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An American financial market company operating an options and futures exchange.

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2018 Was Bittersweet for Bitcoin: Focus on JP Morgan's View of BTC Futures on CBOE and CME

Bitcoin has not been able to come out of the bear trend the entire year. Bitcoin futures have been a great addition to the crypt market since their introduction by CME in 2017. ​​​​​​This year has been the year of correction in in the cryptocurrency industry. It is true to say that it has been both bitter and sweet. We saw Bitcoin spiral losing ground massively from its all-time high traded in December 2017. In spite of the declines, there has been tremendous development in terms of technology and new products. The market has battled to come out of the speculation and focus on core of the industry; development and mass adoption. The unfortunate thing is that Bitcoin has not been able to come out ...Full story available on

Bitcoin and Top Crypto Assets See Price Surge as CME BTC Futures Set to Expire Today

Right before Christmas, Bitcoin (BTC) and some of the other top tokens in the market have risen in value. When Christmas Eve started, Bitcoin’s price was below the $4,000 USD mark, but it was above $4,250 USD when Christmas finally arrived. This so-called Santa Rally is famous in the traditional stock markets because a lot of professional traders and fund managers wind down on their operations because they are set to take some days off at the end of the year, so retail investors generally get bullish around the time and prices go up. It is also said that New Year optimism also has an effect at this. However, the Santa Rally did not really last at all. Bitcoin dropped on Christmas day and basically reverted to its old value. There is something even worse happening, though, the CME Bitcoin futures are abou to expire and this will negatively affect the market. The End of The Futures Contracts It is being widely debated whether the contracts that are ending today are really going to let any lasting effect in the market. In some recent months, they did not affect it so much, but in November they affected it a little bit more. Despite the end of the contracts, cryptos are in the red anyway. Bitcoin is down 3.5% in the last 24 hours and XRP has fallen 4.5%. Bitcoin Cash is the greatest loser of the today today with 10.47% down from this timeframe. The Santa Rally did not really happen and now the prospects for the end of the year are not great. Bitcoin may (and probably will) make a comeback in 2019, but nobody is sure that this comeback will actually be done soon. In fact, it is more likely that the prices will still continue to drop for some time instead of going up anytime soon, unfortunately.
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BTC and Other Cryptos in the Red as CME Bitcoin Futures Expire Today, December 28th

On Christmas Eve this year, Bitcoin (BTC) surprised many as its value rose by $200 in a few hours from around $3,990 to $4,271. Many crypto enthusiasts were quick to label the rise in value as a Crypto Santa Clause Rally. This type of rally is seen in the traditional stock markets when the value of tradable assets rises significantly in the last week of December. The rally can be attributed to professional traders and fund managers winding down on their trading operations as they prepare to take a few days off for Christmas and New Years. This then leaves the markets wide open for retail investors who are generally bullish, to cause a significant jump in value of the tradable assets. Another reason for such rallies could be the general optimism surrounding the holiday season as well as the prospects of a New Year. The Crypto Santa Claus Rally Did Not Last Traditionally, Santa Claus rallies kick off before Christmas and end a few days after New Years. In the case of Bitcoin and the crypto markets, BTC would drop by $500 on Christmas day to close at around $3,770. The King of Crypto is currently valued at $3,667 as we enter the last weekend of 2018. Could The Drop Be the Effect of Expiring CME Bitcoin Futures? For the last few months since July this year, expiring CME Bitcoin futures have had little to no effect on the value of the crypto markets. When they last expired on Friday the 30th of November, BTC remained steady at $4,000 only to briefly test $4,280 on Sunday the 2nd of December. The King of Crypto would then continue to fall to recent lows of $3,190 on the 15th of December. (Perhaps we could see a similar pattern this month?) Analyzing the month of December, the CME Futures expire today, the 28th. If the past is to go by, the value of Bitcoin should not be affected by the expiring contracts. BTC and Other Cryptos in the Red Checking once again, we find that BTC is down 3.45% in the last 24 hours. XRP is also experiencing a similar decline of 4.5% in the last day. The hardest hit of the top 10 cryptocurrencies in Bitcoin Cash (BCH) that is down 10.47% in the same time period. A screenshot has been provided below for a better visualization. Top 10 Cryptos in the red. Source, In conclusion, the slight jump experienced in the crypto markets right before Christmas had led many to believe we were about to experience a Santa Claus rally. Conversely, the value of BTC has since declined with all other cryptocurrencies still in the red as we wind down December. One is tempted to conclude that the decline is the effect of expiring CME Bitcoin futures but their influence over the crypto markets have shown to dwindle with time. With the New Year a few days away, one can remain optimistic that 2019 might bring better fortunes for the crypto markets. What are your thoughts on the recent decline experienced in the crypto markets? Will 2019 bring with it new tidings? Please let us know in the comment section below.  Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you. The post BTC and Other Cryptos in the Red as CME Bitcoin Futures Expire Today, December 28th appeared first on Ethereum World News.
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Next CME Bitcoin Futures Settle on December 28: Upcoming Price Action?

