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  • Crypto Alpha - 13 November 2024

Crypto Alpha - 13 November 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR

  • Coinbase’s COIN50 Index: High-Stakes Betting with 20x Leverage

  • Stablecoin Legislation: Chamber of Commerce to Congress—Hurry Up!

  • Trump’s Advisor Backs Scott Bessent for Treasury Secretary

  • Italy’s Crypto Tax Cap: Keeping Taxes on the Down Low

  • Fed Governor Waller: Stablecoins Need Guardrails Before They Run Wild

  • Notabene Bags $14.5M in Funding for Crypto Compliance

  • Coinbase Climbs to #21 on the App Store: Making Crypto Mainstream

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Alpha of the Day

Coinbase’s COIN50 Index: High-Stakes Betting with 20x Leverage

Coinbase has launched the COIN50 index, giving crypto traders what they’ve been dreaming of—high-stakes bets with up to 20x leverage! This index tracks 50 of the top crypto assets, essentially making it the equivalent of a crypto buffet for risk-hungry investors. While leverage this high means gains could go interstellar, it also means losses could, well, go down in flames. For anyone brave (or wild) enough to try it, the COIN50 is the new playground. Just remember, with great leverage comes great responsibility—or at least a good dose of caution.

Stablecoin Legislation: Chamber of Commerce to Congress—Hurry Up!

The Digital Chamber of Commerce isn’t playing around anymore. They’re urging U.S. lawmakers to act on stablecoin legislation, like, yesterday. In their view, it’s not just about regulating crypto; it’s about securing the future of digital dollars and avoiding financial headaches down the line. As the stablecoin market grows, they want to avoid the risk of unregulated runs and keep America in the game globally. The message? Dear Congress, hit pause on debates and give us some stablecoin rules already.

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Trump’s Advisor Backs Scott Bessent for Treasury Secretary

In a plot twist that feels like crypto meets Wall Street, Trump’s main advisor is championing Scott Bessent, a former Soros fund manager, for Treasury Secretary. Bessent, known for his Wall Street prowess and connections to the finance elite, would bring some serious money-moving chops to the role. It’s a bold move and a strategic one, especially considering Trump’s love-hate relationship with “the establishment.” With Bessent in the mix, Wall Street meets MAGA vibes—definitely a pairing to watch.

Italy’s Crypto Tax Cap: Keeping Taxes on the Down Low

Italy has decided to cap cryptocurrency taxes at 28%, which is basically like saying “enjoy your pasta and keep a bit more crypto, too.” This cap is a win for Italian crypto traders, who now get some much-needed predictability in their tax bills. It’s a cool move from a country that’s growing warmer toward digital assets, and while 28% isn’t pocket change, it’s way better than the roller-coaster crypto taxes other places have. So, pizza, pasta, and capped taxes—crypto enthusiasts in Italy are having a great time!

Fed Governor Waller: Stablecoins Need Guardrails Before They Run Wild

Federal Reserve Governor Waller is sounding the alarm on stablecoins, saying they need some serious regulation to avoid the risk of a sudden run. Basically, Waller’s message is that without a stable foundation, these coins could go unstable—fast. To prevent a potential crypto panic, Waller is calling for policies to make sure stablecoins stay, well, stable. Because while they’re meant to be “safe” assets, one market shakeup could make them look anything but. Waller’s takeaway? Better safe than sorry with stablecoin rules.

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Notabene Bags $14.5M in Funding for Crypto Compliance

Crypto anti-money laundering (AML) expert Notabene just scored $14.5 million in Series B funding, and they’re ready to step up the fight against sketchy transactions. With this cash boost, Notabene is doubling down on making crypto transactions more transparent and compliant—without sucking out all the fun. This isn’t just good news for the industry; it’s a win for regulators and anyone wanting a safer crypto world. So, with Notabene on the case, the crypto world just got a bit cleaner (and a bit more legit).

Coinbase Climbs to #21 on the App Store: Making Crypto Mainstream

Coinbase has climbed to the 21st most popular app in the U.S. App Store, showing that people are getting serious about crypto trading—or at least downloading the app. From newcomers to experienced traders, everyone seems to be flocking to Coinbase, proving that crypto isn’t just a niche hobby anymore. As Coinbase soars in popularity, it’s a clear sign that digital assets are becoming mainstream. If crypto is the new frontier, Coinbase is the app for everyone wanting a front-row seat.

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