The latest updates: a few headlines worth keeping an eye on, all laid out for you.
Crypto fund flows: A whale that had been dormant for a year withdrew a total of 1,286 $BTC from Binance in two transactions, worth about $98.11 million. The latest withdrawal was 643 BTC, worth around $48.58 million. When an old wallet suddenly moves this much, it’s worth watching where the funds go next—but don’t jump to conclusions. Meanwhile, U.S. spot $BTC ETFs saw net outflows of $430.2 million, while $ETH ETF saw net outflows of $99.9 million, pointing to weak near-term fund flows.
New ETF product: Injective’s first U.S. ETF, “INJC,” has launched on Nasdaq. BitGo will custody the spot INJ, and up to 90% of holdings can be staked, with the rewards automatically reinvested. In other words, you can buy an ETF and earn staking rewards on the side—a new approach, though its liquidity remains to be seen.
AI and tech stocks: Plato Investment believes the root cause of the AI stock sell-off is that the market is conflating technological potential with investment returns. The Nasdaq 100’s steep drop was also compounded by regulatory speculation. Aspex, a major Asian hedge fund, lost about 16% in October—one of its biggest monthly declines on record for a $14 billion fund. Also, a whale who made a well-timed bet against Google briefly earned $9.04 million in a single day and has now started closing short positions and going long: closing a CHIP short and adding to an HXSCL long. Tech stocks are volatile, so be cautious about following the crowd.
Macro and geopolitics: BofA Securities warns that if oil prices keep rising, interest rates could climb significantly. Two-year nominal interest-rate swaps are already up 113 basis points year to date. Trump says he’ll soon decide whether to strike Iran again, and a Russia-Ukraine deal may also be close, leaving plenty of geopolitical uncertainty.
AI safety: A METR survey suggests that the safety threshold for AI self-acceleration may have already been crossed this July. Anthropic issued a similar warning in its prospectus. This is a long-term issue, but one worth keeping an eye on.
Which story matters more to you: the whale’s withdrawals or ETF outflows?
Crypto fund flows: A whale that had been dormant for a year withdrew a total of 1,286 $BTC from Binance in two transactions, worth about $98.11 million. The latest withdrawal was 643 BTC, worth around $48.58 million. When an old wallet suddenly moves this much, it’s worth watching where the funds go next—but don’t jump to conclusions. Meanwhile, U.S. spot $BTC ETFs saw net outflows of $430.2 million, while $ETH ETF saw net outflows of $99.9 million, pointing to weak near-term fund flows.
New ETF product: Injective’s first U.S. ETF, “INJC,” has launched on Nasdaq. BitGo will custody the spot INJ, and up to 90% of holdings can be staked, with the rewards automatically reinvested. In other words, you can buy an ETF and earn staking rewards on the side—a new approach, though its liquidity remains to be seen.
AI and tech stocks: Plato Investment believes the root cause of the AI stock sell-off is that the market is conflating technological potential with investment returns. The Nasdaq 100’s steep drop was also compounded by regulatory speculation. Aspex, a major Asian hedge fund, lost about 16% in October—one of its biggest monthly declines on record for a $14 billion fund. Also, a whale who made a well-timed bet against Google briefly earned $9.04 million in a single day and has now started closing short positions and going long: closing a CHIP short and adding to an HXSCL long. Tech stocks are volatile, so be cautious about following the crowd.
Macro and geopolitics: BofA Securities warns that if oil prices keep rising, interest rates could climb significantly. Two-year nominal interest-rate swaps are already up 113 basis points year to date. Trump says he’ll soon decide whether to strike Iran again, and a Russia-Ukraine deal may also be close, leaving plenty of geopolitical uncertainty.
AI safety: A METR survey suggests that the safety threshold for AI self-acceleration may have already been crossed this July. Anthropic issued a similar warning in its prospectus. This is a long-term issue, but one worth keeping an eye on.
Which story matters more to you: the whale’s withdrawals or ETF outflows?