According to a report in Bloomberg, India plans to ban trading in cryptocurrencies. TAKEAWAY: So, India has been sending mixed signals. It allows banks to offer services to crypto exchanges. And then leaks a possible ban on crypto exchange activity? This is worth watching because India is a potentially massive market. Even apart from the sheer size of the population, there’s the recent painful experience with demonetization and the relatively high inflation rate.
Leading crypto derivatives exchange Deribit is seeing increasing investor interest in bitcoin options that would profit from prices rallying as high as $36,000 by the end of 2020. TAKEAWAY: I’d say this is nuts, but it obviously makes sense to some people.
For those looking for more clarity as to what’s going on in crypto market infrastructure, this is your week.
- Ark Invest published, in collaboration with Coin Metrics, a paper that explores bitcoin as a monetary asset, focusing on its trading volume evolution and outlook, liquidity and the potential impact of institutional investment.
- Binance Research put out an overview of crypto market infrastructure, with a focus on the evolving role of prime brokers, and a prediction that traditional brokers will continue to move into the crypto industry.
- Deribit published a note that points out how blockchains’ relatively slow responses hinder trading opportunities, given the need to move collateral around for leveraged positions – and how custody services are evolving to solve for this.
Podcast episodes worth listening to:
- The Raw, Savage Capitalism of Open-Source Protocols – Nathaniel Whittemore, The Breakdown
- Monetary Policy Is Finished and Macro Debates Are Boring, Feat. Raoul Pal – Nathaniel Whittemore, The Breakdown
- Governments vs. Networks: The Battle for the Soul of Finance – Nathaniel Whittemore, The Breakdown
- David Kinitsky and Marco Santori (Kraken) on obtaining the first Wyoming SPDI – Nic Carter and Matt Walsh, On the Brink
- Erik Torenberg on Decentralizing Venture Capital – Anthony Pompliano, The Pomp Podcast
The original article can be found here: https://www.coindesk.com/kraken-crypto-companies-banks-evolving-together