MARKETS DAILY: Crypto Update | Crypto in the Red While U.S. Stocks Open Strong, With Host Noelle Acheson
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 11 September 2023
⏱️ 9 minutes
🧾️ Download transcript
Summary
Noelle Acheson, author of the Crypto is Macro Now newsletter and former head of research at CoinDesk, provides market insights and updates about the G20 summit.
Today's episode is sponsored by Kraken Pro.
Today’s Stories:
Coinbase CEO on company's next steps, why crypto will be a 'hot topic' in 2024 WH race
https://twitter.com/GitaGopinath/status/1700728105290321941?s=20
IMF-FSB Synthesis Paper: Policies for Crypto-Assets - Financial Stability Board
India Will Decide on Its Crypto Stance in Coming Months
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Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the cryptoasset markets can lead to loss of funds and profits may be subject to capital gains tax.
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This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. All original music by Doc Blust and Colin Mealey.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
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| 0:00.0 | This episode of Markets Daily is sponsored by Cracken. |
| 0:08.1 | It's Monday, September 11th, 20203, and this is Markets Daily from Coin Desk. |
| 0:14.4 | I'm Noelle Atchison, and I'll be hosting the Coin Desk Markets Daily podcast going forward, delivering a daily dose of market news and insight. On today's show, |
| 0:23.0 | we're talking about the G20, India, a new type of stable coin, and more. Some of you may know me from |
| 0:33.5 | the Crypto's Macro Now newsletter I write on Substack. Before focusing on the growing overlap |
| 0:38.5 | between the crypto and macro landscapes, I was head of research at Genesis Trading, and before that, |
| 0:44.1 | I was head of research at Coindesk. Yes, I'm a former coin desker, and I'm excited to be back in |
| 0:49.2 | the fold to bring you the latest in trends and signals. I tend to focus on big picture narratives and |
| 0:54.6 | sentiment shifts as well as news items that signpost the direction of crypto market development |
| 0:59.3 | around the world. I'm looking forward to being on this journey with you. To make sure you don't |
| 1:04.9 | miss an episode, be sure to follow the podcast on your platform of choice. Now, a markets roundup. |
| 1:11.6 | Today is a red day for crypto assets, with some tokens such as Arbitrum down over 10%, |
| 1:17.6 | and others such as Ripple's XRP and Cosmos' atom, down around 5% over the past 24 hours, according to CoinDesk indices. |
| 1:26.6 | Bitcoin is faring better than virtually all of its peers, |
| 1:29.6 | although at 10.30 a.m. Eastern time, it was still trading down 1.6% over the past 24 hours at $25,369. |
| 1:39.3 | At the same time, Ether was down 2.8%, trading at $1,578 and $82. |
| 1:47.6 | In the absence of any clear catalyst, it seems that traders are wary of the potential hit |
| 1:52.5 | to macro sentiment should this week's inflation data come in stronger than expected. |
| 1:57.3 | The consensus forecast, according to Investing.com, is for the headline month-on-month CPI to come in at 0.6% for August versus a 0.2% increase in July. |
| 2:08.4 | The Federal Reserve Bank of Cleveland's inflation nowcast, which predicts the short-term inflation reading according to a model of economic data, has the August headline CPI increasing |
| 2:18.5 | by almost 0.8% month on month. The sharp jump in oil prices earlier today, more on this in a minute, |
| 2:26.2 | didn't help sentiment. In contrast to the crypto markets, US stocks appear to be opening strong |
... |
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