“Worst Case, I’ll Get My Bitcoin Back” The Grayscale trade was the first taste of “Bitcoin arbitrage” and one of the many powder kegs of the 2022 crypto credit bubble. The trade looked like an easy lunch; borrow Bitcoin, lock it into the Grayscale trust, mint new shares and
“JPMorgan to Allow Bitcoin and Ether as Collateral in Crypto Push” Friday's Bloomberg headline generated significant buzz. The crypto community has a tendency to grab a headline and run with it, but in this case, much of the excitement was warranted. The Winding Path Here. Less than 2
Tolstoy opens Anna Karenina by observing: “All happy families are alike; each unhappy family is unhappy in its own way.” Bitcoin is the opposite. Bitcoiners acquire and hold bitcoin in countless ways, but it’s lost only three: stolen, sold, or surrendered. ¹ I’ve had the privilege of meeting many
The Weight of the Curve There’s been a lot made these past weeks about Fed independence, the path for short-term rates, the resilience of the U.S. economy, and what it all means for bitcoin. The overnight rate was cut 25 bps. There was a dissenting vote, plenty of
When Atomic.Finance started building with DLCs, they were untested in production. We took something novel but elegant and proved it could survive the adversarial environment that is the Bitcoin network. $140M in volume later, with $25M in BTC TVL locked in our options vaults, we validated something important: DLCs