SM Market Review (Nov 2021): Macro headwinds build

The traditional macro world took some steam out of bitcoin in November. Crypto investors may have shifted capital away from trad-fi, but trad-fi liquidity flows will remain critical in the months ahead. A stronger USD and flatter yield curve tell a cautionary tail as we edge deeper into the bitcoin bull-market. TLDR: Bitcoin fundamentals remain … More SM Market Review (Nov 2021): Macro headwinds build

SM (ed. 13): Stablecoins – bitcoin’s Pandora’s box

Stablecoins are an important and revealing innovation. With deep liquidity, lightning-fast settlement, and dramatic user growth these crypto USDs pose important questions for regulators and traditional financial markets. TLDR: Stablecoins present both challenges and opportunities to regulators, the financial system, and investors. The unfolding regulation of these instruments provides insights for the clash between centralized … More SM (ed. 13): Stablecoins – bitcoin’s Pandora’s box

Bitcoin Bulletin: Arbitrage opportunity on ZAR-USD bitcoin spread

This is a research piece on the bitcoin arbitrage opportunity between South African exchanges and global exchanges. It’s not relevant for non-South African readers. Concept Bitcoin (BTC) is purchased through BTCZAR markets in South Africa, which is different to BTCUSD markets globally. When converting the BTCZAR price into USD, we tend to see a spread … More Bitcoin Bulletin: Arbitrage opportunity on ZAR-USD bitcoin spread