals debate using recent DeFi examples.

Speakers:
David Duong...

In this year-end episode, our Coinbase Research team wraps up 2025 by grading their crypto market predictions from the previous year and discussing key themes for 2026. The hosts score their prior year outlook on macro trends, tokenization, and the resurgence of DeFi/DEX volumes. Find out which calls earned high marks and where projections were “overly optimistic.” They then look ahead and share their optimism for a recovery in the first half, supported by the ongoing rate cutting cycle; the rise of prediction markets; the continued explosion in crypto derivatives; the endgame for application-specific chains; and the path for stab...

Crypto racked up some wins this week with Vanguard and Bank of America opening the door for their clients to trade the asset class, though many still wonder why BTC isn’t trading substantively higher given all the good news. Our Head of Research, David Duong, remains constructive due to favorable macro conditions but acknowledges that it’s hard to identify the marginal buyer at the moment. That said, he still thinks DATs are a meaningful source of demand. Meanwhile, the Fed decision is coming and a rate cut seems to be a lock. But what’s the consensus sentim...

In this episode, Coinbase Research dissects the post-Thanksgiving crypto landscape, marked by low liquidity and high volatility. We debate a “trend variant” approach to dollar cost averaging (DCA), explore the implications of the Fed ending quantitative tightening, and the market implications of a highly anticipated December Fed rate cut—stressing that the commentary’s tone will matter more than most meetings. The sell off from concerns over a Bank of Japan hike (leading to an unwind of JPY carry trades) seems to be over for now. We also examine the unsettling trend of AI-driven white-collar layoffs and its effect on the ‘...

Crypto markets have gone through a broad repricing as doubts about AI ROI, the unwind of the momentum trade, and renewed uncertainty around the December FOMC meeting collide. We unpack why this macro mix matters more than usual: a prolonged government shutdown has jeopardized October 2025 releases, adding to uncertainty about what comes next. That said, we think the signal from small business earnings still points to cuts. But the longer-time-frame trend reduces the room for speculation, making it hard to pick strong altcoin names. Should investors buy/hold/sell here? Is this the capitulation we were waiting for, or...

This episode unpacks a fragile week in crypto markets, discussing why reactive positioning can beat buying dips in downtrends, and what November’s liquidity signals could mean for a potential year‑end turn. We map the landscape of softening demand—from corporate treasuries to ETF outflows—alongside key technical zones that now define the range, and what renewed options hedging is signaling about downside risk and rebound potential.  We also talk about how shifting FOMC odds are feeding risk sentiment, and why the much‑debated AI trade—between massive capex and slower monetization—matters for crypto markets and sector rotation.

Starting today, all Coinbase One US subscribers will have early access to Coinbase Research. If you’re a CB1 subscriber, check your inbox now. 

In this episode, we cover some of the topics from our latest Monthly Outlook. We also wade into the enterprise L1 debate following the announcement that long-time Ethereum Foundation researcher Dankrad Feist is joining Tempo — a new L1 focused on payments and stablecoins. We also walk through the latest Charting Crypto report where we unpack new investor survey signals, dig into our Global M2 Money Supply Index, and discuss the role of digital asset...

In this episode, we dig into whether there’s more downside ahead or if the worst is now behind us following the leverage flush on October 10. We discuss how elevated altcoin open interest set up cascading liquidations and why the reset cleans up positioning but doesn’t guarantee direction. Flows remain mixed with limited BTC dip‑buying, a concentrated ETH bid, and some ETF outflows—so we prefer reactive over anticipatory positioning until breadth improves. Finally, a growing privacy theme centers on Zcash, with momentum holding even through the drawdown. Into next week, a 25bps Fed cut is the base cas...

The phrase “Black Friday” now carries a very different connotation for crypto market participants following Friday’s flash crash that saw $19B in leveraged positions wiped out. Ostensibly, the catalyst for the move was the announcement of 100% tariffs and new export controls on China (subsequently walked back), but the unprecedented scale of the move suggests many moving parts to the story. We break down the main vectors contributing to the sell off, including the market’s massive liquidity drain, the collateral valuation mechanics of certain crypto-trading platforms, and the role that auto-deleveraging mechanisms played. We also discuss the lessons being le...

Bitcoin pushed past $125,000 this week as US spot ETFs saw massive inflows, and corporate treasuries added to their reserves. With the US government shutdown, what data should we be looking at for markets? 

Meanwhile, SWIFT’s recent blockchain announcement suggests traditional finance is rapidly adapting to crypto realities, while Stripe’s revolutionary “Open Issuance” platform democratizes stablecoin creation with backing from BlackRock and Fidelity. 

In other topics, are you sick of hearing about gold? Too bad because we talk about it. On the regulatory side, the CFTC launched its Tokenized Collateral and Stablecoins Initiative as regulators...

This episode breaks down the key turning points in the current macro environment, exploring why risk assets are struggling despite recent Fed dovishness and what’s driving the recent pause in DeFi total value locked (TVL) growth, even as markets search for new catalysts. The conversation moves into real-world adoption, examining fresh stablecoin and asset-tokenization initiatives on Avalanche, and considers the broader implications for digital asset treasury (DAT) markets—including the merger between Strive and Semler Scientific. We offer insights from our latest institutional research, touching on the impending US government shutdown, the evolving regulatory landscape and major onchain tren...

This week, the team analyzes the liquidation-driven downturn in BTC, ETH, and altcoins, alongside the broader macroeconomic outlook for Q4. Plus, Colin provides an in-depth analysis of ETH fundamentals, DAT activity, and developments on Base.

Speakers:
- Joshua Pak, Senior CES Sales Trader
- Colin Basco, Institutional Research

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

David and Colin answer three pressing questions from institutional investors: is the DAT cycle over? Do Fed cuts represent a local top? Does seasonality (e.g. Uptober) really matter in crypto? They also discuss what's happening with Nakamoto Holdings, how much the Fed could cut before the end of the year, and the most relevant market news. You don't want to miss this one.

