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Celestia's Roadmap: $TIA Time, or is DA a Commodity?
If you believe data availability is a commodity, that should be a death sentence for $TIA, right?...Unless Celestia finds a way to lock in those rollups, turn DA into a sticky commodity, and extract durable...
47 Min
Layer 1 / L1
Apr 2025
Crypto Commodities
With the CFTC claiming BTC, ETH, LTC, USDT, and BUSD as commodities, I wondered what the declaration...But, I am now wondering if some digital assets will trade more in line with commodities....BTC and ETH are more like commodities than securities....This leads me to believe that large-cap digital assets will begin to trade more like commodities.
2 Min
Macro & Markets
Mar 2023
Bitcoin - Back From the Future
But Bitcoin has evolved past this narrative into a digital commodity/gold where users are encouraged...The First Digital Commodities There is much debate about how digital assets fit into existing mental...Next, we will watch Bitcoin’s correlation to gold and commodities in general....At the same time, Bitcoin and commodities have little correlation at .05.
17 Min
Layer 1 / L1
May 2023
The End Game
We’ll call this period the “commodity age,” a span of time where money meant something you could touch...As money, commodities had their benefits....Commodities also served as a limiting factor on economic growth....These currencies were, in effect, claims on the underlying commodities held by the state.
38 Min
Macro & Markets
May 2023
Policy Formulation Survival Guide for Security Status
Arguments that “tokens are commodities” and thus beyond the SEC’s reach are getting louder—particularly...“four corners” theory—if the token itself doesn’t contain security-like language, then it must be a commodity...Instead of obsessing over whether a token is a security or commodity, we should be asking: What outcome...
9 Min
Policy
Apr 2025
Programmable Asset Ledgers Will Eat The World
Unlike traditional commodity markets where pricing dynamically adjusts according to supply and demand...Just as efficient markets emerged for yesterday’s commodities — oil, agriculture, metals, land — likewise..., it seems inevitable that tomorrow’s commodities — compute, energy, bandwidth, and storage — will find...
25 Min
DeFi
Mar 2025
How the GameStop Fiasco Exposed the Ultimate DeFi Bull Case
Anybody can recreate spot exposure to commodities, currencies, and stocks using a mix of Mirror Protocol...Synthetix’s current offerings include commodities (gold, silver, and oil), currencies (USD, JPY, GBP,...
9 Min
Synthetic Assets
Feb 2021
Crypto Insider Talks: The FTX Aftermath
How the liquidation process differs in conventional markets (e.g. commodities) versus crypto and the...
2 Min
Macro & Markets
Nov 2022
Liquidity Runs The World
10yr US Treasuries) and real yields Inflation expectations (measured by breakevens & forwards) Commodity...Commodity prices, borrowing costs, and the US dollar all saw huge increases on a year-over-year basis...headwinds we’ve been highlighting are also the most crowded trades, including long US dollar, long oil and commodities...
23 Min
Global Macro Themes
Aug 2022
SushiSwap Takes a Shot at Uniswap
As my partner Jose pointed out, DEXs may just be a commodity anyway with aggregators ultimately being...
3 Min
Infrastructure
Aug 2020
The Future of Onchain: The Age of Tokenization & The Token Identity Crisis
More specifically, the tokenization of private equity, securities, and commodity markets for every user...This suggests that Inkchain might be headed towards enabling on-chain trading of securities, bonds, or commodities...As of now, the ERC-20 dShares represent over 100 U.S. equities, ETFs, and commodity trusts, giving them...
20 Min
Other
May 2025
Key Takeaways: Ultimately, like Airlines, AMMs sell a commodity: liquidity....Ultimately the problem stems from the fact that seats on an airplane going to city X are commodities.
4 Min
DeFi
Aug 2020
Following the Market's Footprints: Order Flow Explained
...section, we will observe these concepts across various markets, using examples from equity futures, commodities...Commodities Example – Gold Commodities are also ripe for order-flow experimentation....The most iconic commodity market, gold, is a great testing ground for our tools.
28 Min
Financial Market Themes
Feb 2023
Range-Bound Bitcoin, Opportunity or Bull Trap? (July '21 Outlook)
Commodities, gold, emerging market equities, bitcoin are all vulnerable to a strengthening greenback,...Evidence the reflation trade is losing momentum can be seen in the recent rollover in: Commodity prices...The sugar-high seems to be wearing off and it’s starting to weigh on a wide array of cyclical assets; commodity...
13 Min
DeFi
Jul 2021
Policy Paper Series (Part 1): Reframing How We Look at a Crypto Legislative Solution
Brookings Institution Webcast on The Future of Crypto Regulation, July 25, 2022 (“Our guiding statute, the Commodity...[18] See Commodity Futures Trading Comm’n v. Ooki Dao, 3:22-cv-05416-WHO (N.D. Cal....Meaning that the proposal isn’t intended to build on top of existing bodies of law around securities or commodities...
35 Min
Policy
Mar 2023
King Dollar Isn't Dead Yet
The great in(de)flation debate, commodity prices, global growth, world exports & trade, the rebound...Further declines in the buck may also provide relief for certain emerging economies via higher commodity...
6 Min
Analytics
Jun 2020
Speculation Spillover
...result, we’ve seen major stock market indices breach new highs and inflation-sensitive assets like commodities...
6 Min
Indices
Feb 2021
Art Gobblers Find Instant Success After Halloween Launch
We cover Palley’s path to crypto law, the fallout from Gabe leaking the draft Digital Commodities Consumer...
4 Min
Art
Nov 2022
Monthly Chartbook - When It Rains, It Pours [February 2022]
...just in crypto, but everywhere, with implied volatility across global currencies, equities, rates, and commodities...We know the outlook for inflation is only getting worse, with the latest surge in commodity prices (oil...classes as implied volatility has jumped for everything from global currencies to equities to rates to commodities...
33 Min
Macro & Markets
Mar 2022
Nike's NFTs Launched Last Week Earn More Than All NFT Revenue of Other Big Brands
SEC Chairman Gary Gensler says he supports giving additional powers to the CFTC, the US commodities regulator...
4 Min
Fashion
Sep 2022