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| BarnBridge 
| #BOND
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| BOND Price: | $3.34 | | Volume: | $3.7 M | | All Time High: | $173 | | Market Cap: | $31.3 M |
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| Circulating Supply: | 9,373,720 |
| Exchanges: | 25
| | Total Supply: | 10,000,000 |
| Markets: | 32
| | Max Supply: | 10,000,000 |
| Pairs: | 24
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The price of #BOND today is $3.34 USD.
The lowest BOND price for this period was $0, the highest was $3.34, and the current live price for one BOND coin is $3.34197.
The all-time high BOND coin price was $173.
Use our custom price calculator to see the hypothetical price of BOND with market cap of BTC or other crypto coins. |
The code for BarnBridge crypto currency is #BOND.
BarnBridge is 2.6 years old. |
The current market capitalization for BarnBridge is $31,326,665.
BarnBridge is ranked #371 out of all coins, by market cap (and other factors). |
The trading volume is big during the past 24 hours for #BOND.
Today's 24-hour trading volume across all exchanges for BarnBridge is $3,692,752. |
The circulating supply of BOND is 9,373,720 coins, which is 94% of the maximum coin supply.
A highlight of BarnBridge is it's limited supply of coins, as this tends to support higher prices due to supply and demand in the market. |
| Note that there are multiple coins that share the code #BOND, and you can view them on our BOND disambiguation page. |
Introducing Velo sUSD/USDC Pool and Key Updates to Barnbridge Smart Yield Mechanics
Barnbridge is excited to announce the launch of its Velodrome sUSD/USDC pool on Optimism, a Layer 2 scaling solution for Ethereum. This move comes after the successful deployment of Smart Yield on Arbitrum, with the expansion to Optimism furthering the project’s commitment to providing straightforward fixed-yield opportunities for users. The mechanics of the Smart Yield Velodrome sUSD/USDC pool are designed to optimize the yield generation process while maintaining a stable and secure environment for users. When a user deposits USDC into the vault, a portion of the deposited USDC is automatically swapped for sUSD. Both USDC and sUSD are then deposited into the Velodrome sUSD/USDC liquidity pool, which generates variable yield through earning rewards. Once the epoch ends, the liquidity is removed from the Velodrome sUSD/USDC variable pool, and the sUSD is swapped back into USDC. Finally, the resulting USDC becomes available for users to withdraw. In addition to the launch of the Velo sUSD/USDC pool, we have made significant updates to the Smart Yield mechanics to address potential shortcomings and to enhance the overall user experience. Here are the key changes to the Smart Yield mechanics: — Elimination of the Withdrawal Period. — Previously, the Smart Yield system included a withdrawal period that allowed users to withdraw their deposits before an epoch began. This feature has now been removed, and users can no... 
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The Official BarnBridge 2022 Recap
BarnBridge had a tumultuous year in 2022, marked by the departure of a few members of the founding team & the majority of the dev team in February, as well as the challenges of the brutal bear market including all of the centralized industry leaders going on a rug fest in the 2nd half of the year. Despite these challenges, the BarnBridge team & community was able to regroup + make significant progress on several key projects, including the delivery of SMART Yield V2 & our launch of our newly retooled BarnBridge DAO on Arbitrum as the two biggest wins of 2022 but the groundwork we laid really set the stage for massive wins in 2023. There is so much more when you start to look under the hood. Here’s a look back at some of the major developments of the past year: In early 2022, some of the original founders & most of the development team left the project. This was a significant blow, given their reputation in the Ethereum community. However, it’s important to recognize that their departure was due to philosophical differences and not any ethical issues. The protocols developed by the team have never lost user funds, and that is a testament to their skills. They built a wonderful foundation for BarnBridge to build on., The team was able to rebuild with some all-star hires, including the CTO of Q.xyz Labs Inc (one of the numerous development shops building on top of BarnBridge) Stu Hunter (who came over from...
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50 hidden Illuvials on BarnBridge Soil & How to get your hands on them?
In a first-of-its-kind event, BarnBridge has teamed up with Illuvium to make your holidays more dazzling and fun than ever. We are delighted to announce that BarnBridge in collaboration with Illuvium will be giving away 50 Private Beta spots for the most anticipated game in the Illuvium ecosystem — Illuvium: Overworld in an online raffle! 🥳 — Here’s how the giveaway works: - To enter the raffle: Follow @Barn_Bridge on Twitter, Like & RT the announcement tweet, Follow @illuviumio, RT the following: twitter.com/status/1602433808519016449…, To maximize your chances of receiving a Beta spot, consider taking the following actions: Participate in a BarnBridge v2 pool (either on mainnet or Arbitrum), Bridge your BOND from ETH mainnet to Arbitrum & stake in the new BarnBrige DAO, To confirm your participation, submit a form: forms.gle The Raffle will run through the next two weeks starting today. We will DM winners with a code + instructions from our official Twitter account. A user can win a maximum of 1 Private Beta spot. Make sure to join the BarnBridge Discord not to miss the announcement of the winners! — What is Illuvium Overworld - We’re sure you’ve probably seen already what Overworld is but if not — please see the official trailer and the latest gameplay reveal here: Illuvium: Gameplay Reveal Trailer | Collectible RPG & Autobattler Game A whopping 1.5+ million registe...
