Crypto News
Ether Sees Record Short Build up as Hedge Funds Pile on Basis Trade
Hedge funds have been aggressively shorting ether (ETH) during the recent uptick to $3,000 as they attempt to harvest a yield by carrying out a basis trade.Hedge funds are shorting ether to the tune of $1.73 billion on the CME, a venue favored by institutional traders, according to data from the Block, which cites the CFTC. CME data also shows that ether leveraged net totals have skewed heavily to the short side, according to X account zerohedge.A basis trade involves shorting an asset on one venue whilst simultaneously buying on another, remaining delta neutral in terms of price action. In this case, traders can secure around 9.5% per year by shorting ETH on the CME while buying spot ETFs, of...
Judge Tosses NFT Lawsuit Against Dolce & Gabbana USA
The group pleading and shared branding weren't enough to prove D&G USA controlled or misled in the NFT project, said the judge.Source link
Bank of England on a Collision Course With the US: Banks Should Not Issue Stablecoins
Andrew Bailey, Governor of the Bank of England, warned about the dangers of banks issuing stablecoins, stating that they would remove money from the banking system. His stance contrasts with that of the Trump administration, which views stablecoins as a tool to extend dollar hegemony. Bank of England Governor Warns About Banks Issuing Stablecoins StablecoinsSource link
Filecoin Surges 5%, Forms Distinct Uptrend
Filecoin (FIL) rose 3.74% to $2.64 in the past 24 hours, forming a distinct uptrend characterized by progressive higher lows, according to CoinDesk Research's technical analysis model.The rally produced lows at $2.54 and $2.55 that served as reliable support zones, while encountering initial resistance near $2.62-$2.63 before achieving a decisive breakthrough during Asian market hours.Theoriq AI is working with the Filecoin Foundation to develop AI agents trained on open data from the network, Filecoin said in a tweet on X yesterday.The rally in Filecoin came as the wider crypto market also rose, with the broader market gauge, the CoinDesk 20, recently up 4%.Technical Analysis:FIL ranged from $2.56 to $2.66 during the 24-hour session, achieving a robust 4.75% increase.The cryptocurrency...
Metaplanet CEO Quietly Helps Acquire Asian Firms to Push Bitcoin Agenda
South Korean regulators have approved a takeover of SGA Co. by investors tied to Metaplanet and Sora Ventures.Source link