- The crypto industry shows signs of heating up.
- Investors are making bullish bets and analysts expect more traditional finance players to muscle into the sector.
- This, Binance's mega-fine, what Javier Milei's win will mean for crypto, and much more in this week’s Roundup.
A version of this story appeared in our The Roundup newsletter. Sign up here.
Happy Friday.
Eric here with this week’s Roundup.
At the risk of sounding like a broken record, crypto shows more signs of heating up.
Investors may be positioning themselves for another Bitcoin rally, with data showing that of the $4 billion worth of Bitcoin options set to expire today, more than $2.2 billion are calls — bullish bets that the price will surge.
Large US investors have turned positive on crypto again. Over half of 150-plus investors surveyed by Coinbase said they expect prices to surge in 2024.
Even Binance agreeing to pay US authorities a massive $4.3 billion penalty for breaking sanctions and anti-money laundering laws has been welcomed as a positive.
A JPMorgan analyst told DL News they expect the settlement to accelerate the traditional finance land-grab that has already seen the likes of BlackRock and Fidelity muscle into the sector.
Have a great weekend!
Eric
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How Binance’s crimes augur new era of state-approved monitors and ‘suspicious activity reports’
As part of its $4.3 billion settlement and guilty plea with US officials, Binance, the world’s biggest cryptocurrency exchange, will have to pull back the curtain on its operations for an independent, government-approved monitor for the next five years.
Read the full story here.
Crypto supporters around the world rejoiced when libertarian economist Javier Milei won a shocking victory in Argentina’s presidential election on Sunday. But in the eyes of many young Argentinians, his monetary programme will barely make a dent in the fundamental weaknesses of the economy.
Read the full story here.
Two-day-old Blast draws $135m as investors seek yields and airdrops
New project Blast got off to a great start this week, with investors injecting over $135 million into the so-called layer 2 blockchain a mere 48 hours after its announcement.
Read the full story here.
