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a day ago
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Altcoins Steal the Show as Bitcoin Builds Steam: Crypto Daybook Americas
By James Van Straten (All times ET unless indicated otherwise) While bitcoin (BTC) holds just below its record high, the derivatives market is showing signs of froth. Perpetual funding rates indicate that long positions are still dominant and traders are paying a premium to maintain bullish exposure. There are two ways of interpreting this, either the rally that took the largest currency to $123,000 is not yet spent, or it could be exhausted if not met with more spot buying. Don't you love markets? In Glassnode's latest weekly note, analysts point out that bitcoin has decisively broken into new all-time highs. While that signals strong underlying momentum, short-term holders are sitting on increasingly large unrealized profits, pushing key indicators into marginally overheated territory. Markets were jolted Wednesday by speculation that President Trump was getting ready to fire Federal Reserve Chair Jerome Powell, sending risk assets briefly lower before the White House clarified he was 'not planning' to remove him. Separately, a FOIA request revealed that the U.S. Marshals Service holds just 28,988 BTC, far fewer than many in the market assumed, raising fresh questions about future government auctions and their market impact. As bitcoin cools off, altcoins are taking the spotlight. Bitcoin dominance has fallen from 66% to 62%, while the total crypto market cap has surged to an all-time high of $3.8 trillion. Ether (ETH) is trading above $3,400 following a 7% daily gain driven by ETF inflows and positive regulatory sentiment. Solana (SOL) also rallied 5% after Galaxy Digital accumulated $55 million worth of SOL, a move that underscored rising institutional demand. Stay alert! What to Watch Crypto July 18: Lorenzo Protocol, a Cosmos-based blockchain with native token BANK, launches USD1+ OTF on BNB Chain's mainnet. The institutional-grade on-chain traded fund lets users stake stablecoins to mint sUSD1+ tokens that earn stable, NAV-backed yield from real-world assets, CeFi quantitative strategies and DeFi protocols. All returns are settled in USD1 stablecoin, issued by World Liberty Financial, whose stablecoin infrastructure powers the product's stable yield mechanism. Macro July 17: German Chancellor Friedrich Merz is visiting London to sign a treaty with Prime Minister Keir Starmer on strengthening bilateral defense, migration and industry ties as Europe faces new security challenges. July 17, 10 a.m.: Speech by Fed Governor Adriana D. Kugler on "A View of the Housing Market and U.S. Economic Outlook" at the Housing Partnership Network Symposium in Washington. Livestream link. July 17, 6:30 p.m.: Speech by Fed Governor Christopher J. Waller on the economic outlook at an event hosted by the Money Marketeers of New York University. Aug. 1, 12:01 a.m.: New U.S. tariffs take effect on imports from trade partners that failed to reach agreements by the July 9 deadline. These increased duties could range from 10% to as high as 70%, impacting a wide range of goods. Earnings (Estimates based on FactSet data) July 23: Tesla (TSLA), post-market, $0.42 July 29: PayPal Holdings (PYPL), pre-market, $1.29 July 30: Robinhood Markets (HOOD), post-market, $0.30 July 31: Coinbase Global (COIN), post-market, $1.35 July 31: Reddit (RDDT), post-market, $0.19 Aug. 5: Galaxy Digital (GLXY), pre-market Token Events Governance votes & calls Aavegotchi DAO is voting on a $245,000 funding proposal to expand Gotchi Battler into a revenue-generating game with PvE modes, NFTs and battle passes, aiming to reverse declining player numbers, boost GHST utility and create sustainable rewards. Voting ends July 22. Uniswap DAO is conducting a temperature check on Etherlink's request to co-incentivize Uniswap v3 liquidity. Tezos Foundation would put up $300K for three months of rewards on WETH/USDC, WBTC/USDC and LBTC/USDC, and is asking the DAO for $150K more, aiming to anchor Etherlink's rising TVL and future native tokens on Uniswap. Voting ends July 18. Ethereum Name Service DAO is voting on a proposal from Tally to enter a one-year