Capital is flooding into digital assets at a record pace this year, according to Wall Street bank JPMorgan (JPM), marking a sharp contrast with declining flows into private equity and private credit markets. JPMorgan estimates that net capital inflows into digital assets have hit $60 billion year-to-date, a nearly 50% jump since the firm’s last
US President Donald Trump has taken the pressure on Fed Chair Jerome Powell, whom he has long criticized, hinted at impeachment, and called for his resignation, a step further. Trump will make a surprise visit to the Fed today. Details of the visit are being kept under wraps, and it’s not yet known whether there
Cryptocurrency investor and Asymmetric Financial founder Joe McCann announced that he has decided to close the Asymmetric Liquid Alpha Fund due to intense investor backlash following the company’s 78% year-to-date loss. This development comes just after McCann recently announced plans to establish a $1 billion treasury fund for the Solana ecosystem. The fund has already
Treasury Secretary Bessent indicated that one or two interest rate cuts are possible this year. He also said he has breakfast with Fed Chair Jerome Powell almost every week. Meanwhile, it’s worth noting that President Donald Trump pressured Powell to cut interest rates last month, citing rising federal debt costs. However, according to an analysis
MultiBank Group’s digital asset division partnered with Fireblocks to bring $10 billion in real estate on chain. Summary MultiBank.io launched a real estate tokenization platform Fireblocks will provide custody, Mavryk blockchain infrastructure Platform aims to tokenize $10B in real estate assets. Companies are increasingly competing to dominate real-world assets. On Wednesday, July 23, MultiBank.io, the
In his latest interview, US Treasury Secretary Scott Bessent shared his views on the new trade agreement with Japan, relations with China, and the Fed. Bessent announced details of the trade agreement with Japan. The agreement will implement a new 15% tariff on automobiles and will see Japan create an innovative financing mechanism to provide
Coinbase co-founder Fred Ehrsam, who launched a brain interface startup last year, announced on Tuesday that the new project, dubbed Nudge, has raised $100 million from two venture firms, Thrive Capital and Greenoaks Capital Partners. Several angel investors also participated in the Series A fundraise. Nudge launched its first product earlier this year, the Nudge
Key Takeaways JPMorgan disagrees with the US Treasury’s prediction that the stablecoin market will reach $2 trillion by 2028. USDT and USDC account for over 60% of the current stablecoin market, which JPMorgan expects to only double or triple in size. JPMorgan isn’t buying into the $2 trillion stablecoin hype. Despite growing political and institutional
Crypto hedge fund Asymmetric Financial is pivoting away from liquid trading strategies following sharp underperformance and public backlash from investors. In a post shared on X Wednesday, CEO Joe McCann acknowledged that the fund’s current approach “is no longer serving our LPs” and confirmed that Asymmetric will begin transitioning capital away from liquid trading into
US-based publicly traded pharmaceutical company MEI Pharma has raised $100 million in private equity capital, adopting a new corporate strategy focused on Litecoin (LTC). The company sold 29,239,767 shares at $3.42 per share, raising a total of approximately $100 million. Litecoin Foundation founder Charlie Lee led this private equity raise and was joined in the