Core Viewpoint - Coinbase Markets is set to launch 24/7 futures trading for various altcoins, responding to increasing demand for continuous access to crypto derivatives [1] Group 1: Expansion of Trading Hours - Starting December 5, futures for altcoins including Avalanche (AVAX), Bitcoin Cash (BCH), Cardano (ADA), and others will be available for trading around the clock [1] - This expansion builds on existing always-on markets for Bitcoin, Ethereum, Solana, and XRP, which include both standard and nano-sized contracts [2] Group 2: Introduction of New Futures Contracts - Coinbase is working on introducing U.S. perpetual-style futures for the same basket of altcoins, which will settle on a five-year expiry rather than the indefinite format used offshore [2][3] - The exchange previously launched 24/7 BTC and ETH futures in May and long-dated futures in July, establishing itself as a compliant venue for these products in the U.S. [3] Group 3: Market Dynamics - Most liquidity for non-BTC/ETH futures currently resides offshore, particularly on platforms like Binance and Bybit [4] - A U.S. alternative with deeper institutional access and clearer regulations may gradually attract order flow, especially amid volatile funding markets and ongoing regulatory pressures [4]

Coinbase Global Inc. (NASDAQ:COIN) is one of the best cryptocurrency stocks to buy for the long term. On November 20, Erste Group cut its rating on Coinbase Global Inc. (NASDAQ:COIN) from Buy to Hold, arguing that the growing popularity of low-fee Bitcoin ETFs could chip away at one of the company’s most important revenue sources. The firm warned that as more retail investors opt for ETF exposure rather than buying crypto directly, Coinbase risks losing a meaningful share of its higher-margin retail tradin ...

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Core Insights - The sharp decline in Bitcoin's value over the past month is attributed to investors deleveraging their cryptocurrency holdings and exhibiting risk aversion [1] Group 1 - Binance's Chief Executive Richard Teng provided insights on the market dynamics affecting Bitcoin [1]

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Core Insights - Bullish reported a net income of $18.5 million for Q3, marking a return to profitability from a loss in the previous year, driven by the expansion into US spot trading and crypto options [1] - The company generated $76.5 million in adjusted revenue for the period ending September 30, compared to $44.6 million in Q3 2024 [1] - Adjusted EBITDA increased to $28.6 million from $7.7 million in the prior-year period [1] Spot Trading and Options Volumes - Bullish launched its crypto options offering with 14 trading partners, achieving over $1 billion in volume within the quarter [2] - The company began spot trading operations in the US in September, following regulatory approval from the New York State Department of Financial Services [2] - Spot trading volume in Q4 has risen 77% compared to the Q3 average [3] Investor Sentiment - The earnings report coincided with significant accumulation by major investors, including Ark Invest, which purchased nearly $10 million worth of Bullish shares shortly before the earnings release [4] - Ark Invest has increased its position in Bullish, accumulating approximately $172 million in shares since the company's public listing in August [4] Diversified Revenue Streams - Bullish reported growth in its non-transactional businesses, with the Subscription, Services, and Other (SS&O) segment generating record revenue, more than doubling in Q3 compared to Q2 [5] - The company projects SS&O revenue between $47 million and $53 million for Q4 2025, with adjusted operating expenses expected to range from $48 million to $50 million for the same period [5] Financial Position - Bullish ended the quarter with $3.48 billion in net liquid assets, excluding customer funds and borrowings [6]

Kraken. Photo by BeInCrypto Kraken closed an $800 million funding round on Tuesday with a $200 million investment from Citadel Securities, valuing the crypto exchange at $20 billion. This marks one of crypto’s largest capital raises and underscores tightening links between digital asset platforms and traditional finance leaders. This substantial funding fuels Kraken’s expansion and product growth across trading, payments, and tokenized assets, showcasing Wall Street's increased trust in regulated crypto i ...

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Core Insights - Crypto traders are accumulating stablecoins in anticipation of favorable market conditions, with Binance's reserves reaching an all-time high of $73.9 billion on November 13, indicating a significant buildup of capital on centralized exchanges [1][3][7] Group 1: Market Conditions - The crypto market has experienced sustained losses, leading to a notable increase in centralized exchange (CEX) stablecoin reserves as traders pivot from cryptocurrencies to dollar-based assets [1][3] - The total value of ERC-20 stablecoins held on exchanges rose from approximately $63 billion at the end of September to $73.9 billion by mid-November, reflecting a continuous accumulation trend [3] Group 2: Trading Sentiment - Analysts are monitoring the 30-day change in ERC-20 stablecoin reserves on Binance, which peaked at nearly $9 billion on November 5, suggesting a strong accumulation of Ethereum-based USDT by users [5][6] - The increase in Binance's stablecoin reserves is seen as a potential indicator of upcoming market movements, with analysts noting that such spikes have historically preceded significant trading activity [6]

Core Insights - Mt. Gox transferred 10,608 BTC valued at approximately $953 million on November 18, marking the first significant movement from the exchange since March 2025 [1][2] - The transfer occurred shortly after the announcement of an extended repayment timeline for creditors, raising questions about its purpose [3][4] Transfer Details - The transaction was divided into two parts: 10,422.64 BTC moved to an unmarked address, and 185.52 BTC was sent to a Mt. Gox hot wallet before being routed to a wallet associated with Kraken [1][2] - The receiving wallet for the 10,422 BTC is still holding the assets, indicating no immediate sale has occurred [2] Repayment Timeline - The repayment deadline for creditors has been extended to October 31, 2026, due to incomplete creditor procedures [3] - Many creditors have not yet received repayments because of unfinished paperwork [3] Current Holdings and Historical Context - Mt. Gox currently holds approximately 34,689 BTC valued at $3.14 billion, down from an original 142,000 BTC [5] - The exchange collapsed in 2014 after losing around 850,000 BTC in a security breach, and it once handled over 70% of global Bitcoin trades [5] Creditor Payments - Over 19,500 creditors have received Bitcoin and Bitcoin Cash payments through March 2025 [6] - Since repayments began in July 2024, approximately 107,311 BTC have been distributed to creditors [5] Market Response - Analysts suggest the recent transfer may be routine wallet reshuffling rather than preparation for sales, especially in light of the repayment delay [7] - Transfers to exchanges by large Bitcoin holders can indicate potential selling activity, but do not guarantee immediate sales [7]