Coinbase Markets Podcast

Latest Episodes:

Electronic Execution Tools + Macro Updates Aug 09, 2023

Show notes

This week we welcome a special guest, Rick Schonberg, Product Director for Coinbase’s institutional platform, to talk about exciting developments to Coinbase Prime’s algo offering. Georg gives a market update, discussing recent alt coin movers and Tether trading dynamics. David shares his views on the economy both in the U.S. and abroad, and the implications this has for the crypto market. Trish walks through flows and divergent seasonality aspects to consider for crypto relative traditional markets. Lastly Sid gives a Curve update and shares some opening metrics for the launch of Base mainnet.

Host

Josh Pak, Senior CES Salestrader

Panelists

Georg Toropov, Senior CES Salestrader
David Duong, Head of Institutional Research
Trishul Luhar, Senior CES Salestrader
Sid Shekar, Blockchain Research Manager

Link to Research and Insights Hub

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The Curve Exploit Aug 01, 2023

Show notes

This week the team covers the CRV exploit, what a reentrancy attack is, and what the exploit means for DeFi and liquidity. George also touches on the Base launch and the movers from last week. David reviews what were learned from central banks, USD strength, and crypto correlations. Trish takes us through flows with a focus on retail. He also provides insight into institutional client sentiment heading into late summer

Host

Greg Sutton, Senior CES Salestrader

Presenters

Georg Toropov, Senior CES Salestrader
David Duong, Head of Institutional Research
Trishul Luhar, Senior CES Salestrader
Sid Shekar, Blockchain Research Manager

Link to Research and Insights Hub

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The state of crypto venture capital Jul 25, 2023

Show notes

Ryan Yi from Coinbase Ventures starts us off with an overview of Coinbase Ventures, delving into the current venture funding environment and discussing recent improvements to builder ecosystems, user experience, and utility in the crypto space.

Georg shares updates on the reduced BTC dominance offshore, the launch of Worldcoin, and developments in the XRP case.

David offers a comprehensive summary of major macro events this week, including updates from the Fed, ECB, BOJ, and others. He also highlights key takeaways from EthCC, covering discussions on Coinbase’s Cafe, Vitalik's insights on account abstraction, and Justin Drake's thoughts on MEV burn as well as decentralized sequencers, DVT, and zk proofs.

Greg shares insights on institutional flows, the options market, and his thoughts on positioning in the current market, offering valuable perspectives for investors and traders.

Tammy explores the potential applications of blockchain and AI/ML, focusing on the intriguing combination of zero-knowledge proofs (ZK) and AI. She discusses how these technologies could revolutionize various industries, presenting exciting opportunities for innovation.

Host

Ben Floyd, Head of Execution Services

Special Guest

Ryan Yi, Coinbase Ventures

Presenters

Georg Toropov, Senior CES Salestrader
David Duong, Head of Institutional Research
Greg Sutton, Senior CES Salestrader
Tammy Yang, Senior Blockchain Researcher

Link to Research and Insights Hub

https://www.coinbase.com/institutional/research-insights

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Ripple's ripples + the ETF process Jul 18, 2023

Show notes

Welcome to this week’s podcast, where our expert panel dives into a wide range of topics shaping the crypto landscape.

This week, Special guest Jordan Salberg, Senior Counsel, Product kicks off the discussion by providing insights on the recent XRP ruling, what that means for the industry and other assets. He also updates us on the ongoing ETF process and what we should be looking out for in the coming weeks.

Georg delves into fund inflows and outperformance of certain alt coins. He also covers BTC/ETH dominance trends, his thoughts on the pull back towards the end of the week and some of the recent positive comments.

David focuses on recent inflation print, discussing their implications for the broader economy. He also provides insights on the upcoming Fed meeting and the latest economic data from China, offering a comprehensive macroeconomic perspective.

Greg takes a closer look at market flows, analyzing the impact of the recent summary judgment on market dynamics. He also explores the options markets, providing valuable insights into trading trends and also his perspective on the pull back.

Tammy Yang, a Senior Blockchain Researcher steps in for Sid, providing an update on custodial and non-custodial stablecoins. She highlights the recent launch of Gho by Aave and offers insights into the evolving landscape of stablecoin solutions.

Please, don’t forget to like and subscribe so others can benefit from the team’s great content!

Host

Ben Floyd, Head of Execution Services

Special Guest

Jordan Salberg, Senior Counsel, Product

Presenters

Georg Toropov, Senior CES Salestrader
David Duong, Head of Institutional Research
Greg Sutton, Senior CES Salestrader
Tammy Yang, Senior Blockchain Researcher

Link to Research and Insights Hub

https://www.coinbase.com/institutional/research-insights

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Crypto ETFs, Basis, NFTs, and the Multichain Hack Jul 11, 2023

Show notes

This week, our Special Guest, Brian Foster takes the lead, exploring the significance of the recent ETF applications, Coinbase’s role in this space, and explains the surveillance sharing aspect. He dives into why now is an opportune time for ETFs and discusses their relation to other ways of accessing bitcoin and crypto, including Coinbase’s own retail business.

Josh provides a market update, covering the biggest movers and the latest trends in NFT floors. He also discusses BTCs positive dynamics, the Binance.US discount, DCG-related news, and developments in the Polygon and Arbitrum ecosystems.

David covers important upcoming economic indicators such as CPI, PPI, and earnings reports from notable institutions like JPM and Citi. He also runs through the Cancun upgrade roadmap and the recent progress of L2 scaling solutions.

Greg analyzes flows and volatility, sharing insights on BTC and ETH basis. He also discusses the recent trends in the Bored Ape NFT market.