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An Upgrade to the BarnBridge DAO- Part II
For faster protocol development and complete decentralization, BarnBridge architected its DAO to the ‘Default framework.’ BarnBridge DAO (BB DAO), in its first iteration, was built as a series of smart contracts on the Ethereum blockchain that allowed users to collectively steward the BarnBridge protocol forward by proposing, voting, and executing changes and upgrades to the existing smart contracts including the treasury. Soon an all-new and improved version of the BarnBridge DAO is set to launch on Arbitrum. This will be our second swing at DAO First-styled governance, and is built on the ‘Default framework.’ This state-of-the-art framework will enable faster protocol development with increased transparency and flexibility. The move is also anticipated to boost governance participation, invite superior protocol improvement proposals, and lead to cutting-edge third-party integrations. Before we explain the ‘Default framework’ to you, let’s find out why the DAO actually needs it. The problem with the current DAO When BarnBridge was first launched, Compound-styled governance was the ultimate DAO architecture in DeFi. As we have always strived to be the best, we built our own iteration of the Compound DAO with some modifications. For some time, it worked as intended. The governance was smooth and saw sincere participation from the BarnBridge community. Most DAO members understood what was going on with the protoc...
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An Upgrade to the Barnbridge DAO — Part I
An Upgrade to the Barnbridge DAO — Part I - BarnBridge DAO migrates to Arbitrum Since its inception, BarnBridge has always taken a “DAO First Approach.” The first iteration of the DAO has been live on the mainnet and is currently governed by over 1,000 BOND token holders. With this in mind, we’re excited to announce our next step in the “DAO First” journey. This week, we will be releasing a refactored & upgraded version of the BarnBridge DAO on Arbitrum in our second swing at DAO First. The creation of this new DAO empowers BOND holders to manage our treasury, make decisions around treasury inflows, and help determine which protocols BarnBridge integrates with. The decision to move to Arbitrum was driven by two primary factors: 1) substantially lower gas fees will reduce barriers to voting on the DAO & 2) the burgeoning ecosystem that’s continuing to grow on Arbitrum. — DAO Infrastructure - The migration from Ethereum mainnet to Arbitrum, paired with the improvements we have made to our governance systems, will expand the ability of our governance system to work at scale. Our new DAO introduces a new approach to empowering user participation, centered around the idea of user generated proposals. Let’s take a deeper dive into the mechanics of the new DAO, how it’s structured, & how users can start playing a more active role in governance today. Governance on Arbitrum starts with moving...
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$BOND on Balancer and Olympus’s Flex Loans
BarnBridge DAO recently deployed a weighted pool on Balancer with a 50/50 distribution of $BOND & $OHM tokens. This injected $1M in $BOND/OHM liquidity on mainnet and will ensure that the market makers could act as takers on DEX’s to make markets on CEX’s across the mainnet and rollups for $BOND. — Why this fresh liquidity? - With the pool 2 rewards coming to an end, $BOND will no longer have incentivized liquidity on the mainnet. We had the liquidity incentivized ONLY for two years from the launch of the $BOND token as we believed that we should be fairly distributed when that period ends. But, it is now evident that we need more time to see that happening. So, we decided to deploy additional liquidity through Olympus’s Flex Loan Program and take advantage of its $ gOHM-backed loans. $OHM is an extremely liquid on-chain asset, so an $OHM/$BOND pairing would ensure we had prolonged on-chain liquidity and over a period of time the BarnBridge DAO would end up owning this liquidity. This is why the DAO swapped ~$500k worth of $BOND for $gOHM to hold as treasury holdings and paired it against $OHM in an $OHM/$BOND Balancer Finance pool. — Why not the same old way? - Back in 2020, the newly launched $BOND needed deep and decentralized on-chain liquidity in order to thrive as an asset. To make that happen, we went down the Pool 2 road, a novel and groundbreaking concept at the time, and launched an incentivi...
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BarnBridge v2: The Q Connection
Disclaimer: This post has been provided by Q.xyz to share more detail on the work that it did in conjunction with the BarnBridge DAO. Follow Q.xyz on Medium for all future updates. Q’s primary focus is to build deep, dynamic integrations with leading DeFi protocols & empower users to interact directly with those protocols through Q’s unified interface. Q will not only provide users with a clear overview of their crypto holdings across chains (e.g., crypto asset value, DeFi positions, NFTs) but will also allow them to directly open and manage positions in the blue chips of DeFi without leaving Q.xyz. Q’s core focus will be on institutional outreach & education. We believe that DeFi needs a transactional interface for institutions (similar to Bloomberg for traditional finance). Q aims to fill that gap in the market. — Q’s First Integration Partner: BarnBridge. — The first protocol that Q worked with to build out an integration is BarnBridge — more specifically, v2 of the BarnBridge protocol, which launched on the mainnet on September 5, 2022. As part of the development of this integration, the Q.xyz team worked closely with the BarnBridge DAO to design, develop & launch v2 of the protocol. Working closely with the most engaged & enthusiastic members of the BarnBridge community, the two teams reworked the entire Barnbridge fixed income protocol & introduced a novel mechanism to he...
