Ruling to keep Tornado Cash developer in jail for 90 days sparks backlash
A judge ruled that the developer must stay in jail for 90 days while awaiting charges and a court date.
A judge ruled that the developer must stay in jail for 90 days while awaiting charges and a court date.
It’s a new record for the CME. The Chicago Mercantile Exchange’s front-month contracts exhibit a large discount compared to bitcoin’s spot market price. These are the futures contracts that are soon to expire. The CME’s quarterly contracts tend to trade at a minimum premium, and this kind of discount for front-month contracts is not usual. They’ve been trading at a discount for a couple of months, but they reclaimed a premium with the market recovery at the beginning of August. As we all know, that didn’t last. Related Reading: Why Has Bitcoin Futures Open Interest Flatlined? Factors The CME futures contracts on bitcoin have been available since December 2017. The CME’s front-month contracts haven’t traded this low since July 21st of 2021, more than a year and a half ago. At that time, a hardcore short squeeze followed the phenomena. The liquidation amounted to more than $750 million worth of shorts, “leading the open interest denominated in bitcoin to fall by 47,000 BTC,” Arcane Research tweeted. A couple of interesting charts from this week:$757 million worth of shorts was liquidated yesterday, leading the open interest denominated in bitcoin to fall by 47,000 BTC. Sources: @bybt_com, @skewdotcom, and @tradingview pic.twitter.com/XGcpO4jmSq — Arcane Research (@ArcaneResearch) July 27, 2021 In the most recent “The Weekly Update” report, Arcane Research tackled the CME futures situation: “The futures basis on CME’s most traded BTC contract, the front-month futures contract, is trading in sharp backwardation as the annualized basis reached an all-time low yesterday, averaging at -3.36%.” CME BTC Futures Annualized Rolling 1-Month Basis | Source: The Weekly Update Why Are CME Futures Trading This Low? There are macro factors, like the bitcoin futures market showing signs of market exhaustion. We at NewsBTC explained the situation as follows: “The reason behind the bitcoin futures premiums being down can be attributed to sell-offs that have rocked the digital asset in recent times. Not only have the sell-offs been apparent in investors who are directly exposed to the cryptocurrency but those who have exposure through traditional markets vehicles like ETFs have been selling off too.” BTC futures on CME for 08/25/2022 | Source: TradingView.com However, Arcane Research’s “The Weekly Update” also identifies very specific factors. These are related to the present and the ProShares Bitcoin Strategy ETF or BITO: “The growing discounts in the front-month contracts might be explained in part by structural effects. BITO has begun rolling their August contract exposure, possibly causing downward pressure on the front-month contracts. Yesterday, BITO rolled over 1000 August contracts and will roll over a further 3000 August contracts by Friday. Previous rolling periods have tended to be accompanied by a declining front-month basis.” Related Reading: One Coin, Two Trades: Why Bitcoin Futures And Spot Signals Don’t Match Up In any case, we can’t discard the situation as a normal occurrence. The discount is too steep. According to Arcane Research, it might be related to the disastrous start of the week for Nasdaq and the S&P 500. Or to the dollar gaining strength. Or to a general lack of liquidity. One thing’s for sure, something’s going on. Featured Image by Markus Spiske on Unsplash | Charts by TradingView and The Weekly Update
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Voyager Digital will pay $1.9 million in retention bonuses to key staff members to ensure the beleaguered cryptocurrency lender can continue operating through bankruptcy proceedings.
There are growing doubts about the regional economic bloc known as the East African Community’s ability to successfully launch a single currency by 2024, a report has said. One of the reasons for this is member states’ delays in meeting targets as set out in the roadmap. Attainment of Single Regional Currency a Top Priority […]
Is it ok to keep ETH on paper wallet during the update September 15? Cheers! submitted by /u/Stimorolgum [link] [comments]
Dogechain is a new Layer 2 Ethereum that uses DOGE as gas fee. It's basically a chain filled with shitcoin scam and not approved by the majority of DOGE community. Now they launched their own token called DC by airdropping to any wallet that uses Dogechain before 23rd August. The developer got 20B tokens upfront…
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Bitcoin price recently completed a two-month surge that resulted in a price increase to over $25,000; consequently, investors are now concentrating on the cryptocurrency’s next target price. Bitcoin price spikes to over $25,000 following a two-month surge Bitcoin now looking bearish; struggling to keep its price above $20,000 BTC down by 0.12%; currently trading at $21,498.36 Bitcoin (BTC), the leading cryptocurrency, is now displaying negative sentiment after first exhibiting bullish indicators. The flagship coin is now fighting once more to keep its price above $20,000. By the end of September 2022, the cryptocurrency community on CoinMarketCap forecasts that Bitcoin price will climb by 36.75% from its current value, trading at an average price of $29,346. Roughly 20,683 community members cast their votes to determine the pricing target. BTC Unable To Surpass $25,000 Due To Macroeconomic Conditions The price of bitcoin fluctuates by about $21,000. Even though Bitcoin’s recent rally tried to lift the asset out of a prolonged bear market, the community’s forecast is still optimistic. The crypto market reacted poorly to the Federal Reserve’s decision to raise interest rates amid the rising inflation, but BTC’s failure to surpass $25,000 has emerged as macroeconomic concerns continue to take center stage. At the time of publication, Bitcoin was significantly down 10% over the previous week. Bitcoin price stabilizes above $21,000 as a major shift is soon to come. Related Reading: Want to Hodl USDC? Check These Indicators First To Ease Doubt Chart: CoinMarketCap According to Katie Stockton, founder, and managing partner at Fairlead Strategies, the price of Bitcoin, the most popular cryptocurrency, is anticipated to retrace to $18,300. The largest coin in the world has fallen below its 50-day moving average, according to Stockton, which may be a signal of an oncoming significant decline. Despite the turmoil, cryptocurrency trading specialist Michal van de Poppe said in a tweet on August 23 that Bitcoin is stable and could derive some advantages from the Eurozone’s activities. In the past, BTC has a tendency to fall between -14% and -28% below the 200-MA. In fact, mid-June saw a -21% decrease in BTC below the 200-week MA, which was in sync with historical data, he noted. Stockton Predicts Long-Term Downturn For Bitcoin Price Since the cryptocurrency has lost momentum, analyst now sees a higher risk of a long-term downturn. Stockton predicts that the largest cryptocurrency’s price will soon settle. Stockton predicts that it will most certainly drop to the low $18,000 level following a brief relief rally. Unfavorable macroeconomic conditions have had a significant negative impact on the cryptocurrency industry this year, with Bitcoin currently trading at a price that is almost 69% below its all-time high. Related Reading: Litecoin (LTC) Near-Term Route Could Be Determined By This Factor BTC total market cap at $414 billion on the daily chart | Source: TradingView.com Featured image from Bernard Marr, chart from TradingView.com
Dear DeFi enthusiasts and GMX fans I have developed a GMX Staking Calculator, which should simply show you how much esGMX + ETH Rewards you are earning from staking the GMX Token. The GMX Calculator is based on live-data from the gmx exchange and uses the 7-day-average of fee revenue which gets distributed to GMX…
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Hope the community can help me with some perspective. I know the whole point of the ETH merge is to move to proof of stake. So cool! If you cant be your own validator and go with one of the popular staking options Rocketpool and get rETH. It's right to say your taking risks of…
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