Credo is a proprietary trading firm specializing in digital assets. Research & curated headlines from our desk.
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Excited to share that we're expanding the desk.
Hiring junior and senior traders.
Juniors get to learn how vets with decades in the markets think and position. Seniors get the capital to run their edge properly.
Seats are limited, so don't sit on this one.
credo-v.com/careers
Credo doesn't open its doors often.
We're opening them again.
How good are you at trading?
Do you know what digging in means?
Do you know when to keep clicking?
Do you know the difference between being down and being wrong?
Good.
We have the capital.
We have the technology.
We have the hub.
We have the traders.
We're looking for talent.
We build traders, and we back them with real capital.
No pedigree required.
No fame required.
No bullshit required.
You can be smart, fast, rich, broke, known or completely unknown.
If you can trade, we want to know.
Seats are limited.
Talent is rare.
Credo is open again.
Go for it.
Find our website in the bio @credo__v
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25 seconds early on $HYPE
5 minutes early on the Binance drain
Sorry to everyone who found out late.
t.me/CredoWire
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*RECALL FOUNDATION WINDS DOWN, PLANS 358.6M RECALL TOKEN BURN AND LIQUIDATION IN CAYMAN: X - @recallnet
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BINANCE BUYING BACK STOLEN TOKENS ON THE OPEN MARKET AND OTC
Binance says it is completing the purchase of the remaining amount by buying token assets through market channels and OTC. Losses from the hack are estimated at about $6.3B. The largest alts drained on Ethereum: $UNI $47M, $ENA $41M, $PEPE $38M, $LINK $28M, $AAVE $16M, $ONDO $8.5M, $WLD $7M, $ZRO $6M.
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Binance’s SAFU fund and Binance’s holdings include a large amount of assets such as BTC and ETH. We are currently buying, through OTC and on-exchange, all the stolen altcoins in fully matching amounts. We will update everyone again once the purchases are complete.
币安的SAFU基金和币安持有币种包括大量的BTC和ETH等资产，目前正在通过OTC和场内买入完全匹配被盗的所有山寨币来完成POR，购入完成后再次为大家同步信息。
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*UNCONFIRMED, BUT POSSIBLY MASSIVE BINANCE HACK. ENTIRE BINANCE WALLET DRAINED INTO NEW EOA. CONTRACT CALL WAS FUNDED BY TORNADO CASH - @spreekaway
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NYSE owner ICE is building on Hyperliquid.
ICE and trade[XYZ] plan a dedicated US market for 24/7 perpetual futures on Hyperliquid with new exchange and clearing infrastructure, subject to CFTC approval.
Contracts would span equities, indices, commodities, FX and crypto, accessed through US brokers. ICE takes a strategic stake in trade[XYZ], and Stan Druckenmiller is also investing.
If that wasn’t enough, Elon Musk quoted Stan’s post with one word "Interesting”.
hyperliquid:native went from under $80 to $97.2 in the six hours after the headline.
Headlines like this land first on our wire: t.me/CredoWire
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trade[XYZ] and ICE, owner of the New York Stock Exchange, are joining forces to bring 24/7 perpetual futures on Hyperliquid to the United States.
In just over a year, our markets on Hyperliquid have surpassed $650 billion in volume. They provide continuous price discovery for stocks, indices, and commodities, and have become trusted reference points for retail and institutions alike when traditional markets are closed. Much of the world trades them. Until now, Americans could only watch.
We intend to change that. Subject to CFTC approval, trade[XYZ] and ICE plan to establish a new, dedicated U.S. market, with novel exchange and clearing infrastructure built on Hyperliquid. Planned contracts span equities, indices, commodities, FX, and crypto, with access through participating brokers and platforms. We’ll share more on products, eligibility, and timing as approvals progress.
ICE brings more than 25 years of experience operating regulated markets, clearing, and managing risk. trade[XYZ] brings the product development, market design, and technology behind the most liquid and robust markets on Hyperliquid.
Innovation and the protections of U.S. regulation shouldn’t be a trade-off. Together, we plan to prove it.
ICE is making a strategic investment in trade[XYZ] and joins us in building towards the future of Hyperliquid. A small group of market luminaries is joining as well, beginning with Stan Druckenmiller. For more than four decades, few investors have anticipated the great turns in markets as often as Stan. We’re proud to have him with us for the next one.
We’re building the U.S. market in parallel with our existing HIP-3 markets, which we’ll continue to expand and innovate on. We expect both to flourish. They each have a long road map ahead, from new asset classes to new ways to trade them.
To the Hyperliquid community, whether you were here before us or came because of us, thank you. You took a chance on new markets and you made them matter. You’ll forever be a part of this story.
Anything. Anytime. On ICE[XYZ].