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My Thoughts on BarnBridge V2 — The Mechanism is Already Working…?
My Thoughts on BarnBridge V2 — The Mechanism is Already Working…? - — A retrospective. - [You can skip this part if you don’t want to read my soap box retrospective.] DeFi got a little crazy last year. It’s honestly a little crazier now but in a different way (some of the valuations of defi are priced as if these aren’t zero debt organizations throwing off cash with low burn on the blue chip side). Some of the narratives are bonkers (but I’m not here to discuss that). Not sure how your cash position survives nuclear war which is how you are pricing this. But I digress. Like everyone, I got swept up in NFTs last year. And gaming. The narrative made sense. They’re the first thing we’ve ever seen in crypto that had native demand outside of number go up. People were buying art because they liked it. People will play games because they like them. I still liked them as financial primitives and was excited to see how Uniswap has used them. I think for the CFA types in defi, monkey JPEGs was a solid meme to justify getting torched by a bunch of art collectors. If I’m being brutally honest, I lost a ton of respect for many defi threadooors for their inherent misunderstanding of supply and demand. The way us financial autists in defi looked at monkey JPEGs & the degens of JPEG Morgan is how the actual J.P. Morgan looks at US. I think this specifically has to do with the lack of real world assets on ...
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BarnBridge v2 — The Detailed Guide on How to Earn Fixed Income in DeFi
BarnBridge v2 — The Detailed Guide on How to Earn Fixed Income in DeFi - BarnBridge launched Smart Yield on March 15th, 2021, a risk tokenization application to take on unique investment positions based on your preferred risk appetite. It allowed users to perform a simple interest rate swap, with one side taking on more variable risk and the alternative side taking on a fixed rate of return. BarnBridge v2 has introduced a novel mechanism for users to more seamlessly earn fixed yields on their deposits. To create this next generation of fixed-income protocol, we had to make changes at the protocol level and not just at the application layer (Smart Yield). We upgraded our governance contracts, moved our DAO to Optimism, introduced a BarnBridge DAO LP side, integrated BarnBridge with Aave markets, and likewise. Hence, one can assume it’s appropriate to call it BarnBridge v2 rather than a mere Smart Yield v2. The key focus of the team has been to tackle and eliminate challenges preventing the rise of fixed income in DeFi. Let’s find out why fixed income in DeFi hasn’t taken off to date and see how our latest offering fixes some of the previous issues up to this point. — A Brief History of Fixed-Income DeFi - Fixed income broadly refers to debt instruments that offer a fixed interest rate on your deposits. There aren’t any major DeFi protocols that allow you to borrow and lend at the originator, albeit attem...
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Announcing Barnbridge v2: sustainable fixed interest in deFi made easy.
Announcing Barnbridge v2: sustainable fixed interest in DeFi made easy. - — Prelude - One thing is certain, DeFi moves at warp speed. For a year and change, BarnBridge existed, we launched products that some say were ahead of their time. With new entrants coming into the market and improving on what we started, we had to ask ourselves: what’s next for BarnBridge? What are the learnings that will lead us to find optimal product-market fit? Small incremental improvements are good but not enough. Our moat has always been building elegant solutions that are exponential improvements to real-world challenges. So we listened to feedback from users, the community, our partners, and prospective funds looking to deploy capital. And one thing was crystal clear. Fixed income products in DeFi were complicated and siloed. Furthermore, we felt it was a huge ask for the users to deposit their capital for long periods of time, three months to six months, in an industry that moves at warp speed to earn yield (fixed and variable). So, we set out to eliminate these challenges one by one and make fixed-income in DeFi more practical, lucrative, and flexible for our users. After several months of research, ideation, validating hypotheses, writing specs, and hiring two new development teams, it’s time for a major overhaul and to continue being on the cutting edge. It’s time for fixed income to made easy. It’s time for BarnBridge ...
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 | BRICS Bank 'Re-taps Into USD Bond Market' With $1.25 Billion 'Green' Bon...
The development bank established by the BRICS group of nations has issued its first “green” bonds in U.S. dollars (USD). Proceeds from the placement will be used to fund “green” projects supported under the banking institution’s sustainable financing policy.BRICS Development Bank Launches 3-year 'Green' Bonds
The New Development Bank (NDB), founded by the BRICS bloc, has placed three-year “green” bonds on international capital markets in the amount of $1.25 billion, the bank announced in a press release on Thursday, quoted by the Tass news agency.
