Mike Cagney

Founder @Cabezon, SoFi, Figure, Provenance and Figure Markets

Mike is the Co-founder and Chief Executive Officer of Figure, where he leads corporate strategy and development. Mike brings decades of experience in the financial industry to his leadership of the company, previously serving as CEO, chairman and co-founder of SoFi.

Figure Markets

Lots of people wanted me to better outline the BTC basis carry trade, so here it is. This is not investment advice. Using 6/21 closing prices, the July 24 BTC futures was 64,810 vs. a 63,972 spot price (identical time stamps). There are 38 days to contract settlement. So if I… https://t.co/4eQ93G6Hmx

Mike Cagney

Jun 24

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It's important to look at both sides of a market. The "There was x BTC minted today and y inflows into ETFs" ignored the short going on the futures at the same time. Note that now that basis is not as attractive, the unwind shouldn't impact prices either.

Mike Cagney

Jun 21

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We've had $15.5B of net inflows into BTC ETFs, but a $7.5B increase in futures open interest over the same time period. The basis trade (buying spot via ETFs and selling futures forward to earn what was an insanely high drop) - not some Coinbase conspiracy - is why the ETF… https://t.co/IfcbxOPCFR

Mike Cagney

Jun 21

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Provenance Blockchain Foundation is seeking an executive director to promote the Provenance RWA story to the native crypto audience, move the foundation offshore and list HASH (the utility token of Provenance) on the centralized exchanges. This is a high profile role in a well… https://t.co/DKht8wP5CA

Mike Cagney

Jun 20

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Glad to see @infineogroup join @Figure in leveraging @provenancefdn - but platform for blockchain native RWAs. https://t.co/i2SLGX8ZGk

Mike Cagney

Jun 20

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RT @provenancefdn: 🎧 Set a reminder to listen in tomorrow (Thursday), when @CollinSellers joins this @RwaWorld's Spaces event to discuss hy…

Mike Cagney

Jun 20

Twitter
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