#Liquidity101 What is liquidity for beginners? Liquidity is the ease of converting an asset or security into cash. Other liquid assets include stocks, bonds, and other exchange-traded securities. Tangible items tend to be less liquid, meaning that it can take more time, effort, and cost to sell them (e.g., a home).
Liquidity refers to the ease with which an asset can be converted into cash without significantly affecting its market price. In financial markets, liquidity is crucial because it determines how quickly and efficiently you can buy or sell an asset, like stocks, bonds, or cryptocurrencies.
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Beyond issues related to registration and jurisdictional lines, other roundtables have focused on current SEC registrants who want to continue operating under SEC oversight, but with altered regulatory requirements tailored to new types of products and technologies.
In addition to these varied and sometimes competing regulatory views, we have heard different opinions on the technologies underlying digital asset products and services. We have heard panelists highlight advantages or disadvantages of particular technologies, and give differing predictions on their capabilities to function effectively as part of a large, complex securities market.
In sum, these roundtables have given us a lot to grapple with, to say the least. While the series was billed as a “spring sprint towards crypto clarity,” I am unsure whether we’ve identified much that can be simply or quickly clarified. When it comes to crypto, it does not appear to me that the SEC is facing problems with ready or easy solutions. What we are facing is heightened expectations of rolling out major changes —quickly— to pave the way for crypto expansion into the capital markets.
With issues this complex and stakes this high, it’s better to do it right than fast. We need to grapple with the tough questions through the legally sanctioned process of formal rulemaking, as Chairman Atkins alluded to earlier, with full opportunity for notice and comment and public interest findings. I look forward to engaging with my fellow Commissioners, the staff, and the public on what I hope will be a thoughtful and mission-driven rulemaking process for this space. Thank you.
Speech Remarks at the Final Crypto Task Force Roundtable: Where We Go From Here Commissioner Caroline A. Crenshaw Washington D.C. June 9, 2025
Good afternoon. As we begin the final event of this Crypto Task Force series, I think this is a good opportunity to reflect on what has come out of these roundtables and where the Task Force, and the Commission, are going from here.
These roundtables have highlighted that “crypto” is far from a monolith. We have heard a markedly diverse set of viewpoints, from many different segments of the industry.
We have heard, for example, from many non-SEC registered entities with varying views on whether they or their products should be required to register and be subject to SEC jurisdiction. I expect that this will be a key theme of today’s DeFi panel. Back in November 2021, I wrote an article[1] detailing my views on the opportunities and challenges of DeFi, which I believe require industry and regulatory collaboration to develop compliant solutions. The issues I raised in that article related to market structure, transparency, and retail investor protection, among others, still remain questions today, so I look forward to hearing the panelists’ views on how we should approach these challenges.
Bitcoin liquidity is a measure of how quickly a trader or investor can purchase or sell the asset. While Bitcoin and other cryptocurrencies trade 24 hours a day around the globe, they are less liquid than other asset classes.
In the context of trading, "order types" refer to the different ways a trader can instruct a broker to buy or sell a specific asset. These orders dictate how a trade will be executed and can impact the price and speed of the trade. The most common order types include market orders, limit orders, stop orders, and trailing stop orders. Here's a breakdown of some key order types: Market Orders: Definition: A market order is executed at the best available price in the market at the time the order is placed. Purpose: Market orders are used when a trader wants to enter a trade quickly, regardless of the price. Example: If a trader wants to buy 100 shares of a stock, a market order will buy those shares at the current ask price (the price at which sellers are offering to sell). Limit Orders: Definition: A limit order allows a trader to specify a price at which they are willing to buy or sell. Purpose: Limit orders help traders control the price at which they enter or exit a trade. Example: A trader might place a limit order to buy a stock at $10.00 if they are willing to pay that price or less, but not more. Stop Orders: Definition: A stop order becomes a market order when the price of an asset reaches a specified level (the "stop price"). Purpose: Stop orders are used to protect against losses or to limit the downside risk of a trade. Example: If a trader is long a stock and sets a stop-loss order, the order will become a market order to sell if the stock's price falls to the specified stop price. Trailing Stop Orders: Definition: A trailing stop order adjusts the stop price as the market price moves in the trader's favor. Purpose: Trailing stop orders help to lock in profits and protect against losses as the market price fluctuates. Example: If a trader buys a stock and sets a trailing stop order, the stop price will move up as the stock price rises, helping to protect the trader if the price later falls. Other Order Types:
#CEXvsDEX101 By controlling the platform infrastructure, CEXs can match trades internally without requiring every transaction to be settled on the blockchain. A DEX relies on a blockchain network for every trade, which increases the time to settlement. Transaction speeds on DEXs may also be more variable.5 days ago
Are you buying, selling, or trading cryptocurrencies? You’re probably using a cryptocurrency exchange to complete your transactions. These exchanges are either centralized or decentralized—a core design choice that affects almost every part of your trading experience.