The benchmark bond has been issued under the $50 billion Euro Medium Term Note Program, registered by the NDB in December 2019. The net proceeds will be used to finance or refinance eligible “green” projects, as defined in the NDB’s Sustainable Financing Policy Framework.
“The issuance represents NDB’s return to the international capital markets and is also the first USD Green Bond issued by the bank, demonstrating its commitment to sustainable capital markets,” the institution said in a statement.
The NDB was created by BRICS under an agreement between the member states – Brazil, Russia, India, China, and South Africa – which was signed on July 15, 2014 and entered into force a year later. It finances solutions aimed at building a “more inclusive and resilient future.”
The bank noted that the transaction has seen strong reception ...
|  | Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue...
China's relationship with Saudi Arabia is growing as the country's Cabinet has agreed to join the Shanghai Cooperation Organization (SCO). The diplomatic move made by the kingdom began with a memorandum of understanding in September, and at the end of March, Saudi Arabia's Cabinet approved the decision to become a dialogue partner. The Cabinet's decision followed Saudi Arabia's resumption of its relationship with Iran in a deal brokered by China.Riyadh Joins China's SCO; Kingdom Ends 7-Year Breakup With Iran
China, a member of the BRICS bloc, has been strengthening its relationship with Saudi Arabia recently. Several reports indicate that the Cabinet in Riyadh has approved a decision to join the Shanghai Cooperation Organization (SCO). The SCO is a union of Eurasian states established by China, and it is the world's largest political, economic, and military alliance. Members include India, Russia, Pakistan, Kazakhstan, Kyrgyzstan, and Tajikistan, among others. In September 2022, Oilprice.com author Simon Watkins was the first to report that Saudi Arabia initiated a memorandum of understanding to join the SCO.
Amid Saudi Arabia's Cabinet approval to join the SCO, the country revealed a renewed relationship with Iran and plans to reduce daily oil production. Senior Saudi and Iranian diplomats recently met in China to restore the two countries' relationship. Iran reported that it would reopen embassies and consulates, and the two regions would revive trade deals. However, the U....
|  | Euroclear Nearing Completion of Distributed Ledger Technology-Based Bond...
According to a staff member, Euroclear is currently in the final stages of developing a bond settlement platform that utilizes Distributed Ledger Technology (DLT). This move is expected to streamline the bond settlement process and provide a more efficient and secure solution for Euroclear's clients.
DLT is a type of technology that allows for secure and transparent record-keeping. By utilizing DLT, Euroclear's bond settlement platform will provide clients with real-time access to settlement information, reducing the risk of errors and delays.
The new platform is also expected to improve the overall efficiency of the bond settlement process by reducing the need for intermediaries and manual processes. This will lead to faster settlement times and lower costs for Euroclear's clients.
The move towards a DLT-based settlement platform is in line with a broader trend towards the adoption of blockchain technology in financial markets. As blockchain technology continues to mature, we can expect to see more financial institutions utilizing it to improve the efficiency and security of their operations.
Overall, Euroclear's move towards a DLT-based bond settlement platform is an exciting development that has the potential to significantly improve the bond settlement process for its clients.
|  | Silicon Valley Bank Faces Financial Woes as Stock Is Halted, Sells $21 B...
On March 10, 2023, market observers are discussing the troubles Silicon Valley Bank (SVB) faces, as the firm's stock slid more than 60% in the last 24 hours. SVB was forced to sell a $21 billion bond portfolio at a $1.8 billion loss. CEO Greg Becker insists that the financial institution 'will be well positioned' and is 'well capitalized' going forward. SVB's stock, SIVB, was halted during the premarket trading session on Friday after the bank announced it would release news. As SVB’s Foundations Shake, Concerns Grow Over a Potential Bailout and Market Instability
Market strategists and investors are focused on Silicon Valley Bank (SVB) and U.S. financial institutions as a whole following the voluntary liquidation of Silvergate Bank. SVB is dealing with significant financial woes after the company's stock, SIVB, shed more than 60% during Thursday's trading session. SVB is well-known for its portfolio of tech and venture capital deals, but venture capital activity has slid 30% lower over the last 12 months. SVB customers spending funds at a rapid pace has made it so SVB's cash burn is much higher than venture investing.
Then SVB revealed it was selling its available-for-sale (AFS) bond portfolio for $21 billion, and the bank lost a total of $1.8 billion from the sale. 'We are taking these actions because we expect continued higher interest rates, pressured public and private markets, and elevated cash burn levels from our clients,' SVB CEO Greg Becker said in a statement...
|  | Stanford Alumni Revealed as Co-Signers of FTX Co-Founder's $250M Bond
According to the latest court documents in the fraud case involving former FTX CEO Sam Bankman-Fried in Manhattan, the New York judge presiding over the case unsealed the co-signers of Bankman-Fried's bond on Wednesday. The names of the two bail bond co-signers that were previously redacted from court documents are Stanford University alumni Larry Kramer and Andreas Paepcke. Details Emerge on SBF’s Bail Bond Co-Signers
Sam Bankman-Fried (SBF), co-founder of FTX, faces eight counts of financial misconduct for allegedly mishandling customer funds. He is currently out on bail and is being monitored by an ankle bracelet, with his trial scheduled for Oct. 3, 2023. SBF's $250 million bond agreement was secured by his parents' Stanford faculty home, and two co-signers backed the agreement. However, their names were previously unknown because lawyers argued that they should remain redacted for privacy reasons.