Next week will see another round of Bitcoin futures expire and settle on the Chicago Mercantile Exchange (CME). Even though the CME Bitcoin futures are cash-settled, they could impact Bitcoin’s actual spot price. CME Futures Expiration and Their Effect On Bitcoin CME’s next round of six-month Bitcoin futures ends on December 28, 2018, with settlement on January 3, 2019. These futures contracts started trading back on July 2 of this year. Source:   According to data CryptoPotato had received from CME Group, a previous round of six-month Bitcoin futures contracts started on January 2, 2018, and ended on June 29. The chart below shows slight price action for Bitcoin, correlating with the June 29 expiration date. However, such effect could very well be attributed to other crypto market factors. Image from   Another round of six-month CME Bitcoin futures ran from April until the end of September. But the charts showed little action coinciding with their expiration in September. Bitcoin is currently priced at a significantly lower level than when the current six-month contracts began. Bitcoin’s price fluctuated around the mid $6,000 range back on July 2. As of the time of this writing, Bitcoin is valued around $4,000. Cause and Effect The CME and Chicago Board Options Exchange (CBOE) Bitcoin futures are cash-settled, unlike exchanges such as Bitmex, meaning no spot Bitcoin is moved, bought, or sold in the process. However, these mainstream futures contracts seem to be a hot topic in the crypto space, even though Bitcoin’s price is not directly impacted with each futures position taken. CME and CBOE futures’ impact on Bitcoin’s spot price could be a self-fulfilling prophecy. Speculators in the crypto space may think these CME or CBOE Bitcoin futures expirations and settlements will move the market one way or the other. They might then make trading decisions based on those speculations, buying or selling spot Bitcoin. If enough people engage in such speculation, it would likely move Bitcoin’s spot price. Another possibility could see traders hedging their CME or CBOE futures positions, buying spot Bitcoin while shorting Bitcoin futures on the CME or CBOE for example. Only time will tell if December 28, 2018, or January 3, 2019, will have any impact on Bitcoin’s spot price. The post Next CME Bitcoin Futures Settle on December 28: Upcoming Price Action? appeared first on CryptoPotato.
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Why Do We Need to Wrap Bitcoin?

BitGo, Kyber Network, MakerDAO, IDEX and many other crypto companies partnered to create a Bitcoin-backed Ethereum token, Wrapped Bitcoin. This token will represent BTC, 1 token equal to 1 BTC stored in the custody of BitGo. It could be used to trade BTC on DEXes, the whole administration will be via DAO, similar to Maker system

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Today’s cryptocurrency market is young and volatile. Cryptocurrencies have no backing, as such their value is not attached to a physical asset in fact. Their prices are, by and large, speculative meaning they are highly dependable on news and people talking about them. In an effort to bring stability to the market, CBOE and CME, world’s largest derivatives exchanges, decided to introduce Bitcoin futures.

