Glassnode’s analysis of Uniswap and futures trading volumes reveals that the uptrend that began in the first quarter of 2023 began cooling off in April, with regulatory concerns and a lack of liquidity promoting risk-off tendencies among traders.Continue Reading on Coin Telegraph More
Defactor Labs partnered with law firm CMS to provide legal guidelines and documentation, choosing Luxembourg as the instrument’s governing jurisdiction. Meanwhile, Black Manta Capital Partners provided a broker-dealer license and marketplace powered by Tokeny’s ERC-3643 tokenization engine for Alpha Bonds.Continue Reading on Coin Telegraph More
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It was also a very long hearing, with Behnam alone speaking and answering questions for over two hours. The topic of the hearing was the draft bill authored by committee chair Glenn Thompson and House Financial Services Committee Chair Patrick McHenry. Continue Reading on Coin Telegraph More
Cboe Digital to date has offered trading and clearing of Bitcoin and Ether futures on a fully collateralized basis, which require customers to outlay the full amount of a futures contract upfront. The new margin model will require only a percentage of the total posted as collateral, enabling customers to trade futures in a less capital-intensive way. Trades will be executed and cleared through an approved set of member Futures Commission Merchants (FCMs) with Cboe Digital’s clearinghouse acting as the central counterparty. “We are grateful to the CFTC for working with us as we continue to build out our vision for a transparent, U.S. regulated crypto marketplace that welcomes intermediaries,” said John Palmer, President of Cboe Digital. “Derivatives are a time-tested and valuable tool that enable investors to gain market exposure and manage their risk.”Cboe Digital has the unique ability to trade spot and margin futures on the same platform, which fills a key gap in the US landscape, and brings greater cost and operational efficiencies to enhance customers’ trading experience. In addition to margin futures, Cboe Digital’s spot market supports trading in Bitcoin, Bitcoin Cash, Ether, Litecoin and USDC. Cboe Digital’s unified spot and derivatives markets are underpinned by responsible innovation. More
According to Inoue, Web3 is “inherently social and distributed.” The developer highlighted that everything is transparent since it is built on top of the blockchain. This makes the blockchain a “social graph,” commonly used to represent the interconnectedness of relationships in an online social network. Continue Reading on Coin Telegraph More
The SEC sued Coinbase in federal court today.“The Coinbase Platform merges three functions that are typically separated in traditional securities markets—those of brokers, exchanges, and clearing agencies. Yet, Coinbase has never registered with the SEC as a broker, national securities exchange, or clearing agency, thus evading the disclosure regime that Congress has established for our securities markets,” it is said in the lawsuit.The lawsuit also adds that Coinbase has acted as “an unregistered broker” since at least 2019.The exchange is accused of making billions of dollars “unlawfully facilitating the buying and selling of crypto asset securities.”“We allege that Coinbase, despite being subject to the securities laws, commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions,” said SEC Chair Gary Gensler in a press release.“In other parts of our securities markets, these functions are separate.”Coinbase shares fell 14.5% in pre-market Tuesday. The stock was down 9% yesterday after SEC sued Binance.Mizuho analysts said today that the Binance lawsuit includes language that could place a third of rival Coinbase’s sales at risk.Bitcoin is down 0.8% on the day. More
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