Liquidity & Monetary Policy - The US government reopening is expected to lead to increased liquidity due to TGA spending over several months [1] - Quantitative Tightening (QT) is expected to end in December, leading to a gradual increase in the balance sheet [1] - The market anticipates the dollar to weaken [1] - Expect "temporary" measures like Term Funding and SRF operations to avoid a year-end funding squeeze [1] - Changes to the Supplementary Leverage Ratio (SLR) are anticipated in Q1 to allow banks to absorb more issuance and re-lever their balance sheets, acting as a significant liquidity boost [2] - Lower rates are expected as banks buy more bonds due to SLR changes [2] Fiscal Policy & Global Economy - Expect stimulus payments and fiscal stimulus to boost the economy [2] - China is expected to continue balance sheet expansion, and Europe may implement fiscal stimulus or extra spending [2] - The government aims to stimulate the economy leading up to the Mid-Terms [3] Regulatory & Legislative - Finalization of the CLARITY Act for crypto is expected [2]

The perp DEX airdrop playbook seems simple:- Open short on one DEX and...- ... a long on another for perp DEXsKey is to monitor funding spread to generate outrageous APYs (e.g., 1256% APR on $ZORA)Use funding rate arbitrage scanners like @LorisTools, @Arbitraxdexs or the one built by @prz_chojeckiIt sounds simple, but fewer people farm this way than you might think.Tracking funding rates takes effort.Technical farmers use bots, but even retail degen traders can benefit due to lower(ish) liquidity for alt pe ...

Core Insights - The company reported a 6.8% increase in Normalized Earnings per Share despite a slight decline in sales [1] - Free Cash Flow for Q3 2025 reached $320.9 million, an increase of $51.3 million from the previous year, attributed to effective cash management [6] - The company has successfully diversified its strategy, leading to growth in the Mobility segment and increased market share in the Industrial segment [3][4] Financial Performance - Sales for Q3 2025 were $2,541.7 million, down from $2,635.7 million in Q3 2024, while net earnings rose to $169.2 million from $138.0 million [5] - Normalized Operating Earnings increased by 87.7% to $165.9 million, with margins expanding to 8.6% [6] - The company maintained a strong liquidity position of $2.2 billion, up 54.9% from Q3 2024 [6] Shareholder Returns - The company declared a quarterly dividend of CDN$0.29 per share, payable on or after December 2, 2025 [10] - The Toronto Stock Exchange approved the renewal of the Normal Course Issuer Bid, allowing the company to repurchase up to 3,850,534 shares over the next 12 months [9] Strategic Acquisitions - The company announced the acquisition of Georg Fischer's Leipzig casting facility and Aludyne's North American assets, enhancing its manufacturing capabilities [7] - These acquisitions are expected to contribute significantly to the company's growth strategy for 2026 [8] Segment Performance - The Mobility segment showed strong performance, with operating earnings of $161.1 million, while the Industrial segment faced challenges with earnings of $89.8 million [5] - The company increased its market share in aerial work platforms and newer agricultural products despite a decline in industrial markets [3]

aerodrome controls 53% of base's $4.7b defi tvl through ve(3,3) mechanics. protocols stopped burning treasuries on mercenary farms and started accumulating veaero positions instead. 45% of aero supply locked for average 2.8 years. seamless extra inverse moonwell all building permanent voting power. $2m-4m weekly bribes generating 35-45% apr from real fees not inflation. protocols get $3-8 liquidity value per $1 in bribes. aero at $1.30 trading 12x fees vs uniswap at 25x. ...

Bitcoin dropped below $100,000. The fear and greed index is flashing fear and over a billion dollars in leveraged positions were wiped out in a single weekend. Yet, just as the bears were sharpening their claws, the price ripped back above $15,000.What on earth is going on. Is this just a dead gat bounce before a much deeper crash. Or was this the final brutal shakeout before the next explosive leg up to new all-time highs.Well, today we're going to dissect the anatomy of Bitcoin's perplexing price action. ...

Core Insights - Bitcoin's volatility is awakening after a period of dormancy in 2025, indicating a phase of increased price fluctuations and uncertainty [1] Volatility Trends - The 30-day implied volatility index (BVIV) has recently surged past a trendline, confirming a bullish breakout with an annualized volatility of 73% [2] - Analysts attribute the sustained elevated volatility to shifts in market flows, weaker liquidity, and ongoing macroeconomic concerns [3] Market Dynamics - Long-standing volatility sellers, including OG holders, miners, and whales, have reduced their activity, which previously dampened price swings through aggressive call overwriting [4] - Following a significant selloff on October 10, where Bitcoin dropped from nearly $120,000 to $105,000, these sellers have retreated, leading to fewer call overwrites and an increase in implied volatility [5] Demand for Hedging - There is a growing demand for downside put protection among institutional investors as spot prices decline, indicating a shift in market sentiment [6] - The combination of limited volatility supply, increased demand for downside hedging, and a structurally weaker liquidity environment suggests that elevated volatility levels may persist [7] Liquidity Concerns - Liquidity has weakened significantly since the October 10 crash, making prices more sensitive to large buy and sell orders [8] - Market makers faced heavy losses during the crash, with forced liquidations amounting to $20 billion, leading to a reduction in trading activity due to concerns over automatic deleveraging mechanisms [9]

What's the next step. The title report. The next step for China's bull markets, where they'll look for the next step.Yeah, I think, you know, for next year we still remain bullish. To me, I think the big change is really the global monetary order reconstruction from a, you know, strong dollar to a weak dollar and then from China us constantly in the trade negotiations to a G-2 framework. And then probably more importantly is the deep sea moment, not just in Asia but many other industries where there is a ma ...

Love the big debate on which rev model is better:- Lock and redistribute tokens to stakers (veModel)- Buy back & burn- Other?Curve's research concludes veCRV locking "superior impact on token scarcity."True, but ve tokens are only temporarily out of circulation.Eventually they CAN unlock and CAN hit the market again (though Convex et al. protocols DO PERMANENTLY lock those tokens)(although crypto. com scammors unburnt the burnt tokens anyway).I still like staking and locking because non-participants subsidi ...

Looks like we're getting very close to the shutdown. >> If you hold cryptocurrency, three big liquidity events are lining up. This affects you and will affect crypto.Number one, the government shutdown for the US appears to be ending after the United States Senate votes yes. On this vote, the yays are 60 and the nays are 40. Three-fifths of the Senate duly chosen and sworn having voted in the affirmative.The motion upon reconsideration is agreed to. So, the Senate has voted to reopen. This now goes to the H ...

RT Hayden Adams 🦄 (@haydenzadams)Today, I’m incredibly excited to make my first proposal to Uniswap governance on behalf of @Uniswap alongside @devinawalsh and @nkennethkThis proposal turns on protocol fees and aligns incentives across the Uniswap ecosystemUniswap has been my passion and singular focus for the past 8 years. What started as a small side project is now global financial infrastructure powering thousands of applications with ~$1.8 trillion in annual tradingUNI launched in 2020, but for the past ...