...the ~2.0 Macro Beta Benchmark Bitcoin has consistently exhibited a macro beta near 2.0x versus major equity...is exaggerated relative to broader markets, we examine its historical beta relationship with major equity...Importantly, the recent BTC decline (Aug 13-18) appears elevated relative to equity market softness,...

Meanwhile, crypto-aligned equities – anchored in audited revenues and enforceable ownership rights are...UNI holders, meanwhile, would have no legal recourse and no equity linkage....Will protocols start dual-tracking equity and tokens?...Equities offer that....If we abandon tokens altogether, we might as well just be trading traditional equities.

These are public crypto accumulators: companies that use equity, debt, and reflexive investor demand...These firms are capital structure optimizers: using equity issuance, debt instruments, and reflexive...As crypto holdings rise, equity/debt demand grows, which enables further accumulation.

A pivotal change is the resurgence of crypto IPOs, steering dynamics toward equity structures with clear...Recently, a shift back toward pure equity has emerged post-Circle’s IPO....The most notable year-over-year delta is in the growth in equity/token mixed rounds, rising from 3-6%...Implications for Secondary Markets: Are Equity Deals Poised To Dominate?

More specifically, the tokenization of private equity, securities, and commodity markets for every user...As of now, the ERC-20 dShares represent over 100 U.S. equities, ETFs, and commodity trusts, giving them...-listed equities for broker-dealers....The argument then is that Uniswap Equity would be worth more fundamentally than the $UNI token.

Markets wasted little time, retracing the initial move in oil, with both equities and crypto pushing...Crypto related equities like Coinbase, Robinhood and Galaxy (among others) have performed admirably in...Circle’s massively successful foray into public equity markets has also shown that investors are hungry...

A 70% loan-to-value ratio gives a 30% equity cushion to lenders....An equity cushion shields the lender from default....A larger equity cushion increases the likelihood that a lender can recover their funds by selling the...Amortization pays off the loan over time, growing the equity cushion and reducing default risk.

Powell’s Hawkish Comments Spark Volatility US equity markets opened higher today, recovering from yesterday...quicker, the slowdown in global liquidity growth contributes to a somewhat negative outlook for both the equity...Powell’s Hawkish Comments Spark Volatility US equity markets opened higher today, recovering from yesterday...

...trillion in AUM — and nearly half its portfolio is allocated to foreign assets, with 25% in foreign equities...US equity markets, a direct beneficiary of this carry trade, have also taken a beating....For perspective, this recent meltdown saw equity market volatility jump to levels last seen during the...Heightened volatility wasn’t isolated to equity markets either.

...center REITs’ valuations at 25x EBITDA imply ~$43B of enterprise value at $1.7B of EBITDA, and ~$32B of equity...Not only does this result in Galaxy possessing the adequate capital to fund the equity portion of its...engages in involve coordination and negotiation across a variety of counterparties (i.e. credit and equity...

...assets a lift – the DXY peaked at the same time the SPX bottomed last year.Similarly, the recovery in equities...While some question the signal of the equity put-call ratio, large spikes also occurred around previous...for bulls who believe this market may have more room to run.Similarly, the short-term outlook for US equities...

...expected, the subsequent scaling back of tariff policy and de-escalation has spurred a market rally — both equity...Unlike prior cycles, these holdings were not financed from excess cash but through dedicated equity and...The result is a new category of public equities functioning as crypto-linked proxies.

They drive fluctuations in global equities… And have a strong impact on the largest equity market in...They influence the direction of global equity markets....Assuming the two remain positively correlated, the next question is what’s next for equities?...The vast majority of this year’s decline in equity markets can be attributed to multiple compression...

Equities appear to be on the verge of another major test, and so far, there has not been enough evidence...As we noted, the correlation between crypto and growth equities still remains high....Historically, equities tend to see sizeable drawdowns during recessions....For the sellers, there’s still one sizable cohort that hasn’t capitulated on equities yet, and that’s...

Through their analysis of equity markets, GK found equity markets to be surprisingly inelastic....The mixed fund operates with a 20/80 fixed income/equity split (20% fixed income, 80% equity)....Put simply, if investor inflows into the stock market were 1% of the total market value of equities,...

Today, major US equity benchmarks are within a whisker of breaking to new all-time highs....It tracks major equity benchmarks (e.g....To fully appreciate this impact, it is crucial to understand the role of ETFs in equity markets, the...In 2000, only 12% of equity assets were in passive funds, compared to about 50% by 2020.

We know the equity market exhibits an extremely strong correlation with Fed liquidity, so it’s no surprise...fiat currencies, but it has proven true relative to harder assets like BTC, gold, and even some growth equities...Strong equities in good markets tend to perform decently well, too.

Major equity benchmarks also exhibit a strong positive correlation with Fed liquidity....This is no surprise, as equities and crypto both benefit from currency debasement....We note this because some have pointed to the decoupling of crypto and equities as evidence that crypto...

...was because Coin went public and it sucked out 10s of billions of dollars of crypto capital into an equity...So you need that bull market to be able to allocate that equity capital between MicroStrategies, Coinbase...They’re proving the value accrues to the equity and not the token....And this is this big unknown, is where the equities and tokens fit together.