renewable agreement to enhance ENS governance. Voting ends July 22. Rocket Pool DAO is voting to finalize Saturn 1's implementation. Approval by a 75% supermajority will ratify key protocol changes, including new transaction designs and a potential revenue share to the pDAO treasury. Voting ends July 24. NEAR Protocol is voting on potentially reducing NEAR's inflation from 5% to 2.5%. Two-thirds of validators must approve the proposal for it to pass, and if so it could be implemented by late Q3. Voting ends Aug. 1. July 29, 10 a.m.: to host a bi-quarterly analyst call. Unlocks July 17: ApeCoin (APE) to unlock 1.95% of its circulating supply worth $10.49 million. July 18: Official TRUMP (TRUMP) to unlock 45.35% of its circulating supply worth $903.36 million. July 18: Fasttoken (FTN) to unlock 4.64% of its circulating supply worth $90.2 million. July 20: LayerZero (ZRO) to unlock 23.13% of its circulating supply worth $58.87 million. July 25: Venom (VENOM) to unlock 2.84% of its circulating supply worth $13.21 million. July 31: Optimism (OP) to unlock 1.79% of its circulating supply worth $22.52 million. Token Launches July 17: Mogcoin (MOG) to be listed on Conferences The CoinDesk Policy & Regulation conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited. Use code CDB10 for 10% off your registration through July 17. July 20: Crypto Coin Day 7/20 (Atlanta) July 21-22: Malaysia Blockchain Week 2025 (Kuala Lumpur) July 24: Decasonic's Web3 Investor Day 2025 (Chicago) July 25: Blockchain Summit Global (Montevideo, Uruguay) July 28-29: TWS Conference 2025 (Singapore) Aug. 6-7: 2025 (Rio de Janeiro, Brazil) Aug. 6-10: Rare EVO (Las Vegas) Aug. 7-8: bitcoin++ (Riga, Latvia) Aug. 9-10: Baltic Honeybadger 2025 (Riga, Latvia) Aug. 9-10: Conviction 2025 (Ho Chi Minh City, Vietnam) Token Talk By Shaurya Malwa $500 million ICO sold out in minutes, and it wasn't just investors showing up. Over 1,700 fake PUMP tokens were deployed in the lead-up to the debut, with 214 impersonator dapps also spinning up to trap users, according to a BlockAid report shared with CoinDesk. On launch day alone, over 1,000 impersonator attacks were attempted. Security firm Blockaid said it blocked them in real time, preventing $381,000 in potential losses. This isn't a one-off. It's becoming a pattern: 6,700+ scam attempts tied to PUMP were blocked in just the past two weeks, and an estimated 550 fake tokens/contracts are being created daily. Attackers are using automated tooling to spin up malicious contracts faster than official announcements, exploiting hype and social momentum. The PUMP event highlights how memecoin frenzies are increasingly accompanied by industrialized scam infrastructure, targeting unsophisticated buyers and wallet drainers. While token was a success, its introduction has become a prime example of how token drops now double as battlegrounds between users, scammers and security tools. Derivatives Positioning Open interest (OI) across top derivatives venues remains close to all time highs. Bitcoin OI currently sits at $31.6B, just shy of yesterday's record $33B, according to Velo data. Binance leads with $13.56B of open interest while Hyperliquid has been one of the largest gainers of the past week, adding $800M to reach $3.9B. BTC three-month annualized basis is at 7%, still some way off the Q4 2024 highs of around 15%. For derivatives, ETH volumes currently exceed BTC volumes at $163.2B vs. $107.6B, according to Coinglass data. BTC put and call contracts currently stand at 339K, with calls accounting for 61% of the total, according to Velo. That's at the same time as Coinglass shows BTC options open interest at an all-time high of $51.67B. ETH has 2.68M call and put contracts, with 68% of them being calls, according to data from Velo. ETH open interest is starting to pick up, but at $12B is still below the record $14.76B set in March 2024, as per Coinglass data. Funding rate APRs across perpetual swaps remain positive and rising according to Velo, with BTC printing 7% and ETH printing 6.5% annualized funding on Binance, OKX and Deribit, Velo data show. This is low when compared with altcoins like HYPE and PUMP, which show annualized funding of 71% and 100% respectively, in Coinglass