Speakers:

David Duong, CFA - Global Head of Investment Research

Colin Basco - Research Associate 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for i...

Nasdaq's Crypto Push and a Labor Market Shocker

Description: This week, we're analyzing a market that's showing a clear divergence. Bitcoin is seeing strong inflows of over $620 million, while Ethereum is experiencing significant outflows of $880 million. Price action reflects this, with Bitcoin holding a tight range, Ethereum trading flat, and Solana outperforming with a 9% gain. We'll look at what healthy perp funding rates tell us about market sentiment.

The dominant theme is the shifting macro landscape. We received a major reality check on the U.S. labor market with large downward revisions to annual payroll...

This week, we sit down with Luca Netz, the CEO of Pudgy Penguins, to discuss the project and its vision. Additionally, the team shares insights on market expectations for September, a month historically known for seasonal challenges. We also explore the macroeconomic factors influencing prices.

Speakers:
Joshua Pak, Senior CES Sales Trader - Moderator
David Duong, Global Head of Institutional Research
Gregg Wysocki, Director, U.S. Hedge Fund Sales
Colin Basco, Institutional Research
Luca Netz, CEO of Pudgy Penguins

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com...

This week we sit down with Ovie Faruq, founder of Rekt Brands, and talk through crypto's weakness ahead of Friday's Jay Powell speech.

Speakers:

Joshua Pak, Senior CES Sales Trader
David Duong, Global Head of Research
Colin Basco, Institutional Research
Ovie Faruq, Founder of Rekt Brands Inc

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Description: This week, we're digging into the market's reaction to the latest CPI data and what it means for the macro landscape as we look ahead to the Jackson Hole symposium. We'll discuss expectations for the event, the ongoing debate around potential new Federal Reserve appointments, and provide an update on the tariff situation.

The main event in crypto is Ethereum's explosive +23% move on the week, with LDO moving in concert. We'll break down the key drivers behind the rally, including a massive $1.8 billion in ETF inflows, over $2 billion in large Digital Asset Trust (DAT) purchases, and...

This week, we're analyzing the market's reaction to the recent Non-Farm Payrolls report, which hit our markets and has significantly increased rate cut expectations. We look ahead to the main event on the macro calendar: the Jackson Hole symposium, where Fed Chair Powell is scheduled to speak Friday morning on things including AI and the labor market, potentially setting the tone for the rest of the year. 

Our latest research report adds context, showing how global liquidity is expected to continue to flow into crypto through Q3 and Q4, and that long-term holders are showing strength by n...

This week we dive into BTC's resilient price action in the face of challenging flow dynamics and break down ongoing ETH demand and broader macro trends.

Speakers:
Joshua Pak, Senior CES Sales Trader
David Duong, Global Head of Research
Gregg Wysocki, Director Institutional Sales
Colin Basco, Institutional Research

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week we dive into BTC's falling dominance and ETH's banner inflows. The team also discusses ETH supply and demand fundamentals, SOL v ETH beta trades, and the Charting Crypto quarterly report.

Speakers:
Joshua Pak, Senior CES Sales Trader
David Duong, Global Head of Research
Ben Rodriguez, Senior Protocol Speciali

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week we dive into market dynamics that led to crypto’s strong price action on the week. The team walks through flows, derivative markets, and meme coin thematics. We also spend time with Merlin Egalite, co-founder @ Morpho Labs to walk through Merlin’s vision of DeFi lending, Coinbase’s crypto backed loan product, and Morpho v2.

Speakers:
Joshua Pak, Senior CES Sales Trader
David Duong, Global Head of Research
Merlin Egalite, Co-founder of Morpho Labs

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and us...

This week, we’re diving into the accelerating convergence of traditional finance and crypto, headlined by the groundbreaking news that Fannie Mae and Freddie Mac are considering accepting crypto as valid assets for mortgage applications. This, combined with Circle’s recent application for a U.S. bank charter, signals a major shift in how digital assets are integrated into the core financial system.The macro landscape is dominated by the Federal Reserve, as we analyze recent comments on stablecoins from Chair Powell and explore the crucial discussion around his potential replacements and what their policy stances could mean for cryp...

This week, we explore BTC's turbulent price movements amid a volatile geopolitical backdrop. The team dives into an analysis of price performance for crypto equity-linked assets, developments in stablecoins, and partnerships between credit card issuers and crypto-native applications. Zaid from the Prime Financing team provides insights into significant trends in the crypto lending market. Concluding the discussion, David outlines the macro expectations for the week, while the team examines the notable surge in Polymarket activity.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for...

This week, we analyze a market sending mixed signals. While ETF flows for both BTC and ETH remain positive and perp funding rates are healthy, the COIN50 Index is down 5.2% on the week. This raises the question: are global markets accurately pricing risk, especially with low volatility in traditional markets (VIX

This week, we're tracking Ethereum's continued ascent, which has now seen an incredible 14 consecutive days of ETF inflows. Bullish sentiment is reflected across the board with both ETH and BTC basis trading above 10%, while Bitcoin's market dominance holds strong at 65.45%. We'll also dive into the recent strength in DeFi tokens like UNI, AAVE, and SKY following favorable comments from former SEC Commissioner Paul Atkins, and what this signals for the sector's future.The macro landscape is packed with catalysts. We're monitoring US/China trade talks as the July 9th tariff pause deadline approaches, the progress of the "Big Beautiful...

Description:
This week, we dissect a shifting market landscape: perp funding rates remain moderate, but Ethereum's basis is notably trading above Bitcoin's, fueled by recent momentum and significant ETH ETF inflows, which starkly contrast with current BTC ETF outflows.
Among the big movers, we're seeing gains in MKR, UNI, and CRO, while the COIN50 Index has dipped 4% over the past week. We also delve into the technical picture for major assets, commenting on key support and resistance levels. Encouragingly, corporate BTC flows remain strong.
On the macro and regulatory front in the US, the "One Big...

