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Bitcoin Falls on Macro Pressure, MSCI Index Battle & RWA Momentum | Aug 13
Audio is available on Spreaker — see link below.
Bitcoin dropped to $62,600 as rising oil prices and Treasury yields crushed any crypto rally despite soft inflation data — here's what it means for your portfolio. Today's briefing also covers Strategy's MSCI index fight, Cardano's tokenized silver launch, SEC delays on tokenized securities, Kraken's margin collapse, and more.
Audio is available on Spreaker — see link below.
Soft inflation data just came in, precious metals rallied, and Bitcoin fell anyway. That's the clearest signal of where crypto stands right now in the macro picture.
One of the more consequential stories running in parallel involves Strategy, the company formerly known as MicroStrategy, and a proposal from MSCI to exclude so-called non-operating companies from certain indices due to unconventional asset holdings. Strategy pushed back publicly, arguing that index providers should measure markets, not dictate what companies can own.
While macro conditions weigh on prices, the infrastructure buildout across the space continues moving forward. On Cardano, a tokenized silver product called TSLVR launched on mainnet through the L4VA Protocol.
The SEC postponed rules that would have made tokenized securities easier to trade institutionally. Both the White House and Wall Street raised concerns about legal footing and market impact.
On Cardano's governance side, founder Charles Hoskinson formally endorsed AlphaGrowth and Draper Dragon as functional replacements for EMURGO's commercial role. EMURGO had already stepped back from multiple governance structures following a two point four million dollar exploit at its SecondFi project.
Kraken parent Payward posted second-quarter revenue of five hundred and eight million dollars, up seventeen percent year over year. Adjusted EBITDA collapsed to twenty-three million from eighty million in the same period last year.
The real watchpoints going forward are narrow. First, whether macro conditions shift enough to let Bitcoin decouple from broader risk-off pressure.
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