“The negative spread is reflective of the two assets increasingly viewed as similar yet different proxies of risk, both markets are much deeper and liquid than the rest of the coins with established use cases,” Patrick Chu, director of institutional sales and trading at over-the-counter crypto derivatives tech platform Paradigm, told CoinDesk. Original
The recent attack that drained $197 million from Euler Finance was dubbed the biggest decentralized finance (DeFi) hack of 2023 so far. However, this may not hold for much longer as the hacker reportedly had a change of heart. On March 18, roughly 3,000 Ether (ETH) ($5.4 million) were returned to Euler Finance’s deployer address from the Euler Finance hacker’s address. Blockchain investigator PeckShield identified three transactions that were used to send the funds. https://t.co/4OBksAu9od pic.twitter.com/Zb3MIyex2f — PeckShield Inc. (@peckshield) March 18, 2023 Cointelegraph confirmed that the hacker transferred 1,000…
Volmex’s Bitcoin implied volatility index (BVIV) and Ether implied volatility index (EVIV) measure the expected price turbulence over 30 days, derived from real-time crypto call and put options. The indices can be considered analogous to Wall Street’s fear gauge, the VIX index, which is also derived from the options market tied to S&P 500. Source
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The NYAG sued KuCoin last week under state law, alleging that ether, post-Merge, is a security under the Ethereum blockchain’s proof-of-stake consensus mechanism. The NYAG also alleged that terraUSD (UST) and luna (LUNA) are securities, as well as KuCoin’s Earn platform. I’m not going to get into the last two – regulators have alleged for a while now that “earn” products are securities, and have settlements with various lenders to support that contention, and there are other cases looking at the terraUSD/luna ecosystem. Source
The volatility caused over $140 million in bitcoin futures and $80 million in ether futures to take on losses. Of this, 58% of futures losses came from shorts, or bets against price rises, while the remaining came from longs, or bets on price rises – meaning both short-sellers and long traders were hit almost equally. Source
USDC depegged over the weekend to 89 cents, and a Buterin-labeled wallet may have bought the dip. Source
The Fed and the FDIC have assured depositors that they could withdraw money from Silicon Valley Bank thereby instilling some confidence among crypto investors. In the early trading hours on Monday, March 13, the broader cryptocurrency market made a strong comeback surging past $1 trillion levels once again. This surprise rally in the crypto space came as the top three US regulators – the Federal Reserve (Fed), US Treasury, and FDIC – stepped in to control the unfolding crisis in the US banking sector. Earlier last week, the Silvergate Bank…
Binance tapped into its Industry Recovery Initiative funds to cover the move. Original
Markets jumped amid respite from the U.S. government and USD Coin-issuer Circle. Source