The Big Analysis
Key points * The company has made historic profits, with around $10bn already in the first three quarters of the year ($4.3bn in Q3). * Tether is strengthening its balance sheet by sharply increasing the proportion of secured loans (+44% quarter-on-quarter) and gold in its reserves. * The fall in
The Big Analysis
Tokenisation is moving ahead at high speed. After stablecoins, it is now spreading to equities, bonds and even stock market indices. The S&P 500, buoyed by all-time highs, is becoming one of the new grounds for on-chain experimentation. But one issue is emerging: are all tokenised
The Big Analysis
Tokenisation is moving ahead at high speed. After stablecoins, it is now spreading to equities, bonds and even stock market indices. The S&P 500, buoyed by all-time highs, is becoming one of the new grounds for on-chain experimentation. But one issue is emerging: are all tokenised
The Big Analysis
In brief * Bitcoin has lost more than 20% since its ATH, technically entering a bear market. * Two possible paths: a short correction or a full-blown post-halving bear market. * The macro context works in the opposite direction, however: monetary tightening is over, limiting the risk of a prolonged cycle.
The Big Analysis
Switzerland likes discretion, especially when it comes to its finances. But behind the hushed tone and stated neutrality of the Swiss National Bank (SNB), a bold move seems to be taking shape: that of exposure, albeit indirect, but very real to Bitcoin. For several months, a debate has been running
The Big Analysis
The party seems to be over, for a while at least. In the space of a few weeks, Bitcoin has lost more than 20% of its value, falling below the symbolic $100,000 mark in early November before stabilising at around $105,000. Ethereum and Solana have suffered even more,
The Big Analysis
This analysis was carried out in collaboration with Castle Labs. Introduction Digital Asset Treasuries (DATs) - or digital asset treasuries - have become an increasingly popular mechanism for attracting interest from traditional finance (TradFi) into major crypto-assets such as Bitcoin (BTC) and Ethereum (ETH). We are now seeing a wave of
The Big Analysis
Artificial intelligence agents are gradually emerging as a new category of autonomous actors capable of interacting with the real world. These digital entities, equipped with reasoning, memory and access to external data, can search, book, pay or perform complex tasks without direct human intervention. Through the integration of digital wallets,
The Big Analysis
After years of preparation and collaboration with European regulators, Lise has become the first French player authorised to operate a DLT TSS system (pilot regime). This licence, granted under the European pilot regime (DLTPR), allows Lise to combine the functions of multilateral trading facility (MTF) and central securities depository (CSD)
The Big Analysis
Speakers * Emma Lovett, Markets DLT & Executive Director at JPMorgan Chase * Michael Bentley, Cofounder & CEO at Euler Labs * Bilal El Alamy, Cofounder & CEO at Zaïffer DeFi vs TradFi: A Hybrid Future * "Full automation is a myth." Real-world assets need manual pricing and liquidity; a hybrid
The Big Analysis
The third quarter continued the rebound seen at the end of the second quarter, marked first by the US tariff tantrum and then by the market rally following the announcement of a 90-day trade truce. Against this backdrop, risky assets performed exceptionally well: Bitcoin and Ethereum hit new all-
The Big Analysis
Pump.fun has established itself as one of the most controversial projects in the ecosystem. For some, it is nothing more than a digital casino, a pure speculation engine that feeds the most conspicuous excesses of crypto. For others, on the contrary, it is an example of a simple, viral