data. Coinglass also shows $521.29M in 24-hour liquidations, skewed 65% towards shorts. ETH led notional liquidations at $228.6M, followed by BTC at $69.9M and other tokens at $46.3M. The Binance liquidation heatmap for BTC indicates high leverage positions at $117,000 and $119,000. BTC dominance continues to hover above 60%, and while short liquidations hint at squeezed leverage, directional conviction appears measured heading into the next major expiry window. Market Movements BTC is down 0.82% from 4 p.m. ET Wednesday at $118,930.72 (24hrs: -0.07%) ETH is up 2.76% at $3,473.51 (24hrs: +10.16%) CoinDesk 20 is up 2.29% at 3,917.71 (24hrs: +5.9%) Ether CESR Composite Staking Rate is up 2 bps at 3.05% BTC funding rate is at 0.031% (33.945% annualized) on KuCoin DXY is up 0.28% at 98.66 Gold futures are down 0.81% at $3,332.00 Silver futures are down 0.38% at $37.97 Nikkei 225 closed up 0.60% at 39,901.19 Hang Seng closed unchanged at 24,498.95 FTSE is up 0.48% at 8,969.83 Euro Stoxx 50 is up 0.82% at 5,341.65 DJIA closed on Wednesday up 0.53% at 44,254.78 S&P 500 closed up 0.32% at 6,263.70 Nasdaq Composite closed up 0.25% at 20,730.49 S&P/TSX Composite closed up 0.37% at 27,152.97 S&P 40 Latin America closed up 0.48% at 2,613.36 U.S. 10-Year Treasury rate is up 1.4 bps at 4.469% E-mini S&P 500 futures are unchanged at 6,307.75 E-mini Nasdaq-100 futures are up 0.16% at 23,112.75 E-mini Dow Jones Industrial Average Index are unchanged at 44,426.00 Bitcoin Stats BTC Dominance: 62.44% (-0.96%) Ether to bitcoin ratio: 0.02919 (2.67%) Hashrate (seven-day moving average): 915 EH/s Hashprice (spot): $60.16 Total Fees: 4.53 BTC / $538,818 CME Futures Open Interest: 158,530 BTC BTC priced in gold: 35.6 oz BTC vs gold market cap: 10.06% Technical Analysis The ETH/BTC ratio has recorded its largest weekly gain since the week of May 5th, climbing 17.5% to 0.029. It is currently trading within the weekly order block that preceded ether's underperformance relative to bitcoin since mid-February. A decisive break above this level would open the path toward the next major resistance at 0.035, which marks the yearly open. Crypto Equities Strategy (MSTR): closed on Wednesday at $455.90 (+3.07%), -0.64% at $452.99 Coinbase Global (COIN): closed at $398.20 (+2.62%), +0.81% at $401.41 Circle (CRCL): closed at $233.20 (+19.39%), -0.4% at $232.27 Galaxy Digital (GLXY): closed at $24.36 (+16.78%), +3.24% at $25.15 MARA Holdings (MARA): closed at $19.44 (+3.62%), +0.26% at $19.49 Riot Platforms (RIOT): closed at $12.57 (+3.88%), -0.16% at $12.55 Core Scientific (CORZ): closed at $13.92 (+1.16%), unchanged in pre-market CleanSpark (CLSK): closed at $12.57 (+3.12%), unchanged in pre-market CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $26.17 (+4.47%) Semler Scientific (SMLR): closed at $42.71 (+1.26%), unchanged in pre-market Exodus Movement (EXOD): closed at $38.18 (+21.86%), unchanged in pre-market ETF Flows Spot BTC ETFs Daily net flows: $799.4 million Cumulative net flows: $53.84 billion Total BTC holdings ~1.28 million Spot ETH ETFs Daily net flows: $726.6 million Cumulative net flows: $6.5 billion Total ETH holdings ~4.6 million Source: Farside Investors Overnight Flows Chart of the Day Ether leads the market as the largest asset by derivatives volume, with 24-hour volumes reaching $163B. Bitcoin follows in second place, recording a 24-hour derivatives volume of $108B. While You Were Sleeping Fed's John Williams Says Rate Stance Remains 'Entirely Appropriate' (The Wall Street Journal): The New York Fed president said President Trump's tariffs have already driven up some consumer prices, such as household appliances, and could raise headline inflation to 3.5% over the next six months. 