Bits + Beeps: Market Chaos, Fed Missteps, and Harris’ ‘Crypto Reset’

Asymmetric’s Chris Cecere joins the podcast to analyze last week’s selloff in cryptocurrency markets, where things might be headed from here, and whether the Biden-Harris administration is sincere in its plans to overhaul its cryptocurrency policies.

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In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann sit down with Chris Cecere of crypto investment firm Asymmetric to make sense of the latest market volatility and the factors driving it.

From the impact of the carry trade on the yen to the Fed’s controversial interest rate decisions to potential signals from Jackson Hole, the discussion gets to the heart of what’s moving markets. The panel also delves into the SEC’s crackdown on Ripple, the ongoing drama surrounding wrapped bitcoin (WBTC) custody, and whether the Biden-Harris administration is actually considering a “crypto reset” or is just political posturing.

Highlights of the show:

• Is the Yen Carry Trade Responsible for the Recent Market Sell-Off and the Concept of Value at Risk (VAR)
• How Asymmetric Managed Sell-Off Volatility Using a Strategy Called “Delta Replacement”
• Why the Volatility Index (VIX) Soared and Could It Do So Again?
• Why Alex Thinks Unemployment Numbers Triggered Panic and What is the Sahm Rule
• What could have triggered Jump Trading’s sudden liquidation during a massive market sell-off, and will other funds face similar pressures?
• Why the market and big banks like JP Morgan agreed the Fed missed its target by not cutting rates in July
• What key signals could the Fed send at Jackson Hole about the future of interest rates and the end of quantitative easing?
• How important is the timing of the first interest rate cut in determining whether it will be bullish or bearish for markets?
• What Ripple’s Lawsuit Settlement and SEC Subpoenas to VCs Mean for the Broader Crypto Industry
• Will Harris Really Do a “Crypto Reset”?
• The drama surrounding the custody of wrapped bitcoins (WBTC)

Hosts:

Guest:

• Chris Cecere, GP and Head of Global Macro and Trading at Asymmetric