This week, we're diving into Bitcoin's surge to new all-time highs, with funding rates climbing, open interest nearing $100 billion, and BTC dominance holding strong at 61%. We'll explore expectations and market positioning as the major BTC Vegas conference kicks off and examine the bullish signal of the 200-day moving average golden cross. We also discuss how large Bitcoin holders are strategically managing their positions through lending and options.

In markets, we compare Solana and Ethereum, including Standard Chartered's $500 SOL initiation and price target. We look at the impending arrival of SOL ETFs & ETPs and the potential for positive...

This week, we delve into the significant progress on US/China tariffs announced over the weekend, including reciprocal rate cuts effective May 14th, and discuss how crypto assets reacted during off-market hours, leading to notable moves. In the Bitcoin segment, we analyze ETF flows, question if BTC dominance has peaked, and provide an overview of the OP_RETURN proposal aiming to remove the 83-byte limit. We also touch upon the flows observed on our desk during recent market moves.

For Ethereum, we explore its recent price performance and give details on the upcoming Pectra upgrade. Market-wise, we...

This week, we’re joined by special guest Tarun Gupta, CEO and co-founder of Coinshift, to discuss stablecoin adoption globally and his long-term vision for decentralized finance.

In the market update, we highlight large inflows into BTC, CME flows up over 100% month-over-month, and a strong front-month basis at 11%. We also break down what's next for BTC and key support levels.On the macro front, we recap last week’s Non-Farm Payrolls, discuss equity market valuations, preview this week’s FOMC decision, and consider what to expect from the Milken Conference and key crypto earnings. In the news sectio...

 This week, we dive into the latest EY Digital Assets Survey and what it reveals about institutional sentiment: 85% of respondents increased their crypto allocations in 2024—and nearly the same expect to do so again in 2025. We unpack which assets are in focus, the critical role of regulation, and how institutions are beginning to engage with DeFi.
On the market side, ETF inflows remain strong, especially into IBIT, with ETH reversing its outflows from the previous week. We analyze current holder trends and potential upside scenarios. We also look at Bitcoin's increasing correlation with gold and how it's behaving aro...

 This week, we explore BTC’s continued strength—driven by ETF inflows, its digital-gold narrative and favorable option skew—while ETH sees institutional outflows. We highlight strong performances from AI-linked tokens like Render, FET, and TAO, and discuss how crypto has outpaced equities since Liberation Day.
In macro, we unpack the potential for BTC decoupling, rising political influence on monetary policy, the IMF’s global growth downgrade, and implications of a weaker U.S. dollar. We also assess the impact of upcoming key data releases like PCE and JOLTs, and what they signal for risk assets.
Our research...

This week we have Sarah Williamson (Coinbase Institutional’s Head of Financing Trading) joining us as a special guest. While optimism remains in short supply due to tariffs, we are seeing improving market structure around bitcoin and other key crypto assets. In this episode, we analyze recent derivatives performance, including sideways perp funding rates and emerging opportunities in options skew as well as the collapse in Mantra’s OM tokens. Meanwhile, the macro environment demands caution amid the current liquidity crunch, even though we see some opportunistic buying from crypto natives at the margin while onchain data has revealed some...

This week, we dive into the evolving crypto and macro landscape—starting with the latest market signals: BTC dominance climbs to 69%, perp funding turns negative, and BTC options remain cautiously bearish. We also break down technical levels to watch, institutional flow trends, and how global equity valuations are influencing crypto sentiment.On the macro front, rising US-China uncertainty continue to take center stage. We assess potential ripple effects from escalating tariffs, a weakening yuan, and the PBOC’s monetary posture.In industry news, Ripple makes a $1.2B acquisition, and Apollo backs Plume’s push into tokenized assets. Onchain, stablecoin growth...

This week, we explore Fasanara’s approach to trading—how they identify inefficiencies, their evolving strategies, and what’s next for their platform. We also break down the latest market trends, including perp funding rates, ETF flows, and COIN50 index performance.
Beyond markets, we dive into macro updates, covering Tariff Liberation Day on April 2nd, weaker JOLTs numbers, and expectations for non-farm payrolls. In  tokenization developments, we discuss Visa’s Tokenized Asset Platform, Mastercard’s blockchain-powered payment network, and the evolving stablecoin landscape.

In the onchain section, we track TVL changes across major protocols, Ethereum’s DEX dominan...

This week, the team is joined by Brock Miller, Senior Staff Software Engineer, to discuss Coinbase Verified Pools—why we launched it, how it works, and what’s next. We also break down the latest market trends, including perp funding rates, ETF flows, and the SOL futures ETFs.
Beyond markets, we dive into macro updates, covering the April 2nd tariff announcement, the Fed's QT adjustment, and key earnings to watch in April. Onchain, we look at the continued growth in stablecoins, BUIDL’s expansion to Solana, and new activity on Pumpswap and Polymarket. Finally, we highlight major Coinbase update...

This week, host Ben Floyd is joined by David Duong and Joshua Pak to break down the latest market action and key developments shaping the crypto landscape.
We start with an overview of market trends, including ETF flows, basis, funding rates, CEX vs DEX volumes, and sector winners and losers. Then, we move into macro updates, discussing the CPI, the Fed’s next steps, GDPNow forecasts, and regulatory shifts—including growing support for The BITCOIN Act.
Onchain, we highlight Solana’s five-year milestone, including some protocol highlights, and the latest in tokenized real-world assets. Finally, we wrap up wit...

This week, host Ben Floyd is joined by David Duong, David Han, and Greg Sutton to break down the latest market action and what’s on the horizon. We kick off with insights from our interview with Man AHL (Part of Man Group's Systematic Investment Business), exploring their approach to trend following and their evolving crypto strategy. From there, we dive into the macro landscape, reviewing the market movers of the past week, key support and liquidation levels, and what they signal for future price action. Onchain, we cover Ethereum’s Pectra upgrade, stablecoin supply growth, and the surprising decl...

