MARKETS DAILY: Crypto Update | Is Coinbase's Influence in the Bitcoin ETF Market Cause for Concern?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 21 March 2024
⏱️ 13 minutes
🧾️ Download transcript
Summary
Recent price movements of Bitcoin and Ether with insights from Helene Braun and Lumida CEO, Ram Ahluwalia.
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On "Markets Daily," Ram Ahluwalia, CEO, and co-founder of Lumida joins the conversation, discussing various market updates. Topics range from the price action of Bitcoin and Ether, the Fed's rate cut expectations, and the SEC's classification of Ether to insights on Coinbase, crypto ETFs, decentralization, custody services, Dogecoin, Coinbase's futures filing, and Michael Saylor's Bitcoin holdings.
Takeaways |
- Bitcoin and Ether experienced significant price increases driven by the Fed's dovish remarks.
- The SEC's classification of Ether as a security remains uncertain, but the recent Dencun upgrade has led to increased scrutiny.
- Coinbase's dominance in the Bitcoin ETF market raises concerns about centralization.
- Decentralization in custody services is hindered by regulatory policies that make it difficult for banks to engage with crypto assets.
- The future of Dogecoin as an asset and the approval of Ethereum futures by the CFTC are still uncertain.
- Michael Saylor's large Bitcoin holdings and MicroStrategy's strategy of issuing convertible debt notes to buy more Bitcoin have created a strong bid in the market.
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This episode was hosted by Helene Braun. “Markets Daily” is produced and edited by senior producer Michele Musso, and executive producer Jared Schwartz alongside Senior Booker, Melissa Montañez—all original music by Doc Blust and Colin Mealey.
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Transcript
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| 0:49.7 | SEC's approach to crypto policies been unfortunate unfortunate and there's a lack of clarity. |
| 0:55.4 | And Congressman Patrick McHenry asked Chair Gensler directly, is Ethereum a security? |
| 1:00.8 | And that was not answered. |
| 1:02.1 | And at the same time, the market's being told that there's clarity and come in and register. |
| 1:06.0 | The fact that we have to guess this means that we need better policy and more clarity. |
| 1:15.4 | Yeah. have to guess this means that we need better policy and more clarity. It's Thursday, March 21st, 2024, and this is Markets Daily, a show where we get into the |
| 1:22.3 | minds of the smartest and most experienced investors, traders, and analysts. I'm Helene Braun, markets reporter at CoinDest, and before we get to our amazing guests today, |
| 1:32.5 | let's have a quick look at what the market is doing. |
| 1:35.8 | Both Bitcoin and Ether are rallying this morning after yesterday's dovetish remarks by the Fed, |
| 1:41.4 | which we'll get to in a minute. |
| 1:43.4 | According to Coinest indices at 8 a.m. Eastern |
| 1:46.0 | time, Bitcoin was up a little over 6% over the past 24 hours, currently trading at $67,067. |
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