On Wednesday, the New York judge unsealed the previously redacted names of the two co-signers, revealing that they were prominent members of Stanford University. One co-signer was Larry Kramer, a former dean of Stanford Law School from 2005 to 2012. The other co-signer was Andreas Paepcke, a senior research scientist in computer science at Stanford University. Kramer is the president of the left-leaning Hewlett Foundation, which aims to bolster 'effective philanthropy.' He has described SBF's parents as “the truest of friends.” In a statement sent to multiple...
|  | Industrial Giant Siemens Issues €60 Million Digital Bond on Blockch...
German conglomerate Siemens has for the first time issued a blockchain-based digital bond denominated in euros. In an announcement, the corporation highlighted the benefits of using blockchain, including the opportunity for direct sale to investors.Digital Bond Issued Under Germany’s Electronic Securities Act
The largest industrial manufacturer in Europe, Siemens, announced it has become one of the first companies in Germany to issue a digital bond in accordance with the country’s Electronic Securities Act which came into force in June, 2021.
The €60-million bond ($64 million) has a maturity of one year and is based on a public blockchain, that of Polygon, according to crypto media reports. Announcing the deal on Tuesday, Siemens emphasized certain advantages of employing a blockchain platform over traditional methods:
For instance, it makes paper-based global certificates and central clearing unnecessary. What’s more, the bond can be sold directly to investors without needing a bank to function as an intermediary.
“By moving away from paper and toward public blockchains for issuing securities, we can execute transactions significantly faster and more efficiently than when issuing bonds in the past, Corporate Treasurer at Siemens AG Peter Rathgeb was quoted as stating.
Germany’s Electronic Securities Act allows organizations to issue blockchain-based digital bonds, Siemens pointed out. It also said it has sold the securities directly to inve...
|  | Here's Who Co-Signed Sam Bankman-Fried's $250 Million Bail Bond
The guarantors behind Sam Bankman-Fried (SBF)’s $250 million bail package have been revealed after news organizations gained court approval to unseal their names in early January.
Both individuals are high-ranking academics at Stanford, where the disgraced CEO’s parents are law professors.
Who Granted SBF Bail?
The signatories’ names are Larry Kramer and Andreas Paepcke – a former Stanford law school dean and computer scientist, respectively.
Kramer is president of the William and Flora Hewlett Foundation, a charitable organization with $15 billion in assets, per his online biography on Stanford Law’s website. He also serves on the boards of numerous non-profits, such as the National Constitution Center, Independent Sector, and the ClimateWorks Foundation.
Meanwhile, Paepcke “uses data analytics to create tools” focused on “ user interfaces and systems for teaching and learning” according to his own Stanford bio. His hobbies include “piano studies, worrying and poetry.”
Kramer signed a surety for a $500,000 bond, while Paepcke signed a $200,000 bond. Each joins Bankman Fried’s parents in allowing Bankman-Fried to stay at home with his parents close to the university, rather than staying in jail.
The parents, Joseph Bankman and Barbara Fried, were required in December to post equity in their home as partial satisfaction of the bail conditions. The home has an estimated worth of $4 mill...
|  | Names of People Who Posted SBF's Bond Should be Made Public, US Judge Ru...
Judge Lewis Kaplan in Manhattan reportedly ruled that the names of the two individuals who allowed Sam Bankman-Fried (SBF) to stay at his parents' house under a $250 million bond should be made public.
The former CEO of FTX faces several charges, including fraud and money laundering. His trial date is set for October 2, 2023.
According to a report by Reuters, Judge Kaplan ruled in favor of many media outlets, such as Bloomberg, CNBC, and The Washington Post, who insisted that the identity of those people should be disclosed.
The names will remain under seal until at least February 7 because 'the question presented here is novel and an appeal is likely,' the magistrate outlined.
After spending a brief time in a Bahamian jail, the authorities extradited Bankman-Fried to the US, where he was expected to see the prison cell from the inside.
However, a New York federal judge ordered that he could live at his parents' house under a $250 million bond. The 30-year-old must wear an electronic monitoring bracelet and is not allowed to leave the Northern District of California.
His attorneys previously declined to reveal the names of the sureties that enabled the bond, arguing they will suffer similar harassment as his parents.
The lawyers claimed that Ms. Fried and Mr. Bankman have recently received 'a steady stream of threatening correspondence, including communications expressing a desire that they suffer physical harm.'
In addition, three mysterious men drove their vehic...
|  | Despite Embracing Bitcoin, El Salvador Repaid its $800 Million Bond
Nayib Bukele - the President of El Salvador - revealed that the government repaid its $800 million bond plus interest the same day it was set to mature.
