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The House View
Digital Assets on the Books: The Next Phase of DATs
October 1, 2025
The Fed’s “Risk Management” Cut – What It Means for Crypto
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The House View is your quick-hit on what moved markets – straight from the FalconX desk. Follow us on Spotify or Apple Podcasts.
Episode 5: The Fed’s “Risk Management” Cut – What It Means for Crypto
The Fed finally blinked. In a widely anticipated move, the U.S. central bank delivered a 25bp rate cut, but what caught markets off guard wasn’t the move itself – it was the messaging. A new phrase entered the Fed lexicon: “risk management.” But what exactly are they managing?
In Episode 5 of The House View, Colin Farrell (Senior Manager, Institutional Coverage) sits down with Matt Sheffield (Head of Spot Trading) to unpack the September FOMC decision, how traders are interpreting the Fed’s new tone, and what all of this means for crypto markets heading into Q4.
Key Topics Covered:
- The Fed’s Preemptive Pivot: A 25bp cut without clear data justification – is the labor market weaker than it looks?
- Dot Plot Drama: One member wanted +125bp hikes; another wanted a 50bp cut. Uncertainty rules.
- Crypto Implications: From ETH vols to altcoin flows, rate cuts are a liquidity green light – but not a rocket ship (yet).
- Retail Revival?: With the holidays approaching and cuts underway, the stage may be set for renewed retail interest.
- Vols & Flows: BTC vol crushed post-FOMC; ETH vols remain elevated – and digital asset treasuries (DATs) are driving activity.
Tune into Episode 5 now on Spotify or Apple to hear the full breakdown.
Disclaimer
This material is for informational purposes only and is only intended for sophisticated or institutional investors. This material is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of FalconX or any of its affiliates. Any information contained in this material is not and should not be regarded as investment research, debt research, or derivatives research for the purposes of the rules of the CFTC or any other relevant regulatory body. Prior to entering into any proposed transaction, recipients should determine, in consultation with their own investment, legal, tax, regulatory and accounting advisors, the economic risks and merits, as well as the legal, tax, regulatory and accounting characteristics and consequences of the transaction. This material does not constitute investment advice. To the extent permitted by law, FalconX does not accept any liability arising from the use of this communication. This material may contain information regarding structured products which involve over the counter derivatives. Pursuant to the Dodd-Frank Act, over the counter derivatives are only permitted to be traded by “eligible contract participants” (“ECP”s) as defined under Section 1a(18) of the CEA (7 U.S.C. § 1a(18)). Do not invest in a structured product unless you are an ECP as relevant and fully understand and are willing to assume the risks associated with the product. Solios, Inc. is registered as a federal money services business with FinCEN. FalconX Bravo, Inc. is provisionally registered with the U.S. Commodities Futures Trading Commission (CFTC) as a swap dealer. FalconX Limited is a registered Class 3 VFA service provider under the Virtual Financial Assets Act of 2018 with the Malta Financial Services Authority. FalconX Limited, FalconX Bravo, Inc., nor Solios, Inc. are not registered with the Securities & Exchange Commission or the Financial Industry Regulatory Authority. FalconX Foxtrot Pte Ltd and FalconX Golf Pte. Ltd. are not regulated by the Monetary Authority of Singapore.
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