This week, host Ben Floyd is joined by David Han and Georg Toropov to navigate a tough crypto landscape. We break down Solana’s sharp decline—down nearly 50% from its highs—Ethereum nearing a death cross, and extreme fear gripping the market amidst over $1B in ETF outflows and widespread liquidations. We also cover the Bybit hack and its ripple effects across trading activity.
On the onchain side, we dive into the drop in Solana DEX volumes, Pump.fun’s plan to launch its own AMM, and a wave of more recent mainnet launches from the likes of Berachai...

This week, we discuss bitcoin's range-bound trading and what upcoming option expiries might mean for price action. Additionally, the episode covers Solana's recent selloff, driven by concerns over memecoin launches and upcoming unlocks. FTX will begin repaying smaller creditors this week, which could have a positive impact on markets. We also review recent ETF applications and what their impact on spot trading flows may be. Lastly, David Han takes us through staking ETFs and potential changes at the CFTC.

Links:

Topics Covered:

...

This week, we discuss the dip in the crypto markets and welcome Ejaaz Ahamadeen, ex-Product Manager at Coinbase and founder of 26 Crypto Capital, who shares his insights on the AI agents sector. Ejaaz delves into the significance of crypto AI agents versus centralized services, navigating the intricacies of emerging subsectors, and addressing practical challenges like AI hallucination. Additionally, the episode covers major trading updates, including corporate investments and ETF flows, plus some regulatory news. We also look at recent stablecoin growth and offer a comprehensive view of current market dynamics and future trends. Finally, we tackle market innovations such...

This week, host Ben Floyd is joined by David Duong, David Han, and Greg Sutton to break down the latest macro and crypto market movements. We’ll dive into the impact of new tariffs on crypto, how the Fed might respond, and the key data points policymakers are watching next. We’ll also analyze weekend trading activity and BTC’s continued outperformance, alongside ETH’s relative weakness and overall funding rate trends.

David Sacks’ press conference on a potential Bitcoin strategic reserve continues discussion on the role of BTC in national reserves, and we’ll also explore the...

This week, we explore the evolving crypto landscape with regulatory updates, major market movements, and macroeconomic insights. The SEC sees changes with Mark Uyeda and Hester Peirce taking center stage, while the SAB 121 repeal opens new opportunities for banks holding crypto. The CME teases potential futures for SOL and XRP, and BlackRock files for in-kind redemptions on its spot BTC ETF (IBIT).

We analyze the market reaction to Deepseek's launch, which topped Apples's U.S. App Store and led a repricing of many AI- linked assets. Corporate crypto buying also continues as Metaplanet announces a $745M raise...

We unpack the explosive market moves as Bitcoin hits a new all-time high of $110K and Solana reaches $293 as crypto welcomes President Trump. TRUMP Coin’s debut contributed to the market frenzy, while COIN50 posted an impressive 8.74% weekly gain, signaling strong momentum as new users flood into the crypto space.

We provide a financing overview, highlighting DeFi lending growth on Solana, funding rate fluctuations, and weekend liquidations. Onchain activity breaks records with DEX volumes at all-time highs, despite some network degradation and Ethereum’s leadership reshuffle. The team also runs through Coinbase’s partnership with Morpho in the U...

This episode unpacks the latest developments in crypto markets as corporates like Intesa Sanpaolo and Genius Group join the Bitcoin buying wave, with MicroStrategy’s premium holding steady at 1.91. We also highlight Tether’s move to El Salvador and the growing traction of IBIT options, now capturing 50% of Deribit’s open interest, signaling surging institutional demand. An ETF flow update and client strategies reveal how the big players are positioning themselves for 2024.

We analyze funding rates, the Ondo unlock, and how to interpret these trends in relation to market dynamics. Recent aggressive crypto acquisitions reflect growing confidence in the...

This week, we explore Bitcoin’s increasing institutional adoption, with MicroStrategy expanding its holdings and other companies considering BTC for their balance sheets. We analyze ETF flows over the past two weeks and provide a Q1 market outlook, focusing on key drivers and emerging trends. In the macro segment, we examine pro-crypto regulatory appointments, potential legislation from a crypto-friendly Congress, and the Fed's rate outlook for H1. We also discuss the implications of economic data volatility and what Canada’s potential new leadership could mean for Bitcoin. Additionally, we highlight global moves toward Bitcoin as a strategic reserve.
Onch...

In this episode, we discuss Bitcoin’s breakout to a new all-time high and the factors driving it, including public companies like MicroStrategy, RIOT, and Semler continuing to stack BTC on their balance sheets. BlackRock’s recommendation of a 2% Bitcoin allocation further underscores growing institutional confidence in BTC as do conversations around global Bitcoin strategic reserves progressing in the U.S., Russia, and France. We also gather onchain insights into BTC active supply, with 4.1M BTC moving onchain in the last six months.

Onchain developments include the rise of stablecoin supply, AI agents driving meme token tren...

 In this episode, we break down a turbulent week in crypto markets, starting with a wave of liquidations driven by recent volatility. We explore ETF flows, contrasting ETH and BTC trends, and analyze the resilience of CME basis despite normalized funding rates.
Corporate treasury expansion takes center stage as we highlight significant Bitcoin acquisitions by MicroStrategy, MARA Holdings, and others.
On the regulatory front, David Sacks' new appointment sparks debate on crypto policy direction. Onchain developments include Google’s intriguing Willow project, the UK’s blocking of Pump’s frontend, and Pudgy Penguins' rise as a top NFT col...

Join us for an interview with Cindy Leow, co-founder of Drift, as she shares the inside scoop on their Solana-based decentralized exchange that’s making waves with its 50x leverage perpetual futures trading and BET prediction market. In markets, Greg Sutton talks about the consolidation of assets like BTC, ETH and SOL over the last week, as well as the major disruptions happening on South Korean crypto exchanges after the country’s declaration of martial law (since blocked by the national assembly). We then explore the rise of AI agents with David Han, who also discusses the massive airdrop from...

