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$floki looking increasingly like its going to extend further. alot of these alts that looked like 5 up look to be extending here imo. Alt szn increasingly looking like its in full play

looking increasingly like a full blown altszn has started trying not to get too ahead of myself but all signs are pointing that way for now

We quite literally have never seen altcoin compression like this.

Pressure is building inside the Federal Reserve’s funding network as its balance sheet runoff drags on. According to remarks delivered Thursday by Roberto Perli, who manages the System Open Market Account at the New York Fed, the central bank’s continued effort to unwind its massive securities portfolio is tightening liquidity in the repo market, raising concerns over how short-term interest rates will be managed going forward. Speaking at an event co-hosted by the New York Fed and Columbia University’s School of International and Public Affairs, Roberto said that as reserves decline from “abundant” to merely “ample,” funding costs in overnight markets are starting to climb. He explained that the repo market is already showing signs of stress, and this shift means tools like the Standing Repo Facility (SRF) will now play a more active role in interest rate control. The Federal Reserve began shrinking its debt holdings in June 2022. But in April 2025, policymakers decided to ease up on how much they let run off. They lowered the monthly cap on maturing Treasuries from $25 billion to $5 billion, but kept the limit for mortgage-backed securities steady at $35 billion. The adjustment reflects rising sensitivity in short-term markets as liquidity becomes harder to maintain. Despite the tightening trend, cash parked at the Federal Reserve by commercial banks actually climbed to $3.24 trillion for the week ending May 14. That’s up from $3 trillion the week before, and just slightly below where balances stood when the Fed first launched its quantitative tightening program. Wall Street analysts believe that to avoid systemic liquidity stress, that figure must stay above $3 trillion to $3.25 trillion. Roberto noted that the rise in repo rates isn’t inherently alarming, saying, “It represents a normalization of liquidity conditions and is not a cause for concern.” But he also admitted the trend will increase the importance of the SRF in the coming months, stating, “In the future the SRF is likely to be more important for rate control than it has been in the recent past.” The SRF allows eligible banks and primary dealers to borrow overnight by offering Treasuries and agency debt in exchange for cash. It was designed to give the Federal Reserve more control over short-term rates without flooding markets with excess reserves. But Roberto admitted the facility is far from perfect. He said, “The more frictionless the facility is, the more effective it will be, and the lower the reserve buffer needed to account for the uncertainty that is inherent in monetary policy implementation.” To that end, he revealed that the New York Fed plans to make early-settlement operations a permanent feature in its schedule. These additional operations were already tested in December and March, two periods when repo rates typically spike as banks reduce activity to clean up balance sheets for regulatory reasons. Even so, the SRF hasn’t seen the kind of participation policymakers would like. Roberto pointed to a list of hurdles preventing firms from using it. Dealers are unable to net the transactions off their own balance sheets, and there’s a lack of clarity around how bids are awarded during operations. Both problems make it more expensive and uncertain for participants. “These frictions add to the costs that counterparties face when using the facility,” Roberto said. “They generally require private market repo rates to trade materially above the SRF minimum bid rate before using the facility.” He emphasized that these issues were especially obvious during the liquidity crunch in December 2024. The Federal Reserve isn’t walking away from QT just yet , but the funding strain is real, and officials are watching closely. Roberto’s remarks make one thing clear: the central bank’s efforts to shrink its presence in markets will now rely more heavily on technical tools like the SRF — tools that still have some serious kinks to work out. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Synthetix has called off its proposed $27 million acquisition of crypto options platform Derive. This decision was made after the initiative received strong criticism from both communities involved. The proposed acquisition, first announced in a May 14 blog post , involved a token exchange at a rate of 1 SNX to 27 DRV. The plan was designed to combine Synthetix’s established market presence and on-chain expertise with Derive’s off-chain matching engine to build a leading decentralized derivatives platform. However, the deal was subject to approval from both platforms’ communities, support that failed to materialize. “Synthetix has withdrawn SIP-415, the proposal to acquire Derive after reviewing community and stakeholder feedback,” said the protocol in an update. According to the team, the feedback revealed dissatisfaction with the token exchange terms and Derive’s valuation. On the crypto options platform’s public forum, one user named “Ramjo” said the token exchange rate “poorly reflects the value of Derive,” calling it the “equivalent of selling the bottom.” Another community member, “AlvaroHK,” described the deal as a “terrible proposal” that wouldn’t benefit it at all. They pointed out that Derive earns more revenue than Synthetix and warned about possible risks linked to the latter. This includes the recent depegging of its stablecoin sUSD, which fell to $0.68 in April, and its potential impact on the protocol’s treasury and token supply. In a follow-up, the user questioned why there was no mention of what would stop Synthetix from continuing to print more tokens, revealing that they found guidance showing plans to raise the SNX supply from 330 million to 500 million. They argued that this undisclosed detail would dilute the Derive offer by another 60%. Derive started as part of Synthetix in 2021 under the name Lyra, but later rebranded and moved to operate independently. This included shifting away from using the sUSD stablecoin and liquidity. If the re-acquisition had gone through, the company would have been issued with up to 29.3 million SNX tokens, with a lock-up period of three months followed by nine months of gradual release. However, with the token trading nearly 97% below its all-time high of $28.53 recorded in February 2021, the dilution risk and reduced value likely contributed to community hesitation. Despite ending the proposal, Synthetix said it will continue to look for strategic opportunities to achieve its goal of building a top decentralized derivatives platform on the Ethereum mainnet. This comes at a time of growing competition in the crypto derivatives space, with platforms like Binance, dYdX, and Hyperliquid all competing for dominance. Coinbase also recently announced a $2.9 billion deal to acquire Deribit, the largest digital asset options exchange.