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El Salvador is still Bitcoin country, despite the fact that bitcoin is no longer legal tender in the country — at least from where I’m sitting.
Let’s start with some background on the matter.
On January 29, 2025, the Legislative Assembly in El Salvador voted to remove bitcoin’s status as legal tender.
This means that businesses in the country no longer have to accept bitcoin (not that this rule was ever strictly enforced while bitcoin…
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This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.
The US Treasury Department issued its quarterly refunding statement this week. As Felix alluded to yesterday, this is where officials announce their debt issuance plans for the coming quarter.
The Treasury will be holding auction sizes steady “for at least the next several quarters,” the latest statement read. Treasury yields, in response, slid. 10-year yields were hovering around 4.5% Friday while the 2-year rose to 4.28%.
Normally, higher yields mean lower stocks, like we saw in 2022 when the 10-year rose to over 4% and the S&P 500 ended the year almost 20% lower.
In…
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Story is a sovereign layer-1 blockchain built using the Cosmos SDK and CometBFT consensus, with an added EVM execution — a custom Geth fork. This choice allows for full governance control, optimized execution for intellectual property workflows and a staking economy based on the $IP token.
Standard blockchain environments — even high-performance chains like Solana — struggle with modeling the recursive licensing structures that intellectual property ecosystems require, the team said. Story’s unique graph-based architecture is specifically designed to handle the complex relationships between intellectual property assets, the team said.
While Story Protocol’s vision of a…
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On February 7, 2025, the U.S. Bitcoin ETFs recorded a total net outflow of 1,136 BTC, substantially higher than the 450 BTC of Bitcoin mined that day, indicating a significant day of selling or rebalancing across various funds.
Fidelity’s Bitcoin ETF (Ticker: $FBTC) experienced the largest decrease, with an outflow of 1,070 BTC. This major withdrawal could suggest either a shift in investor strategy within the fund or larger market movements influencing investor decisions. Additionally, BlackRock’s Bitcoin ETF (Ticker: $IBIT) also saw a decline, though less severe, with an outflow of 120 BTC.
Conversely, Invesco Galaxy’s Bitcoin ETF (Ticker: $BTCO) had a modest influx of 62 BTC, hinting at some localized confidence or specific buying interest in their approach to Bitcoin management. Grayscale’s Bitcoin Trust (Ticker: $GBTC) and the smaller funds like Valkyrie’s (Ticker: $BRRR) and others remained relatively stable with minor adjustments, indicating a lack of significant activity or maintaining a hold strategy during this period.
Overall, the day’s net flow suggests a cautious or bearish sentiment among the larger Bitcoin ETF participants, contrasting with the normal optimism seen in the market on other days. Such a trend is crucial for understanding the dynamic nature of investor sentiment and market liquidity concerning Bitcoin ETFs.
Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.
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The Commodity Futures Trading Commission (CFTC) is gearing up for a CEO Forum to discuss its new digital asset markets pilot program. This initiative aims to explore tokenized non-cash collateral such as stablecoins underlining the agency’s proactive stance in integrating crypto innovations into the financial system. With key participants like Circle Coinbase and Ripple this event is poised to foster significant discussions on the future of digital finance.
Acting Chair Caroline D. Pham has been a vocal advocate for utilizing distributed ledger technology to enhance the efficiency of financial markets. Her leadership in pushing for expanded use of non-cash collateral showcases the CFTC’s commitment to embracing technological advancements. The involvement of prominent crypto companies will ensure that the industry’s insights are well represented and considered in policy formulations.
This pilot program symbolizes a crucial step towards regulatory clarity and acceptance for cryptocurrencies. By facilitating these high-level talks the CFTC helps bridge the gap between traditional financial mechanisms and the burgeoning world of digital assets. This collaboration is essential for crafting a regulated environment where innovation thrives and consumer protections are upheld.
This is a segment from the Empire newsletter. To read full editions, subscribe.
What’s a good way to gauge how crypto’s faring without depending too much on price action?
If you ask Kaiko, it’s L2s.
So far, since the election, the research firm’s L2 index has traded higher, which is — admittedly — perhaps not a huge surprise, given that all of crypto took on an optimistic outlook starting in November.
The index tracks five L2s across Bitcoin and Ethereum. It also tracks Polygon.
As you can see above, we have Stacks, Optimism, Arbitrum, Polygon and Starknet in the same bucket.
Keep in mind that L2s are making a comeback so far after falling…
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Wouldn’t it be great if we had one all-encompassing metric to guide our Bitcoin investing decisions? That’s precisely what has been created, the Bitcoin Everything Indicator. Recently added to Bitcoin Magazine Pro, this indicator aims to consolidate multiple metrics into a single framework, making Bitcoin analysis and investment decision-making more streamlined.
For a more in-depth look into this topic, check out a recent YouTube video here: The Official Bitcoin EVERYTHING Indicator
Why We Need a Comprehensive Indicator
Investors and analysts typically rely on various metrics, such as on-chain data, technical analysis, and derivative charts. However, focusing too much on one aspect…
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