In this episode, we delve into Bitcoin's march toward $100K, analyzing market flows, technical drivers, and ETF developments, including the impact of 13F filings and the launch of ETF options. We also spotlight the strength in XRP tied to ETF applications and discuss key macro shifts, including Trump's Cabinet picks, Gary Gensler's exit from the SEC, and what it all means for crypto. David Duong covers the upcoming Fed meeting and its implications, while David Han provides an onchain update on long-term Bitcoin holders and the rise of meme tokens.

Don’t miss this episode packed with ma...

In this episode, we analyze the latest crypto market trends, highlighting BTC’s rally, standout tokens like SOL and XRP, and increased corporate adoption. Joe Flanagan, Co-Founder of Maple Finance, joins us to discuss the platform’s transition to secured lending, expansion into new borrower sectors, and the introduction of their governance token, SYRUP. We also explore the launch of IBIT options, examining how they could enhance liquidity, improve risk management, and offer strategic flexibility for investors. Don’t miss this episode packed with market updates, institutional trends, and deep dives into DeFi innovation.

Topics Covered:

In this episode, we dive into the major market movers, examining shifts in onchain BTC activity as long-term holders start to potentially position to take profits and funding rates hit extreme levels. Rachel Ziv provides the latest insights on the Coinbase financing business, including current trends in the fluctuating cost of capital. Special guest John D’Agostino, Senior Adviser to Coinbase, introduces the Coin50 Index, explaining its methodology, potential impacts, and its future role in shaping crypto portfolio strategies. David Duong delivers a macroeconomic update covering CPI, retail sales, and insights into what the Fed may do next. Onchain sp...

Trump’s victory in the 2024 US presidential election has been a significant catalyst for the crypto market in recent days. Following the election results, bitcoin reached a new all-time high exceeding $75,000, along with substantial gains in other cryptocurrencies such as ETH, SOL, and DOGE. This surge is attributed to bullish market sentiment and re-risking by traders. Moreover, the election has led to a more crypto-friendly Congress, enhancing optimism around regulatory clarity.  In this podcast, Ben Floyd, David Duong, Greg Sutton and David Han discuss some of the regulatory and policy implications of a Trump presidency. They also talk about the...

In this episode, we kick off with an exclusive interview featuring Coinbase’s Head of US Policy Kara Calvert about how the upcoming election could reshape the crypto regulatory landscape. Don’t miss her outlook on the future of crypto policy under different political scenarios.

Our expert panel also breaks down bitcoin’s latest price movements, US spot ETF inflows, and the shifting dynamics between ETH and SOL. David Duong walks us through a busy earnings season, focusing on major market movers like Apple, Google and Microsoft, while highlighting key macro drivers. David Han wraps up the episod...

In this episode, our expert panel explores the latest market trends, including CME fund flows, Bitcoin ETF inflows, and altcoin performance. We dive into Stripe’s strategic acquisition of Bridge, election positioning in crypto markets, and Fed Governor Christopher Waller’s positive comments on DeFi’s potential role alongside centralized finance. Stay tuned for insights on token governance, onchain updates, and the rise of a new memecoin sensation.

Topics Covered:

In this episode, our expert panel dives into the BTC rally (testing the critical $68k mark) and the strong inflows into US spot BTC ETFs. We also explore key developments such as the Unichain announcement (from Uniswap), the growth of Base across multiple metrics, and the Coinbase Q4 Guide to Crypto Markets report.

Topics Covered:

In this episode, our panel unpacks key updates including the anticipated FTX repayment schedule and the latest regulatory developments, while also discussing broader macroeconomic trends.

Topics Covered:

In this episode, we explore the latest movements in the crypto market, including Kamala Harris’ recent mention of digital assets and its potential impact on regulation. Our expert panel breaks down the dynamics driving ETF flows, funding rates, and key macro trends influencing the market.

Topics Covered:

In this episode, we welcome Ralph Achacoso, CIO of Factor6 Capital, to dive deep into the intersection of Bitcoin mining and AI, discuss takeaways from Token49, and explore broader market movements and trends in the digital asset space. Our panel covers everything from ETF flows and funding rates to the potential launch of IBIT options, offering an insightful and timely discussion for crypto investors.

Topics Covered:

In this episode, we explore the latest developments in the crypto space, including deep dives into ETF flows across BTC, ETH, and SOL, discussing the unique narratives surrounding each token and how these impact adoption.

Key Discussions:

ETF Flows & Drivers:

An in-depth look at the drivers behind BTC, ETH, and SOL ETF flows, and how different narratives shape market behavior and token adoption.

New Blockchain Launches:

Discover the new chains launching by year-end, the apps our team is experimenting with, and expert insights on their potential impact.

...

In this episode, we sit down with Jim Hiltner, co-founder of Superstate, to explore the cutting-edge intersection of traditional finance and decentralized finance. Jim provides insights into the founding of Superstate, the company's long-term vision, and an in-depth overview of their innovative products, including USCC, their carry product. We delve into the nuances of market behavior, such as why term futures can be positive when perpetuals are negative, and discuss who their clients are, how they navigate regulatory challenges, and the exciting opportunities they see on the horizon.

1:00 Basis and funding rate updates

Interview Highlights:<...

Melanee Hannock, the Chief Digital and Innovation Officer of ALSAC St. Jude Children’s Research Hospital, shares her background in marketing and technology and how she helped pioneer St. Jude’s acceptance of cryptocurrency donations. St. Jude first started accepting crypto as a way to tap into an emerging donor demographic and new revenue stream. Hannock discusses the key benefits as well as challenges of accepting crypto as part of their charity efforts. She also looks ahead to the growth in this sector and offers helpful guidance to other non-profits considering crypto philanthropy to support important missions, as blockchain tech...

Crypto markets are moving in sympathy with other asset classes as concerns over a global recession and rising tensions in the Middle East proliferate. While prices have recovered somewhat, the uncertainty lingers. 

