Top Stories This Week
CME overtakes Binance to grab largest share of Bitcoin futures open interest
Bitcoin’s futures market is showing an interesting shift as global derivatives marketplace the Chicago Mercantile Exchange (CME) has surpassed Binance in terms of Bitcoin futures open interest. This change occurred after Bitcoin exceeded the $37,000 mark for the first time in over 18 months.
However, James Seyffart, a research analyst at Bloomberg Intelligence specializing in exchange-traded funds, questioned whether the increasing open interest in Bitcoin futures on CME would address historical concerns of the United States Securities and Exchange Commission regarding the depth of Bitcoin markets and the potential for market manipulation.
“Okay this is interesting… Does this constitute a ‘market of significant size’ now?” Seyffart stated in a post on X (formerly Twitter).
Cryptoqueen’s OneCoin legal chief pleads guilty to fraud
The former head of legal and compliance at OneCoin is looking at a potential 10-year prison term for her involvement in the $4 billion cryptocurrency trading scheme. In Manhattan federal court, the ex-compliance chief of OneCoin, Irinia Dilkinska, pleaded guilty to charges of wire fraud and money laundering.
According to a statement from the U.S. Department of Justice, U.S. District Judge Edgardo Ramos accepted Dilkinska’s guilty plea. She admitted to one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering. Each charge carries a maximum sentence of five years in prison.
Dilkinska is scheduled for sentencing on February 14, 2024, facing a potential maximum sentence of 10 years in prison for her role in the OneCoin scheme.
Genesis seeks court’s approval to reduce Three Arrows Capital claim from $1B to $33M
Bankrupt cryptocurrency lender Genesis has asked the court to approve its proposed settlement agreement with the collapsed crypto hedge fund Three Arrows Capital (3AC).
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