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BAT Outperforms Bitcoin, XRP On New Brave Browser “Rewards” Feature

Brave Browser Announces BAT “Rewards” Feature On Tuesday, Brave Browser, a crypto-friendly internet application headed by the founder of Mozilla Firefox, Brendan Eich, made a surprising announcement, seemingly aiming to start of 2019 with a proverbial bang. Via a company release, conveyed through its in-house blog, the Brave and Basic Attention Token (BAT) team, which consists of Eich, coupled with an array of fintech, Silicon Valley, and crypto veterans, revealed that it would be previewing “opt-in ads in [the] desktop browser developer channel.” While this feature sounds nebulous, there’s more to this integration than meets the eye. In fact, as broken down in a PC Magazine feature article, this new advertising model will allow common Joes and Jills to earn crypto, in the form of BAT, and potentially other rewards in the feature. This new offering, dubbed Brave Rewards, will siphon 70% of earned ad revenue to users who agree to view advertisements. The remaining 30% will be paid to Brave’s war chest — a likely controversial play, but one necessary for the blockchain project’s long-term survival. Rewards will be available via Brave’s developer/test browser edition. It wasn’t exactly divulged when the innovative feature would hit the publics’ desktops, but the following GIF is how the feature will work: Looking outwards, the Brave team revealed that they expect opted-in users to earn upwards of $60 to $70 a year in the near future, with their preliminary projections predicting that $224 a year could be earned by 2020 through Brave’s in-house ecosystem. While this sounds great — an effective free $224/year for viewing ads — like all things too good to be true, there’s a catch. At the time of writing, Brave has announced support for BAT token withdrawal, as the company wants Rewards’ users to reward their favorite content creators, whether it be large new portals or Youtubers. After this feature goes live successfully, Brave intends to activate “publisher-integrated ads,” which will allow content creators to feature “private ads” on content creators’ pages through the startup’s systems. The company subsequently explained its Brave Ads offering and its applications/benefits from a top-down perspective, writing: With Brave Ads, we are reforming an online advertising system which has become invasive and unusable. Users have turned to ad blockers to reclaim their privacy from ads that track them and sometimes even infect them, and publishers are finding it increasingly difficult to earn ad revenue to sustain quality content with intermediaries that collect huge fees. It is important to reiterate that at this time, this newfangled feature is technically in its beta phase. Due to this positive news, the popular altcoin, which recently gained the support of industry powerhouse Coinbase, has posted a respectable price gain. At the time of writing, BAT is currently valued at $0.125 apiece, posting a 3% in the past 24 hours. The crypto, currently the 36th in this market’s standings, is currently outperforming Bitcoin (BTC) by 2.7%, and Ethereum (ETH) by 2.4%. Crypto Lulls: Bitcoin, Ethereum, XRP Post Barely Any Movement In the same vein of cryptocurrency prices, the broader market has posted close-to-zero movement in the past 24 hours. Per data from Coin Price Watch, BTC has found itself at $3,645 — a mere 0.58% gain over the past day. Other leading crypto assets have also posted slight gains, but have still underperformed BAT. XRP, the go-to asset for fintech upstart Ripple, is up 1.27%, as it sits just shy of the $0.33 price level at $0.3296. ETH, which recently tumbled due to the delayed Constantinople fork, has found itself up by 2%, regaining a portion of the losses incurred yesterday. While the market is trending slightly positive, some analysts expect that BTC is ready to dive. Speaking to MarketWatch, Jani Ziedens of Cracked Market claimed that BTC, if truly oversold, should be posting monumental gains right now, rather than finding itself in an extended lull. So, Ziedens added that this “lethargic base” indicates that demand is limited, “incredibly weak” even, and as such, lower crypto bottoms may be inbound. BAT Title Image Courtesy of via Flickr The post BAT Outperforms Bitcoin, XRP On New Brave Browser “Rewards” Feature appeared first on Ethereum World News.
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Cryptopia Hacker Moves Stolen Crypto to Binance; Community Alerts CZ and Funds Are Frozen