Settling the bond comes despite the pessimistic views that the nation will experience financial challenges due to its bitcoin forays.
'We Just Paid in Full'
El Salvador's political leader, who is among the biggest proponents of bitcoin, announced the news on Twitter, regretting that most international media outlets did not spread the information. At the same time, they were among the first to doubt whether the country would be able to repay the $800 million bond that matured on January 23.
In the past year, almost every legacy international news outlet said that because of our “#Bitcoin bet”, El Salvador was going to default on its debt by January 2023 (since we had an 800 million dollar bond maturing today).
Literally, hundreds of articles https://t.co/rEiK7K13U4
— Nayib Bukele (@nayibbukele) January 24, 2023
He specifically referred to The New York Times, which claimed in July last year that El Salvador's decision to purchase bitcoin on a macroeconomic level could harm its monetary network and prevent it from paying its debt. Bukele further stated that the bond was settled without having to ink a deal with the International Monetary Fund (IMF).
Changpeng Zhao (CZ) - CEO of the world's leading crypto exchange, Binance - congratulated El Salvador for meeting its financial obligations.
The nation's Mi...
|  | Cornell Professor Warns of Disruption to US Bond Market From Potential C...
A professor from Cornell University has warned about the potential effects a collapse of a major stablecoin could have on the U.S. bond market. Eswar Prasad said that if large stablecoins face a collapse, the number of Treasury bonds they would need to sell could disrupt the U.S. Treasuries market, affecting prices.
Cornell Profesor Alerts About Stablecoin Collapse Danger
Eswar Prasad, an economics professor at Cornell University, has warned about the potential damage a bank run on a possible collapse of a major stablecoin could bring to the traditional finance system in the U.S. Although the most recent collapse in the crypto economy did not reach legacy finance structures, Prasad believes stablecoins and their operations present risks in this regard.
In an interview with CNBC, Prasad argued that stablecoins use U.S. treasuries as a backup to maintain the value of the peg. In the case that one of the big stablecoins in the market faces a collapse or a bank run, these organizations would have to redeem these bonds to process their own redemptions, affecting the treasuries market.
Prasad stated:
A large volume of redemptions even in a fairly liquid market can create turmoil in the underlying securities market. And given how important the Treasury securities market is to the broader financial system in the U.S. I think regulators are rightly concerned.
According to their report, all of the top three stablecoins possess a big number of U.S bonds in their treasuries. Ac...
|  | Former FTX CEO Sam Bankman-Fried Pleads Not Guilty to Criminal Charges, ...
On Jan. 3, 2023, the former FTX CEO Sam Bankman-Fried (SBF) pleaded not guilty to eight criminal charges that involve two counts of wire fraud and six counts of conspiracy. In addition to the not guilty plea, SBF’s judge Lewis Kaplan granted the defendant’s request to keep the names of his $250 million bond signees redacted. Sam Bankman-Fried Pleads Not Guilty to Criminal Charges and Fights to Keep Bond Signees Anonymous in Court
Disgraced FTX co-founder Sam Bankman-Fried (SBF) said he’s not guilty of the eight charges against him when he attended his court hearing in front of judge Lewis Kaplan on Tuesday. When SBF’s entourage arrived outside the Manhatten courthouse, his SUV was swarmed by the press and reports say the crowd was so large “Bankman-Fried’s mother was unable to exit the vehicle.” SBF’s bodyguard and security team then escorted the former FTX executive into the courthouse.
Alongside pleading not guilty to the charges against him, SBF’s attorneys filed a motion in order to keep the names of the two signees who signed SBF’s $250 million bond sealed. The attorneys insisted that SBF’s parents were already dealing with risks from their son’s case and the legal team said it wants to make sure the bail bond’s guarantors don't suffer the same fate. SBF’s bond was interesting because the former FTX executive didn't have to pay any money at all. His parents had to secure the bond with th...
|  | 'Investors Are Running out of Havens' — Erratic Behavior in US Bon...
Yields on long-dated U.S. Treasuries have been erratic this year and this week, the 10-year Treasury yield crossed 3.5% for the first time in a decade. Following the Fed's 75bps (basis points) rate hike, 10-year notes reached 3.642% and two-year Treasury notes jumped to a 15-year high at 4.090%. The curve between the two- and 10-year notes indicates the chances of a deep U.S. recession have grown stronger, and recent reports say bond traders have been 'confronted with the wildest volatility of their careers.'2 Quarters of Negative GDP, Red-Hot Inflation, and Extremely Volatile T-Notes
At the end of July, after the second consecutive quarter of negative gross domestic product (GDP), a number of economists and market strategists stressed that the U.S. is in a recession. However, the Biden administration disagreed and the White House published an article which defines the start of a recession from the National Bureau of Economic Research's perspective. Additionally, red-hot inflation has been wreaking havoc on Americans, and market analysts believe that rising consumer prices also point to a recession in the United States.