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Macro took a breather but crypto didn’t join in yet.
Nasdaq bounced 1.1% on Monday, recovering about a third of Thursday’s 2.9% drop, and S&P added 0.7%. Brent is still holding above $110, the US 10Y sits just under 5%, and FOMC decides tomorrow. EWZ closed down 19.8% after Lula won the runoff and Bolsonaro moved to annul the result.
Majors are still bleeding. $ETH and $SOL are heading for a sixth straight red daily close, and $BTC hasn’t put in a meaningful up day since Wednesday. $BTC is sitting right on $80K, its lowest level since mid September, and $SOL is at $100. $ETH has slipped to $2,311, its lowest since mid August.
- Kraken parent Payward plans to run US perps on Hyperliquid HIP-3, pending regulatory approval
- USDAI bought back $1M of $CHIP across exchanges, and $CHIP is up about 10% over 24h
- $AKT vote to move the chain to Solana is set to pass.
Next up: Ondo’s Robinhood Chain reveal today $ONDO, FOMC tomorrow, and Fluid introduces DEX v2 at its Q3 call this week $FLUID
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*KRAKEN PARENT PAYWARD AIMS TO BE FIRST CFTC-REGULATED HIP-3* DEPLOYER ON HYPERLIQUID, USING BITNOMIAL TO RUN US PERP MARKETS: X - @HyperliquidX
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Credo retweeted
Quantum computing timelines are shrinking faster than markets appreciate.
And institutional allocators are already pulling back from Bitcoin and Ethereum exposure because of it.
@credo__v makes the case on LiveSquawk Market Talk. Out now.
🎧 YouTube: piped.video/watch?v=hH5m-A-e…
🎧 Spotify: open.spotify.com/show/7zbula…
#Bitcoin #Ethereum #QuantumComputing #Crypto #LiveSquawk
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Crypto gave back Tuesday’s rally as risk assets turned lower on oil, war headlines and French debt.
Brent’s December contract rose 3.0% to about $112, near its highest since May, as fighting in the Iran and Ukraine wars continued despite diplomatic efforts earlier in the week. France’s 10 year spread over Bunds widest since 2011. Nasdaq futures are down 2.7% and gold is down over 2.4%. The FOMC decision is due next Wednesday.
$BTC peaked at $84.8K Tuesday evening and is back to $81K. $ETH is down over 4.4% and the altcoin benchmark is down 5.2%. Breadth is the weak. 420 of 452 names are red, the median alt is down 5.8%, and only 2 of 64 large caps are green.
Corporate side -Visa is in late stage talks to buy Fireblocks for about $2.5B per Axios and A16z is renaming its flagship crypto fund a16z Frontier per The Information.
- $CC approved its universal burn proposal
- $UNI rolled out aggregator hooks
- $LIT applying for a US derivatives license application next month.
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A quiet weekend with one sharp liq cascade. Majors finish flat since Friday’s close and altcoins trail.
Late Saturday stock perps on crypto venues sold off together around 21:30 UTC. Chip and AI names fell up to 11% while $QQQ slipped under 1%. Crypto also moved at the same time as $BTC fell 1%, $ETH 2.6% and the altcoin benchmark 2.9%. The gaps closed once US index futures reopened on Sunday evening.
Since Friday’s close, $BTC is up 0.5% at about $82K, $ETH is down 0.6% and the altcoin benchmark is down 3.5%. Spot ETFs saw net outflows in the week to 16 Oct: $228M from BTC and $320M from ETH.
On the alt side,
- $WLD named Bain Capital, VanEck etc as World ID suite design partners
- Dromos Labs says $AERO will launch a prediction market style primitive for spot trading
- Phala Foundation teased expanded ethereum:0x6c5ba91642f10282b576d91922ae6448c9d52f4e utility - details due this week
- $STRK non binding vote on becoming an independent post quantum L1 is running at 99.93% yes.
$ZRO ann of ann tomorrow, $AERO merger and $LIT Q3 call on 21 Oct.
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CPI set the tone today. US core inflation ran hotter than expected in September, up 0.3% on the month against 0.2% forecast and 2.6% on the year, with headline at 3.7% on a jump in gasoline.
Risk sold off across the board. Nasdaq is down 2% and the S&P 1.3%, Gold fell 1.5% and the dollar firmed.
$BTC slid from $83.8K before the print to about $81.7K and $ETH to $2,430, with only 58 of 453 alts green.
On the alt side
- $WAL is up 75% since Friday, the week DATA Network moved to Sui with Walrus as default storage
- DRW and Marex closed the first OTC swap on $CC CANTON
- Solana set its Alpenglow upgrade for Oct 21 and
- MSCI rules on whether $MSTR and other crypto treasury companies stay in its indexes by Oct 16
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