logo
The Best Leaders Encourage 'Spacious Thinking'

The Best Leaders Encourage 'Spacious Thinking'

Soren, an executive in charge of the archives at a global arts institution, was told that he needed to deliver immediate cost savings and that layoffs were likely. Rather than thinking narrowly and simply demanding budget cuts from his direct reports, Soren convened a meeting with his department to discuss the broader question of its purpose and sustainability.
The team's conversation led to the recognition that there were overlooked assets in the archive that might be used for a new program. This idea eventually led to a top-line contribution of tens of millions, and reductions in workforce were avoided. In contrast, other departments in the institution simply moved forward with cycles of layoffs which reduced morale and led to burnout.
For the last few years we have been researching two modes of attention that people use at work: doing mode, in which people pay narrow attention to a specific task in order to control, predict and get it done efficiently; and spacious mode, in which people pay attention more expansively, without hurry, making them more receptive to relationships, interdependencies, and possibilities—like Soren's approach to cost-cutting. Spacious mode leads to critical benefits in the workplace, such as gaining insight into challenges, thinking strategically, spotting opportunities, building relationships, and sparking joy and motivation.
Unfortunately, we've found that spacious thinking is regularly suppressed in favor of doing mode in organizations. This is hardly a surprise. We are living in a time of cultural obsession with productivity and achievement across all spheres of life. Our research—which has included a global survey of more than 3,000 employees, ongoing discussions with 50 global professionals, and interviews with leaders and those they lead—shows that employees looking to excel worry that shifting into spacious mode can be interpreted as a lack of efficiency or urgency. As a result, it feels career-limiting, and like it requires permission from a manager, so few employees do it regularly.
While all employees have some agency to shift to spacious mode, leaders play a crucial role in making it more accessible at work because they can legitimize it as a good way to spend precious time (or not). In this article we'll show how leaders often unknowingly discourage spacious thinking on their teams, and what they can do to help instead.
How Leaders Get in the Way
Leaders and managers are the key to encouraging spacious thinking because their behaviors signal what is acceptable. Too often, managers are narrowly focused on achieving the next short-term deliverable which means their teams are stuck in doing mode too. And though the team's to-do list gets ticked off, there is no way of knowing whether those to-dos were the right ones, no space for a team to grow, no joy or interest to discover what is possible. This can suck the life out of a team.
One senior manager we came across in our research was infamous in her organization for her catchphrase: 'Be clear, be quick, be gone.' In our conversations with her team and colleagues, it became clear that less-confident employees kept quiet around her and declined to raise complex, important challenges that would require inquiry and exploration.
You may think that, unlike this manager, you already engage in spacious mode, so you don't need to worry. But leaders tend to overestimate how spacious their own behaviors are. For example, our research has shown that the more senior we are in a hierarchy, the more we think we are open to hearing others, when we are really not. Similarly, in our experience facilitating meetings, leaders almost always underestimate how much airtime they take up.
Leaders also tend to mistakenly believe that it's easy for their direct reports to move into spacious mode without permission—or that it would be easy to ask for that permission. This is driven by ' advantage blindness,' which can cause those with higher standing in a hierarchy to underestimate the power they hold and the impact it has. Therefore leaders overestimate how approachable they are and how able those lower on the hierarchy are to choose their own course of action.
How to Encourage Spacious Mode
To give employees permission to spend time thinking, learning, innovating, and collaborating, you'll need to rethink how you communicate and which behaviors you reward. For example, Toni, a regional manager at a large U.S. retailer we spoke with during our research, counted herself lucky: 'My chief people officer has a real sense of spaciousness around her and the way she shows up. I feel like I've got a lot of permission and protection from her in my role.'
Our research points to three behaviors of leaders and managers who enable their teams in this way:
Focus on ideas instead of tasks.
