In a press release, the NYAG’s office said, “The petition argues that ETH, just like LUNA and UST, is a speculative asset that relies on the efforts of third-party developers in order to provide profit to the holders of ETH. Because of that, KuCoin was required to register before selling ETH, LUNA, or UST.” Source
Kwenta works in tandem with Synthetix, a popular DEX that offers crypto, equity, and forex futures to traders. On Kwenta, Synthetix stakers take the other side of every trade. Funding rates attract traders on each side, balancing the skew. DEXs rely on smart contracts instead of middlemen to process trades. Original
Stablecoins and Ether (ETH) are commodities and should come under the purview of the United States Commodity Futures Trading Commission (CFTC), its chairman has again asserted at a recent Senate hearing. At the Mar. 8 Senate Agricultural hearing, CFTC chair, Rostin Behnam, was asked by Senator Kirsten Gillibrand about the differing views held by the regulator and the Securities and Exchange Commission (SEC) following the CFTC’s 2021 settlement with stablecoin issuer Tether, Behnam said: “Notwithstanding a regulatory framework around stablecoins, they’re going to be commodities in my view.” “It was…
Data from CryptoRank, which tracks the fund’s portfolios and known holdings shows that while major funds like Delphi Digital, Polychain or Animoca are down an eye-watering 80%, 64%, and 81%, over the course of the last 365 days, they are still well into the green during the last three years. Original
Volatility is mean-reverting and has a positive impact on options prices. In other words, periods of unusually low volatility are followed by increased price turbulence, which, in turn, boosts demand for options, making them pricier. Thus, traders tend to buy options when volatility is lower than its long-term average. Original
On Friday, Gitcoin community members passed a governance proposal with almost unanimous support to formalize a relationship with the index provider Index Cooperative, and transfer 100 ether (ETH) worth $164,600 into two liquidity pools meant to “ensure deeper liquidity and reduce swapping fees for moving into gtcETH,” according to a snapshot. Source
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity…
Ethereum’s Shanghai upgrade will deploy a two-tier withdrawal system. Partial withdrawals, amounts above 32 ETH, will be usually executed immediately but initially Arcana expects them to be distributed within three days due to the queue. Full withdrawals, which is the minimum staking amount of 32 ETH, will take more time and be released gradually. Source
Bernstein’s analysis shows the supply increases are likely to be spread over a few weeks, even months, resulting in little selling pressure on a daily basis. The broker sees limited actual supply impact, but notes that weak sentiment due to unstaking can put pressure on the ether price prior to the event. Source
Data from Paris-based crypto data provider Kaiko show bitcoin’s 2% market depth for USDT pairs aggregated from 15 centralized exchanges has slipped to 6,800 BTC, the lowest since May 2022, surpassing the post-FTX low. That’s significantly down from the October highs above 15,000 BTC. Ether’s 2% market depth has more than halved to 57,000 ETH since October, led by Binance. Original