Bitcoin bulls continue to push BTC price upside as the market sentiment improves after the delivery of the monthly options. Retail and institutional investors are now more confident about BTC price hitting $40,000 and closing the year near $45,000.
CME Front Contract Premium percent to Coinbase spot at an all-time high amid positive sentiment. CME Bitcoin futures traded at a high of $39,300 at one point in the last 24 hours, almost a $1,000 premium to the spot price. It happens as futures and options traders remain bullish on Bitcoin.
Improved market and bullish sentiment from institutional investors ETFs like ProShares’ BITO, which invests in CME-listed bitcoin futures, contributes to the premium.🔰
Meanwhile, CME Bitcoin Futures Open Interest Market Share Percent has also hit higher, reaching almost 30%. It follows as Bitcoin and former CEO CZ agreed to federal criminal charges and pay $4.3 billion in settlement with U.S. authorities.
📌Changpeng Zhao’s Defense Melds Home Detention with Personal Accountability
📢In a remarkable twist in the ongoing legal saga surrounding former Binance CEO Changpeng Zhao, commonly known as CZ, his defense team has proposed an unconventional approach to his sentencing. Amidst the fallout from multi-billion dollar settlements and criminal admissions by the cryptocurrency exchange, CZ’s lawyers are advocating for a combination of home detention and personal accountability rather than traditional imprisonment. This proposal comes as CZ faces intense legal scrutiny following his guilty plea and Binance’s historic settlements with U.S. authorities.
Zhao’s legal troubles reached a new peak following Binance’s agreement to pay $4.3 billion in a settlement with the Department of Justice (DOJ) and his subsequent guilty plea in federal court in Seattle. Facing charges that have led to his stepping down as CEO, Zhao is currently out on bail, secured by a notable $175 million bond. His plea deal also includes a significant personal fine of $50 million, distinct from Binance’s settlement.
With prosecutors reportedly seeking an 18-month prison sentence, in line with federal guidelines, and speculations of a possible sentence extending up to 10 years, CZ’s defense strategy is notably unconventional. The proposed plan, focusing on home detention combined with an acceptance of responsibility, reflects a tailored approach to the unique circumstances of Zhao’s case.
This strategy underlines his clean criminal record and his high-profile status in the crypto industry, framing him as a figure willing to face the consequences of his actions while highlighting the potential for non-traditional sentencing.
Judge Rules Coinbase and SEC Granted Equal Argument Time
Amidst a legal showdown, Coinbase and the SEC vie for courtroom dominance over cryptocurrency regulations and unregistered securities.
The legal clash between Coinbase and SEC has revealed potential implications. A court decision has fueled anticipation in the legal standoff. The hearing holds the key to a precedent setting verdict.
In a recent turn of events, a U.S. District Court judge has greenlit a mutual proposition between cryptocurrency platform Coinbase and the Securities and Exchange Commission (SEC). This agreement entails an equitable division of the allocated oral argument time, splitting it evenly between the two entities.
Animoca Brands, AWS, and Polygon Labs Unite to Propel Web3 Development
The program’s primary objective is to support aspiring builders by guiding them through the entire life cycle of a Web3 startup.
Animoca Brands Corporation Ltd announced earlier today that it has formed a strategic partnership with Amazon Web Services (AWS), and Polygon Labs to support Web3 builders worldwide via the launch of the MoonRealm Express Accelerator.
Objectives of the MoonRealm Express Accelerator
Objectives of the MoonRealm Express Accelerator The program’s primary objective is to support aspiring builders by guiding them through the entire life cycle of a Web3 startup. From ideation to execution, the MoonRealm Express Accelerator offers a comprehensive package of resources, including Web3 masterclasses, builder-centric hackathons, and project incubation.
According to the announcement, this vision is set to become a reality through collaborative efforts that leverage Animoca Brands’ domain expertise, AWS’s robust capabilities, and Polygon Labs’ extensive network across Web3, cloud, Artificial Intelligence (AI), and blockchain technologies.
More than just a program, the MoonRealm Express Accelerator is a catalyst for change in the Web3 landscape. With a focus on emerging areas such as decentralized identity, SocialFi, and GameFi, the accelerator aims to encourage builders to explore new ideas and solutions within Animoca Brands’ flagship project, Mocaverse.
The inaugural cohort of the MoonRealm Express Accelerator will focus on building and extending Mocaverse’s ecosystem. This expansion centers around the recent launch of Moca ID and Realm Points on the Polygon chain, marking a crucial step in the evolution of Web3 technologies.
