Wednesday, Feb 21, 2024

Circle leaves Tron, leading indicators, what is Dencun?

“They knew many things but had no idea why. And strangely this made them more, rather than less, certain that they were right.” – Neal Stephenson  ||    

Hi all! Google informs me that today is Nina Simone’s birthday, which inspired me to share my favourite version of one of my favourite of her songs – link at the very bottom.

You’re reading the daily premium Crypto is Macro Now newsletter, where I look at the growing overlap between the crypto and macro landscapes. There’s also usually some market commentary, but I don’t give trading ideas, and NOTHING I say is investment advice. For full disclosure, I have held the same long positions in BTC and ETH for years, and have no intention to either buy more or sell in the near future.

If you’re not a subscriber, I do hope you’ll consider becoming one! You’ll get a ~daily newsletter that goes deeper into some of the things I’m looking at, mainly how crypto fits in to the broader economic landscape, why it matters, and where this is all heading. With audio! Most days, anyway.  

I was on the Bloomberg Crypto show yesterday, talking to the always impressive Kailey Leinz and Sonali Basak – I haven’t found a clip yet, but it’s probably out there. And this morning (US time) I’m on Scott Melker’s Wolf of All Streets show, tomorrow I’ll share the link to that.

If you find this newsletter useful, would you mind hitting the ❤ button at the bottom? I’m told it boosts the distribution algorithm.

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Note: I’m speaking at BlockWorks’ upcoming Digital Asset Summit conference in London on March 18-20. Normally I say no to conferences, but this is one of the very few worth travelling for. If you’re thinking of going, it’d be great to say hi, and here’s a discount code you can use: CIMN10.

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IN THIS NEWSLETTER

• A stablecoin retreat

• What is leading about the Leading Indicator?

• Ethereum’s next upgrade: What is Dencun?

WHAT I’M WATCHING

A stablecoin retreat

Circle is discontinuing support for Tron-based USDC, following a risk assessment of the network.

This may seem like big news, but it’s actually trivial, not a surprise, and probably a smart move.