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Bybit, one of the world’s leading cryptocurrency exchanges, warns about a possible supply shock for Bitcoin (BTC). The alert comes amid high expectations for the Bitcoin halving and a record diminishing BTC supply on exchanges. On April 15, Bybit published a report making bold claims regarding Bitcoin’s available supply in the cryptocurrency market. According to the company’s research team, the 2 million BTC standing in exchange reserves will only last for nine more months . Bitcoin exchange reserves. Source: CryptoQuant/Bybit For that outcome, Bybit assumes a daily inflow of $500 million to Bitcoin Spot ETFs. This would hypothetically result in a 7,142 BTC outflow from exchanges, ending within the 9-month suggested period. Picks for you Japanese Yen (JPY) struggles at a 34-year low against the U.S. Dollar 20 mins ago MANTRA’s incubation program launched at the Dubai World Trade Center 54 mins ago Nimiq Pay to transform the crypto payment l...

Bullish acquires CoinDesk, planning substantial investment in its global expansion, and appoints the former Chief Editor from the Wall Street Journal as Editorial Committee Chair. Bullish, a rapidly expanding regulated crypto exchange led by CEO Tom Farley, has acquired CoinDesk from Digital Currency Group. Tom Farley emphasized the strategic importance of this acquisition, noting CoinDesk’s critical role in shaping the global crypto and blockchain ecosystem through its esteemed editorial coverage, leading events, and market-influencing data and indices.  Bullish has acquired @CoinDesk, which will operate as an independent subsidiary and retain editorial independence. Bullish will immediately inject capital into several of CoinDesk’s most exciting growth initiatives which will power the launch of new services, events and products.… pic.twitter.com/vGIUXI9Jy3 — Bullish (@Bullish) November 20, 2023 Farley announced Bullish’s commitment to significantly inves...

The regulated derivatives marketplace Chicago Mercantile Exchange has surpassed Binance to become the leading Bitcoin (BTC) futures exchange. The shift marks the first time in two years that CME has claimed the top spot, indicating a surge in demand from institutional traders. CME currently holds the top position among futures and perpetual futures exchanges, per CoinGlass data, with an open interest (OI) of around $3.99 billion and a notable 24.32% of the market share. Meanwhile, Binance’s OI has decreased to $3.77 billion, down by 13% over the same timeframe. Notional open interest is defined as the U.S. dollar value tied to the number of active or open contracts. You might also like: SEC’s window for Bitcoin ETF approvals to open today CME is known for trading in traditional futures contracts with specific expiry dates, unlike Binance and other exchanges, which offer standard futures and perpetual contracts without expiry. CME offers standard Bitcoin futures co...

In the realm of crafting content, there are three pivotal elements to consider: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, burstiness assesses the variability in sentence structures, and predictability measures how likely it is for someone to anticipate the subsequent sentence. When humans compose content, they tend to inject it with burstiness by interweaving longer, intricate sentences with shorter ones. In contrast, AI-generated content often lacks this ebb and flow, appearing more uniform. For the content that follows, which I am requesting you to create, it is imperative that it exhibits a substantial degree of perplexity and burstiness while keeping predictability to a minimum. Additionally, please ensure that the content is presented exclusively in the English language. Now, let’s transform the given text: The movement of assets away from cryptocurrency exchanges is perceived as a bull...

Kraken is set to acquire the Netherlands-based cryptocurrency platform as part of its European expansion plans. United States-based exchange Kraken has announced a pending deal to acquire Netherlands-based cryptocurrency exchange Coin Meester B.V. (BCM) as it sets its sights on European expansion . While financial details of the deal have not been disclosed, Kraken and BCM announced the coming acquisition following the European Union’s implementation of its Markets in Crypto-Assets (MiCA) regulatory framework. The announcement from Kraken highlights its plans to grow its business across Europe, having acquire d virtual asset service provider (VASP) licenses to operate in Ireland, Italy and Spain. A statement from Kraken CEO David Ripley highlighted the strength of the Netherlands economy, the high level of cryptocurrency adoption and a culture of innovation as driving reasons for looking to establish a base of operations in the country. “The acquisition of BCM will give Kraken a si...

Binance CEO Changpeng Zhao sought to dismiss concerns around executive departures, claiming they are moving into bigger roles outside Binance, and said reports are market FUD. The world’s leading crypto exchange by trading volume, Binance, has seen the departure of 10 key executives from various departments in the first nine months of 2023. While executive departures from a company are the norm based on their preset contractual obligations, the number of executives leaving Binance amid growing regulatory troubles has been a key talking point in the crypto community. The latest to join the list is Helen Hai, executive vice president of Binance, who announced her resignation from her post on Sept. 6. On the same day, Gleb Kostarev, vice president of Eastern Europe, Turkey, the Commonwealth of Independent States (CIS), Australia and New Zealand at Binance, also announced his resignation, as did Russia and CIS general manager Vladimir Smerkis. The list of key executives to leave Binance ...