Data-Driven Analysis of Cryptocurrency Markets, Kaiko

Kaiko

Data-Driven Analysis of Cryptocurrency Markets

Kaiko is the leading cryptocurrency market data provider for institutional investors and enterprises. We empower market participants with accurate, transparent, and actionable financial data to be leveraged for a range of market activities. Kaiko’s mission is to be the foundation of the new digital finance economy by serving as a single source for market information. Our mission is premised on the idea that high-quality data drives market efficiency and greater transparency throughout the industry. For each of our enterprise clients, we build custom data plans designed for a range of use cases.

Crypto

<ul><li>Silvergate is in deep trouble. On March 1, the “crypto bank” revealed in a regulatory filing that it could soon be “less than well capitalized.”</li><li>The news prompted Coinbase, Paxos, Galaxy Digital and a host of other large crypto enterprises to drop Silvergate as a banking partner. Why does this matter? </li><li>The “fiat problem” has long plagued crypto markets: to buy bitcoin, you at some point need to interact with the traditional banking system.</li></ul>

Silvergate is in deep trouble. On March 1, the “crypto bank” revealed in a regulatory filing that it could soon be “less than well capitalized.”The news prompted Coinbase, Paxos, Galaxy Digital and a host of other large crypto enterprises to drop Silvergate as a banking partner. Why does this matter? The “fiat problem” has long plagued crypto markets: to buy bitcoin, you at some point need to interact with the traditional banking system.

<ul>
<li>The crypto industry was again shaken this week when news came out that the NY Department of Financial Services (NYDFS) had ordered Paxos to stop issuing BUSD, with an NYDFS spokesperson saying Paxos “violated its obligation to conduct tailored, periodic risk assessments and due diligence refreshes of Binance and Paxos-issued BUSD customers to prevent bad actors from using the platform.”</li>
<li>Additionally, it was revealed that the Securities and Exchange Commission (SEC) sent a Wells notice to Paxos, informing the company that the SEC is considering legal action against Paxos, alleging that BUSD is a security. (I’ve offered my thoughts on the regulatory aspect of this here.) </li>
<li>We’ve covered BUSD’s growth and market share extensively in previous Data Debriefs, noting that about 35% of Binance volume is denominated in BUSD and it quickly grew to the third largest stablecoin by market cap</li>
</ul>


The crypto industry was again shaken this week when news came out that the NY Department of Financial Services (NYDFS) had ordered Paxos to stop issuing BUSD, with an NYDFS spokesperson saying Paxos “violated its obligation to conduct tailored, periodic risk assessments and due diligence refreshes of Binance and Paxos-issued BUSD customers to prevent bad actors from using the platform.”
Additionally, it was revealed that the Securities and Exchange Commission (SEC) sent a Wells notice to Paxos, informing the company that the SEC is considering legal action against Paxos, alleging that BUSD is a security. (I’ve offered my thoughts on the regulatory aspect of this here.) 
We’ve covered BUSD’s growth and market share extensively in previous Data Debriefs, noting that about 35% of Binance volume is denominated in BUSD and it quickly grew to the third largest stablecoin by market cap


<ul><li>Last week MakerDAO, one of DeFi’s oldest lending protocols, voted to invest $500m of their collateral pool into US Treasuries and Corporate Bonds.</li><li>This is the first time a decentralized organization has voted to undertake a “real-world” allocation of such scale, and all the more remarkable considering it will go to a government-issued asset. </li><li>MakerDAO is the Decentralized Autonomous Organization behind the 4th largest stablecoin by market cap, DAI, which is used throughout the DeFi ecosystem.</li></ul>

Last week MakerDAO, one of DeFi’s oldest lending protocols, voted to invest $500m of their collateral pool into US Treasuries and Corporate Bonds.This is the first time a decentralized organization has voted to undertake a “real-world” allocation of such scale, and all the more remarkable considering it will go to a government-issued asset. MakerDAO is the Decentralized Autonomous Organization behind the 4th largest stablecoin by market cap, DAI, which is used throughout the DeFi ecosystem.

MakerDAO: The Winding Path to Decentralization

Independent Research, Cryptocurrencies, Carbono Insights

Carbono Insights

Independent Research, Cryptocurrencies

Advisory Firm Specialized in Cryptocurrencies

Carbono is an advisory firm specialized in cryptocurrencies that helps clients navigate the economic and financial innovations derived from the rise of digital assets. Our investment fund, Abacus Carbono, is designed to be an on ramp for investors interested in cryptocurrencies and projects born under the crypto-economy principles.

<ul>
<li>Episode 1 - Terra’s doomsday - Do Kwon was sure that nothing could happen to the UST.</li>
<li>Episode 2 - Celsius heats up, 3AC takes an arrow to the heart - Alex Mashinsky probably drank from the same fountain of confidence as Do.</li>
<li>Episode 3. Credit Crisis Contagion - To be fair, there is a global liquidity crisis: money flows out of crypto as fast as it’s flown out of any other risky investment (including well-established tech stocks).</li>
</ul>


Episode 1 - Terra’s doomsday - Do Kwon was sure that nothing could happen to the UST.
Episode 2 - Celsius heats up, 3AC takes an arrow to the heart - Alex Mashinsky probably drank from the same fountain of confidence as Do.
Episode 3. Credit Crisis Contagion - To be fair, there is a global liquidity crisis: money flows out of crypto as fast as it’s flown out of any other risky investment (including well-established tech stocks).


<ul><li>Trend of the Week: Tether’s market cap has plummeted amid a reportedly sharp increase in bearish bets.</li><li>Price Movements: BTC dipped below $20k while ETH held steady above $1k as credit contagion continued to roil markets.</li><li>Market Liquidity: Binance.US processed a record number of transactions after eliminating BTC trading fees.</li></ul>

Trend of the Week: Tether’s market cap has plummeted amid a reportedly sharp increase in bearish bets.Price Movements: BTC dipped below $20k while ETH held steady above $1k as credit contagion continued to roil markets.Market Liquidity: Binance.US processed a record number of transactions after eliminating BTC trading fees.

BTC Drops Below $20k as Credit Contagion Spreads

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Dai (DAI CURNCY)

The Future of Fiat On-Ramps

Silvergate is in deep trouble. On March 1, the “crypto bank” revealed in a regulatory filing that it could soon be “less than well capitalized.”

Kaiko

The Unwinding of BUSD

We’ve covered BUSD’s growth and market share extensively in previous Data Debriefs, noting that about 35% of Binance volume is denominated in BUSD

Kaiko

MakerDAO: The Winding Path to Decentralization

Last week MakerDAO, one of DeFi’s oldest lending protocols, voted to invest $500m of their collateral pool into US Treasuries and Corporate Bonds.

Kaiko

#32 DeFi stays strong

Episode 1 - Terra’s doomsday - Do Kwon was sure that nothing could happen to the UST.; Episode 2 - Celsius heats up, 3AC takes an arrow to the heart

Carbono Insights

BTC Drops Below $20k as Credit Contagion Spreads

Trend of the Week: Tether’s market cap has plummeted amid a reportedly sharp increase in bearish bets. Price Movements: BTC dipped below $20k while...

Kaiko

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