One of us (Megan) was working with a CEO who wanted his senior team to focus more on the bigger picture rather than day-to-day operations. Through their conversations, he realized that in his meetings he almost inevitably focused first (and often solely) on quarterly results. To expand the team's thinking, Megan suggested that he begin some meetings by asking, 'What hasn't gone well over the last few weeks, and what have you learned from that?' or 'How have you developed your team recently?' Over time, the team's conversations naturally began to shift more toward group-wide perspectives that bolstered their learning and development.
Our survey showed that many employees feel that tasks are consistently prioritized over more spacious topics. They ranked learning, values, purpose, creativity, and relationships as topics they'd like to talk to their managers about above tasks. Managers need to structure meeting agendas in a way that includes these spacious-mode topics.
Bring in novelty.
We often meet in the same places, follow the same agendas with the same people, and assume that the same process can meet any number of different outcomes.
It's almost heretical to suggest that a meeting doesn't have to end with actions to add to our already over-stuffed to-do lists. However, other outcomes might be far more important. For example, at a recent meeting at a life sciences company, participants told one of us (John) they found it 'cathartic and hopeful' that the agenda had been specifically designed to be an inquiring conversation rather than their usual action-focused drills. In the weeks following the meeting, participants' senior leadership reported feeling an increase in the team's energy to the point that they felt comfortable shifting away from their usual directive control. As a result, speed of decision making ramped up and the market agility that had been espoused came to life, as staff in the U.S. and Europe felt trusted to use their own judgment in co-ordinating their work.
External facilitators and invited guests can bring in fresh ideas and perspectives. For example, different venues can inspire different sorts of conversations: a walk-and-talk or meeting outside might engage a more open mind than the goldfish bowl of a glass-walled meeting room in the bowels of a building.
One manager we worked with bought his team a new book every quarter, which focused on a different sector or a broader industry- or society-wide issue, and then put some time aside to discuss what they'd read together. Other executives encourage their teams to get out of the office to experience the world as their customers do. When they do, the teams explain to us that these efforts help them to bring the wider context back into view, and that leads to valuable conversations about strategy and purpose. Encountering novelty jolts them to course-correct, keeping on track with customer demands rather than losing sight of those amidst shorter-term tasks and targets. The conversations also strengthened relationships in the teams, through sharing experiences and listening to different viewpoints.
Value and reward spacious mode.
Typically people who are visibly busy and get things done get rewarded. While there is nothing wrong with this—certainly doing mode is vital to high-performing teams—it needs to be complemented with recognition of team members who listen, explore, challenge, and invite the rest of the team to look up and around.
Elaine was introduced to us by her peer, Ben, who had recommended we speak to her for our research. He noted that in the high-pressured transformation project they were leading, Elaine had, on several occasions, challenged the team's viewpoint in a meeting and forced them to consider alternative courses of action. At the time, he reflected, there was some frustration in the team at being held up, but the team agreed that the decisions they ended up making in the spacious mode that Elaine had brought into the conversation were wiser than those they had been about to make while in doing mode. Elaine and Ben's manager recognized this not simply by complimenting Elaine, but by spending time explaining how her attention had benefited the program. After this, when the team faced an important, adaptive challenge, they were more comfortable in pausing to examine and challenge key decisions.
Spacious mode might be hard for you to see as a manager. Consider how your biases might play into this: The same behavior that in one employee may be labeled as annoying, wasteful and lazy, when practiced by someone else (especially someone who is already more powerful) can be seen as strategic and evidence of their readiness to continue moving up the managerial hierarchy. If you are dismayed to see a team member step back from doing mode, ask yourself whether they're actually engaged in spacious mode.
We have created managerial and organizational norms which over-privilege doing mode and hide the value of spacious mode. But only when insights from spacious mode guide teams' actions in doing mode can leaders be sure that team members are focused on doing the right work in the right ways. There needs to be a rebalancing of the relationship between these modes if organizations are to thrive and perform.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Ledn launches Bitcoin Private Wealth Program for high net-worth clients
Ledn launches Bitcoin Private Wealth Program for high net-worth clients

