Galaxy Digital has launched an institutional vault curation product on Morpho, and the structural detail worth noting is where the risk sits. Galaxy applies its collateral standards, exposure limits and monitoring to the strategy —…
Marex clears first USDC-margined US derivatives trade
The Commodity Futures Trading Commission (CFTC) no-action letter that made this week's first USDC-margined clearing trade possible also covers Bitcoin (BTC) and Ethereum (ETH). The first live transaction used none of them — it used…
S&P 500 to 7,650 by year-end 2026: the…
Base case: the S&P 500 reaches 7,650 by year-end 2026 on a 22.5× multiple applied to $340 of 2026 earnings per share. Bull case 8,100 (23.8×), bear case 7,100 (20.9×). The mechanism is multiple arithmetic,…
Citadel doubles down: $400m Crypto.com stake at $20bn
Citadel Securities has put $400 million into Crypto.com at a $20 billion valuation — and the number that matters to anyone tracking market-maker positioning is not the headline figure but the ratio. Eight months ago…