Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Julius Wong who wrote (171144)	4/29/2021 11:57:44 PM
From: TobagoJack	Respond to of 217650

Re <<Not Just The Doge Army, Those Minting Dogecoin Have Struck Gold With The 6,600% Rise Of Shiba Inu Too>> Bullish ... more upside for BTC, ETH, DOGE, as well as Shiba Inu bloomberg.com U.S. Sells Debt at 0% Yield for First Time Since Early Pandemic Alex Harris 30 April 2021, 03:03 GMT+8 The Treasury’s bill auctions Thursday drew the lowest yield in more than a year as an excess of cash in front-end of fixed-income markets kept borrowing costs anchored near zero. The U.S. government’s $40 billion sale of four-week bills on Thursday went off with a yield of 0%, the first time that has happened since March 2020, in the early months of the coronavirus pandemic. The Treasury also sold $40 billion of eight-week bills at 0.01%. Existing rules prevent issuing debt with negative yields at auction. The four-week sale last came in at that level when anxious investors were pouring cash into money-market funds. Fast forward to this year and rates on Treasury bills have been under pressure with the government reducing issuance of short-term securities to draw down its mammoth cash balance so it can comply with a possible debt-ceiling reinstatement and to cover expenses. “Given the outlook for bill supply, zero percent stops are going to be the norm going forward,” Jefferies economist Thomas Simons wrote in a note to clients. The rate on overnight general-collateral repurchase agreements remains cemented at zero, while yields on Treasury bills maturing in three months or less range from minus 0.018% to plus 0.01%. As a result, participation in the Federal Reserve’s facility for overnight reverse repurchase agreements is surging to the highest levels in more than a year. Pressure on secured rates also spilled over to unsecured benchmarks, with the Overnight Bank Funding Rate dropping 1 basis point to 0.05% as of April 28, according to New York Fed data released Thursday. Still, Fed policy makers have yet to make adjustments to benchmarks they use to control short-term funding costs. Chairman Jerome Powell said Wednesday the effective fed funds rate -- the bank’s key target -- remains within the 0% to 0.25% range and “money market conditions are fine,” while acknowledging there’s room for further downward pressure. Bill PaydownsIn its survey of dealers ahead of the refunding announcement on May 5, the Treasury asked about “the impacts that reinstatement of the debt limit could have on the Treasury market as well as on broader financial markets.” Related to that, it also sought comment on expectations for bill supply over the next three months and adjustments in issuance. Under current law, the Treasury’s cash balance must return to around $130 billion by July 30, the level where it was when the borrowing limit was suspended. It’s currently at $959 billion, and to close the gap it has to reduce debt in addition to covering the recent pandemic stimulus payouts. And that means downward pressure on short-term rates isn’t likely to ease anytime soon. Read more: Scale of T-Bill Drought Hinges on Biden Rescue, Income-Tax Haul The Treasury has paid down about $415 billion of T-bills this year. Credit Suisse estimates about another $500 billion in paydowns may be needed, while TD Securities strategists believe Treasury will need to trim supply by another $300 billion to $400 billion by the end of July. “This means more pain for money fund investors,” said TD Securities strategist Gennadiy Goldberg. “The fear that there won’t be enough product for investors tomorrow is what is driving front-end rates lower.” Before it's here, it's on the Bloomberg Terminal. LEARN MORE

To: Julius Wong who wrote (171144)	4/30/2021 9:25:38 AM
From: TobagoJack	Read Replies (1) \| Respond to of 217650

Gobble gobble Morning snack Wonder when and if COIN will invade the real universe financial-scape decrypt.co Coinbase To Acquire Crypto Data Service Skew It’s Coinbase’s first big acquisition since going public. By Will Gottsegen and Scott Chipolina In briefCoinbase is acquiring Skew, a crypto data and analytics platform.It’s part of a string of recent acquisitions. Coinbase, the largest cryptocurrency exchange in the US, is acquiring the London-based data and analytics startup Skew. The acquisition, announced today, will allow Coinbase to provide real-time data to institutional investors. Skew was founded in 2018 by Emmanuel Goh and Tim Noat. It offers market data and charts tailored to crypto traders—it’s a little like Messari or TradingView. In an email to Decrypt, a spokesperson for Coinbase said that skewAnalytics—one of Skew’s data offerings—would be integrated into Coinbase Prime, the company's platform for institutional investors. When asked if this meant that current Skew subscribers would gain access to Coinbase Prime, or if skewAnalytics would live on as an independent product, the spokesperson said all of that is still "TBD." “Through this acquisition, Coinbase reinforces our commitment to serving the growing institutional market,” Greg Tusar, Coinbase's vice president of institutional product, said in a statement. “We know that access to high quality data is essential for institutions assessing investments in crypto assets,” Tusar added. Institutional investors are big business for Coinbase. As of March 31 year, Coinbase stored $122 billion of assets on its platform from institutions. This represents more than half of the total $223 billion in total assets stored on the platform. Coinbase did not disclose how much it spent on acquiring Skew. Today's announcement marks the company’s first major acquisition since Coinbase went public earlier this month with a direct listing on the Nasdaq. Shares in Coinbase debuted at $381, though the price has since fallen below the $300 mark. Selling shares on public exchanges raises a lot of money, which growing companies often spend on developing their business. And Coinbase already offers a similar service to Skew through Coinbase Prime, which is to say it’s using that money to take an aggressive approach to M&A, absorbing the industry’s brightest stars before they can become real competitors. Coinbase has done this for years. It ramped up its spending spree in 2018, shortly after it made a ton of money from the 2017 Bitcoin boom. It has bought 16 companies (including Skew) and invested in 13, according to Crunchbase data. Coinbase’s venture capital arm, Coinbase Ventures, has invested in 74 companies. Coinbase acquired blockchain infrastructure company BisonTrails back in January, along with the trade execution service Routefire. Last year, Coinbase acquired cryptocurrency trading platform Tagomi. Tusar, the Coinbase VP who commented on the acquisition of Skew, was one of Tagomi's co-founders. Coinbase’s acquisitions have not always worked out for the best. In March 2019, Coinbase acquired Neutrino, a company that was led by the same individuals who spearheaded Hacking Team, an Italian tech firm that helped rogue governments spy on their citizens. Coinbase was caught in the fallout; a #DeleteCoinbase hashtag trended on Twitter at the time, and the crypto exchange announced that it let go the former Neutrino employees. In its Form S-1, filed with the SEC in February, the company said it plans to continue acquiring other companies, as well as making strategic investments in a broad swath of crypto-related projects across the industry.