Executive Summary: Grayscale Investments’ recent court ruling in favor of launching the first-ever Bitcoin ETF in the U.S. is a watershed moment for the cryptocurrency ecosystem. Beyond the immediate market reaction, this event points towards a maturing regulatory environment and sets a potential precedent for the broader adoption of crypto-focused financial products. Regulatory Inconsistencies: Upon… Read More Quick Takes: Grayscale’s Victory & The Evolution of Cryptocurrency Regulation

Wealth transfers have, throughout history, acted as a cornerstone of societal evolution. These transfers are not mere shifts of assets from one hand to another; they represent changes in power dynamics, socio-economic structures, and often herald a new epoch in human civilization. The French Revolution: A Primer on Wealth Transfer Consider the French Revolution, a… Read More A Macro Perspective on Wealth Transfers: From the French Revolution to Bitcoin

In our constant endeavor to find companies ready to launch products and services in the gene therapy space, we come across Vertex Pharmaceuticals and CRISPR Therapeutics, who alongside bluebird bio, are penning a new chapter in the story of gene therapy for sickle cell disease. Now, to bring this into context, the recent report by… Read More Gene Therapy Breakthroughs on the Horizon

The macro narrative is missing a giant piece of the puzzle. Dive deep into the data, and an understated deflationary shock from China becomes evident. Surprisingly, in the face of a 6% depreciation of the yuan against the USD over the past 12 months – an event that, by all accounts, should be inflationary –… Read More Macro Note: The Deflationary Dragon

Over the past decade, I’ve been notably bullish on China, driven by their remarkable growth trajectory since the 1970s and the potential for their equities to dominate globally. However, post-2020, certain events have prompted a reevaluation of this stance. The emergence of the pandemic in 2020, coupled with the unchallenged ascendancy of Xi, has cast… Read More Rethinking China: From Bullish Optimism to Cautious Realism

In a recent radio interview on the U.S. banking crisis, I talked about the urgent need for banking business models to adapt to the lightning-fast pace of real-time settlements. Why? Because in this age of social media and digital banking, when bank runs happen, they happen at a pace that’s almost surreal. It is no… Read More FedNow, Stablecoins, and the New Frontier Eurodollar Market

Caitlin Long is someone I’ve been tracking for a while now. Trust me when I tell you, she knows her stuff when it comes to crypto. Recently, she’s dissected the demise of Prime Trust, a state-chartered trust company that’s now stumbling through a voluntary Chapter 11. According to Caitlin, your typical banks offer their clients… Read More Insights into Crypto Bankruptcy

In the feverish madness of 2020 and 2021, the powers that be – governments and central banks – decided that maybe modern monetary theory works and used it to guide their policies. They kicked their printing presses into high gear, churning out fantastical amounts of money and buying debt with a fervor that would have… Read More The Great Reset: Dancing on the Edge of a Debt Vortex

The Soft landing Thesis Contrary to the mainstream financial prophecy (including my own), The Federal Reserve (FED) persists in its narrative that there will not be a recession in the near future. This statement presents itself as a stark contrast to the forecasts of various banks and financial pundits (again, including myself) who prophesize a… Read More Contradictions and Paradoxes: Decoding the Federal Reserve’s Soft Landing Narrative

The Bank of Japan (BoJ) is taking the macro world for a spin. It’s shaking up its yield curve control (YCC) policy, expanding its trading band for 10-year GDP yields from a range of 50 basis points to a much broader range of 100 basis points. This is a remarkable move that introduces higher volatility… Read More BOJ’s Yield Curve Policy Pivot and the Echo Across Global Markets