Decentralized exchanges—like the blockchain technology on which they’re built—rely on consensus mechanisms, with data distributed across users. But centralized exchanges are undeniably more accessible. Which should you choose? The decision is about trade-offs—and priorities.
Trading operations encompass the back-end processes and functions that support the execution, settlement, and management of financial trades, ensuring they are processed efficiently, accurately, and in compliance with regulations. It's the team that takes care of the execution of trades, from the moment a trade is initiated until it's fully settled and recorded. Here's a more detailed breakdown: Back-end Processes: This includes tasks like order management, trade confirmation, clearing, and settlement, ensuring all transactions are handled correctly. Middle-office Functions: This involves risk management, financial accounting, and regulatory compliance, which helps to ensure the operations are compliant with regulations and to control risk exposure. Key Functions: Trading operations are responsible for ensuring trades are executed accurately, efficiently, and in compliance with rules. They also play a crucial role in risk management, ensuring that trades do not expose the firm to undue risk. Efficiency and Accuracy: Trading operations strive to optimize processes and minimize errors, which helps to improve the overall efficiency of the trading process and reduce the risk of errors. Regulatory Compliance: Trading operations ensure that all trades are executed in accordance with applicable regulations, which is crucial for maintaining the integrity of the financial markets.
Ethereum is a decentralized global software platform, similar to an operating system, that uses blockchain technology. It's primarily known for its native cryptocurrency, ether (ETH), and its ability to host smart contracts and decentralized applications (DApps). Essentially, Ethereum is a platform where developers can build and deploy programs that run on a distributed, secure network. Here's a more detailed breakdown: Blockchain: Ethereum is built on blockchain technology, a distributed and immutable ledger. Decentralized Platform: It operates without a central authority, meaning no single entity controls the network or transactions. Smart Contracts: Ethereum allows developers to create self-executing agreements, or smart contracts, that automatically enforce terms and conditions. Decentralized Applications (DApps): Ethereum provides a platform for building and deploying applications that operate independently of traditional intermediaries, often referred to as DApps. Ether (ETH): ETH is the native cryptocurrency used on the Ethereum network to pay for transactions and incentivize network participants. Ethereum Virtual Machine (EVM): The EVM is a runtime environment that executes smart contracts on the Ethereum network, ensuring consistent execution across all nodes. $ETH
#TradingTypes101 trading styles vary from short-term scalping to long-term position trading. Popular styles include scalping, day trading, swing trading, and position trading. Understanding these different approaches is key to finding a style that aligns with your risk tolerance, time availability, and goals. Short-Term Trading: Scalping: This involves opening and closing trades within seconds or minutes, aiming to profit from small price fluctuations. Day Trading: Day traders open and close all trades within the same trading day, avoiding overnight risks. Medium-Term Trading: Swing Trading: Swing traders hold positions for days or even weeks, capitalizing on larger price swings. Long-Term Trading: Position Trading: Position traders hold positions for weeks, months, or even years, aiming to profit from long-term market trends.
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As the newly appointed Chief Growth Officer, Wyatt will play a pivotal role in the expansion of the Optimism ecosystem. His duties include collaborating with developers, strengthening partnerships, and coordinating with external contributors to further the growth and development of Optimism’s offerings. Notably, Wyatt expressed particular excitement about Optimism’s Superchain, a groundbreaking series of Layer 2 networks designed to share security, a communication layer, and an open-source development stack.
In an exclusive statement to The Block, Wyatt shared his enthusiasm for the role, stating, “We’re now at a point in time where we finally have started to solve this large infrastructure issue, and Superchain just does that. And so it’s going to be fun.” He emphasized the uniqueness of the opportunity on a personal level, highlighting the excitement it brings as a new venture in his career.
This move follows Wyatt’s tenure at Polygon, where he joined in February 2022 and played a pivotal role in expanding the platform’s reach across various sectors, including gaming, fashion, entertainment, news, and sports endeavors. His departure from Polygon suggests a strategic shift in his focus towards the innovative developments within the Ethereum Layer 2 scaling protocol space.
Optimism’s decision to bring Wyatt on board underscores the increasing importance of experienced and visionary leaders in the blockchain industry. Wyatt’s track record in expanding Polygon’s presence in diverse sectors positions him well to contribute to the growth and success of Optimism’s ambitious projects.
As Chief Growth Officer, Wyatt is set to steer Optimism towards new heights, leveraging his extensive experience in the industry to drive innovation, collaboration, and strategic partnerships. The cryptocurrency community will undoubtedly be watching closely to see how Wyatt’s influence shapes the future of Optimism and its ambitious Superchain project.