Person
Head of firmwide research at Galaxy Digital, who writes on bitcoin market structure, on-chain events and US crypto policy; active on X as intangiblecoins.
Blockstream has not said whether its 11-of-15 federation was bypassed or complied. Until someone publishes what share of Liquid's reserves left on September 6, an L-BTC balance is an unverified claim.
Perspective Coverage
7 publishersReality
Blockstream paused the Liquid bridge after roughly 4,000 BTC left the federation wallet, and the people holding it will send most of it back only once the flaw is fixed, which puts the patch timetable in their hands.
Perspective Coverage
7 publishersReality
Galaxy Digital's estimate for the US market-structure bill has fallen from 75% in May to 10%. Firms budgeting for a statute should budget for SEC and CFTC rulemaking instead.
Perspective Coverage
3 publishersReality
Bitcoin's $81,159 weekly close sits $2,371 above its 50-week moving average. Galaxy Research counts that line as right in four of five completed bear markets, and wrong in two of thirteen crossings.
Reality
House leadership cancelled the last two September voting weeks, leaving the market-structure bill that crypto teams have been scoping features around without a scheduled path to the president's desk before the midterms.
Reality