Key Takeaways Bitgo is seeking at least $100 million from Galaxy Digital over a failed 2021 merger worth $1.2 billion. Galaxy’s Mike Novogratz testified this week that U.S. regulatory probes did not affect the merger’s approval path. Chancellor Kathaleen McCormick will decide the case after Delaware’s Supreme Court revived it in May 2024. Bitgo CEO…
Key Takeaways Wallet 0xB4d3 sold 20,000 ETH worth $41.18M at an average price of $2,059. Spot ETH ETFs logged their tenth straight day of outflows on May 22, with $6.67M exiting in a single session. ETH’s $2,000 level is the critical support zone to watch as institutional and whale selling pressure intensifies. ETF Outflows Add…
Key Takeaways OCC charters for Coinbase, Ripple, and Bitgo sparked Warren scrutiny; 2026 rules fight next. ARMA’s 1M BTC reserve plan could lift demand like IBIT; Begich and Golden face a vote next. ZEC hit $686, ETH eyes 2026 relief, and Coinbase’s June 8 perps expand market rails next. WEEK IN REVIEW Crypto Bank Charter…
Key Takeaways The index dropped to -0.085% on May 22, its monthly low, per Coinglass. Data shows institutional selling on Coinbase has intensified as macro uncertainty is driving hedging. Bitcoin traded at $74,500 at publication, down over 4% for the week, with $1.3B in ETF outflows adding further pressure. What the Data Shows The Coinbase…
Key Takeaways SEC approved Nasdaq to list bitcoin index options on Phlx under ticker QBTC. Cash-settled QBTC contracts eliminate custody and assignment risks, broadening institutional bitcoin access. Trading cannot begin until the CFTC grants exemptive relief, as bitcoin is classified as a U.S. commodity. What Cash-Settled Means And Why It Matters The Securities and Exchange…
Key Takeaways Kraken secured preliminary VARA approval to expand crypto services in the UAE. Dubai’s crypto rules are attracting exchanges as global firms seek regulatory clarity. Kraken plans UAE staking, OTC, and derivatives services pending final approvals. Payward Gains UAE Crypto License Approval as Kraken Deepens Middle East Push Kraken is preparing to deepen its…
Key Takeaways Boerse Stuttgart’s Seturion platform partnered with 3 major financial firms to build European blockchain rails. The unified framework will slash transaction costs for flatexDEGIRO’s 3.5 million retail brokerage clients. Tokenized structured securities will be the 1st asset class to roll out on the new on-chain settlement network. Tokenized Assets and Trading Venues Boerse…
Key Takeaways ICE and OKX will launch perpetual Brent and WTI oil futures using ICE benchmarks. OKX expands beyond crypto as perp trading spreads into commodities and TradFi markets. ICE and CFTC are increasing focus on crypto-linked derivatives and perpetual oversight. OKX Pushes Perpetual Oil Contracts as ICE Expands Into Crypto Infrastructure Intercontinental Exchange, the…
Key Takeaways FDIC staff said depositors associated with the digital asset sector and active escrow depositors were more likely to run. Uninsured exposure intensified pressure, with more than 99.5% of Signature active escrow balances uninsured. Wire activity showed how quickly mobile funds left stressed banks during the 2023 runs. Digital Asset Depositors Moved Faster During…
Key Takeaways Bitcoin fell 2.8% Friday as Coinglass logged $577.9M in crypto liquidations. Sosovalue data showed $36.29M leaving spot bitcoin ETFs during Friday trading. Donald Trump warnings and Fed fears kept BTC below the $76K resistance zone. Bitcoin Loses Ground The $80,000 range once again appears increasingly distant, with bitcoin now trading below the $76,000…
