Coinbase Markets Podcast

Latest Episodes:

2024 Crypto Forecast Dec 19, 2023

Show notes

In the final podcast of the year, we delve into David’s comprehensive 2024 crypto market outlook (read it here), offering a glimpse into the future of key players like Solana, Ethereum, and Bitcoin. David unpacks the potential trajectories and pivotal developments anticipated for these major assets, providing listeners with an informed perspective on what to expect in the coming year.

We also explore the evolving landscape of ETFs within the crypto space, discussing their potential impact and the new dynamics and products they might introduce. Special attention is given to DEPIN and the burgeoning area of Data Availability, highlighting how these elements could reshape the digital asset environment for the better.

At the end of the call, our team shares their personal excitement for 2024, revealing what they are most looking forward to. Whether it’s technological advancements, regulatory changes, or market trends, this segment offers a unique blend of professional analysis and personal enthusiasm.

Wishing everyone Happy Holidays! Thank you so much for listening and remember to subscribe for more in-depth analysis and expert takes in 2024.

Host:

Ben Floyd, Head of Execution Services

Panelists:

David Duong, Head of Institutional Research
Greg Sutton, Senior CES Sales Trader
Georg Toropov, Senior CES Sales Trader

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Bitcoin, Bull Markets, and Beyond Dec 13, 2023

Show notes

In this week’s episode, we welcome James Check, the lead analyst at Glassnode, as our special guest. James delves into the on-chain dynamics of the recent Bitcoin rally and its subsequent price drop last Sunday, offering a detailed analysis of the market’s movements. He sheds light on how the behavior of long-term holders and the average acquisition price of Bitcoin influence its trading patterns.

Further exploring the lifecycle of bull markets, James provides an expert perspective on the different stages and what might lie ahead for crypto enthusiasts. A significant focus is placed on the upcoming Bitcoin halving in 2024, discussing potential outcomes and expectations within the community. James also examines the expanding world of derivatives in both onshore and offshore markets, highlighting their growing impact on the cryptocurrency landscape.

Josh then steers us through a comprehensive market update, focusing on significant developments in the Solana ecosystem, including Orca and Helium, along with Helium’s new mobile plan and the notable rise in AVAX.

David concludes the episode with a macroeconomic overview and teases some key findings from our recent survey conducted in collaboration with Interactive Investor, offering a glimpse into the sentiments and trends shaping the future of digital assets.

Remember to subscribe for more in-depth discussions and expert insights in the dynamic world of crypto.

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Decoding Crypto Trends Dec 05, 2023

Show notes

In this week's episode of our podcast, we're joined by special guest Anjan Vinod, Vice President at Parafi, one of the oldest crypto funds, who brings a wealth of expertise in the evolving landscape of digital assets. Anjan dives into the intricate trade-offs between modular and monolithic blockchain structures, discussing how these choices impact the ecosystem. He also sheds light on the burgeoning growth in Real World Assets within the crypto space, along with insights into the DEPIN..

Anjan further explores the evolving landscape of stablecoins, dissecting their product-market fit and potential future trajectories. The discussion also veers into the realm of prediction markets, examining their past, current status and future prospects.

Georg then takes us through a comprehensive market update. He analyzes the current dynamics of BTC and ETH dominance versus altcoins, highlighting significant capital rotations into altcoins with STX as a prime example. Georg also discusses Celestia’s performance, attributing its success to the rising popularity of modular chains.

Finally, David provides an overview of the upcoming macroeconomic data and its potential impact on the crypto market, pinpointing specific crypto-related elements that warrant close attention.

Don’t forget to subscribe for more insights and in-depth analysis in the fast-paced world of digital assets.

Host:

Ben Floyd, Head of Execution Services

Guests:

Anjan Vinod, Vice President at Parafi
Georg Toropov, Senior CES Sales Trader
David Duong, Head of Institutional Research

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Exploring Crypto Dynamics Nov 28, 2023

Show notes

In this episode of our podcast, Josh kicks off with the latest news shaking the crypto world. We dissect the Binance news, delve into the groundbreaking entry of USDC in Japan, and analyze recent trends in crypto fund inflows.

David takes the reins to explore macroeconomic factors, focusing on consumer spending and what the outlook for 2024 could mean for the digital asset space. This segment offers a crucial understanding of how broader economic trends might influence crypto markets.

Greg, in his segment, presents an intriguing hypothesis from a recent JPM note on potential flows in GBTC post any ETF conversion. He also breaks down the futures basis in Bitcoin, offering strategies on how to navigate these trades, and highlights an uptick in flows observed on the desk.

Lastly, we dive into the realm of Web3 with Sid. The launch of Blast, a new Layer 2 platform created by the founder of Blur, has garnered attention with a staggering $600 million in TVL in its first week. We also discuss the possible ramifications of a potential hard fork in Cosmos, providing insights into what this could mean for the ecosystem.

Don’t forget to like, subscribe, and connect with the Coinbase Institutional team for further insights and updates.

Host:

Ben Floyd, Head of Execution Services

Panelists:

Josh Pak, CES Sales Trader
David Duong, Head of Institutional Research
Greg Sutton, Senior CES Sales Trader
Sid Shekhar, Blockchain Research Manager

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Institutional money: A special episode Nov 22, 2023

Show notes

In this special Thanksgiving episode, we invite some of our previous guests to talk through two themes:

1. What they’re excited about across markets and web3

2. What they’re thankful for!

Thank you to the following contributors for their incredible insights!