The program’s first hackathon, scheduled for early 2024, will challenge builders and projects to devise protocols that leverage and enhance the Moca ID on-chain identity ecosystem. Participants will also integrate Realm Points as essential assets, aiming to elevate Mocaverse as the premier platform for Web3 loyalty programs.
JP Morgan's Onyx is using an Avalanche subnet to connect portfolios to tokenized assets offered by WisdomTree.
Onyx by J.P. Morgan and Apollo Global unveiled a proof-of-concept with Avalanche under the Monetary Authority of Singapore's Project Guardian. The companies said in a press release it could transform asset and wealth management. The proof-of-concept illustrates the potential of blockchain, smart contracts, and tokenization to streamline portfolio management, particularly for alternative assets that have been challenging to trade and manage.
That's been bullish news for AVAX, the native token of the Avalanche ecosystem. After the announcement, AVAX rose to $20.31—14% price increase in the last 24 hours and a 60% price increase compared to last week, according to CoinGecko.
The LayerZero protocol, which this year hit a valuation of $3 billion after its Series B raise, is being used to connect Onyx Digital Assets with an Avalanche Evergreen subnet.
In super simple terms, an Avalanche Evergreen subnet is an individual blockchain that's been specifically designed to suit the needs of institutions. That means extra consideration has been given to network privacy, gas features, and permissioning. All of that infrastructure has made it possible for Onyx Digital Asset portfolios to access tokenized funds offered by WisdomTree. The $94 billion New York-based asset manager is also one of the firms in the running to launch a spot Bitcoin ETF. "This initiative under Project Guardian fundamentally aligns with Ava Labs’ mission to provide the tools and tech to digitize and tokenize the world’s assets while harnessing the speed, scalability, and customizability of Avalanche," Ava Labs President John Wu said in a statement.
Crypto Analyst Predicts Abrupt Bitcoin Rally, Says BTC Still in Massive Uptrend Despite Recent Corrective Move Henry Kanapi
An analyst who’s been making timely Bitcoin (BTC) calls recently believes that the crypto king is still poised for a big surge despite yesterday’s drop.
In a new video update, Credible Crypto tells his 351,400 followers on the social media platform X that Bitcoin may be in the latter stages of a wave four corrective move after dropping to a 24-hour low of about $35,266.
According to the trader, Bitcoin is gearing up to end its major wave four structure by forming an ascending triangle pattern on the lower time frame.
“More likely, I think it’s probably going to end up like [an ascending triangle]. That makes a lot of sense to me. Because again, triangles are often found in wave fours… That would look something like [a consolidation] here like an ascending triangle and then rip to the upside. That may be what we’re getting here at the moment…
It can take different shapes and forms but that makes a lot of sense here and then just continuation.”
BlackRock Not Planning Spot XRP ETF After Fake Trust Registration
Editor’s note: A previous version of this article, published on Monday, November 13, 2023, reported that BlackRock had registered an iShares XRP Trust. After publication, a spokesperson for BlackRock confirmed that the trust registration was falsified and had no connection to BlackRock. Crypto Briefing strives to provide accurate and reliable information to our readers. We regret this error and any confusion caused by the previous version of this article. Updates have been made to reflect the correct information as of November 13, 2023.
A fake filing designed to look like BlackRock had registered an iShares XRP Trust caused temporary speculation that the asset manager was preparing to apply for a spot XRP exchange-traded fund (ETF). However, a spokesperson for BlackRock has confirmed to media outlets that this filing has no connection to the firm and was falsified.
BlackRock does not currently have plans to submit an application for a spot XRP ETF to the Securities and Exchange Commission. The previous claim that BlackRock registered an iShares XRP Trust with Delaware’s Department of State appears to have been fabricated.
The fabricated filing, first spotted by users on Twitter, temporarily caused the price of XRP to spike over 10% in response to the filing. However, once it was revealed that the filing was fake, the price of XRP retreated closer to its previous level of 65 cents per token, according to CoinGecko.
Disney Unveils NFT Pin Collection & Trading Platform with Dapper Labs
Disney brings Star Wars and Pixar to NFT pin collecting with Disney Pinnacle.In collaboration with Dapper Labs, Disney announced today Disney Pinnacle, an NFT platform enabling fans globally to discover, collect, trade, and display digital pins from Disney, Pixar, and Star Wars.Each digital pin will be a unique NFT minted on the Flow blockchain. Fans will be able to access the platform via a mobile app, where they can build special pin collections and instantly trade with other collectors around
If $BTC Bitcoin shows a correction, its dominance might decrease. Ethereum could soar around $2700, leading altcoins to surge behind it, especially Binance Coin BNB $BNB $FLOKI's Sister token $TOKEN the REEF $REEF project, and BONK $BONK which could all demonstrate rapid rises.