US regulator fines crypto fund $150K for illicit Bitcoin loan

August 20, 2024 Coin Telegraph

Bitcoin

It’s part of the fallout from the industry-wide liquidity crunch triggered by FTX in 2022.

Cryptocurrency fund lkigai Strategic Partners agreed to pay the National Futures Association (NFA) in the United States a $150,000 fine for an allegedly illicit Bitcoin (BTC) loan, according to an Aug. 20 decision by an NFA hearing panel.

The action is part of the ongoing fallout from the industry-wide liquidity crisis following crypto exchange FTX’s collapse in 2022. It is also the latest instance of NFA — which helps regulate the United States derivatives market — policing activities in the spot cryptocurrency markets.

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Binance Pays $1.75 Million to Settle Irregular Derivatives Offering Procedure in Brazil

August 16, 2024 Bitcoin.com

Binance

Binance, one of the largest cryptocurrency exchanges in the world, has settled an administrative procedure with the CVM, the securities regulator of Brazil. The exchange proposed to pay 9.6 million Brazilian reais (approximately $1.75 million) to resolve a case involving the irregular offering of derivatives, including futures contracts and options, dating back to 2022. Binance […]

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DeFi market stages a comeback as derivatives surge

August 16, 2024 Coin Telegraph

Coin Telegraph

Onchain derivatives fuel DeFi’s resurgence, with daily volumes reaching $5 billion amid rising competition.

Following a relatively modest 2023, the decentralized finance (DeFi) market experienced a remarkable resurgence during the first half of 2024.

As of Aug. 16, the total value locked (TVL) within the ecosystem stands at $82.67 billion, up from $54.4 billion at the beginning of the year — representing a robust growth of 51.9%.

One of the primary drivers behind this substantial uptick has been the growing adoption of onchain derivatives. In fact, since the beginning of the year, the average daily trading volume for crypto derivatives has skyrocketed from $1.8 billion in 2023 to $5 billion.

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Binance reaches $1.7M agreement with Brazilian securities regulator

August 14, 2024 Coin Telegraph

Binance

Brazil’s CVM issued a warning to the crypto exchange in 2020 that it was offering residents derivatives products without authorization.

Cryptocurrency exchange Binance reached an agreement with Brazil’s Securities and Exchange Commission (CVM) over offering derivatives products.

In an Aug. 14 notice, the CVM said Binance agreed to pay 9.6 million reais — roughly $1.7 million at the time of publication — to the securities regulator. The CVM issued a warning to Binance in 2020 that the exchange was offering Brazilian residents derivatives products without authorization.

“Since the regulator’s first communication to Binance in 2020, the exchange has taken all necessary measures and actions to respond to the authority and comply with local requirements,” said Binance in a translated statement to Cointelegraph Brazil. “The CVM board’s decision to accept the proposed Term Sheet reaffirms that the adjustments and updates made by Binance over time are sufficient for the regulator.”

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Crypto.com Opposes Proposed US Ban on Prediction Markets and Event Contracts

August 11, 2024 Bitcoin.com

bitcoin.com

Crypto.com Senior Vice President Steve Humenik has joined Coinbase by voicing opposition to a proposed rule change by the Commodity Futures Trading Commission (CFTC) that could lead to the prohibition of prediction markets in the United States. In a letter to the CFTC, Humenik expressed concerns about the implications of the proposed regulation, urging the […]

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Bitcoin Smashes $59,800 as $212M in Liquidations Rattle Traders

August 8, 2024 Bitcoin.com

Bitcoin

The crypto economy experienced a 5.6% boost over the past 24 hours, reaching $2.07 trillion by Thursday. Bitcoin has soared past the $59,800 mark, while ethereum has exceeded $2,500 per coin. This rapid climb on Aug. 8 resulted in $212.59 million in derivatives liquidations across the entire crypto market within the last day. Crypto Economy […]

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Crypto Carnage: $1.15B in Leveraged Positions Annihilated as Bitcoin Nosedives

August 5, 2024 Bitcoin.com

Crypto Carnage: .15B in Leveraged Positions Annihilated as Bitcoin Nosedives

bitcoin.com

As of 9 a.m. EDT on Monday, the crypto market experienced a $1.15 billion loss in derivatives positions, with $975.93 million of these being long positions. Of that total, approximately $403.82 million came from BTC positions, while $364.98 million resulted from ETH positions being liquidated. Mass Liquidation Madness On Monday morning, the crypto market faced […]

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Traders Piling Into Bullish Bitcoin Bets for 2024 US Election, According to Analytics Firm Kaiko

July 31, 2024 The Daily Hodl

2024 election

New data from crypto analytics firm Kaiko reveals that traders are flocking toward bullish Bitcoin (BTC) bets for the upcoming presidential election. In a new paper, the Kaiko team finds that derivatives traders are placing tens of millions of dollars worth of bullish BTC bets on crypto options exchange Deribit’s new election contracts. “Options traders […]

The post Traders Piling Into Bullish Bitcoin Bets for 2024 US Election, According to Analytics Firm Kaiko appeared first on The Daily Hodl.

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Bybit Rises to Second Place in Global Crypto Exchange Rankings, Kaiko Report Reveals

June 25, 2024 Bitcoin.com

Binance

According to a recent report by Kaiko, Bybit has surged to become the world’s second-largest cryptocurrency exchange by volume, overtaking Coinbase and closely trailing Binance. This climb is attributed to significant increases in market share following the launch of spot bitcoin exchange-traded funds (ETFs) in the United States. Bybit Climbs Crypto Exchange Ladder The report […]

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Ahead of Ether ETFs Debut, Bitmex Introduces 200x Leverage for Ethereum

June 5, 2024 Bitcoin.com

bitcoin.com

On June 5, 2024, the crypto derivatives exchange Bitmex announced it is offering 200x leverage for ethereum perpetuals ahead of the U.S. ether exchange-traded funds (ETFs) trading debut. Bitmex Ramps Up Ethereum Trading With 200x Leverage Offering According to a social media post on X published Wednesday, Bitmex is introducing 200x leverage perpetuals for ethereum […]

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