Yahoo

timean hour ago

  • Yahoo

Ledn launches Bitcoin Private Wealth Program for high net-worth clients

Ledn launches Bitcoin Private Wealth Program for high net-worth clients originally appeared on TheStreet. Bitcoin lending firm Ledn has launched its Private Wealth program, targeting high-net-worth individuals, institutions, and corporates seeking to borrow against their Bitcoin holdings for a long term. The program, designed for clients with at least $250,000 in active loans, aims to create a more formalized way to receive personalized service that has historically been provided informally. Some of the benefits include faster processing of funds, relationship managers, and discount loan rates for loans exceeding $1 million. Clients will also have access to loan rebalancing and events hosted by Ledn's executive team. The move indicates that an increasing number of crypto investors are employing techniques like Strategy's, which involve borrowing against Bitcoin to obtain funds without selling their coins. Ledn stated that last year it processed $2.4 billion in loans, as more people sought flexible, Bitcoin-backed financing."Clients are using these loans for things like real estate or business investment while keeping Bitcoin exposure," said Ledn co-founder Mauricio Di Bartolomeo. 'The Private Wealth program gives them the tools, speed, and trust to operate at scale.' The move from Ledn comes at a time when traditional banks, such as JPMorgan, are exploring crypto-collateralized lending. Unlike previous competitors, Ledn says it has spent the last few years establishing the necessary infrastructure around risk management and custody in this space. The company also emphasized its commitment to transparency, citing its monthly Open Book Reports and a proof-of-reserves process that a public accounting firm had audited. Ledn launches Bitcoin Private Wealth Program for high net-worth clients first appeared on TheStreet on Jul 25, 2025 This story was originally reported by TheStreet on Jul 25, 2025, where it first appeared. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data

AI referrals to top websites were up 357% year-over-year in June, reaching 1.13B
AI referrals to top websites were up 357% year-over-year in June, reaching 1.13B

Yahoo

timean hour ago

  • Yahoo

AI referrals to top websites were up 357% year-over-year in June, reaching 1.13B

AI referrals to websites still have a way to go to catch up to the traffic that Google Search provides, but they're growing quickly. According to new data from market intelligence provider Similarweb, AI platforms in June generated over 1.13 billion referrals to the top 1,000 websites globally, a figure that's up 357% since June 2024. However, Google Search still accounts for the majority of traffic to these sites, accounting for 191 billion referrals during the same period of June 2025. One particular category of interest these days is news and media. Online publishers are seeing traffic declines and are preparing for a day they're calling 'Google Zero,' when Google stops sending traffic to websites. For instance, The Wall Street Journal recently reported on data that showed how AI overviews were killing traffic to news sites. Plus, a Pew Research Center study out this week found that in a survey of 900 U.S. Google users, 18% of some 69,000 searches showed AI Overviews, which led to users clicking links 8% of the time. When there was no AI summary, users clicked links nearly twice as much, or 15% of the time. Similarweb found that June's AI referrals to news and media websites were up 770% since June 2024. Some sites will naturally rank higher than others that are blocking access to AI platforms, as The New York Times does, as a result of its lawsuit with OpenAI over the use of its articles to train its models. In the news media category, Yahoo led with 2.3 million AI referrals in June 2025, followed by Yahoo Japan (1.9M), Reuters (1.8M), The Guardian (1.7M), India Times (1.2M), and Business Insider (1.0M). In terms of methodology, Similarweb counts AI referrals as web referrals to a domain from an AI platform like ChatGPT, Gemini, DeepSeek, Grok, Perplexity, Claude, and Liner. ChatGPT dominates here, accounting for more than 80% of the AI referrals to the top 1,000 domains. The company's analysis also looked at other categories beyond news, like e-commerce, science and education, tech/search/social media, arts and entertainment, business, and others. In e-commerce, Amazon was followed by Etsy and eBay when it came to those sites seeing the most referrals, at 4.5M, 2.0M, and 1.8M, respectively, during June. Among the top tech and social sites, Google, not surprisingly, was at the top of the list, with 53.1 million referrals in June, followed by Reddit (11.1M), Facebook (11.0M), Github (7.4M), Microsoft (5.1M), Canva (5.0M), Instagram (4.7M), LinkedIn (4.4M), Bing (3.1M), and Pinterest (2.5M). The analysis excluded the OpenAI website because so many of its referrals were from ChatGPT, pointing to its services. Across all other domains, the No. 1 site by AI referrals for each category included YouTube (31.2M), Research Gate (3.6M), Zillow (776.2K), (992.9K), Wikipedia (10.8M), (5.2M), (1.2M), Home Depot (1.2M), Kayak (456.5K), and Zara (325.6K). Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Altcoin Season Hope Dim as Traders Unwind Bullish Bets: Crypto Daybook Americas
Altcoin Season Hope Dim as Traders Unwind Bullish Bets: Crypto Daybook Americas