Follow our Head of Research David Duong, Senior CES Trader Georg Toropov, Head of Prime Financing Trading Sarah Williamson and Research Analyst David Han as they discuss what happened in markets, the challenges ahead for the Federal Reserve, the current financing situation and what to expect for the rest of 3Q24. 

They also look at the plethora of web3 and onchain developments including th...

In this episode, we have a special guest, Jack Platts, co-founder of Hypersphere, joining us to provide deep insights into the cryptocurrency market. We delve into significant market movements, macroeconomic trends, and key insights from the newly released Q3 Guide to Crypto Markets. Our expert panel, featuring Jack Platts, Greg Sutton, David Duong, and David Han, offers comprehensive analyses and actionable strategies for investors. 

(1:05) Interview with Jack Platts:

Background and Career:

Jack shares how his experience at the Web3 Foundation prepared him to launch Hypersphere.

(6:30) Political Climate and Crypto:

D...

In this comprehensive episode, we delve into the latest developments, from the impact of ETH and BTC ETFs to significant political shifts and long-term catalysts. Our expert panel, including David, Greg, and David Han, provides in-depth analyses and insights into the forces shaping the future of digital assets.

(2:08) ETH and BTC ETF Updates:

Join us in this episode as we dissect the latest trends and shifts in the cryptocurrency market, along with key political influences and macroeconomic indicators. Our discussion spans from significant market movements to in-depth insights on recent political developments and major cryptocurrency conferences. 

Market Outlook: 

Decoding Crypto Dynamics: Market Catalysts and Strategic Insights
Tune into this episode as we dive into the short-term catalysts and strategic insights shaping the cryptocurrency landscape. Our expert panel, featuring David, Sarah, andGeorg unpacks everything from market overhangs to macroeconomic events, providing a comprehensive analysis of the current state of the crypto world.

1:45 Key Market Catalysts
- **Overhang Influences:** Explore significant overhangs affecting the market such as the news around Mt. Gox and the German government BTC holdings, including the implications of potential Mt. Gox distribution timelines.
7:45 **Deleveraging Dynamics:** 
Sarah provides an in-depth l...

This week, we discuss the recent market volatility and price drops associated with the long-awaited liquidation of Mt Gox assets, along with some bitcoin selling by the German government. Our expert panelists Greg Sutton (senior CES trader) and David Han (research analyst) also analyze spot ETH ETF expectations and the potential impact of a launch in early July, given the current low liquidity conditions. Note that while July tends to be a slower month, historically we have seen that it brings positive seasonality trends, at least for bitcoin.

The panelists also touched on the political situation with...

The State of Crypto: Expert Insights from the Coinbase & Financial Times Summit

Dive into the highlights of the "State of Crypto Summit," co-hosted by Coinbase and the Financial Times at Casa Cipriani in New York. This special episode features exclusive interviews with leading experts and thought leaders in the cryptocurrency industry who gathered to discuss the current and future landscape of digital assets. Listen as we explore their insights on regulation, institutional adoption, which sectors they're excited about, and predictions for Bitcoin's price trajectory.

Summit Highlights and Discussions:

Global Conference Insights: From Milken to Consensus

Join us for an insightful episode featuring special guest Lauren Abendschein (Global Head of Institutional Sales at Coinbase), as she provides crucial updates from prominent global conferences including Milken, Medici, and Consensus. This discussion delves into the evolving landscapes of these events, comparing dynamics of the current year with previous ones, exploring technological advancements, and analyzing the varied sentiments among different participant groups.

Conference Highlights:

2:30 Milken Conference Reflections: Lauren provides an in-depth comparison of this year’s Milken conference to 2023, highlighting the diverse perspectives among corporates, mo...

Unpacking the Future of ETFs: Insights on the ETH ETF, Political Dynamics, and Key Market Trends

 Description:
Join our expert panel including David Duong, Georg Toropov, David Han, and Rachel Ziv as they explore the complexities and strategic dimensions of the Ethereum ETF and its broader implications for the cryptocurrency market. This episode provides a deep dive into potential trading timelines, demand forecasts, and comparisons with other global ETFs, along with a thorough analysis of the critical dynamics at play in the crypto finance landscape.

**ETF Trading and Dynamics:**
2:30 - **Initiation and Expectations:** D...

Dive into this week's episode as we explore the exhilarating surge in Ethereum prices and the broader implications of the anticipated ETH ETF approvals. This discussion will not only cover market dynamics but also address critical onchain developments and legislative updates poised to reshape the cryptocurrency landscape.

ETH ETF and Market Dynamics (2:04):

Market Surge: Analyze the recent remarkable upticks, with ETH up by 20% alongside a general rally in meme coins by 10-30%.

Record Futures Interest: Discuss Ether futures reaching a record open interest of $14 billion and what this signifies for market sentiment.

Is cryptocurrency the next logical evolution of the monetary system? In Evolving Money, to explore whether we're at an inflection point, we'll look back at moments in the history of money when how we paid for things and stored value long-term changed for the better. Subscribe to Evolving Money, a new podcast from Coinbase and Bloomberg Media Studios, today. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Join us for an exclusive deep dive into the Ethena protocol with its founder, Guy Young. This episode provides an in-depth look at the mechanics, vision, and future plans of Ethena, alongside key updates from the wider cryptocurrency and blockchain space.

In-Depth Conversation with Guy Young:

Join us for an insightful conversation with Dadi Kristjansson, where we explore his bullish stance on BTC, preference for SOL over ETH, and other critical updates shaping the cryptocurrency market. This episode delves into technical analysis, regulatory landscapes, macroeconomic factors, onchain developments, and the latest in ETF trends.

Conversation with Dadi Kristjansson (01:34)

Crypto Preferences: Discover why Dadi is long on BTC, bullish SOL and a little concerned for ETH, providing an in-depth analysis of his investment strategy.

Market Update (21:46)

Technical Analysis: Unpack the key technical levels to watch in the current...