It is clear that hackers gave themselves a place to stay in the cryptocurrency industry, which was only made more evident by a recent security breach that happened over the last few days. Cryptopia, a leading exchange in New Zealand, announced a breach that ended in a major theft on January 14th. However, unlike the unfortunate tale that many other exchanges succumb to, that is not the end of the story. The official statement notes that Cryptopia has placed itself into a maintenance mode, helping them to protect their accounts until the regulatory authorities of New Zealand provide other details. Both the High Tech Crimes Unit and the local police are pursuing investigative efforts, though they have commented that “a significant value of cryptocurrency may be involved.” At this point, the actual amount has not been released, and no substantial details have been provided. Still, that has not stopped local news portal Radionz from reporting that the loss is close to $3.6 million. A Twitter user, ShaftedTangu, seems to know where these digital assets are going. On the posts, the user said, Hey @cz_binance Binance has stolen tokens from Topia hitting it sir. Can you lock it down? — I Dream Of Alts (@ShaftedTangu) January 16, 2019 Through a string of additional tweets, the user continued to track the funds, as he mentioned wallet address 0x9007a0421145b06a0345d55a8c0f0327f62a2224. In another tweet, he claimed, “Currently the 0x900 wallet contains around $10 mil USD of tokens, large amounts are $PRL $2mil, $CENNZ $1.168 mil, $Denacoin $2.73 mil, $MSP $0.99 mil” Luckily, just under four hours after the original tweet, CZ Binance replied. The reply said, Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. — CZ Binance (@cz_binance) January 16, 2019 With such a nonchalant type of reply, it is quite a victory for Cryptopia and Binance that the funds could be frozen at all. However, the victory has not been won yet, considering there is no indication of exactly who performed the hack in the first place. Cryptopia has remained silent, though they posted to their own Twitter profile, saying, “We cannot comment as this matter is now in the hands of the appropriate authorities. We will update you as soon as we can.” As a result of these issues, Zhao posted that users should keep their holdings on exchanges, rather than a hardware wallet. However, his post caused an onslaught of negative replies, with some saying that his post implied that self-storage is substantially riskier than storing on a seemingly “reputable” exchange. Zhao later retracted, saying that he was not advising investors to store funds on exchanges. In the first half of 2018 last year, there was over $731 million lost in thefts involving exchange hacks. However, none have reached the severity experienced by the 2014 Mt. Gox hack.
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Binance Freezes ‘Some of the Funds’ Stolen in Cryptopia Hack

Some of the stolen cryptocurrency from yesterday’s Cryptopia hack has been sent to Binance, which has confirmed already freezing some of the funds.  Binance Freezing Funds Stolen from Cryptopia Twitter account @ShaftedTangu has alleged that some funds stolen as a result of Cryptopia’s hack have been siphoned through Binance. The amounts sent to Binance in question include roughly $7,500 in Metal (MTL) 00, $6,750 in KyberNetwork coin (KNC) 00, $7,181 OmiseGO tokens (OMG) 00, and $8,724 in EnjinCoin (ENJ) 00. All of it totals around $30,000. Changpeng Zhao, CEO at Binance – the world’s largest cryptocurrency exchange by means of traded volumes, has confirmed the allegations, reassuring that they’ve already frozen some of the funds. Zhao commented: Just checked, we were able to freeze some of the funds. I don’t understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It’s a high-risk maneuver for them. Just checked, we were able to freeze some of the funds. I don't understand why the hackers keep sending to Binance. Social media will be pretty fast to report it, and we will freeze it. It's a high risk maneuver for them. — CZ Binance (@cz_binance) January 16, 2019 Bitcoinist reported yesterday that Cryptopia’s security has been breached, resulting in ‘significant losses’. Police in New Zealand also confirmed. Binance Caught in the Fire Zhao’s tweet caused a reaction in crypto Twitter’s community as one user (@Crypto_Bitlord) expressed his bewilderment that Zhao referred to “social media” as a means of reporting rather than Binance’s own surveillance systems. I’m genuinely shocked stolen funds from @Cryptopia_NZ have easily passed through @binance UNDETECTED until social media flagged them. This raises some big questions. How is that possible with modern blockchain analysis? — Sir Bitlord (@Crypto_Bitlord) January 16, 2019 On the matter, Binance’s CEO said: It’s quite easy to generate a brand new address. We (and no one) recognize every transaction out there. We already have very in-depth and detailed blockchain analysis. Yet, the question remains – if a regular Twitter user has been able to detect the transaction in question, how, and more importantly – why did Binance miss it? Perhaps the better question, as posed by @Crypto_Bitlord is: So you are saying criminals can steal funds and just create a brand new address to send to before binance? In the meantime, Binance announced today the launch of their Binance Jersey fiat exchange. The platform is aimed at traders from Europe and it offers BTC/GBP, ETH/GBP, BTC/EUR, and ETH/EUR trading pairs. What do you think of Binance missing the transactions in question? Don’t hesitate to let us know in the comments below! Images courtesy of Shutterstock The post Binance Freezes ‘Some of the Funds’ Stolen in Cryptopia Hack appeared first on
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