Yahoo

timean hour ago

  • Yahoo

Altcoin Season Hope Dim as Traders Unwind Bullish Bets: Crypto Daybook Americas

By Omkar Godbole (All times ET unless indicated otherwise) Bitcoin's (BTC) consolidation continues to take the wind out of the bull run in the broader market that had raised hopes for the so-called alt season marked by prolonged outperformance of alternative cryptocurrencies. Over the past 24 hours, major altcoins have experienced a significant decline, led by a double-digit drop in the payments-focused XRP and an 8% slide in SOL. The CoinDesk 80 Index, which tracks the performance of altcoins, has dropped over 7% while the CoinDesk 20 Index, which is dominated by bitcoin and ether, has declined by 4%. "The crypto market took a nosedive, losing almost 4% of its market cap over the last 24 hours. Without bitcoin's growth, altcoins, which had been driving the market upwards in previous days, found themselves on sale. Forty-eight of the top 100 altcoins are losing double-digit rates over 24 hours, while only three are growing," Alex Kuptsikevich, chief market analyst at FxPro, said in an email. Amid all this, social media is abuzz with posts about some $2 billion worth of ether waiting to be unstaked, with over 475 Ethereum validators awaiting exit. (check chart of the day section). Some are drawing parallels with January 2024, when large unstaking marked a temporary price top. The latest surge in unstaking appears to be driven by the soaring ether borrowing rates on decentralized platforms like Aave, which have diminished the appeal of looping strategies designed to boost ether staking yields. Typically, these strategies involve users depositing liquidity staking (LST) or liquid restaking tokens (LRT) as collateral on platforms like AAVE and borrow ETH. The borrowed ETH is again converted to LRT and LSTs and redeposited, creating a loop. The strategy works when staking yields are greater than borrowing costs. However, with borrowing costs on the rise, the loop is likely being reversed, leading traders to rush to repay loans, exit LST/LRT, and reclaim ETH. "The real trigger is soaring ETH borrowing rates since July 16 (peaking at 18%). This forced mass unwinding of ETH leverage loops on Aave, as negative yield spreads crushed profitability. Traders rushed to repay loans, exit LST/LRT positions, and reclaim ETH — causing depegs and queue congestion," pseudonymous observer Degen Station noted on X. It added that arbitrageurs are now scooping up LSTs and LRTs at a discount to redeem them for ether, worsening the issue, while demand for new staking remains strong. To cut to the chase, the large queue for unstaking is not necessarily a bearish signal. In other key news, Tether CEO Paolo Ardoino said that the company is planning to re-enter the U.S. with stablecoin offerings for payments, interbank settlements, and trading. In traditional markets, major currencies traded flat against the U.S. dollar, except for the risk-sensitive AUD/USD pair, which crossed above resistance at 0.66. Traders were closely watching for signs of sustainability as failure could be a harbinger of broad-based risk aversion. Stay Alert! What to Watch Crypto July 28: Starknet (STRK), an Ethereum layer-2 validity rollup (zk-rollup), launches v0.14.0 on mainnet. July 31, 12 p.m.: A live webinar featuring Bitwise CIO Matt Hougan and Bitzenship founder Aleesandro Palombo discussing bitcoin's potential as the next global reserve currency amid de-dollarization trends. Registration link. Aug. 1: The Helium Network (HNT), now running on Solana, undergoes its halving event, cutting annual new token issuance to 7.5 million HNT. Aug. 15: Record date for the next FTX distribution to holders of allowed Class 5 Customer Entitlement, Class 6 General Unsecured and