Bitcoin Santa Claus rally unlikely, according to on-chain and derivatives data
As the coldest days of the crypto winter set in, investors’ speculative interest in the crypto market has fallen to pre-2021 levels, impairing the chance of a substantial directional price move. However, there’s a possibility of a bear market rally akin to the July through August 2022 uptrend. The market enters a state of limbo […]
CTFC looks at expanded authority to regulate crypto, for less than a 10% budget increase
The U.S. Commodity Futures Trading Commission, or CFTC, has released its Fiscal Year 2023 (FY2023) budget request, seeking $365 million. This marks a 9.9% increase over the previous year and 20% over FY2021. The commission regulates the country’s derivatives market and has been increasingly active in recent years in policing financial products that incorporate cryptocurrencies. […]
Waiting on the executive order: how users and financial professionals may benefit from it
United States President Joe Biden’s Executive Order on Ensuring Responsible Development of Digital Assets was widely praised for acknowledging cryptocurrency and blockchain technology’s place in the world and setting the U.S. on a path toward more comprehensive regulation of the sector. The order, or EO, sets a research agenda that encompasses consumer protection, financial stability, […]
Here’s why the SEC keeps rejecting spot Bitcoin ETF applications
It is not the first time the U.S. Securities and Exchange Commission (SEC) rejected proposals for a Bitcoin spot exchange-traded product (ETP), but efforts continue to be made by different financial institutions. The recent attempt made by Cboe BZX Exchange on Jan. 25 to list the Fidelity Wise Origin Bitcoin Trust as a Bitcoin ETP […]
Coinbase tokenized shares seem to be in free fall on FTX
Investors with tokenized exposure to Coinbase (COIN) shares experienced extreme volatility Tuesday, as the value of their holdings plummeted in a matter of minutes. The selloff took place on FTX, a leading derivatives exchange, where the COIN-USD stablecoin exchange rate fell from a high above $640 all the way to around $420. Three huge red […]
ShapeShift report calls ‘staking derivatives’ a potential win-win for PoS users
In a newly released report, Swiss cryptocurrency exchange ShapeShift explores the potential role of so-called “staking derivatives” in addressing some of the challenges posed by Proof-of-Stake, or PoS, protocols. Yield Unchained: Exploring Staking Derivatives shines the spotlight on existing challenges with POS protocols – namely, the opportunity cost that comes with locking up capital in […]