Tune into this episode for an in-depth analysis of pivotal developments reshaping the cryptocurrency landscape. We cover a range of significant topics, from the launch of ETFs in Hong Kong to the intricacies of the EigenLayer airdrop, comprehensive updates on upcoming token unlocks, and critical macroeconomic trends.

3:14 Hong Kong ETF Launch:

Initial Performance: Review day one trading volumes and overall market reception of the new Hong Kong ETFs.

Australian Market Outlook: Preview the expected listings by Van Eck Associates Corp. and BetaShares Holdings Pty on the ASX Ltd.

US ETF Trends...

Dive deep into the essential insights of the Q2 2024 Guide to Crypto Markets, a collaborative effort by Coinbase and Glassnode, in this enlightening podcast episode. James Check, Lead Analyst at Glassnode, along with our other leading industry experts, unpack the comprehensive report to bring you the latest trends, forecasts, and detailed analyses that are defining the cryptocurrency market today. 

In-Depth Report Overview:

Quarterly Analysis: Explore key insights from the report, focusing on the benefits of BTC within strategic portfolio diversification

Bitcoin Halving Examination (4:02): Delve into the anticipated effects of the Bitcoin Halving on b...

Market Dynamics Overview:

BTC Halving:

In this episode, we welcome Joshua Frank, Co-Founder and CEO of The Tie, to unravel the complexities and anticipate the future trends of the cryptocurrency market. From the implications of the Bitcoin halving to the evolving landscape of ETFs, and the shifting balance between retail and institutional influence, this discussion offers a comprehensive overview of what's shaping the crypto world today and tomorrow.

Key Discussions:

Bitcoin Halving Insights: Joshua and David shares their expert analysis on the significance of the Bitcoin halving. Is it as impactful as it's touted to be, and what might the...

Join us in this week's enthralling episode for a comprehensive journey through the cryptocurrency landscape, as we untangle the complex world of derivatives markets, navigate the unpredictable waves of altcoins, and shed light on groundbreaking onchain developments. We initiate our exploration with a detailed analysis of the derivatives market, spotlighting the notable reset in funding rates, the impact of $65 million in liquidations, and providing an insightful update on the evolving ETF scene.
Derivatives Insight:
 

Our special guest Ben Rodriguez (Senior Protocol Specialist, Coinbase Cloud) helps us navigate the Ethereum layer-2 landscape post-Dencun Fork, as the total value locked on these networks has picked up sharply in recent weeks. But there still seems to be some congestion-induced fee volatility on these L2s despite the fact that EIP-4844 helped reduce fees. We also discuss EigenLayer with respect to the upcoming launch of actively validated services as well as the tradeoffs inherent in liquid restaking tokens.Separately, our senior CES sales traders Georg Toropov and Greg Sutton walk us through the markets and flows, covering...

In this episode, we welcome Sui Chung, CEO of CF Benchmarks, as our special guest to unravel the intricacies of crypto index provision and its important impact on the market. Sui offers an enlightening overview of the role of an index provider and delves into the impressive scope of CF Benchmarks, which underpins >$20Bn of assets. He provides insider insights into the anticipated integration of wirehouses, the significant capital influx expected from wirehouses and RIAs, and explores the burgeoning international demand and possibilities for increased investment.Sui also sheds light on the observable shifts in spot volume patterns following...

In another busy week, this episode dissects the monumental achievements and pivotal trends shaping the blockchain and digital asset world.

Market Update:

Join us for an in-depth exploration of the latest advancements in the crypto space, with a spotlight on Base, Ethereum’s Layer 2 solution that’s rapidly gaining traction. This episode features a special guest, Jesse Pollak, who is about to celebrate his 7th anniversary at Coinbase. Jesse’s journey from leading retail operations to focusing on the development of Base has positioned him as a key figure in the crypto community. His unique insights into the evolution of Base and its significant role in the broader crypto market promise to make this a captivating discussion.

Base Unveiled: Jesse...

In this episode of our podcast, we sit down with Shiliang Tang, President of Arbelos Markets, who entered the crypto space in 2012 and has since become a leading authority in the crypto derivatives market. Shiliang shares his unique insights on how market structures have evolved over the years and the significant role derivatives have played in the recent upward trends in the market.

Diving deeper, Shiliang discusses the influence of an ETH overwriter from Asia and its implications for the market dynamics. Our market update segment, with our experts David Duong, Gregory Sutton and Sid Shekhar, provides...

In this episode, we celebrate Ethereum breaking the $3k mark, a testament to the anti fragile nature of the crypto market. Georg takes the lead with an in-depth analysis of ETF flows, highlighting a record-breaking week and the year-to-date performance that paints a picture of growing investor confidence. He also provides a comprehensive market update, delving into the greed and fear index and the strategic positioning within ETH as it achieves this new milestone. Additionally, Georg sheds light on FIL’s significant open interest and the emerging story of SEI. 

David steps in with crucial macro updates in...

In this episode, join us as Josh kicks things off with a comprehensive market update, covering the significant movements in BTC, the latest on ETF flows, and an in-depth look at locked ETH dynamics, including developments around Eigenlayer, stETH, Blast, and the anticipation surrounding upcoming unlocks. This segment provides a nuanced understanding of the factors driving current market behaviors and what they might indicate for the future. 

David takes the conversation further into the realm of macroeconomics, dissecting today's inflation data and offering his seasoned outlook on potential rate cuts. His analysis bridges the gap between traditional f...

In this engaging podcast episode, we dive deep into the latest developments across the traditional and cryptocurrency markets, starting with Georg's comprehensive market update. David then offers a crucial macroeconomic perspective, shedding light on the implications of Powell's recent remarks which have tempered expectations for an imminent interest rate cut in March, pivoting our sights towards a potential May adjustment. This segment explores the enduring disinflationary trends, with a particular focus on China's economic landscape and the troubled commercial real estate sector and how that could affect crypto prices.

Greg takes the helm to analyze current flows...