Convenience Claims who meet pre-distribution requirements. Macro July 24, 8:15 a.m.: The European Central Bank will announce its interest rate decision, with President Christine Lagarde's press conference following 30 minutes later. Livestream link. Main Refinancing Operations (MRO) rate Est. 1.9% vs. Prev. 2.15% July 24, 9:45 a.m.: S&P Global releases (flash) July U.S. data on manufacturing and services activity. Composite PMI Prev. 52.9 Manufacturing PMI Est. 52.6 vs. Prev. 52.9 Services PMI Est. 53 vs. Prev. 52.9 July 24, 4 p.m.: President Donald Trump will visit the Federal Reserve headquarters, highlighting his public disagreements with Chair Jerome Powell and Fed monetary policy. July 25, 8:30 a.m.: The U.S. Census Bureau releases June manufactured durable goods orders data. Durable Goods Orders MoM Est. -10.8% vs. Prev. 16.4% Durable Goods Orders Ex Defense MoM Prev. 15.5% Durable Goods Orders Ex Transportation MoM Est. 0.1% vs. Prev. 0.5% Aug. 1, 12:01 a.m.: New U.S. tariffs take effect on imports from trading partners that failed to reach agreements by the July 9 deadline. These increased duties could range from 10% to as high as 70%, impacting a wide range of goods. Earnings (Estimates based on FactSet data) July 29: PayPal Holdings (PYPL), pre-market, $1.30 July 30: Robinhood Markets (HOOD), post-market, $0.31 July 31: Coinbase Global (COIN), post-market, $1.39 July 31: Reddit (RDDT), post-market, $0.19 July 31: Sequans Communications (SQNS); pre-market, N/A Aug. 5: Galaxy Digital (GLXY), pre-market, $0.19 Aug. 7: Block (XYZ), post-market, $0.67 Aug. 7: Hut 8 (HUT), pre-market, -$0.08 Aug. 27: NVIDIA (NVDA), post-market, $1.00 Token Events Governance votes & calls Rocket Pool DAO is voting to finalize Saturn 1's implementation. Approval by a 75% supermajority will ratify key protocol changes, including new transaction designs and a potential revenue share to the pDAO treasury. Voting ends July 24. Aavegotchi DAO is voting on a proposal to sell its treasury of around 16 million GHST at a discount to VC firm Rongming Investment for around $3.2 million in USDC, dissolve the DAO, and distribute funds to active members. The VC firm aims to scale Aavegotchi globally while Pixelcraft retains IP ownership. Voting ends July 25. Lido DAO is voting on a new system that lets validator exits be triggered automatically through the execution layer, not just by node operators. It includes tools for different authorization pathways, emergency controls, and built‑in limits to prevent misuse. The update is expected to make staking more decentralized, secure, and responsive. Voting ends July 28. GnosisDAO is voting on a proposal to provide $30 million per year, paid quarterly, to Gnosis Ltd., now a non-profit, to sustain its ~150‑person team building critical Gnosis Chain infrastructure, products (like Gnosis Pay and Circles), business development, and operations. Voting ends July 28. Aavegotchi DAO is voting on funding three new features for the official decentralized application: a Wearable Lendings UI, Gotchis Batch Lending and a BRS Optimizer. Voting ends July 29. NEAR Protocol is voting on potentially reducing NEAR's inflation from 5% to 2.5%. Two-thirds of validators must approve the proposal for it to pass, and if so, it could be implemented by late Q3. Voting ends Aug. 1. July 29, 10 a.m.: to host a bi-quarterly analyst call. Unlocks July 25: Venom (VENOM) to unlock 2.84% of its circulating supply worth $12.36 million. July 28: Jupiter (JUP) to unlock 1.78% of its circulating supply worth $29.04 million. July 31: Optimism (OP) to unlock 1.79% of its circulating supply worth $21.48 million. Aug. 1: Sui (SUI) to unlock 1.27% of its circulating supply worth $163.66 million. Aug. 2: Ethena (ENA) to unlock 0.64% of its circulating supply