CME Becomes Biggest Bitcoin Futures Market
The Chicago Mercantile Exchange (CME) has now taken the top spot in terms of Bitcoin futures open interest, surpassing Binance. The rise in open interest comes after Bitcoin surpassed the $37,000 mark for the first time in over 18 months. James Seyffart, a research analyst at Bloomberg Intelligence, pointed out a potential concern from the United States Securities and Exchange Commission regarding market manipulation, questioning if this constitutes a “market of significant size.”
Cryptoqueen’s OneCoin Chief Pleads Guilty
The former head of legal and compliance at OneCoin, Irinia Dilkinska, has pleaded guilty to charges of wire fraud and money laundering as part of her involvement in the $4 billion cryptocurrency trading scheme. She could face a potential maximum sentence of 10 years in prison.
Genesis Seeks Court’s Approval to Reduce Three Arrows Capital Claim
Bankrupt cryptocurrency lender Genesis has proposed a settlement agreement with the collapsed crypto hedge fund Three Arrows Capital, seeking to reduce their claim from $1 billion to $33 million.
SafeMoon CEO’s Bail Release Delayed
U.S. federal prosecutors have delayed the bail release of SafeMoon CEO Braden John Karony, citing concerns that he may try to leave the country due to his alleged access to funds and connections abroad.
Binance to Terminate Russian Ruble Deposits
Binance will stop accepting deposits in Russian rubles from November 15, 2023, and plans to completely exit the Russian market by January 31, 2024.
Winners and Losers
At the end of the week, Bitcoin is at $37,249, Ether at $2,078, and XRP at $0.67. The top altcoin gainers of the week were FTX Token, Kaspa, and Cronos, while the top altcoin losers were Maker, Tether Gold, and PAX Gold.
Prediction of the Week
Analysts predict that Bitcoin may next be a “sell” at $110,000 as its new bull cycle plays out, hinting at a potential all-time high.
Taiwanese prosecutors are seeking to detain individuals from JPEX cryptocurrency exchange over allegations of fraud. The situation is unfolding as new suspects are identified.
Australian cryptocurrency exchange CoinSpot reportedly suffered a $2 million hot wallet hack, likely due to a “private key compromise.”
For more information on crypto prices, refer to CoinMarketCap’s market analysis.
❗Follow us on Twitter to get all the latest crypto news as soon as they're out! 🚀