Biggest Expiry of Ethereum Options Looks to Amp Up ETH Volatility

Key Takeaways Ethereum options contract worth $415 million will expire on Deribit on Sept. 25. A large volume of open interest increases the expectations of price volatility. At current prices, most options traders are expected to lose money. Share this article Options expiring this Friday represent $412 million in open interest, the largest expiry of Ethereum options to date. Expect higher price volatility for ETH. Ethereum Options Traders Anxious Before Expiry Deribit is the leading portal for options contracts on Bitcoin and Ethereum with 75% and 92% market share, respectively. …

Christie’s First Crypto Art Auction, 40-Piece Portrait of Satoshi Nakamoto

Key Takeaways The artist Benjamin Gentilli spent three years hand crafting 40 Bitcoin related art pieces for the collection. This will be the first auction for NFTs at world-renowned auction house “Christie’s.” Share this article Christie’s, a New York-based auction house, is scheduled to host the auction of “Block 21,” the first public piece of a Bitcoin-focused artwork collection called “Portraits of a Mind.”  Consisting of 40 individual art pieces, the collection tries to encapsulate the portrait of Satoshi Nakamoto. In the absence of a person behind the pseudonym, the…

ECB Seeks to Eliminate Stablecoins, Accelerate Digital Euro Plans

Key Takeaways The President of the ECB Christina Lagarde iterated hopes around the launch of a digital euro to complement cash. Another report published by ECB’s Crypto-Assets Task Force aims to improve the stablecoin terminology and address the potential threats arising from the increasing adoption of various stablecoins.  The total supply of existing stablecoins has tripled since the beginning of this year, surpassing $18.5 billion.  Share this article The ECB’s President and crypto task force view stablecoins as a threat to the sovereignty of the central bank. Europe’s central bank…

Sia’s Parent Company Raises $3 Million and Launches Rebrand

Key Takeaways Nebulous, the company that develops Sia, has rebranded and shifted its focus to Skynet. Skynet is the company’s decentralized web hosting platform. The company has raised $3 million for future development. Share this article Nebulous, the parent company behind Sia, has rebranded under the name Skynet Labs and raised $3 million for future development. Sia’s $3 Million Funding Round Skynet’s $3 million funding round was led by Paradigm, along with Bain Capital Ventures, Bessemer Venture Partners, A.Capital, Collaborative Fund, Dragonfly Capital Partners, Hack VC, INBlockchain, First Star Ventures.…

Permissionless Bitcoin Is Back on Ethereum After Early Disaster

Share this article Permissionless Bitcoin product, tBTC, is re-launching on Ethereum mainnet, but this time with adequate safety measures. The smart contracts have been audited extensively, and the protocol will limit the supply of tBTC, gradually lifting the cap with time. tBTC Adds More Bitcoin to Ethereum Keep Network was forced to pull the plug on their Bitcoin-Ethereum bridge, tBTC, just two days into the network’s mainnet launch. Four months later, tBTC is live on mainnet after audits by Trail of Bits. The team behind the project has opted for a…

After Two Police Raids, Bitcoin Exchange Bithumb Up for Sale

Key Takeaways The biggest South Korean crypto exchange is up for sale. An unknown number of buyers have made offers in the range of $430 to $600 million. The buyer will be responsible for implementing the Special Payments Act. Share this article Bithumb, the largest cryptocurrency exchange in South Korea, is allegedly up for sale to the highest bidder, according to the South Korean news outlet Herald. Responsible for more than 50% of the domestic trading volume with 4.77 million users, Bithumb is considered the primary driver of cryptocurrency trading…

Cardano Finally Flashes Buy Signal After 50% Nosedive

Key Takeaways Cardano returned to price levels not seen since the beginning of the summer. Despite the massive losses incurred, buy signals are beginning to pop up. A spike in buying pressure behind ADA could see it rise to $0.093. Share this article Following a month-long corrective period, Cardano looks poised to rebound and possibly resume the uptrend seen before the Shelley upgrade. Cardano Flashes Buy Signals Cardano took a 50% nosedive after making a new yearly high of $0.155 in late August. The massive losses incurred over the past month saw…

American Regulators Warm up to Crypto, Banks Authorized to Hold Stablecoins

Key Takeaways OCC in the U.S. has granted banks access to hold reserves of fiat deposits backing cryptocurrency-based stablecoins.  The SEC also published a statement on top of it which would exempt some stablecoins from invoking securities laws. While a big win for crypto, crypto activists demand the service to be extended to non-hosted wallets as well.  Share this article The U.S. Office of the Comptroller of the Currency (OCC) cleared national banks and Federal Savings Associations (FSA) to hold stablecoin reserves. Further, the SEC also moved to ease the…

Exorbitant Gas Fees on Ethereum Force UniLogin to Shutter Operations

Key Takeaways UniLogin founder believes that DeFi is pricing regular users out of Ethereum. Onboarding a new user on the platform sometimes cost over $130 in fees. Implementing a Layer 2 solution meant starting from zero as the project’s infrastructure was overly complex. Share this article UniLogin, an Ethereum onboarding solution and wallet, is shutting down due to high gas fees, an inability to scale, and browser issues. DeFi has been the main culprit behind rising transaction fees and the ultimate reason for the project’s death. In an official blog…

Craig Wright of Bitcoin SV Won’t Escape Latest Crypto Lawsuit

Key Takeaways Craig Wright of Bitcoin SV has been sued by the estate of his former partner, David Kleiman. Wright’s attempts to dismiss the lawsuit via a summary request have been denied by a federal court judge. The lawsuit has not been settled, but will continue early next year. Share this article Bitcoin SV leader Craig Wright is involved in another court case concerning the early days of Bitcoin. According to court reports, this case involves a claim to $1 billion worth of Bitcoin. The Case In Brief The case…