One of the biggest signals, however, is the yield curve which measures long-term debt with short-term debt by monitoring two and 10-year Treasury note yields. Many analysts believe an inverted yield curve is one of the strongest signals that points to a recession. The inverted yield curve is unusual but not in 2022, as bond traders have been dealing with a cr...
|  | Bitcoin Price Drops 6% While Bond Yields Spike
The world's top cryptocurrency by market cap, Bitcoin, has hit the $18,000 mark and is still dropping. The crypto has dipped by 6% within the last 24 hours and more in the previous week.
BTC/USD breached the $19,000 triple bottom support when it crashed from $20,000 to $18,000, signaling a major selling sentiment among Investors.
Bitcoin Hits $18,000
There are several reasons for Bitcoin's bearish run, but most refer back to the Federal Reserve's aggressive approach to inflation.
Rising Bond Yields: the US 10-year bond yield has risen 3.25% since June, as sell-offs continue to increase. Investors are playing it safe as a result. Thus they are avoiding the more volatile assets like Bitcoin, which is putting more downward pressure on the digital asset's price. Fed's Hawkish Policies: Jerome Powell, head of the Federal Reserves, is staying true to his predecessor's aggressive approach to inflation, raising interest rates. It appears he is not about to slack off as he reiterated his goal of strengthening the dollar to fight inflation. At writing, the dollar has hit a 20-year high, adversely affecting the price of Bitcoin as well. And finally:
Nord Stream 1 Shutdown: Since Russia closed off the Nord Stream 1 pipeline, gas flow to Europe is on hold. This has scared the market and is causing Bitcoin trading to the tank. Tech Equities Are Equally Dropping
As the Fed continues to increase interest rates in hopes of building the dollar's strength, tech equities are equally affec...
|  | Bond King Jeffrey Gundlach Thinks BTC Could Sink to $10K
The American businessman and Founder of DoubleLine Capital LP - Jeffrey Gundlach - said that the current condition of the cryptocurrency market is 'clearly not positive.' Keeping this negative trend in mind, he believes bitcoin's price could plunge to $10,000.
BTC at $10K Wouldn't be a Surprise
In a recent interview for CNBC, the American billionaire known as the 'Bond-King' - Jeffrey Gundlach - outlined quite a bearish prediction for bitcoin's future valuation. According to him, the primary cryptocurrency's recent downfall has been happening at a rapid pace, and this trend could propel a further decline to $10,000:
'It looks like it's being liquidated, so I'm not bullish at $20,000 or $21,000 on bitcoin, I wouldn't be surprised at all if it went to $10,000.'
The digital asset market, similar to many traditional finance markets, has crashed in the past week. Bitcoin, for one, currently hovers around $22,000, trading far away from its levels at the beginning of 2022 and from its all-time high (nearly $70,000) registered in November last year.
In January 2021, Gundlach warned that BTC could represent a massive bubble because of its significant price swings. Back then, the asset was trading at $42,000 but crashed by nearly $12K in a matter of 24 hours:
'I don't like bitcoin here. I don't like things that are up on a stilt like that. Bitcoin, to me, is now sort of in bubble territory in terms of the way it's been acting.'
In the following months, the cryptocurrency overcame its i...
|  | Erratic Bond Yields, Lockdowns, and War — 3 Reasons Why Economic R...
The global economy looks bleak as inflation continues to rise, and a wide array of financial investments continue to shudder in value. Since May 2, 2022, the crypto economy has dropped more than 15% from $1.83 trillion to today's $1.54 trillion. The price of gold has lost 5% in 30 days, and major stock market indexes have seen record lows during the past two weeks. While many people hope the world's financial markets will see a turnaround, there are three major obstacles impeding the path to recovery.3 Factors That Will Impede the Global Economy's Healing Process
While many people are surprised by the economy floundering, a great number of individuals predicted the economic downfall following the stimulus measures leveraged to fight Covid-19. Presently, global markets are looking awful, as equities are falling in value, precious metals have slipped over the last month, and crypto markets have been a bloodbath during the past 30 days as well.
On Monday, May 9, 2022, it was a day many investors won't forget as the Nasdaq index slid by 4%, gold dropped by 2%, crude oil slipped by 7%, and the crypto economy shed 8% over the last 24 hours. Currently, there are three major reasons why the economy may continue to flounder until things start to change. The reasons include the ongoing war in Europe, the current Covid-19 outbreak in China, and U.S. bond market yields.
The Ukraine-Russia war
The first is simple to understand, war is not good for the economy except for firms like Raytheo...
|  | ECB to Cease Bond Purchases in Q3, Lagarde Says EU's Economic Rebo...