worth $18.92 million. Aug. 9: Immutable (IMX) to unlock 1.3% of its circulating supply worth $13.36 million. Aug. 12: Aptos (APT) to unlock 1.73% of its circulating supply worth $52.59 million. Token Launches July 24: (XU3O8) to be listed on KuCoin, MEXC, and others. July 24: Aspecta (ASP) to be listed on Binance Alpha, OKX, KuCoin, BingX and others. July 24: Rent (REKT) to be listed on Conferences The CoinDesk Policy & Regulation conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited. July 24: Decasonic's Web3 Investor Day 2025 (Chicago) July 25: Blockchain Summit Global (Montevideo, Uruguay) July 28-29: TWS Conference 2025 (Singapore) Aug. 6-7: 2025 (Rio de Janeiro, Brazil) Aug. 6-10: Rare EVO (Las Vegas) Aug. 7-8: bitcoin++ (Riga, Latvia) Aug. 9-10: Baltic Honeybadger 2025 (Riga, Latvia) Aug. 9-10: Conviction 2025 (Ho Chi Minh City, Vietnam) Token Talk By Shaurya Malwa PENGU surged to a record $0.044, reclaiming the title of top Solana meme token after overtaking BONK in a rally timed with the fourth anniversary of the Pudgy Penguins NFT collection. The token jumped 21% in 24 hours, extending a multiday rally and overtaking its previous all-time high of $0.042 from January. South Korean traders are driving momentum, with 38% of PENGU volume now in KRW pairs, up from 32% earlier this month, a significant concentration of localized demand. Open interest in PENGU futures is at a record high, indicative of expectations of further volatility. The Pudgy Penguins NFT floor price has almost doubled to 16.2 ETH, reinforcing the connection between token price and NFT ecosystem strength. PENGU's rally comes amid weak sentiment around PUMP following its underwhelming post-ICO performance, pushing attention and liquidity toward other Solana memecoins. The token is increasingly being viewed as a proxy for meme market sentiment, combining high liquidity, exchange access, cultural mindshare and ties to a top-tier NFT IP. Derivatives Positioning Open interest in BTC, ETH, XRP and SOL offshore perpetual has declined along with prices in the past 24 hours. Yet, funding rates hold positive. This combination indicates that the market swoon is predominantly driven by the unwinding of bullish bets rather than outright shorts. On the CME, the annualized three-month basis in BTC futures has ticked up to nearly 9%, the highest since May. However, open interest remains locked in familiar ranges. ETH CME futures open interest has pulled back slightly from the record 2.08 billion ETH to 1.87 billion ETH. Basis, meanwhile, has topped 10% for the first time since the end of May, indicating a bullish sentiment. On Deribit, the put bias in short-dated BTC risk reversals has strengthened, indicating fears of deeper price pull back. ETH options continue to show a bullish call bias across all tenors. Surprisingly, XRP risk reversals remain bullish despite the sharp price drop in the past 24 hours. Market Movements BTC is up 0.49% from 4 p.m. ET Wednesday at $118,534.04 (24hrs: -0.09%) ETH is up 1.9% at $2,607.45 (24hrs: -1.15%) CoinDesk 20 is up 0.41% at 3,934.83 (24hrs: -3.55%) Ether CESR Composite Staking Rate is down 2 bps at 2.95% BTC funding rate is at 0.0091% (9.9645% annualized) on KuCoin DXY is up 0.14% at 97.35 Gold futures are down 0.86% at $3,368.50 Silver futures are down 0.32% at $39.38 Nikkei 225 closed up 1.59% at 41,826.34 Hang Seng closed up 0.51% at 25,667.18 FTSE is up 1.00% at 9,151.80 Euro Stoxx 50 is up 0.56% at 5,374.36 DJIA closed on Wednesday up 1.14% at 45,010.29 S&P 500 closed up 0.78% at 6,358.91 Nasdaq Composite closed up 0.61% at 21,020.02 S&P/TSX Composite closed up 0.19% at 27,416.41 S&P 40 Latin America closed up 1.86% at 2,639.18 U.S. 10-Year Treasury rate is up 1 bps at 4.398% E-mini S&P 500 futures are unchanged at 6,402.00 