Sid addresses recent multichain hacks, providing analysis and insights into their impact on the crypto landscape and looks forward to EthCC in Paris next week.

Please, don’t forget to like and subscribe so others can benefit from the team’s great content!

Host

Ben Floyd, Head of Execution Services

Special Guest

Brian Foster, Director Americas Institutional Sales

Presenters

Joshua Pak, CES Salestrader
David Duong, Head of Institutional Research
Greg Sutton, Senior CES Salestrader
Sid Shekar, Engineering Manager

Link to Research and Insights Hub

https://www.coinbase.com/institutional/research-insights

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Dissecting ETH's Surprising Underperformance Jun 28, 2023

Show notes

Join us for this week’s podcast where we cover recent market events in digital assets. Our trading team walks through token fundamentals and the surprising relative underperformance in ETH. We also discuss interesting flows, BTC dominance, and the somewhat unexpected alt-coin inflows seen on the desk in the last week. David walks through recent Central Bank policy updates and key takeaways from today’s ECB forum and the impact we could expect to see in liquidity conditions. Lastly, Sid, chats all things NFTs and walks through key indicators to assess market demand.

Watch the video or listen to the podcast on Spotify, Apple, or Audible.

Please RSVP to attend Coinbase Institutional’s exclusive web-event with Justin Drake from the Ethereum Foundation at https://ethereumupgradesandeconomics.splashthat.com/.

Link to Research and Insights Hub: https://www.coinbase.com/institutional/research-insights.

Host

Josh Pak, CES Salestrader

Presenters

Georg Toropov, Senior CES Salestrader
David Duong, Head of Institutional Research
Trishul Luhar, Senior CES Salestrader
Sid Shekar, Blockchain Research Manager

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A tougher macro backdrop, but improving seasonality Jun 20, 2023

Show notes

Join us for this week’s podcast where we cover recent events in the digital asset space. Our trading team discusses USDT and recent revelations around its past portfolio composition. We also explain how the Curve 3 Pool works and how the recent USDT imbalance can create arbitrage opportunities. David Duong, our Head of Research, takes us through the recent FOMC meeting and what it means for the macro backdrop as we head into summer. We also discuss perp funding rates, option skew, and improving seasonality trends. Lastly, Sid, our Senior Blockchain Researcher, talks opBNB and OP.

Host

Ben Floyd, Head of Execution Services

Presenters

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

Link to Research and Insights Hub

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Liquidity trends in crypto markets Jun 13, 2023

Show notes

Join the Coinbase Institutional team where our expert panel discusses a wide range of topics shaping the crypto landscape.

Georg kicks off the discussion, sharing insights on the dominance of ETH and BTC and the recent price movements. Diving into details around the distribution of liquidity, he covers offshore volumes, DEX volumes, and the growth in USDT, providing valuable analysis on the dynamics of these key aspects in the crypto market.

David delves into key regulatory updates, including the release of the Hinman papers and the US House financial services draft legislation that outlines some potential paths for digital assets. He also provides insights on the CPI release and the upcoming Fed announcements.

Greg explores investor behavior around the recent market movements, analyzing volatility, changes in open interest, specific funding rates on tokens, and the impact of client flows on market dynamics.

Sid concludes the podcast by discussing the release of Uniswap V4, sharing his initial impressions. He also provides updates on the OP Bedrock upgrade, a significant development in the Web3 ecosystem.

Please, don’t forget to like and subscribe so others can benefit from the team’s great content!

Host

Ben Floyd, Head of Execution Services

Presenters

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

Link to Research and Insights Hub

https://www.coinbase.com/institutional/research-insights

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

AI X Crypto Jun 06, 2023

Show notes

Join us for this week's podcast with insights and analysis on a range of topics impacting the digital asset space. Josh covers the latest market movers and the exciting intersection of AI with crypto, providing valuable insights into emerging trends and developments. Greg delves into macro analysis, exploring key insights and dates to watch out for. He also comments on market flows and crypto's recent volatility dynamics. Sid discusses the remarkable growth of the ETH staking queue and its implications, along with the latest developments in Web3, including a proposal for fees in Uniswap transactions.

Mentioned in this recording: Patience is beautiful: https://cryptohayes.substack.com/p/patience-is-beautiful.

Host -

Ben Floyd, head of execution services

Panelists -

Josh Pak, CES sales trader
Greg Sutton, Senior CES sales trader
Sid Shekhar, Blockchain research manager

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Understanding Crypto Volatility May 30, 2023

Show notes

In this week’s podcast, our special guest, Usman Naeem, who leads our derivative and agency trading businesses, shares his unique insights on navigating the crypto ecosystem’s volatility markets, shedding light on a market that can be challenging to understand. He runs through the recent changes in implied vs realised vol and how the skew and term structures has evolved recently and some thoughts on how people could think about trading vol here.

Georg will then take the stage to provide a comprehensive market update, covering recent price action over the weekend, key technical indicators, and notable news.

David leads us through the macro landscape, including discussions on the debt ceiling and the Non-Farm Payrolls (NFP) report for the week. Greg dives into exchange flows and desk activities, exploring the latest trends and dynamics.

To wrap up the call, Sid will delve into the exciting developments in Web3, touching upon a governance related exploit to Tornado Cash and his thoughts on Vitalik’s blog post about utilising Ethereum’s security for 3rd party protocols.

Join us for an informative and thought-provoking discussion as we cover crypto volatility, market updates, macro insights, exchange flows, and the fascinating world of Web3.

Remember to subscribe and rate us if you find our discussions valuable.

Host