Day: September 22, 2023

Coinbase Explores FTX Acquisition and Derivatives License

Until FTX collapsed in November, FTX Europe was the only firm offering special crypto derivatives (perpetual futures) to the European market. Reports have emerged that Coinbase considered acquiring FTX Europe after the exchange’s bankruptcy in November. While the acquisition talks were not successful, Coinbase’s interest in FTX Europe underlines how important derivatives have become to Coinbase’s global strategy. Whereas spot trading volumes have dipped significantly, there is a greater demand for derivatives. Data from crypto analytics firm Kaiko Research showed that derivatives volume was six times larger than spot volume…

Google Cloud Pushes Deeper Into Blockchain Data, Adding 11 Networks Including Polygon

“Over the past 18 months we’ve been investing in this space, we’ve continued to hire, we’ve continued to grow not only our business development and our go-to-market teams but also our product and engineering capabilities,” James Tromans, global head of Web3, Google Cloud, told CoinDesk TV in an interview last week. “We’re really beginning to show that we’re not just fly-by-night and not just here when the time is going well.” Source

Bybit to Suspend UK Operations in Response to FCA’s New Rules

The recent decision by Bybit to suspend its operations in the United Kingdom is not an isolated incident within the crypto industry. In a sudden turn of events, crypto exchange Bybit has announced its decision to suspend its operations in the United Kingdom. This move comes just a week after the company expressed its commitment to explore all available options to continue operating within the country. Bybit Exchange’s Proactive Response to FCA The company has outlined a timeline for these changes, providing clarity to its customers. As of October 1,…

Implications for the Economy and Crypto Market” – Blockchain News, Opinion, TV and Jobs

The recent Federal Reserve decision to maintain interest rates as they were, has sparked conversations about its potential repercussions for both the broader economy and the cryptocurrency market. While industry experts suggest that crypto may remain relatively insulated from this decision, the central bank’s insights into the overall economic landscape carry significant weight. A Battle Against Inflation For over a year, the Federal Reserve has been waging a relentless battle against inflation. Between March 2022 and July of the same year, the federal funds rate, a pivotal interest rate, surged…

Binance announces the removal of 57 spot trading bots

Starting Sept. 29, Binance will remove Spot Trading Bots services from trading pairs including AAVE/BNB and ZIL/BNB. The announcement comes amid reports of decreasing Binance trading volumes, likened to regulatory challenges and end of zero-fee commissions. 57 down and potentially more to follow The Spot Trading bot services that were removed are listed on the Binance website. The reason for these mass removals, according to Binance, is a “service alteration to improve the user’s trading experience.” Binance first announced the removals in a Sept. 21 tweet. A follow-up tweet from…

Major Milestones Shows XRP Ledger Is Becoming A DeFi Force To Be Reckoned With

After the XRP token recorded an all-time high in daily trading volumes for crypto exchanges in the US, the Ripple ecosystem has achieved a new milestone, successfully hitting over 82 million registered ledgers on its XRP Ledger.  XRP Ledger Surpasses 82 Million Ledgers XRP Ledger, a decentralized public blockchain backing the XRP token has gained recognition for its unique consensus algorithm and incorporation of the XLS-20 protocol. The leading cryptographic ledger reported that it had closed approximately 82,035,421 registered ledgers on its blockchain.  This achievement follows another milestone in August…

Bybit will suspend services in UK following financial regulator’s ‘final warning’

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Dubai-headquartered cryptocurrency exchange Bybit has announced the suspension of services to the United Kingdom in response to pending rules from the country’s Financial Conduct Authority, or FCA. In a Sept. 22 announcement, Bybit said it will start suspending services to U.K. residents on Oct. 1 by no longer allowing new account applications. This move will be followed by the suspension of new deposits, new contracts and changes to positions for existing users on Oct. 8. “In light of the UK Financial Conduct Authority’s introduction of new rules regarding marketing and…

Bitcoin Bull Run May Not Begin Until This Ratio Reverses Trend

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The Bitcoin bull run may not start properly until this on-chain ratio reverses the trajectory it is currently going in. Bitcoin RHODL Ratio Is Currently Showing A “Dead Cat Bounce” As analyst James V. Straten explained in a post on X, the BTC RHODL ratio may contain hints about when the cryptocurrency’s next bull run could be coming. The “Realized HODL ratio” (RHODL) here refers to an indicator that keeps track of the ratio between the value held by the investors holding since 6 months and 3 years ago and…

Crypto operator CoinShares launches U.S. hedge fund division

CoinShares, a European crypto investment firm, has launched a new hedge fund aimed at qualified U.S. investors as part of the company’s strategy to expand its geographical coverage. In a press statement, the firm said its new hedge fund division called “CoinShares Hedge Fund Solution” will be offering a diverse range of products, while CoinShares Capital, a FINRA-licensed broker-dealer, will be conducting “marketing activities.” Amid the news, CoinShares stocks on Sweden’s Nasdaq First North Growth Market jumped as much as 2.59% to 43,60 SEK ($3.90). In addition to the hedge…