Everything web3, crypto, defi, degen
In brief A record $31 billion in Bitcoin options are set to expire on Halloween, surpassing last month’s $18 billion despite October’s flash crash that wiped out $19 billion in leveraged positions. Open interest at Deribit has reached an all-time high of $50.27 billion, with significant put contracts at $100,000 and call contracts at $120,000…
In brief Payments processor Zelle will use stablecoins to expand internationally. Zelle is owned by Bank of America, Capital One, JPMorgan Chase, PNC Bank, Truist, U.S. Bank, and Wells Fargo. The environment for stablecoins has improved following the passage of the U.S. GENIUS Act. Payments processor Zelle’s parent company said Friday that Zelle would start…
In brief Crypto.com filed an application with the Office of the Currency Comptroller (OCC) for a national bank trust charter. The firm joins a growing list of crypto companies seeking the charter, like Coinbase, Circle, and the Stripe-owned Bridge. National banks can now custody crypto, and more crypto-friendly regulation may be on the way—like access…
In brief Consumer prices rose 3% in the 12 months through September. Friday’s CPI report was delayed by an ongoing government shutdown. The Federal Reserve is expected to cut interest rates next week. Bitcoin and other cryptocurrencies rose on Friday after a widely watched inflation gauge showed consumer prices rose at a slightly slower-than-expected pace in…
In brief Medium-sized Bitcoin holders, or “dolphins,” have continued accumulating even after the $19 billion liquidation earlier this month, helping preserve the bull-market structure, CryptoQuant said. The group’s annual holdings growth of 907,000 BTC hints at long-term strength, though a dip below the 30-day moving average points to fading short-term demand. Altcoins are showing renewed…
In brief President Trump pardoned Binance founder Changpeng Zhao on Thursday. Digital coins linked with both the president and Zhao rose as a result. Zhao backed the crypto project linked to President Trump, World Liberty Financial, ahead of the pardon. Digital assets related to Binance and President Donald Trump surged on Thursday following news that…
In brief An Ethereum wallet belonging to an alleged Trump insider closed a massive Bitcoin short position Wednesday, netting $6.4 million in profits. The wallet previously earned close to $200 million earlier this month by shorting ETH and BTC ahead of the record-breaking crypto liquidations. The latest trade brings the wallet’s lifetime earnings to nearly…
In brief Investment bank Benchmark on Thursday raised the price target for Nasdaq-listed Bitcoin mining machine manufacturer Canaan. The company’s stock is up this week. Benchmark analyst Mark Palmer says the firm’s stock now is a good buy. Investment bank Benchmark raised Bitcoin mining hardware manufacturer Canaan’s price target to $4, citing the firm’s recent…
In brief Beyond Meat stock has dropped sharply from its Wednesday high, which came after it surged by 1,435% over six days. A prominent BYND trader believes this is just a healthy retrace after “mass hysteria” pumped the BYND stock. However, some analysts believe the hype will fade and the stock will return to its…
In brief Predictors on Myriad are leaning bullish while crypto majors range. Odds have swung back in favor of Bitcoin reaching $120K before $100K, and ETH hitting $4,500 before $3,100. With just two teams left, odds for the Los Angeles Dodgers to win the World Series have hit 70%. Crypto traders are undecided about which…