Tania Reif, Founder & CEO - Senda Digital Assets
Seth Ginns, Managing Partner - Coinfund
David Duong, Head of Research - Coinbase
Jennifer Murphy, Founder & CEO - Runa Digital Assets
Cosmo Jiang, Portfolio Manager - Pantera
Vance Spencer, Co-Founder - Framework Ventures
Sid Shekhar, Blockchain Research Manager - Coinbase
Jai Prasad, Co-Founder - Definitive
Viktor Bunin, Group Protocol Specialist - Coinbase
Anthony Bassili, Head of Tokenization - Coinbase

Thanks for listening in and Happy Thanksgiving!

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Crypto investor positioning Nov 14, 2023

Show notes

In this episode of the Coinbase Institutional podcast, we delve into investor positioning and reveal pivotal insights into ETF expectations, the impact of the upcoming halving, and other considerations dominating institutional minds.

We also tackle the burning question on everyone’s lips: are we in a bull market? Our analysis takes a deep dive into the latest macroeconomic data, flows and news, providing listeners with a comprehensive understanding of the current climate influencing digital assets.

Additionally, we cover new and returning capital in the crypto space and take a look at futures basis and the Grayscale product discounts.

In Web3, we discuss the uptick in Solana and a general update on the increased activity we’re seeing here.

Don’t forget to like, subscribe, and connect with the Coinbase Institutional team for further insights and updates.

Host:

Ben Floyd, Head of Execution Services

Panel:

Georg Toropov, Senior CES Salestrader
David Duong, Head of Institutional Research
Greg Sutton, Senior CES Salestrader
Sid Shekhar, Blockchain Research Manager

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A conversation with Immutable Labs Nov 10, 2023

Show notes

On Friday 27th October, the Coinbase Institutional team hosted Robbie Ferguson, the Co-Founder and President of Immutable. Located at our Hudson Yards office, David Duong (Head of Institutional Research) and Ben Rodriguez (Senior Protocol Specialist) conducted a far reaching interview discussing the following:

Immutable partnership with Polygon Labs
The Immutable Passport
The dynamics behind the IMX token
How the Immutable team think about zero knowledge technology
What the outlook is for a breakout triple A rated game integrated with Web3

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Dissecting Solana's Breakpoint Nov 07, 2023

Show notes

In this week edition of the Coinbase Institutional podcast, we sit down with Tushar Jain, Managing Partner at Multicoin Capital, for an in-depth discussion on Solana and insights from the recent Breakpoint conference. Tushar, with his intimate knowledge of Solana, unpacks the event's major highlights, including the buzz around Firedancer, Solana's ventures into payment solutions with heavyweights like Visa, and the innovative DePin projects.

The conversation navigates through the frameworks Tushar uses when valuing Layer 1 protocols, focusing on the metrics he finds most important, while also contrasting integrated and modular blockchain infrastructure. Tushar also shares his perspective on the lingering FTX overhang of SOL tokens affecting the market.

Also covered

- Basis and funding

- Macro

- Web3

This episode is an essential listen for anyone looking to comprehend the current dynamics of shaping Solana's ecosystem.

Like, subscribe, and reach out to the Coinbase Institutional team for deeper insights and analysis.

Host:

Ben Floyd, Head of Execution Services

Panel:

Tushar Jain, Managing Partner at Multicoin Capital
David Duong, Head of Institutional Research
Greg Sutton, Senior CES Sales Trader
Sid Shekhar, Blockchain Research Manager
Josh Pak, CES Sales Trader

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Decoding the digital asset landscape Oct 31, 2023

Show notes

We’re joined by Jennifer Murphy, the innovative Founder and CEO of Runa Digital Assets, to discuss the current market environment and answer the question on everyone's mind: are we in a bull market?

Jennifer spent over 30 years in asset management before founding Runa and brings her extensive knowledge to the table, providing valuable insights on the pressing question of whether we are currently navigating a bull market in digital assets. She meticulously discusses the far-reaching implications of introducing an ETF to the crypto space, and shares her expert perspective on Network Theory.

David and Jennifer explore the rapidly evolving frameworks for valuing digital assets, shedding light on the nuances and trends shaping the market. The conversation also turns to the world of Gamefi, where the opportunities and potential pitfalls in this exciting domain are discussed.

Beyond these topics, the episode also features a timely update on Solana in anticipation of the Breakpoint event, a thoughtful analysis of Van Eck’s take on Sol, and an in-depth exploration of the Unibot exploit and the integration of real-world assets on the Tron network which are now well over $1B.

Like, subscribe, and reach out to the Coinbase Institutional team for deeper insights and analysis.

Host:

Ben Floyd, Head of Execution Services

Guests:

Jennifer Murphy, Founder and CEO at Runa Digital Assets

Georg Toropov, Senior CES Salestrader

David Duong, Head of Institutional Research

Greg Sutton, Senior CES Salestrader

Sid Shekhar, Blockchain Research Manager

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Bitcoin rally mode Oct 24, 2023

Show notes

Join us for this week’s crypto podcast, featuring Paul Yablon, Founder and CIO at Room40, as a special guest.

Paul walks through the structural changes in the crypto market that have underpinned the price action over the past weeks and elaborates on reasons for the current rally.

David and Paul engage in a conversation about macroeconomic trends, inflationary vs deflationary pressures and the outlook for the US economy also discussing the idiosyncratic decoupling of crypto despite macro concerns. Paul also shares some insights on Solana, real world assets in crypto and other projects he is excited about.

Georg walks through the latest ETF news driving the price action of the last week, dealer BTC vs ETH gamma profiles and altcoin performance while Greg shares some colour on institutional interest picking up, trading volumes and flows.

Sid then concludes talking about DYDX v4, Celestia’s upcoming mainnet launch and a large sell off in Friend tech as well as the rise of competing SocialFi protocols.

Please like or subscribe if you like our content and reach out to the Coinbase institutional team if you want to get more insights!

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