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CME lets traders bet on bitcoin volatility, not price, and two firms have already placed bets

CME’s bitcoin BTC$62,945.93 volatility index futures began trading last week, offering investors a new way to trade and hedge price volatility. DV Chain and Monarq Asset Management executed the first block trades and started trading the contracts. These volatility contracts track the CME CF Bitcoin Volatility Index (BVX), which represents the market’s expectations for bitcoin […]

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Bitcoin’s rebound triggers the most short liquidations since late April

Bitcoin’s recovery from last week’s lows has crushed traders who bet against it. Short sellers, who profit when prices fall, lost $504 million in the 24 hours to Monday morning, the most in a single day since late April, according to CoinGlass. Bets on rising prices lost just $151 million by comparison. Total liquidations across

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Bitcoin falls back below $63,000 as Iran-Israel trade strikes and Korean stocks plunge

Bitcoin BTC$62,771.65 pulled back from Sunday’s highs as renewed military conflict between Iran and Israel sent Asian shares, including South Korea’s Kospi index, sharply lower. The leading cryptocurrency by market capitalization was trading at around $62,900 at 4:00 UTC, after hitting a high of $63,776 late Sunday, according to data source CoinDesk. WTI crude futures

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A quick review of ways and means tax bills: State of Crypto

The House Ways and Means Committee circulated seven draft bills ahead of this week’s hearing on crypto tax policy, signaling what the industry can expect. You’re reading State of Crypto, a CoinDesk newsletter that looks at the intersection of cryptocurrency and government. Click here to sign up for future editions. The narrative The House Ways

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‘Scary Movie’ returns politically incorrect humor to the top of the box office

About a decade ago, Hollywood decided that crude, politically incorrect humor was a commercial and cultural duty. The #MeToo and #BlackLivesMatter movements took off, and studio executives (largely liberal and intensely risk-averse) stopped supporting crime comedies like “Ted” and “Tropic Thunder.” Why invite a Twitter firestorm? That period of timidity — some would call it

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