Marco Manoppo

Marco Manoppo

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Something new ... Media @launchy_ Pod https://t.co/q4Fuv4BZqh Prev: Investing @primitivecrypto Research @DAR_crypto

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BlackRock’s spot Bitcoin ETF IBIT just saw a record $10B in daily trading volume. BTC fell nearly 15% in a single day, sliding from around $73,100 to about $60,000 and breaking below $70,000 for the first time in 15 months. > The heavy selling pushed IBIT’s price down 13%, its second worst daily move since launch, while trading activity surged well above normal levels. > The previous volume record was about $8B, and a typical busy day is closer to $3B. > The broader crypto market also took a hit, with total market cap falling from over $3T in late January to roughly $2.16T. > Despite the volatility, IBIT remains the largest spot Bitcoin ETF with roughly $56B in assets.

For those who are holding USDC or other stables. Consider lending to the OnRe markets. Major demand for users to have uncorrelated yields right now. No depeg and no forced unwind. Lend to the markets for more "senior" exposure to the best yield asset on @solana

Vitalik Buterin says Ethereum’s rollup centric roadmap no longer fully makes sense, as most L2s have decentralized far slower than expected while the base layer keeps improving. > The original idea was for L2s to act like branded shards of Ethereum, but in reality many remain highly centralized, often due to technical risk, incentives, or regulatory needs. > Only a small number have reached meaningful decentralization milestones. > Buterin is not dropping L2s, but reframing them as a spectrum rather than core Ethereum shards. > He argues L2s should offer value beyond scaling, such as privacy, non EVM designs, or ultra low latency, while Ethereum continues pushing base layer scaling with ideas like enshrined ZK-EVM proofs.

Kraken parent company Payward reported $2.2B in adjusted revenue for 2025, up 33% YoY. Trading made up 47% of revenue, while 53% came from non trading businesses such as custody, payments, yield, and financing. > Total platform transaction volume reached $2T, up 34% YoY, driven by sustained user engagement and growing assets on platform. > In 2025, Kraken ramped up diversification, highlighted by the $1.5B NinjaTrader acquisition, the purchase of prop trading firm Breakout, and the acquisition of Backed to expand into tokenized equities via xStocks. > Kraken also launched the Krak app, positioning itself as a payments focused super app with free transfers, cashback debit cards, salary deposits, and expanded wealth tools. > On the derivatives front, the exchange expanded across Europe and the UK, while its US platform added CME listed contracts spanning equities, FX, metals, and energy. > IPO speculation is growing after a Kraken backed SPAC raised $345M on Nasdaq, following a $200M investment from Citadel Securities that valued the company at $20B.

.@0xSimonJones from @reya_xyz thinks we’re about to see at least five more perp exchanges hit $1B+ FDV 👀

Tether reported over $10B in net profit for 2025, according to its latest attestation by BDO, confirming another massive year for the stablecoin giant. > USDT supply grew by more than $50B during the year, marking Tether’s second largest annual issuance ever. > Total USDT in circulation now sits above $186B, backed by $193B in assets, giving Tether $6.3B in excess reserves. > Most of the backing comes from US Treasuries, totaling around $122B, which effectively makes Tether one of the largest holders of US government debt. > The firm also holds about 140 tons of gold, supporting both reserves and its gold backed token XAUT. > In 2025, it also launched a US subsidiary and rolled out USAT, its fully US regulated stablecoin.

we're running back the AI agent meta sigh twitter.com/ManoppoMarco/statu...

Andre Cronje’s new DeFi project Flying Tulip has raised an additional $75.5M, pushing total institutional capital to $225.5M at a consistent $1B token valuation. > The latest $25.5M came from a private Series A round backed by Amber Group, Fasanara Digital, and Paper Ventures, priced the same as last year’s $200M seed round. > On the public side, Flying Tulip has already raised $50M through Impossible Finance’s Curated platform, with another $200M allocation lined up for CoinList starting next week. > Total soft commitments now sit around $1.36B, with roughly $400M of capacity left if current allocations fill. > All rounds are priced at $0.10 per FT token and include onchain redemption rights, letting investors burn tokens to reclaim their original principal. > Flying Tulip plans to deploy up to $1B of potential capital into onchain strategies across protocols like Aave, Ethena, and Spark, targeting around 4% annual yield to fund growth and buybacks.

Ranger Labs has raised $1.9M to expand its Solana based perpetuals aggregation product and layer AI powered trading tools on top of it. > @ranger_finance aggregates perp futures liquidity from multiple Solana venues, currently sourcing contracts from Jupiter and Flash, with plans to add Adrena and Drift. > The goal is to give traders deeper liquidity and better execution through smart order routing, rather than competing as a standalone exchange. > On top of this base, Ranger plans to introduce AI assisted trading products. > These include AI managed vaults that combine rule based strategies with data inputs such as market signals and social sentiment. > The team positions this as a natural extension of automated trading rather than a standalone AI product, with rollouts expected over the coming quarters.

CryptoQuant says Bitcoin holders are realizing net losses for the first time since October 2023, signaling a shift in onchain profit dynamics after more than a year of sustained gains. > According to the firm, realized profit momentum has been weakening since early 2024, with successive lower profit peaks across 2024 and 2025. > Over the past 30 days, this has flipped from profit taking to loss realization, with cumulative realized losses reaching the equivalent of up to 69,000 BTC since December 23, 2025. > CryptoQuant notes that the current pattern closely resembles the 2021 to 2022 bull to bear transition. During that cycle, declining realized profits preceded a broader market downturn. > Annual net realized profits have now fallen to levels similar to early 2022, while realized losses are tracking comparable patterns. > CryptoQuant concludes that declining net realized profits point to weakening price strength and frames the recent price rebound as a bear market rally rather than a durable recovery.

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