The so-called open interest or the number of active bets in standard ether futures rose to a record of 7,661 contracts, equaling 383,650 ETH and $1.4 billion in notional terms, the exchange said in an email to CoinDesk. The previous peak of 7,550 contracts was set one month ago. The standard contract is sized at 50 ETH. Source
Cybercrime in the crypto sector has soared in the first half of 2024, with hackers stealing nearly $1.38 billion, nearly doubling last year’s figures. Cybercriminals have pilfered a staggering $1.38 billion from crypto investors in the first half of 2024, nearly doubling the $657 million stolen during the same period in 2023, according to data compiled by blockchain forensic firm TRM Labs. Consistent with 2023 trends, a handful of major breaches have dominated this year’s thefts, with the top five incidents accounting for 70% of the total haul, analysts say.…
A number of cryptocurrency platforms reporting billions of dollars in daily trades on CoinMarketCap appear to have been misleading their customers about holding certain crypto licenses, an investigation by Cointelegraph has found. Bitspay, a crypto exchange that reports a $1.4 billion daily trading volume on CoinMarketCap, claimed it held a license in Estonia, and is regulated under Estonian law. However, after Cointelegraph reached out with questions about this license, the company swiftly erased its reportedly fake license data. At the time of writing, Bitspay is the fourth-largest crypto exchange by…
EY says that its new AI tool will help client and client users with the responsible adoption of AI, for strategy, tax, and other purposes. British multinational professional services giant EY has announced a new artificial intelligence (AI) tool to offer AI-powered services to its clients. The new tool, EY.ai, will help clients with responsible adoption of AI for various functions, including transactions, strategy, assurance, risk, and transformation. In a Wednesday press release, EY noted that it spent $1.4 billion on the AI platform. The publication also noted that EY has…
The latest price moves in bitcoin (BTC) and crypto markets in context for Feb. 1, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Source
Amongst the various arms Sam Bankman-Fried’s fallen crypto empire, FTX.US has $260 million in cash. Bankman-Fried has repeatedly claimed that the U.S. wing is solvent. Last month he blogged that FTX US “had at least $111m, and likely around $400m, of excess cash on top of what was required to match customer balances.” Source
On-chain data shows Bitcoin whales have accumulated $1.4 billion in the asset during the last two weeks, a sign that could be bullish for the coin. Bitcoin Whales Added 70,000 BTC To Their Holdings In Two Weeks As pointed out by an analyst on Twitter, BTC whales have been showing accumulation behavior recently. The relevant indicator here is the “Bitcoin Supply Distribution,” which is a metric from on-chain analytics firm Santiment that tells us which wallet groups in the market are holding what amount of the crypto right now. Wallets…