'Crypto Week' Back on Track After Lengthy House Do-Over Vote (CoinDesk): A nine-hour House standoff ended after the House Freedom Caucus secured an anti-CBDC provision in the defense bill, potentially clearing the way for a final Thursday vote on the GENIUS Act. China's Aircraft Carriers Push Into Waters Long Dominated by U.S. (The New York Times): China's twin-carrier drills beyond Okinawa marked a major naval milestone, with combat training near the U.S. base in Guam underscoring Beijing's aim to challenge American influence across the Pacific. Ether ETFs Post Record $726M Daily Inflow as Analysts Signal 'Deep Demand Shift' (CoinDesk): BlackRock's ETHA saw nearly $500 million in new capital and over $1.78 billion in volume, helping push total ether ETF assets above $16.4 billion, or 4% of ETH's supply. Crypto Market Maker B2C2 Said to Be Raising up to $200M: Source (CoinDesk): Part of the targeted raise would reportedly allow Tokyo-based SBI Holdings to reduce its 90% stake in B2C2. National Crypto Sandbox for Tourists in the Offing (Bangkok Post): Thailand's securities watchdog is seeking public feedback on a proposed national crypto sandbox for tourists, which would allow regulated conversion of digital assets into Thai baht via licensed operators. In the Ether
Yahoo
a day ago
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Shiba Inu's burn rate soars 900% as trading activity explodes
Shiba Inu's burn rate soars 900% as trading activity explodes originally appeared on TheStreet. Shiba Inu's burn rate has jumped a staggering 869.74% over the past 24 hours, according to Shibburn data, with nearly 5.89 million SHIB tokens permanently removed from circulation. This surge coincides with a massive uptick in trading activity: SHIB derivatives volume rose 25.34% to $586.29 million, while open interest climbed 13.5% to $287.41 million, per CoinGlass. The spike in burn activity suggests growing community efforts to reduce SHIB's circulating supply — now standing at 584.57 trillion tokens, out of a total supply of 589.25 trillion. Since its inception, Shiba Inu has burned over 410 trillion tokens, shrinking its initial 1 quadrillion supply by more than 40%. In crypto, "burning" refers to permanently removing tokens from circulation by sending them to unrecoverable wallet addresses. This deflationary tactic is designed to boost scarcity, theoretically increasing the token's value over time — especially in high-volume trading environments like SHIB's current derivatives boom. Derivatives data further shows increasing bullish sentiment. On OKX, the long/short ratio has climbed to 2.27, signaling more traders are betting on price gains. At the same time, liquidations ('rekt' stats) show more short positions getting wiped out — with $467.84K in long positions liquidated over 24 hours, compared to $269.44K in shorts. At the time of writing, SHIB is up 2% in the last 24 hours, trading at $0.00001479. Shiba Inu's burn rate soars 900% as trading activity explodes first appeared on TheStreet on Jul 18, 2025 This story was originally reported by TheStreet on Jul 18, 2025, where it first appeared.
Reuters
2 days ago
- Business
- Reuters
India markets regulator looks to extend tenure of derivatives contracts, official says
July 17 (Reuters) - India is looking to improve the quality of the derivatives market by extending the tenure and maturity of such contracts, an official at the markets regulator said in a speech on Thursday. "We must look for further ways to further deepen our cash equities markets, even as we look to improve the quality of our derivatives market by extending the tenure and maturity of the products and solutions on offer," said Ananth Narayan, a whole-time member at the Securities and Exchange Board of India (SEBI). Narayan did not provide details on the possible extension of the tenure of these contracts. The surge in derivatives trading, which has also been driven by retail investors, has prompted the SEBI to limit the number of contract expiries and increase lot sizes to make such trades more expensive. Earlier this month, SEBI barred U.S. securities trading company Jane Street from the local market until further orders, and seized $567 million of its funds, saying an investigation found it manipulated stock indexes through positions taken in derivatives. "Short-term contracts dominate our equity derivatives volumes," Narayan said. He said that these contracts detract from capital formation. SEBI's research shows that 91% of individual traders incurred net losses trading in futures and options in fiscal 2025. Highlighting the imbalance between cash markets and derivatives, Narayan said that on expiry days, comparable turnover in index options can exceed the cash market by over 350 times.
