July 2022 Institutional Reading List

In the July edition we present a roundup of institutional trading intelligence, recent venture capital investments, institutional and blockchain news, and more.

July 18, 2022

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Written by

  • Coinbase Institutional

In this edition of the Coinbase Institutional Monthly Reading List we present a roundup of Coinbase institutional trading intelligence articles, take a look at recent venture capital investments, cover the latest in institutional and blockchain news, and more.

We also encourage readers to visit and subscribe to our team’s other publications to stay up to date via our Weekly Market Commentary, Institutional Research Portal, Twitter account, and Weekly Market Update Calls.

Institutional trading intelligence

The Elusive Bottom We discuss the issue of (over)leverage in the crypto ecosystem and evidence of improper risk management in recent weeks, compounding the effect of market volatility.

Bitcoin mining: investment cycles We analyze the key variables which drive profitability for miners and assess the level of stress across the industry to estimate current cycle positioning.

Quantitative Crypto Insight: A systematic crypto trading strategy using perpetual futures Perpetuals futures are financial instruments that have become increasingly popular in the crypto space. Coinbase demonstrates a hypothetical simple delta neutral strategy which takes advantage of positively skewed funding rates in the perpetual futures market to achieve a high return on investment.

Venture capital crypto watch

Solana’s Macalinao Brothers Launch $100M VC Fund Solana developers Dylan and Ian Macalinao have debuted Protagonist, a $100M venture capital firm and incubator fund. CoinDesk previously reported on the existence of the fund last month based on regulatory filings.

Lightspeed raises $7.1B across four funds Lightspeed has raised $7.1B across three U.S. funds and an India fund—and it’s delving further into crypto as it launches a joint partnership with Blockchain Ventures co-founder Sam Harrison.

Multicoin Capital Announces $430M Venture Fund for Crypto Startups The venture capital giant’s latest fund – in combination with its already existing vehicles – will invest $500k-$1M in early-stage projects and up to $100M or more for more mature opportunities.

Crypto economy tracker

How Three Arrows Capital Blew Up and Set Off a Crypto Contagion Su Zhu and Kyle Davies turned 3AC into the most important hedge fund in crypto, but they bet everything on prices only going up.

Options for access to and interoperability of CBDCs for cross-border payments The report identifies and analyses different options for access to CBDCs and their interoperability that could improve cross-border payments, including how they can interconnect with non-CBDC payment arrangements.

SEC Weighs Waiving Some Rules to Regulate Crypto, Gensler Says Wall Street’s top regulator may use its authority to exempt crypto companies from certain securities laws to help the industry come into compliance, Securities and Exchange Commission Chair Gary Gensler said Thursday.

Shanghai included blockchain, NFTs and Web3 in its 5-year plan Shanghai's Municipal Government published a draft of its "14th Five-Year Plan for the Development of Shanghai's Digital Economy." The document sets its mission of "promoting the deep integration of digital technology and the real economy," with "scientists judging technology prospects" and "entrepreneurs discovering market demand."

Institutional & blockchain news

Celsius Network Files for Chapter 11 Bankruptcy Celsius Network, the crypto lender that is facing a liquidity crisis, has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York, the company said in a statement issued late Wednesday.

StarkWare Confirms Long-Rumored StarkNet Token StarkWare, which created the StarkNet blockchain scalability solutions, confirmed Wednesday the creation of the long-rumored StarkNet token to help maintain, secure and evolve the ecosystem.

Ethereum merge update It seems like the week of September 19 is the provisional date for the Beacon Chain to merge with Ethereum’s mainnet. The upgrade to the Bellatrix protocol rules (a precondition for the event) should take place in early September.


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