Quick Summary: Coinbase now offers non-U.S. traders perpetual futures on stocks like Apple and Tesla, with up to 20x leverage and 24/7 trading settled in USDC. Coinbase has introduced perpetual stock futures for traders outside the United States, giving them the ability to take leveraged positions on major companies and index-tracking funds. The available underlying assets include Apple, Microsoft, and Tesla, along with ETFs that track the S&P 500 and Nasdaq indexes. The launch represents a notable expansion of the exchange’s derivatives offerings to an international audience.The contracts are available around the clock, seven days a week, and are settled…
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Quick Summary: Bitcoin recovers above $70,000 as geopolitical tensions ease, while prediction markets see major deals and Crypto.com announces AI-driven layoffs. Bitcoin staged a recovery on Thursday after a difficult stretch earlier in the week, climbing back above $70,400 after briefly dipping below $69,000. The rebound came as risk assets broadly recovered following comments from Israeli Prime Minister Benjamin Netanyahu suggesting the conflict with Iran could conclude sooner than widely anticipated. Oil futures, which had swung as much as 15% intraday, reversed lower, easing some of the inflation and macroeconomic pressure that had been weighing on digital assets. Gold slipped…
Quick Summary: Morgan Stanley has filed a second amended S-1 for a spot Bitcoin ETF under the ticker MSBT, detailing seed capital, authorized participants, and NYSE Arca listing plans. Morgan Stanley has submitted a second amended S-1 registration filing for a proposed spot Bitcoin exchange-traded fund, bringing the Wall Street bank closer to launching the product under the ticker MSBT. The filing outlines the fund’s seed capital structure, trading partners, and plans to list on NYSE Arca. The trust expects to raise $1 million through the sale of 50,000 initial seed shares to its delegated sponsor prior to listing, with…
Quick Summary: CoinDesk reporters Ian Allison and Tracy Wang win a George Polk Award for financial reporting that triggered the collapse of Sam Bankman-Fried’s crypto empire. CoinDesk has received its first major journalism award after reporters Ian Allison and Tracy Wang were named winners of a George Polk Award for financial reporting. The honor recognizes three stories that contributed to the downfall of Sam Bankman-Fried’s cryptocurrency empire, which had been valued at roughly $32 billion. Previous recipients in the financial reporting category include The Wall Street Journal for its coverage of Theranos and the International Consortium of Investigative Journalists for…
Quick Summary: Nasdaq has deployed AI agents across surveillance and compliance over 18 months, while crypto platforms are tipped to lead retail-facing AI trading tools. Nasdaq has significantly broadened its deployment of AI agents over the past year and a half, integrating the technology into market surveillance, compliance operations, and market microstructure analysis. Despite the expanded role of these systems, human oversight remains a core requirement, with people retaining final decision-making authority. The exchange’s rapid adoption signals a broader shift in how major financial institutions are incorporating AI into critical workflows.Pranav Ramesh anticipates that cryptocurrency trading platforms will emerge as…
Quick Summary: Trillions in equity and index derivatives expire Friday during quadruple witching, with analysts warning of potential crypto market downside in the days ahead. A quarterly financial event known as quadruple witching is set to unfold on Friday, during which trillions of dollars in equity and index derivatives are scheduled to expire simultaneously. The event occurs four times a year and is closely watched by traders across traditional and digital asset markets. Analysts note that the expiration of such large derivative positions can introduce significant turbulence into broader financial markets.Cole Kennelly, chief executive of Volmex Finance, has stated that…
Quick Summary: Bitcoin slipped to $69,000 but outperformed gold and silver as Middle East conflict and energy infrastructure attacks unsettled global markets. Bitcoin declined to $69,000 amid rising geopolitical tensions in the Middle East, yet the cryptocurrency demonstrated relative resilience compared to many traditional assets. Attacks on energy infrastructure added to broader market unease, sending ripples across global financial markets. The digital asset’s performance stood in contrast to sharp declines seen elsewhere.Oil prices surged back toward $100 a barrel, reigniting concerns about persistent inflation. The rally in crude prompted renewed speculation that central banks could maintain elevated interest rates for…
Quick Summary: IMC Trading has hired Alex Casimo as chief commercial officer for its crypto business as the firm trades around $3 billion daily across 50 exchanges. IMC Trading has brought on Alex Casimo as chief commercial officer for its cryptocurrency business, according to a source familiar with the matter. The appointment signals a continued focus on expanding the firm’s presence in digital asset markets. IMC has built a substantial footprint in the crypto space, with daily trading volumes reaching approximately $3 billion. The firm operates across 50 exchanges as part of its crypto operations.The hire comes at a time…
Quick Summary: Crypto prime broker FalconX is exploring a public listing, with Cantor among the banks pitching for a role despite no formal appointments made yet. FalconX, an institutional-focused crypto prime broker, is evaluating plans to go public, according to sources familiar with the matter. The company has yet to formally appoint any investment banks to lead the process. Several firms are understood to be competing for a role in the potential offering.Cantor is among the banks that have pitched FalconX as it considers its listing options. No bankers have been officially selected at this stage, sources indicate. The outreach…
Quick Summary: Coinbase Asset Management is launching a tokenized share class of its Bitcoin Yield Fund on Base, partnering with fund services firm Apex Group. Coinbase Asset Management (CBAM) is launching a tokenized share class of its Bitcoin Yield Fund on the Base blockchain, the company has announced. The move is being made in partnership with Apex Group, a fund services firm that manages approximately $3.5 trillion in assets. The initiative reflects a growing trend among major asset managers to migrate fund infrastructure onto blockchain networks.The primary goals behind bringing the fund onchain include reducing operational costs, accelerating settlement times,…