Yahoo
4 days ago
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Kraken Debuts Derivatives Trading in U.S., Plans Expansion to Commodity, Stock Futures
Crypto exchange Kraken on Tuesday debuted its U.S.-regulated crypto derivatives trading platform as it eyes expansion into a broader set of asset classes. Dubbed Kraken Derivatives US, the marketplace integrates futures trading with spot crypto markets, giving traders a single interface to manage margin and risk. The service allows for instant collateral transfer between spot and futures positions. The offering first went live in Vermont, West Virginia, North Dakota, Mississippi and District of Columbia, with more states to be added, the exchange said in an X post. The firm also shared plans in a press release about expanding its derivatives offering to a wider array of asset classes later this year, including commodities, fixed income, FX and equity futures. The debut comes as crypto exchanges are racing towards offering a unified marketplace across asset classes as competition with digital brokers and traditional trading venues is heating up. To do so, Kraken acquired a CFTC-licensed futures trading platform NinjaTrader for $1.5 billion earlier this year. Rival exchange Coinbase acquired options trading marketplace Deribit and launched perpetual-style futures regulated by CFTC in the U.S. Meanwhile, digital trading platform Robinhood bought regulated crypto exchange Bitstamp. Kraken also recently introduced tokenized stock trading through the xStocks in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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4 days ago
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Unlocking 24/7 commodity markets with onchain efficiency
Unlocking 24/7 commodity markets with onchain efficiency originally appeared on TheStreet. Commodity derivatives are central to global markets, but the systems that support them are still built for yesterday's world. Exchanges like the Chicago Mercantile Exchange (CME) and Intercontinental Exchange (ICE) dominate a $20T global commodity derivatives market. Despite their scale, both continue to operate around fixed trading hours, rely on T+1 or T+2 settlement cycles, and silo margin across asset classes. These structural constraints slow down capital movement, limit responsiveness, and increase costs, particularly during periods of volatility. When the Keystone Pipeline in the US ruptured in April 2025, crude markets moved immediately. Most desks couldn't. Locked into legacy infrastructure, traders were forced to wait for markets to reopen, missing critical hedging windows. The problem isn't just timing, it's structural. High-frequency strategies face compounded drag: clearing fees as high as $24 per million notional, capital fragmented across asset classes, and multi-day clearing cycles that delay liquidity reuse. Traditional exchanges are still designed around intermediaries, rollovers, and batch processing, even with electronic access. Sphinx addresses this directly. It's a new infrastructure layer built for commodity traders who need continuous access, real-time clearing, unified margining, and lower execution costs, all within a regulated environment. The technology matters, but only because it enables something traders haven't had: a faster, cheaper, always-on venue. For firms trading across energy, metals, and agriculture, speed and capital efficiency matter more than protocol semantics. Sphinx is designed to deliver both. Built to support high-frequency execution and cross-asset risk management, the system offers the kind of infrastructure performance usually reserved for tier-one financial venues. Sphinx supports sub-100-ms latency and throughput exceeding 10,000 transactions per second. It integrates directly with FIX and OEMS pipelines, ensuring compatibility with existing trading infrastructure. No custom middleware. No fragmented interfaces. It also eliminates rollover costs by replacing expiring futures with perpetual swap instruments, contracts that mirror spot markets and adjust continuously via dynamic funding rates. This allows traders to maintain uninterrupted exposure without rebalancing every quarter. The architecture is modular and interoperable by design. It's built on the Cosmos SDK with IBC support to allow future cross-chain connectivity, but those are backend details. What matters is the outcome: trades clear faster, margin moves dynamically, and strategy deployment isn't bottlenecked by system constraints. Sphinx isn't the venue, it's the base layer. GCX, the first exchange built on Sphinx, runs as a regulated execution platform, inheriting the infrastructure benefits while operating under its compliance framework. Sphinx is optimized for how modern commodity markets move. Price dislocations don't wait for New York or London to open, and neither should the systems traders rely on to manage them. Sphinx introduces several key innovations that directly address capital velocity, execution latency, and collateral efficiency. Legacy exchanges operate on fixed schedules. Sphinx enables continuous access to global markets, with no session windows, no rollover gaps. Whether the move happens overnight or midweek in Asia, traders can execute and adjust exposure immediately. Traditional clearinghouses settle on T+1 or T+2 cycles, delaying liquidity reuse. Sphinx uses smart contracts to finalize trades in under 60 seconds, reducing counterparty risk and unlocking margin faster. For active desks, this shortens the capital cycle significantly. Most venues require separate collateral pools for each asset class. Sphinx introduces a single-margin framework across commodities. Positions in oil, metals, and grains are netted dynamically. Internal benchmarks show 30–50% less capital required to