DeFI News by Thebittimes.Com

Former CEO of Systematic Alpha Management LLC Peter Kambolin has pleaded guilty to a “cherry-picking” scheme involving crypto currency futures contracts, marking a first-of-its-kind case. In an unprecedented case, Peter Kambolin, ex-CEO of Systematic Alpha Management LLC (SAM), has admitted guilt in a “cherry-picking” scheme involving crypto currency futures contracts. This practice, known as “cherry-picking”, involves investment managers purposefully allocating lucrative or unprofitable trades to select accounts, allowing them to garner significant profits. The U.S. Department of Justice (DOJ) revealed that Kambolin manipulated the allocation of profits and losses from these futures trades to benefit his personal accounts. CEO Pleads Guilty to Transnational Scheme Involving Foreign Exchange and Cryptocurrency Futures Contractshttps://t.co/aiafUgfRS3 — Criminal Division (@DOJCrimDiv) October 12, 2023 You might also like: Coinbas...

In a stark contrast of trading volumes, the debut of Ethereum futures ETFs on CME witnessed a modest start, with trading activity in the first 15 minutes hovering below $2 million. This pales in comparison to their Bitcoin-based counterparts, which boasted volumes a hundred times greater. Bloomberg analyst Eric Balchunas suggests that these numbers are common for new ETFs but relatively low for Ethereum (ETH), given its market size. According to Balchunas, the top performer was Valkyrie’s ETF, based on a combination of the first and second-largest cryptocurrencies by market capitalization, with a trading volume of $787,000. VanEck’s Ethereum futures-only ETF had a modest volume of just over $300,000. Pretty meh volume for the Ether Futures ETFs as a group, a little under $2m, about normal for a new ETF but vs $BITO (which did $200m in first 15min) it is low. Tight race bt VanEck and ProShares in the single eth lane. pic.twitter.com/F9AHtrVcVf — Eric Balchunas (...

The crypto market, characterized by its volatility, often witnesses unprecedented surges and sudden declines. However, the recent uncertainty surrounding Ripple’s XRP has shaken the very foundations of the crypto community. With the SEC reigniting their battle against Ripple, potential investors are grappling with doubts over XRP’s future. Yet, even in this clouded climate, some top altcoins are emerging as beacons of promise. At the centre of this new-age investment frontier stands  InQubeta  and its native token, $QUBE, followed closely by Fetch.AI (FET) and the Injective Protocol (INJ). While it’s tempting to focus solely on the potential downfall of XRP, it’s equally critical to keep an eye on emerging crypto currency ICOs. InQubeta ($QUBE): the vanguard of AI-driven investment The intersection of blockchain and Artificial Intelligence is an unparalleled fusion of technology. InQubeta has harnessed this promise, positio...

Demand for leverage buying remains absent in ETH despite the recent bounce to $1,200 as the U.S. Federal Reserve continues to hike interest rates. Ether (ETH) gained 5.6% on Dec. 20 after testing the $1,150 support the previous day. Still, a bearish trend prevails, forming a three-week-long descending channel, a price action attributed to expectations of further U.S. Federal Reserve interest rate hikes. Ether/USD price index, 12-hour. Source: TradingView Jim Bianco, head of institutional research firm Bianco Research, said on Dec. 20 that the Fed will keep the economy tightening in 2023. Later that day, Japan’s central bank increased interest rates to fight inflation, far later than its counterparties. The unexpected move made analysts more bearish toward risk assets, including cryptocurrencies. Ethereum might have caught some tailwind after the global payment processor Visa proposed a solution to allow automatic funding from Ethereum wallets. Auto-payments for recurring bills aren’t ...

The Ether futures premium remains negative, while options markets are pricing similar risks for bulls and bears. Source: https://thebittimes.com/ethereum-open-interest-hits-7-7b-raising-the-chance-of-a-short-squeeze-above-1-5k-tbt25689.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam Category: Ethereum News Post by: TheBitTimes.com