A look at the new SEC-registered, yield-bearing stablecoin

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There’s a new stablecoin on the block. 

Figure Markets is calling its new offering the first SEC-registered public security USD stablecoin native to a blockchain.

Called YLDS, it pays an interest rate of secured overnight financing rate (SOFR) minus 0.50%. Users can transfer the securities peer-to-peer via the Provenance blockchain using Figure Markets’ self-custody wallets.

It was roughly a year ago that I caught up with Figure CEO Mike Cagney at Blockworks’ Digital Asset Summit in London. He told me then — following a $60 million raise — that his company was working…

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FOMC minutes hint at end of quantitative tightening

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January’s FOMC meeting minutes were released this week, providing plenty of fodder for monetary plumbing nerds to piece together what the Fed thinks about bank reserves and its ongoing campaign of quantitative tightening (QT).

As seen in the chart below, the QT campaign has been fraught with nuance and idiosyncratic offsetting. As QT occurred, the vast majority of it has been offset by the reverse repo facility (RRP) balance as seen by the white line below. 

Further, this has been hiccuped by the debt ceiling debacle of 2023 and the SVB banking crisis that led to the bank term…

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Emergency Sky proposal sparks governance debate

Sky (formerly MakerDAO) governance is grappling with the implications of an emergency proposal executed today that alters MKR’s role within the ecosystem. Pitched as a necessary move to protect protocol security, these changes’ swift approval has instead ignited debates over transparency, process integrity and the risk implications for DAI/USDS.

The proposal eliminates the longstanding 5% exit fee on MKR withdrawals, significantly expands borrowing against MKR collateral and raises borrowing rates — while simultaneously lowering liquidation thresholds. Critics argue these measures increase the protocol’s risk of exposure, particularly given that MKR now has one of the…

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Bitcoin, Ethereum Face Downside Risk As Institutional Demand Fades, JPMorgan Says

JPMorgan analysts have raised concerns over declining institutional demand for Bitcoin BTC/USD and Ethereum ETH/USD futures, suggesting this trend could contribute to broader weakness in the cryptocurrency market.

What Happened: The analysts observed that futures contracts for both cryptocurrencies on the Chicago Mercantile Exchange are approaching a condition known as backwardation, where futures prices drop below spot prices, according to The Block.

This pattern was previously seen during downturns in June and July last year.

The total market capitalization of cryptocurrencies has decreased by about 15 percent since hitting a peak of $3.7 trillion in December, now hovering…

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The Next Decade, Part 4: Actual Predictions

Think back through Bitcoin’s history. I guarantee you a handful of events just popped into your mind first, like landmarks. If you kept thinking your mind probably started filling in from there with those landmark events as anchors.

Don’t take these as hard predictions, ignore the coating of hyperbole I can’t stop myself from adding everywhere, and note these don’t come with dates. I’m going to run through a list of “watershed moments” or macro-scale shifts in things that I think are practically guaranteed to happen or begin in the next decade.

— A Visit To The US Supreme Court —

Bitcoin creates an inherent contradiction within the current regulatory and legal framework,…

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LATEST: Strategy Launches $2 Billion Convertible Notes Offering Targeting Bitcoin Acquisition

Strategy™ (Nasdaq: MSTR) today announced a significant financial move with the pricing of its $2.0 billion zero-interest convertible senior notes set to mature in 2030. The private offering targeted at qualified institutional buyers could increase by $300 million if the initial purchasers exercise their option within five days from issuance.

The notes structured as senior unsecured obligations do not bear regular interest nor will the principal amount accrete. Holders of the notes have specified times and conditions under which they can convert their notes into Strategy’s class A common stock before the notes mature on March 1 2030.

Strategy intends to funnel the substantial net proceeds estimated at approximately $1.99 billion towards general corporate purposes. This includes the strategic acquisition of bitcoin and enhancing working capital signaling a robust commitment to integrating cryptocurrency into its financial strategy.

Source

XRP Up 297% Against Bitcoin Since Donald Trump Won The Election: Here’s Why

XRP’s XRP/USD latest surge follows the SEC acknowledging CoinShares’ spot XRP ETF filing and Donald Trump’s media post referencing Ripple’s business—fueling speculation about XRP’s role in future crypto adoption.

CryptocurrencyPrice   Market Cap24-Hour Trend7-Day TrendXRP XRP/USD$2.69$155.6 billion+3.5%+10.3%Bitcoin BTC/USD$97,546.59$1.93 trillion+1.5%+1.7%Ethereum ETH/USD$2,747.97$331.4 billion+1.2%+3.5%

Trader Notes: Crypto chart analyst Ali Martinez highlights that XRP is forming an ascending triangle, positioning for a breakout that could lead to a 26% rally.  

CrediBULL Crypto sees an ideal setup but warns that XRP/ETH is showing a triple-tap pattern, suggesting…

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