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UTXO's Daniel Hinton Discusses Bitcoin Market and Institutional Adoption

Daniel Hinton of UTXO discusses Bitcoin market challenges, exchange dislocations, the BitMEX wind-down, and institutional adoption requirements.

23/09/2026 14:008 min read

"Bitcoin plays on hard mode." Daniel Hinton, who previously managed global liquidity relationships at SFOX, explains the difficulty of keeping a 24/7 global market efficient without a clearinghouse outside the blockchain. He details the multi-percentage-point dislocations that were common among exchanges in 2018, their subsequent decline, and the perp market wick above $150,000 that appeared during the BitMEX wind-down on thin liquidity. Hosts Grace Remington and Sean Hagan delve into what this means for anyone using margin or stop losses.

Chapters:

  • 00:00 — Where the Most Sophisticated Bitcoin Capital Is Going Right Now
  • 01:41 — Exchange Dislocations, OTC Desks, and Why Bitcoin Plays on Hard Mode
  • 03:18 — The BitMEX Wind-Down and a Perp Wick Above $150,000
  • 04:01 — Why Custody Is Back on the Underdeveloped List
  • 05:30 — Building the UTXO Oracle for a Market With No Single Price
  • 07:25 — Running Free Open Source Price Software Next to Your Node
  • 08:21 — Sustainable Balance Sheets Versus Pure Leverage
  • 10:20 — Hunting Dislocated Assets Across a Dozen Global Markets
  • 12:02 — What Has to Be Built for Institutional Mandates to Allow Bitcoin
  • 14:18 — Rounded Bottoms, the Honey Badger, and Resistance Priced in Gold

This content is solely for informational purposes and does not represent an offer to sell or a solicitation to buy any securities. Past performance is not indicative of future results. Digital asset investments carry significant risk and may result in capital loss. UTXO Management and BTC Inc., which produces BMTV, are both owned by Nakamoto Inc. (NASDAQ: NAKA).

Disclaimer: The views and opinions expressed here are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliate. This material is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing in this presentation constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.

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