🌙 CME Just Flipped Binance

CME overtakes Binance in Bitcoin futures volume, indicating a rise in institutional interest but uncertain price implications.

Author

Mike Gavela
November 10, 2023

Crypto Roundup - Nov 10

The Chicago Mercantile Exchange (CME) surpassing Binance in Bitcoin futures volumes signals growing institutional interest in cryptocurrency. This shift may reflect anticipation for a Bitcoin ETF and the upcoming Bitcoin halving, but its impact on Bitcoin's price remains unclear. Meanwhile, an ethics watchdog has urged U.S. Senators to investigate allegations linking Circle, a stablecoin issuer, and Justin Sun's Tron network to money laundering and the financing of militant groups, including Hamas, a U.S.-designated terrorist organization. The watchdog cites concerns about cryptocurrency's use in illegal activities and Circle's integration with Tron potentially facilitating such actions. In other news, Solana's native token, SOL, has seen a 20% surge, reaching levels last seen before the Terra Luna collapse. This rally occurs amidst uncertainties regarding FTX Group's SOL holdings and could potentially benefit FTX customers if sustained.

Top Stories:

  • CME overtakes Binance in Bitcoin futures volume, indicating a rise in institutional interest but uncertain price implications.

  • Allegations emerge against Circle and Justin Sun's Tron for possible links to money laundering and financing of Hamas.

  • Solana's SOL token rallies 20%, potentially aiding FTX customers amidst ongoing asset uncertainties.

TOGETHER WITH
VINCENT SPOTLIGHT

Sponsored
Vincent SpotlightAlternative Investing News for the Savvy Investor

TOP STORIES

CME, Where Institutions Trade Bitcoin Futures, Flipped Binance. Is That as Bullish as It Sounds?

CoinDesk’s Omkar Godbole says rising open interest on the Chicago Mercantile Exchange isn't always the best indicator for bitcoin’s price.

www.coindesk.com/consensus-magazine/2023/11/10/cme-where-institutions-trade-bitcoin-flipped-binance-in-futures-volumes-is-that-as-bullish-as-it-sounds

Amp up Patriot Act to go after China’s crypto links to Justin Sun, says watchdog

US lawmakers should probe stablecoin issuer Circle's links to Justin Sun's Tron network and Hamas financing, an ethics non-profit tells senators.

www.dlnews.com/articles/regulation/watchdog-says-circle-and-tron-facilitating-money-laundering

Solana's SOL Rallies 20% in a Day, Erasing Woes of Past 18 Months

The Solana token's massive rally this year increases the odds that FTX customers will recoup all their lost money.

www.coindesk.com/markets/2023/11/10/solanas-sol-rallies-20-in-a-day-erasing-woes-of-past-18-months

FUNDRAISES

OTHER HEADLINES

Is the crypto winter showing signs of thawing?

New airdrops and bullishness about spot Bitcoin ETFs may signal an end to the crypto winter.

www.dlnews.com/articles/markets/is-the-crypto-winter-over

Meet Midas: A New Yield-Bearing Stablecoin Investing in U.S. Treasuries

The proposed stablecoin, which tokenizes ownership of Treasuries, mentions BlackRock, Circle, Fireblocks and Coinfirm as "institutional partners."

www.coindesk.com/business/2023/11/10/meet-midas-a-new-yield-bearing-stablecoin-investing-in-us-treasuries

Poloniex Now Among Top 10 Largest Cex Hacks With $125 Million Loss - The Defiant

Poloniex, the centralized crypto exchange owned by Tron founder Justin Sun, was hacked for an estimated loss of about $125M.

thedefiant.io/poloniex-now-among-top-10-largest-cex-hacks-with-usd125-million-loss

JPMorgan rolls out programmable payments for institutional blockchain platform JPM Coin

JPMorgan has rolled out programmable payment functionality for its institutional grade blockchain solutions JPM Coin and Onyx.

cointelegraph.com/news/jp-morgan-launches-programmable-payments-for-jpmcoin

CRYPTO TWITTER (X)

SHARE!

Love our newsletter? Share it with your friends, family, colleagues, interns who need to stay on top of the crypto markets! Join over 20,000 investors and crypto degenerates who read Midas Crypto daily!