On Tuesday 30th January, the Coinbase Institutional Team hosted Jules Urbach the CEO of Otoy, the company behind Render and Trevor Harries-Jones, the COO. Located at our Hudson Yards office, David Duong (Head of Institutional Research) and Ben Rodriguez (Senior Protocol Specialist) conducted an insightful fireside discussing the following:

Hosted by Simp...

In this enlightening episode, we’re joined by Ben Dean, Director of Digital Assets at WisdomTree, to unravel the complexities and future of cryptocurrency ETFs. Ben shares his journey into the crypto space deep dives into the current state of spot Bitcoin ETFs, 2 weeks post-launch, amidst Bitcoin’s weakness.

We discuss the potential for an Ethereum ETF and the nuanced demand potentially awaiting unlock for Ethereum exposure. The conversation also covers forthcoming ETH ETF deadlines, suggesting a significant probability increase for approvals, with a keen eye on May as a critical timeline. The conversation navigates to concerns arou...

In this captivating episode, we’re excited to host Arianna Simpson, General Partner at a16z and a seasoned veteran in the crypto space with over 11 years of experience. Arianna shares her profound insights into the direction of consumer Web3 heading into 2024, offering a unique perspective gained from her extensive involvement in the industry. 

We delve into the innovative developments observed during the crypto winter, uncovering what has been brewing behind the scenes. Arianna discusses the burgeoning potential of Web3 gaming and creator economies, highlighting how these domains are set to revolutionize user interaction and engagement. 

Th...

In this special edition of our podcast with James Seyffart, an ETF research analyst at Bloomberg intelligence, we dive into the launch of spot bitcoin ETFs in the US - a watershed moment for the expansion of the cryptoeconomy. We compare and contrast these products with BITO and the seminal gold ETF, hypothesize on their future differentiation, and consider key aspects such as proof of reserves and fee waivers.

We also cover liquidity and AUM perspectives and the other attributes that may help ETFs succeed, alongside our thoughts on market share distribution and the strategic considerations for...

In the final podcast of the year, we delve into David’s comprehensive 2024 crypto market outlook (read it here), offering a glimpse into the future of key players like Solana, Ethereum, and Bitcoin. David unpacks the potential trajectories and pivotal developments anticipated for these major assets, providing listeners with an informed perspective on what to expect in the coming year.

We also explore the evolving landscape of ETFs within the crypto space, discussing their potential impact and the new dynamics and products they might introduce. Special attention is given to DEPIN and the burgeoning area of Data Av...

In this week’s episode, we welcome James Check, the lead analyst at Glassnode, as our special guest. James delves into the on-chain dynamics of the recent Bitcoin rally and its subsequent price drop last Sunday, offering a detailed analysis of the market’s movements. He sheds light on how the behavior of long-term holders and the average acquisition price of Bitcoin influence its trading patterns.

Further exploring the lifecycle of bull markets, James provides an expert perspective on the different stages and what might lie ahead for crypto enthusiasts. A significant focus is placed on the upco...

In this week's episode of our podcast, we're joined by special guest Anjan Vinod, Vice President at Parafi, one of the oldest crypto funds, who brings a wealth of expertise in the evolving landscape of digital assets. Anjan dives into the intricate trade-offs between modular and monolithic blockchain structures, discussing how these choices impact the ecosystem. He also sheds light on the burgeoning growth in Real World Assets within the crypto space, along with insights into the DEPIN..

Anjan further explores the evolving landscape of stablecoins, dissecting their product-market fit and potential future trajectories. The discussion also...

In this episode of our podcast, Josh kicks off with the latest news shaking the crypto world. We dissect the Binance news, delve into the groundbreaking entry of USDC in Japan, and analyze recent trends in crypto fund inflows. 

David takes the reins to explore macroeconomic factors, focusing on consumer spending and what the outlook for 2024 could mean for the digital asset space. This segment offers a crucial understanding of how broader economic trends might influence crypto markets. 

Greg, in his segment, presents an intriguing hypothesis from a recent JPM note on potential flows in GB...

In this special Thanksgiving episode, we invite some of our previous guests to talk through two themes:

1. What they’re excited about across markets and web3

2. What they’re thankful for!

Thank you to the following contributors for their incredible insights!

In this episode of the Coinbase Institutional podcast, we delve into investor positioning and reveal pivotal insights into ETF expectations, the impact of the upcoming halving, and other considerations dominating institutional minds. 

We also tackle the burning question on everyone’s lips: are we in a bull market? Our analysis takes a deep dive into the latest macroeconomic data, flows and news, providing listeners with a comprehensive understanding of the current climate influencing digital assets. 

Additionally, we cover new and returning capital in the crypto space and take a look at futures basis and the Gray...

On Friday 27th October, the Coinbase Institutional team hosted Robbie Ferguson, the Co-Founder and President of Immutable. Located at our Hudson Yards office, David Duong (Head of Institutional Research) and Ben Rodriguez (Senior Protocol Specialist) conducted a far reaching interview discussing the following:

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data...

In this week edition of the Coinbase Institutional podcast, we sit down with Tushar Jain, Managing Partner at Multicoin Capital, for an in-depth discussion on Solana and insights from the recent Breakpoint conference. Tushar, with his intimate knowledge of Solana, unpacks the event's major highlights, including the buzz around Firedancer, Solana's ventures into payment solutions with heavyweights like Visa, and the innovative DePin projects. 

The conversation navigates through the frameworks Tushar uses when valuing Layer 1 protocols, focusing on the metrics he finds most important, while also contrasting integrated and modular blockchain infrastructure. Tushar also shares his perspective o...

We’re joined by Jennifer Murphy, the innovative Founder and CEO of Runa Digital Assets, to discuss the current market environment and answer the question on everyone's mind: are we in a bull market?

Jennifer spent over 30 years in asset management before founding Runa and brings her extensive knowledge to the table, providing valuable insights on the pressing question of whether we are currently navigating a bull market in digital assets. She meticulously discusses the far-reaching implications of introducing an ETF to the crypto space, and shares her expert perspective on Network Theory.

David and Je...