After the inflation rate in the eurozone reached a high of 7.5% in March, the European Central Bank (ECB) and the bank's president Christine Lagarde explained on Thursday the central bank's bond purchases will cease in Q3. Reiterating what she said at a press conference in Cyprus two weeks ago, Lagarde stressed on Thursday that inflation 'will remain high over the coming months.'European Central Bank Plans to End Asset Purchase Program in Q3
The eurozone is suffering from significant inflationary pressures as rising consumer prices are ravaging European Union (EU) residents. In March, data from the ECB had shown consumer prices skyrocketed to 7.5% and the ECB's president Christine Lagarde expected energy prices to 'stay higher for longer.' On April 14, members of the ECB met and then told the press that the central bank plans to cease its APP (asset purchase program) by the third quarter.
'At today's meeting the Governing Council judged that the incoming data since its last meeting reinforce its expectation that net asset purchases under the APP should be concluded in the third quarter,' the ECB disclosed to the press. After the APP ends, the bank is expected to start hiking the benchmark bank rate. However, in Lagarde's opinion, it will depend on what happens with the current Ukraine-Russia war.
The EU's economic improvement, Largade said 'will crucially depend on how the conflict evolves, on the impact of current sanctions, and on possible further measures.' The central ban...
|  | US Bond Markets Signal Economic Downturn, Trend Forecaster Says if War E...
As Americans continue to deal with rising inflation, on Tuesday the spread between 2-year and 10-year Treasury yields inverted, signaling the U.S. economy may be headed for a recession. This week, a myriad of financial reports have noted that the U.S. dollar's reserve currency status could be undermined. Moreover, there's also the possibility of crude oil prices reaching upwards of $250 per barrel, according to a top hedge fund manager.Ominous Inverted Yield Curve Sends Recession Signals, While the Dollar's Reserve Currency Status Is Questioned
On March 29, a closely observed bond market indicator flashed a signal that usually indicates the U.S. economy is due for a recession. The signal took place in Treasury bond markets as the spread between 2-year and 10-year Treasury notes inverted for the first time since 2019. The following day, the yield curve inverted once again as 2-year bonds reached 2.377% on Wednesday, and 10-year notes slid as low as 2.334%.
The inversion has taken place while inflation in the U.S. has been red hot and the Federal Reserve prepares to tighten monetary easing tactics and raise the benchmark bank rate. There's also been a number of reports in recent times that question whether or not the U.S. dollar could lose the fiat currency's reserve currency status. The Economist asks: 'Will dollar dominance give way to a multipolar system of currencies?' in a recent report, and the financial authors at Barron's and South China Morning Post (SCMP) ask the same...
|  | El Salvador's $1B Bitcoin Bond Offering Delayed: Will Wait for Fav...
Retail and institutional investors will have to wait further for the $1 billion Bitcoin Bonds as El Salvador has postponed its planned offering.
Amidst geopolitical turmoil, the country's Finance Minister Alejandro Zelaya said they would wait for favorable conditions in the financial market, and the hold-up be could be as late as September.
Unfavorable Market Conditions
The El Salvadorean central bank was previously scheduled to launch the long-awaited Bitcoin Bonds between March 15-20. However, Russia's invasion of Ukraine and its effects on Bitcoin's price led the government to change its course, as per the latest report by Reuters. In an interview with a local show, Zelaya was quoted saying,
'I think this is not the time. There are some moves on the planet. In May and June sometimes you can, but the market variables get different. After September, it is difficult to raise, unless you are previously funded, as in the case of Bitcoin Bond.'
President Nayib Bukele announced the 10-year Bitcoin 'volcano bond' in November last year. The $1 billion proceeds received from issuing these bonds will be directed towards backing the much-hyped 'Bitcoin city,' envisioned by the Bukele himself, that will be driven by the geothermal energy of a volcano near the Honduran border.
Even as El Salvador struggles to advance use-cases for Bitcoin, it has an ambitious roadmap that includes using the funds to purchase more Bitcoin and storing them in its reserves. As reported by CryptoPotato, Zel...
|  | The World's First Decentralized Bond Market Has Arrived
By 2021, Statista found that there were over nearly 6,000 cryptocurrencies in existence, a staggering increase from the handful of digital tokens in 2013. With the rapidly evolving and expanding cryptocurrency industry, It’s no wonder that the amount of tokens has been skyrocketing.
Alongside the rise in tokens, there has also been an acceleration in the number of investment platforms within the cryptocurrency ecosystem. Although there are many platforms, many come with issues, including lock-up periods, lack of transferability from platform-owned wallets, and large transaction costs. Additionally, being a liquidity provider in the Ethereum network, withdrawal fees can significantly take away from the profits investors are receiving.
As the industry continues to reach new heights, technology is adjusting and evolving to keep up with the changing needs of the market. One platform that is addressing some of these issues is SuperBonds, the very first DeFi bond market. It’s built on Solana, a blockchain that operates without the traditionally high fees.
Bonds allow investors to loan borrowers, like companies or a government, who use the cash towards funding their operations, while the investor receives interest on the investment. They are a popular investment choice, especially in traditional finance, as they are typically a low-risk option and return on average around 5% annually. They are commonly invested into diversified portfolios as they offset riskier investmen...
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