Happy Monday, Blockfolians
Everyone is getting hyped about Coinbase’s upcoming IPO. Will it begin the next leg of the bull market?
It’s likely that at least part of the answer to that question rests on the question of whether institutional demand for bitcoin (and other crypto) continues or even grows.
Some intriguing news on that front. SEC filings from last week show that billionaire Dan Loeb’s Third Point hedge fund has crypto holdings with Coinbase. In total, Third Point manages about $17B and has crypto with five of their funds.
When the article was published, Loeb had this cheeky response.
Outed as ahttps://t.co/fXRVBUYAdW
SCOOP: Hedge funder @DanielSLoeb1’s $17 billion @ThirdPointLLC is a client of @coinbase’s custody arm, SEC filings show.
Bonus points for the laser eyes.
If Third Point is any indication, there’s even more institutional bitcoin buying than we know.
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Highly Relevant Reading
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Circle steals Dante Disparte from Diem/Libra
Galaxy Digital becomes the latest to file for an ETF
An absolutely phenomenal thread on where Bitcoin is and where it’s headed
My current thoughts on$BTC
Very long thread, forgive me.
Summary at tweet 44
Dumbed down summary at tweet 45
Sam’s take on Binance following FTX into the wild world of tokenized stocks
Broke:has stocks, FTX’s are dead.
Woke: Binance only has 1 stock, only 33 hours/week, no futures, and 3rd parties can’t create with CM-E
Bespoke: This is just their beta. Only by competing and challenging each other to do better can we push the industry forward.
A Really Big Number We Should Be Paying Attention To
That’s how much legendary rapper Nas stands to make from the Coinbase public listing.
presented without comment