E-mini Nasdaq-100 futures are up 0.33% at 23,387.75 E-mini Dow Jones Industrial Average Index are down 0.30% at 45,078.00 Bitcoin Stats BTC Dominance: 62.1% (0.33%) Ether to bitcoin ratio: 0.3055 (unchanged) Hashrate (seven-day moving average): 908 EH/s Hashprice (spot): $59.59 Total fees: 4.19 BTC / $496,766 CME Futures Open Interest: 149,260 BTC BTC priced in gold: 35.2 oz. BTC vs gold market cap: 9.87% Technical Analysis The DeFi dominance index, which measures the share of decentralized finance coins in the total crypto market, is currently showing a classic "breakout and re-test" pattern. This technical setup, characterized by a re-test of the breakout point, typically signals that the index is consolidating before a potential significant rally. Crypto Equities Strategy (MSTR): closed on Wednesday at $412.67 (-3.22%), unchanged in pre-market Coinbase Global (COIN): closed at $397.81 (-1.64%), unchanged in pre-market Circle (CRCL): closed at $202.41 (+2.07%), -1.6% at $199.18 Galaxy Digital (GLXY): closed at $31.03 (+6.6%), -0.1% at $31 MARA Holdings (MARA): closed at $17.57 (-11.62%), +0.23% at $17.61 Riot Platforms (RIOT): closed at $14.34 (+0.49%), -0.49% at $14.27 Core Scientific (CORZ): closed at $13.49 (+0.07%), +0.37% at $13.54 CleanSpark (CLSK): closed at $12.45 (-3.04%), unchanged in pre-market CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $27.34 (-0.8%) Semler Scientific (SMLR): closed at $39.32 (-2.16%) Exodus Movement (EXOD): closed at $34.21 (-1.5%) SharpLink Gaming (SBET): closed at $25.81 (-5.8%), +0.66% at $25.98 ETF Flows Spot BTC ETFs Daily net flows: -$85.8 million Cumulative net flows: $54.44 billion Total BTC holdings ~1.3 million Spot ETH ETFs Daily net flows: $332.2 million Cumulative net flows: $8.67 billion Total ETH holdings ~5.24 million Source: Farside Investors Overnight Flows Chart of the Day The queue for unstaking ether now consists of 652,298 ETH with waiting time of over 11 days. While You Were Sleeping FTX to Start Next Round of Creditor Repayments on Sept. 30 (CoinDesk): FTX, the bankrupt crypto exchange formerly led by Sam Bankman-Fried, has repaid nearly $6.2 billion to creditors. The next distribution will be handled by BitGo, Kraken and Payoneer. Crypto Industry Asks President Trump to Stop JPMorgan's 'Punitive Tax' on Data Access (CoinDesk): A plan by JPMorgan to charge companies like Plaid and MX for linking bank accounts to crypto exchanges threatens fiat on-ramps, with Plaid alone facing fees that could wipe out most of its revenue. 'Wall Streetization' of Bitcoin: BTC Volatility Index and the S&P 500 VIX Boast Record 90-Day Correlation (CoinDesk): Institutional crypto traders are mirroring equity option strategies, reshaping bitcoin's volatility signals into sentiment gauges and decoupling them from price trends, leading to record alignment with Wall Street fear metrics. BTC, XRP, SOL, ETH Witness 'Long Squeeze' as Futures Open Interest Slides With Prices (CoinDesk): Positive funding rates and declining futures exposure suggest bullish traders are being cleared out — not replaced — pointing to a leverage reset rather than a shift in sentiment. Chinese and EU Leaders Are About to Meet — but the U.S. Is Complicating Things (Financial Times): EU officials challenged Beijing over its $142 billion trade surplus and ties to Moscow, while China defended its stance and warned Brussels against tariffs or restricting market access through supply chain controls. How a Chinese Border Town Keeps Russia's Economy Afloat (The New York Times): China's booming imports of Russian energy, timber and grain now feed its manufacturing sector as Beijing replaces Western buyers across key sectors of the post-sanctions economy. In the Ether

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store