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THE DAILY INDEX

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MARKETS & BUSINESS

TLDR Crypto

US SENATE VOTES TO CONFIRM PAUL ATKINS TO LEAD THE SEC

The Senate confirmed Paul Atkins as the SEC chair by a 52-44 vote, marking a promising step toward a crypto-friendly regulatory environment. His appointment, which follows a series of policy shifts and the formation of the crypto task force, is expected to streamline plans for oversight of the crypto market. Despite bipartisan support, some Democrats remain cautious due to his past ties to entities associated with FTX.

HOW USDT MINTS AND BURNS MOVE WITH BITCOIN PRICE CYCLES

USDT minting patterns have repeatedly aligned with Bitcoin's price cycles, with large issuances occurring during or just before bull runs and burning following market corrections. For example, minting events in late 2024 coincided with Bitcoin's rapid increase to above $100,000, while subsequent burns confirmed downward price movements. Although some mints occasionally signal upcoming rallies, burns validate in-progress market corrections.

NETWORKS IN CRYPTO VC

Crypto VC is dominated by extreme power laws, where a small number of funds consistently drive successful follow-on rounds and co-invest with preferred partners. By analyzing co-investment networks and follow-on probabilities, founders can better target high-performing VCs, understand the dynamics of capital aggregation, and improve their odds of raising future rounds. Strong GP relationships, not just fund names, are key to navigating this increasingly consolidated ecosystem.

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