hold equivalent risk. Sphinx's matching engine supports institutional order flow, with latency under 100ms and throughput exceeding 10,000 TPS. Combined with FIX/OEMS integration, traders can route orders directly without custom adapters or bridges. Exchange, clearinghouse, and brokerage fees add up, especially at volume. Sphinx removes intermediaries by automating settlement at the protocol layer. The estimated total cost reduction for high-frequency or large-volume users ranges between 70–90%, depending on strategy and turnover. None of these are bolt-on upgrades. They're embedded in how the system is architected, removing the constraints of legacy infrastructure and replacing them with programmable, capital-efficient alternatives. Regulatory clarity isn't a value-add; it's a prerequisite for institutional participation. Sphinx is built with this in mind. Every layer of the system, from user onboarding to settlement, is designed to align with the standards expected by banks, asset managers, and corporates operating under strict internal controls. KYC and AML are not retrofitted at the exchange level; they're enforced directly at the protocol level. Every participant is verified. Every transaction is audit-ready. The system also supports data localization and jurisdiction-specific compliance logic, enabling venues to meet local regulatory obligations without compromising global interoperability. GCX, the first exchange running on Sphinx, operates under a license from the Bermuda Monetary Authority and is in the process of securing FCA registration in the UK. This provides the foundation required for institutions to route real capital through a new infrastructure layer with full regulatory accountability. Sphinx's distinction isn't that it integrates compliance. It's that compliance is part of the base design, structured, verifiable, and built to hold up under scrutiny. Derivatives markets continue to expand, but the systems supporting them haven't kept up. In the first half of 2024, BIS reported an 18% year-over-year increase in notional volumes for commodity-linked derivatives, driven largely by derivatives also rose, while interest rate contracts held steady. Yet, nearly all of this volume still clears through legacy platforms like the CME, ICE, and Eurex, venues designed decades ago around fixed trading windows, siloed margin systems, and batch-based settlement. CME and ICE together handle over 50% of global commodity derivatives volume. Yet despite their scale, these systems introduce friction at every layer: trades settle on T+1 or T+2 cycles, margin is siloed by asset class, and true 24/7 execution remains out of reach. These limitations weren't critical when volatility followed a regional clock. But that's no longer the case. Today's traders face overnight geopolitical shocks, unpredictable supply chain events, and macro shifts that happen across time zones. Waiting for New York or London to open isn't viable risk management. Nor is locking up excess capital across five separate clearing silos to hedge a cross-commodity portfolio. Cost pressures compound the issue. Exchange fees, brokerage spreads, and capital inefficiency add up, especially for desks executing at scale. A trading firm holding diversified commodity exposures on traditional venues can spend 3–4x more on margin and clearing than on a system that supports cross-asset netting and real-time settlement. Institutional behavior is already adjusting. Crypto-native trading firms and funds like Brevan Howard Digital, Jump, and GSR are exploring programmable infrastructure, not as a speculative bet, but as a way to trade faster, cheaper, and more globally. What they're pursuing isn't decentralization, it's an edge. Sphinx enters this moment with infrastructure that speaks directly to that need. Faster clearing. Unified margin. Execution that doesn't wait for a session to open. Greg Perrin, Co-Founder and CEO, is a distributed systems engineer with a background in energy, blockchain, and industrial IoT. Before Sphinx, he was CTO at TypeX, where he built flared-gas-powered mining infrastructure and led on-grid expansion to over 250MW. Shevaan Jayasinghe, Co-Founder and product lead, brings a decade of experience across institutional finance and digital asset infrastructure. At Goldman Sachs in London, he worked across analytics, equity financing, and business development. He later joined where he helped develop institutional-grade custody and prime brokerage tools for digital assets. Austin Durgee, Co-Founder and CMO, has led funding campaigns for crypto and startup projects, securing over $16M while building strong developer and investor relationships. He later joined TypeX, focusing on strategic marketing and sales in the Bitcoin mining and energy space. Now at Sphinx, Austin drives the go-to-market strategy and ecosystem growth, helping shape the next generation of decentralized infrastructure for energy and commodities trading. Most trading infrastructure wasn't built for the speed or complexity of today's commodity markets. Execution still follows outdated clearing windows, and capital is too often locked behind static margin requirements. Sphinx approaches this differently and you can review their infrastructure in detail here. Sphinx rethinks the mechanics of clearing, collateral, and access, not to make them digital, but to make them work in real-time. For desks managing cross-commodity exposure, the result is faster settlement, better capital deployment, and fewer operational bottlenecks, all within a regulatory framework that institutions can use. Unlocking 24/7 commodity markets with onchain efficiency first appeared on TheStreet on Jul 15, 2025 This story was originally reported by TheStreet on Jul 15, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
