Author: Max Bauer

Feixiaohao, the largest simplified Chinese cryptocurrency market data website akin to Coingecko, is suspected to be under investigation by Chinese authorities, with its team potentially arrested. The reason behind the investigation, which has been ongoing for over half a year, remains unclear. Many of Feixiaohao’s exchange partners have reported being unable to contact them. This incident brings back memories of the 2018 ICO boom when platforms like MyToken issued their own platform coins (MT in MyToken’s case). Feixiaohao also had a coin associated with it, BQT, but the platform never officially recognized it as its own. With MyToken’s sale, only…

Gnosis Chain’s community is actively reconsidering its gas token choices following MakerDAO’s rebranding to Sky and the introduction of its new stablecoin, Sky Dollar (USDS). Gnosis, a sidechain, currently utilizes a bridged version of DAI, known as xDAI, to cover gas fees on its network. MakerDAO, the issuer of the crypto-collateralized stablecoin DAI, is implementing its “endgame” plan. This plan allows DAI holders to optionally upgrade their tokens to USDS at a 1:1 ratio, with potential native token rewards. However, the new USDS stablecoin potentially introduces more centralized features, such as the ability to “freeze” wallet addresses and restrict access…

El Salvador’s President Nayib Bukele remains optimistic about his country’s bold Bitcoin strategy, despite acknowledging that adoption hasn’t reached the levels he initially anticipated. In an interview with TIME Magazine, Bukele stated, “Bitcoin hasn’t had the widespread adoption we hoped for.” Nevertheless, the president maintains that the endeavor has been a “net positive,” bringing benefits such as increased branding, investment, and tourism. Bukele asserted that El Salvador has not experienced the negative consequences that institutions like the IMF had warned about. Since El Salvador made Bitcoin legal tender in 2021 and started accumulating it as a treasury asset, the country…

Renowned economist Timothy Peterson has made a bold prediction that Bitcoin’s price could skyrocket to $100,000 within the next three months. Peterson’s forecast is based on an intriguing correlation he has observed between high-yield bonds (HYG) and Bitcoin’s price movements. In a recent analysis, Peterson highlighted that when Bitcoin is undervalued relative to HYG, it tends to significantly outperform in the subsequent three months. This relationship holds true for periods of one month or longer, suggesting a strong predictive power of high-yield bonds on Bitcoin’s price. Conversely, when Bitcoin is overvalued compared to HYG, it tends to underperform, potentially leading…

A recent Q2 research report, commissioned by OKX and authored by The Economist, has shed light on the growing interest in digital assets among institutional investors. The report projects that by 2030, the value of tokenized assets could surpass a staggering $10 trillion. Currently, asset managers typically allocate a modest 1%-5% of their portfolios to digital assets. However, institutional investors are signaling their intent to ramp up this allocation to approximately 7% by 2027. Notably, the report indicates a growing appetite for investment tools beyond cryptocurrencies, such as pledges, crypto derivatives, and tokenized bonds. This institutional shift is corroborated by…

Telegram founder and CEO Pavel Durov has not been released and has been transferred from police custody to the court. The case’s outcome is yet to be determined. Market fluctuations suggest that the price of TON, a cryptocurrency associated with Telegram, increased by more than 10%, possibly due to false news circulating in the market stating that “Pavel Durov was released.” The price reached a high of approximately US$6 before quickly falling to around US$5.6. French officials have confirmed that Durov is facing potential charges related to alleged illegal activities on the Telegram platform, including child pornography dissemination and drug…

PolitiFi token category, which includes tokens related to US election figures and political memes, has significantly outperformed the broader Meme coin category in 2024. According to a recent report by cryptocurrency data aggregation platform CoinGecko, PolitiFi tokens saw a staggering 782.4% increase between January 1 and August 25, while Meme coins only grew by 90.2% during the same period. Despite this remarkable growth, PolitiFi tokens still represent a relatively small portion of the Meme coin market. As of August 25, the PolitiFi sector’s market capitalization stood at $680.8 million, capturing a 1.5% share of the $45.6 billion Meme coin market.…

Adam, a macro researcher at Greeks.live, recently noted on X that after several unsuccessful attempts to break through key resistance levels, cryptocurrencies have entered a correction phase. According to Adam, this shift is reflected in the significant drop in implied volatility (IV) across major maturities. Bitcoin’s (BTC) Dvol has fallen below 50%, a level seen only 30% of the time in the past year. Options data further reveals that realized volatility (RV) has plummeted from 100% on August 9th to its current level of 40%. The sharp decline in BTC’s actual volatility has also played a significant role in driving…

Defunct crypto lender Celsius Network is in the final stages of its massive creditor payout process, having distributed over $2.53 billion to date. This represents roughly 93% of the total eligible funds owed, according to a recent court filing. Over 250,000 creditors from 165 countries have received distributions, primarily through PayPal, Venmo, and Coinbase. However, around 121,000 creditors are yet to claim their share due to complexities in the process. The remaining unclaimed amounts are largely small, with many creditors owed less than $1,000. The Plan Administrator has made numerous attempts to reach these creditors but acknowledges that the small…

The CME Group, the world’s leading derivatives marketplace, has announced plans to introduce Bitcoin Friday Futures (BFF) on September 30, 2024, pending regulatory review. This new offering aims to provide a more accessible and flexible way for traders to gain exposure to Bitcoin. Each BFF contract will represent 1/50 of a Bitcoin, significantly lowering the capital requirements for trading compared to existing BTC futures contracts. This smaller contract size is expected to attract a wider range of investors, including retail traders who may have been previously priced out of the market. The BFF contracts will expire every Friday at 4…