The Big Talk
You've just closed a $90 million Series B led by NEA. What do your investors see in Spiko that a traditional asset manager can't offer? Our products are cash funds: money market funds, or equivalents like the fund we launched with Amundi six months ago, where
The Big Analysis
Bitcoin trades near $86,000, up about 1.75% from the previous weekly open. It did so in a week when the US dollar index (DXY), which tracks the dollar against six major currencies, rose roughly 1% to 102.1. The S&P 500 finished flat at +0.02%
The Big Analysis
On 30 September, MetaMask disclosed a security incident affecting part of its infrastructure and said it had found no immediate threat to MetaMask wallets. The exploit itself was small. An attacker redirected the tips from 18 blocks produced by MetaMask Staking validators to a wallet funded through Tornado Cash, according
The Big Analysis
Bitcoin ended last week near $83,000, after printing $87,363 at Tuesday's high. It was up roughly 8% on the week at that high, and finished up 2.38%. The quarter closes around +43.5% from a late-June base near $58,500, still about a third
The Big Analysis
Morpho Blue carries $10.86bn of TVL against $5.29bn borrowed, a utilisation of roughly 49% across the protocol. DefiLlama's headline TVL for this protocol is supplied liquidity. Adding borrowed amounts produces a deposit-plus-debt stock nearer $16.15bn. That is a different perimeter, not a second
The Big Analysis
Digital assets finished last week higher and extended the move into Monday. Bitcoin and Ether are both up about 9% week over week. Bitcoin is back above $80,000 and printed through $84,000, last seen in January. The rest of the market, excluding Bitcoin and stablecoins, outran the majors
The Big Analysis
Three policy events landed inside seventy-two hours this week. The order in which they arrived matters more than any one of them. Tuesday: the legislative route narrows to almost nothing The US Senate failed to advance the Digital Asset Market CLARITY Act, the bill that would have set a
The Big Talk
Steakhouse describes itself as the largest independent vault curator. What does a curator actually do, for a reader who comes from traditional finance and has never touched DeFi? Fundamentally, we connect stablecoin savers to stablecoin borrowers, in a non-custodial and risk-transparent way. That's the whole thing.
The Big Analysis
Circle opens Arc, its own Layer-1, to the public on 16 September. Eleven institutions secure the chain alongside it: BlackRock, DTCC, Galaxy, Global Payments, ICE, Mastercard, MoneyGram, SBI, Standard Chartered, Sumitomo and Visa. Not a crypto-native cohort, but settlement and card infrastructure taking a position in a public
The Big Analysis
AMC's public row with Robinhood last week has been well covered. Less attention has gone to what it exposed. When an issuer finds instruments bearing its name trading without its consent, and has no mechanism to stop it, the question is no longer about blockchain performance or liquidity.
The Big Analysis
The front end is where these funds live, and the distinction matters more than it sounds. A tokenised money market fund holds Treasury bills and collateralised repo. Its income follows the policy rate, not the term premium. Thirty-year yields have dominated the summer headlines, and Japan's 30-
The Big Analysis
A regulated payment-stablecoin issuer is a narrow bank that cannot pay for its liabilities. GENIUS and MiCA require one-for-one cash and short government paper, and bar the issuer from rebating that coupon to holders. The P&L is the spread between the front-end rate and