Bitget reports a $352m hack as new interviews shed light on institutional crypto conviction. Today's Ahead of the Curve Podcast also covers Binance’s Circle investment and a Bitcoin privacy proposal. Listen: podcast.k33.com/

This week we cover the $352m Bitget hack, Binance’s $100m investment in Circle, new developments in Bitcoin privacy and the CFTC’s push toward tokenized markets. In this week’s deep dive, we look at how institutional investors are approaching crypto. k33.com/research/articles/bi…

Audio version of our latest K33 Research report is out. A pretty significant change in the BTC setup this week: • BTC +10% and highest since January • First major higher high of the drawdown • Back above ETF cost basis after 236 days • 14k+ BTC of ETP inflows on Monday • Derivatives activity rising, but still no obvious leverage excess The big question now is whether the external capital keeps coming. 🎧 podcast.k33.com/

As unknowns became knowns, capital returned to BTC, lifting it toward the yearly open. Technical, structural, narrative, and seasonal signals remain encouraging, supporting our bullish bias, though rising yields point to growing risk appetite. k33.com/research/articles/al…

CLARITY failed. The Fed hiked. Bitcoin barely flinched. That was the setup we highlighted earlier this week: both adverse outcomes were already heavily expected, while leverage and positioning remained relatively clean. Since then, the regulatory story has shifted fast: • SEC opens a temporary route for certain tokenized U.S. stocks • CFTC expands no-action relief • Congress keeps moving on narrower crypto bills • Deutsche Bank prepares institutional digital-asset custody Latest Ahead of the Curve Podcast: 🎧 podcast.k33.com/

The procedural Clarity Act vote failed, with both the SEC and CFTC moving quickly to address parts of the regulatory gap through existing authority, though without the permanence or broader scope that legislation would provide. k33.com/research/articles/cl…

Bitcoin is pricing in a fairly grim week. BTC is back around $77k. Odds of CLARITY becoming law this year have fallen to ~19%. And markets overwhelmingly expect another Fed hike tomorrow. But leverage is low and positioning is balanced. That creates an interesting asymmetry: the adverse outcomes are increasingly expected. A positive surprise is not. In the latest Ahead of the Curve, we look beyond this week’s headlines at why Bitcoin’s broader market structure increasingly resembles a post-bottom environment. 🎧 podcast.k33.com/

Back-to-back catalysts ahead. Markets are positioned for a hike and failed Clarity vote, skewing surprise to the upside. If either event lands better than expected, BTC has room to react sharply higher, while downside looks more contained. k33.com/research/articles/go…

CLARITY faces its first real Senate test on Monday. A revised 630-page draft is out, but the central ethics dispute remains unresolved and Democratic support still looks thin. Also this week: • Hyperliquid joins the fight over U.S. perpetuals • Nasdaq invests $100m in Kraken parent Payward • Quantum attack estimates get more efficient • Tether pushes into private credit 🎧 Latest Ahead of the Curve podcast.k33.com/

Researchers found a more efficient step toward a future quantum crypto attack, while Tether launches $400M USDT-linked private credit fund. In Trending Topics, we cover the rapidly approaching Clarity Act cloture. k33.com/research/articles/cl…

ICYMI: Low Leverage, Big Catalysts Ahead podcast.k33.com/episodes/low…

Bitcoin is flat. The setup isn’t. Leverage is low, positioning is cautious, and the next eight days bring: • CPI • CLARITY vote • FOMC • Potential renewed Strategy BTC buying Plus: Hyperliquid is now the third-largest venue for BTC perp open interest. 🎧 Latest Ahead of the Curve podcast.k33.com/

BTC’s price action has tracked shifting expectations for the Sept. 16 U.S. rate decision. With PPI, CPI, FOMC and a Clarity Act cloture vote ahead, may BTC finally break out of its current range after two weeks of stagnant chop? k33.com/research/articles/se…

Perpetual futures are moving toward regulated U.S. markets, while traditional stocks are moving onchain. Coinbase is pushing for 24/7 equity perps. Hyperliquid is pursuing a regulated U.S. route. And Robinhood Chain is already showing what happens when tokenized stocks meet DeFi and memecoin liquidity. Latest episode of Ahead of the Curve: 🎧 podcast.k33.com/

Several moves have been made in recent weeks to launch equity perps in the U.S., while the CFTC is seeking to dismiss CME’s lawsuit over crypto perps. In Trending Topics, we cover some of the quirks from Robinhood Chain’s early days. k33.com/research/articles/mu…

ICYMI: Every week we are turning our reports into podcasts for those who prefer to listen 🎧

Bitcoin rallied 23% and then… basically went sideways. That’s a healthy follow-up. Leverage remains subdued, options positioning is balanced, August delivered the strongest monthly BTC ETF inflows since November 2024, and Strategy is buying Bitcoin again. Latest episode of Ahead of the Curve: 🎧 podcast.k33.com/

Market signals remain healthy overall, with soft derivatives activity, encouraging ETF flows and spot volumes cooling from last week’s extreme levels, as BTC spends the past week in tight consolidation. k33.com/research/articles/ab…

Crypto keeps moving deeper into traditional finance. Coinbase One users can now pledge Bitcoin or USDC toward a mortgage. Schwab is expanding beyond BTC and ETH. The SEC is updating custody rules for digital assets. And one of the bigger risks from earlier this summer has faded: Strategy now has roughly 39 months of dividend and interest coverage. We unpack it in the latest This Week in Crypto. 🎧 podcast.k33.com/

Crypto mortgages launch for Coinbase One users, the SEC proposes changes to crypto custody rules, and Schwab expands crypto support. In trending topics we discuss how the risk of BTC sales from Strategy has declined over the past months. k33.com/research/articles/th…