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Bitcoin Dips, Throw in the Chips
All the defi, crypto, web3 news you need in one scroll
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Rallying into Fourth of July
Chinese bankers are flocking to the communist party, Salesforce shareholders rejected its CEO’s pay plan, the SOFR hit a YTD high, traders are betting on a Trump re-election, and the S&P and Nasdaq hit fresh milestones heading into the long weekend.
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Slow Start to Q3
ML will make decisions at Bridgewater’s newest fund, Millennium returned 6.9% in H1 (nice), DEA called Citigroup money launderers’ favorite bank, the Boston Celtics is for sale, and the average S&P stock is up barely 4% this year.
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SONY’s New Crypto Exchange
All the defi, crypto, web3 news you need in one scroll
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Nvidia 500
AI continues to carry the entire stock market, Bain is pulling back from work in China, US banks hiked Q3 dividends, Amazon is pivoting into an AI company, and the presidential debate became the meme of the weekend.
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In Solana VE Trust
All the defi, crypto, web3 news you need in one scroll
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AI-Driven Crypto M&A
UK PE leveraged loan defaults are soaring, US IPOs are having their best start since 2021, Asia M&A fees hit a decade low, SCOTUS stripped SEC of major enforcement powers, and crypto caught M&A fever.
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“My daddy works at Morgan Stanley😎”
Q1 private credit returns were nearly double of PE, all major US banks passed the Fed’s stress test, the US convertibles market is booming, consultants are reaping big from AI-related work, and an ex-Segantii trader’s pay lawsuit took an embarrassing turn.
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Crypto’s Greed –> Fear Free Fall 📉
All the defi, crypto, web3 news you need in one scroll
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a16z PE
a16z is moving into PE, PJT’s founder expects dealmakers to move from big banks to boutiques, machines are taking the helm at AQR, Amazon is working on a ChatGPT rival, and on-cycle PE recruiting kicked off in the most meme-worthy fashion…
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Mega-Fund-Raising Frenzy
HPS raised the largest-ever private credit fund, KKR is eyeing its biggest buyout fund yet, Bobby Jain’s hedge fund is debuting with over $5B, Premier League clubs are projecting record revenues, and Julian Assange is set to walk free.
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Much Needed European Charity
US credit spreads widened amid political uncertainty, Asian L/S strategies are beating out global peers, emerging market currencies are struggling, Carlyle is betting on a slow energy transition, and American tourists are driving Europe’s economic engine.