First Mover: Bitcoins Hit Exchanges as Bloomberg Touts Crypto and DeFi Hedge Fund Seeks $50M

What's surprising is that options trading on notoriously volatile bitcoin prices, which often trade in sync with stocks, implies a stretch of uncanny calm come November, CoinDesk's Omkar Godbole reported Tuesday.

The implication could be that bitcoin decouples at that point from the U.S. market.

"The U.S. elections will have relatively less impact on bitcoin compared to the U.S. equities," Richard Rosenblum, head of trading at the digital-asset firm GSR, told Godbole.

Crypto investment firm Panxora seeks $50M for new hedge fund to buy DeFi tokens.

With total collateral locked into automated, blockchain-based DeFi trading and lending platforms surging more than 20-fold this year to $13 billion as of last week, big centralized cryptocurrency exchanges like Binance, Coinbase and OKEx have rushed to list the tokens and roll out DeFi offerings to avoid missing out.

Now, one cryptocurrency money manager, Panxora, seeks to raise up to $50 million for a new hedge fund to buy digital tokens associated with the fast-growing decentralized finance sector.

In an ironic twist, Panxora's announcement comes just as the DeFi market appears to be cooling.

On Tuesday, the net inflow of bitcoin to exchanges was 36,800 BTC - the biggest single-day rise since the markets crash on March 13, according to data source Chainalysis.

"Since Sept. 20, the net daily inflow of bitcoins to exchanges have been increasing and trade intensity has been declining," Philip Gradwell, an economist at Chainalysis, told CoinDesk.

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