Dogecoin (DOGE) futures saw a 40% increase in a crucial statistic over the course of the last day, suggesting that traders are taking more risks. This metric has traditionally indicated local price peaks in cryptocurrency markets.The quantity of unfilled futures bets, or open interest, surged to above 7 billion DOGE tokens on Friday, surpassing records established in April.about current prices, these positions are valued about $600 million. With $275 million worth of futures holdings, Binance has over half of the bets, followed by Bybit with $134 million and OKX with $85 million.Given that the long-to-short ratio is 50% on both sides, it is possible that traders have hedged every wager.In general, rising open interest indicates a bullish inclination among futures traders.On the other hand, if it suddenly surges or grows excessively high, traders may be building short positions, which could be a negative warning of an impending change in market patterns.In comparison to the rest of the market, the rise in DOGE open interest is unusual.There was a 5% decline in futures that tracked popular tokens like ether (ETH) and bitcoin (BTC). The news of a space payload mission by Pittsburgh-based company Astrobotic to deliver a tangible dogecoin token to the moon in December caused DOGE values to soar by more than 12% on Thursday.Furthermore, some traders claim that abrupt increases in meme coins like DOGE are typically negative occurrences that signal increased risk-taking and the conclusion of a larger cryptocurrency rise.

The head of Mastercard’s blockchain and digital assets for Asia-Pacific told CNBC that since consumers are so at ease with modern money, there is no need for central bank digital currencies (CBDCs). “Adoption is the difficult part,” stated Ashok Venkateshwaran on Wednesday, outside of the FinTech festival in Singapore. “So if you have CBDCs in

On Friday, the International Organisation of Securities Commission released its eagerly anticipated recommendations for cryptocurrency regulation. The global standards-setting body for securities markets regulation, IOSCO, started taking comments on regulations for the cryptocurrency industry in May. These regulations covered topics like market manipulation, conflicts of interest, safeguarding client assets, disclosures, and potential hazards. According to

Both Near Protocol’s NEAR and Avalanche’s native token AVAX maintained their strong starts on Friday while the overall market pared its gains from earlier in the week, following the lead from stocks. As of press time, AVAX had gained 8.2% over the previous 24 hours, while NEAR was up 6%. In the meantime, ether has

In a space payload mission envisioned by Pittsburgh-based company Astrobotic, a physical Dogecoin (DOGE) token may make it to Earth’s moon, the Dogecoin developers announced in an X post on Thursday. “Astrobotic plans to send a physical Dogecoin to the moon in the DHL Moonbox via ULA’s Vulcan Centaur Rocket on 12/23/2023,” Dogecoin developers said. “Funded by our community in 2015.” NASA’s Commercial Lunar Payload Services (CLPS) program, together with 21 payloads (cargo) from businesses, governments, and universities are being transported by Astrobotic’s Peregrine Mission One (PM1). As part of a plan unveiled in May by cryptocurrency exchange BitMEX, the same mission is also intended to carry a real bitcoin token.Additionally, a copy of the Genesis Block—the first block of bitcoin (BTC) to be mined—will be included, as it was ordered by Bitcoin Magazine. The last attempt by Dogecoin to reach the moon was a 2022 plan for a SpaceX trip that would be fully financed using DOGE tokens.At the time of its commissioning, the Canadian business Geometric Energy Corp. claimed that the mission was the first commercial lunar payload in history to be fully funded by DOGE.The mission was delayed, nevertheless, and its new launch date is January 2024. In the meantime, DOGE prices have increased by 12% over the last day along with a more general rise in key

According to an email from the Virtual Assets Regulatory Authority (VARA), Matthew White, a partner at PwC, will take over as CEO of Dubai’s cryptocurrency regulator, replacing Henson Orser.Citing a statement from the agency, Bloomberg first announced the adjustment.Bloomberg reported, citing anonymous sources who asked not to be identified because the subject is confidential, that over 12 cryptocurrency companies would also be punished for failing to comply with standards by a deadline of Nov. 17.The report states that certain companies, including as Binance, OKX, and ByBit, will be granted additional time to comply, although the identities of the firms were not disclosed.VARA made no mention of the fines in its email. Orser has been in charge of the Virtual Assets Regulatory Authority since January.According to VARA, he will stay completely committed for a “planned transition” as a consultant. “It was a great experience and I’m fully vested in a consultative capacity to support VARA,” Orser said to Bloomberg. “I’m leaving to pursue other interests.”  White has led the PwC cybersecurity and digital trust team and served as a consultant for VARA in the past.Dubai has punished cryptocurrency bankruptcy claims exchange OPNX and its owners, who also founded the defunct hedge fund Three Arrows Capital (3AC), in recent weeks. Additionally, regulatory permissions have been given to Crypto.com, Komainu, a cryptocurrency custody service funded by Nomura, and Hex Trust, another custody firm.

Legislators from both parties in the United States have asked the Treasury to amend the plan for taxes on digital assets. The group supports attorneys and representatives of the cryptocurrency industry who have referred to the proposed tax plan as “dangerous and improper overreach.” Congressman Ritchie Torres (D-N.Y.) and House Financial Services Committee Chairman Patrick

Commerzbank AG declared on Wednesday that it has acquired a crypto custody license in Germany.According to the release, “with particular emphasis on crypto assets,” the license would enable the worldwide bank with its headquarters located in Frankfurt to provide a wide range of digital asset services. It has proven to be a difficult task for businesses wishing to provide related services to obtain a crypto license from Germany’s conservative financial markets regulator BaFin. As the first full-service bank in Germany to receive the license, Commerzbank intends to establish a safe custody platform for digital assets. “Now that we have been granted the license, we have achieved an important milestone. This highlights our ongoing commitment to applying the latest technologies and innovations, and it forms the foundation for supporting our customers in the areas of digital assets,” Dr. Jörg Oliveri del Castillo-Schulz, chief operating officer of Commerzbank said

President Nayib Bukele of El Salvador unveiled a dollar cost averaging (DCA) strategy at the national level in November 2022, pledging to purchase one bitcoin daily.According to Bukele’s public declarations at the time, the nation already had 2,381 bitcoins, which had been bought at an average cost of about $44,300.At that time, the price was just $19,000, meaning the nation had lost around $60 million on its investment. Since then, Bukele has remained largely silent over El Salvador’s bitcoin purchases, and the precise quantity of bitcoin held by the nation is unknown because no official government record exists. According to CoinDesk, El Salvador purchased 2,744 bitcoin as of November 14 if the nation did, in fact, buy one bitcoin every day for the previous year.On the basis of the average price of Bitcoin on each of those days, the average purchase price throughout the nation would have decreased to about $41,800.Assuming that the price of bitcoin is $36,000 right now, El Salvador would have lost almost $16 million on its bitcoin holdings.The International Monetary Fund (IMF) has frequently issued warnings about rising threats to the nation’s economic growth and ability to repay its debt since Bukele attempted to make bitcoin legal cash.Even with the slight paper losses on the country’s bitcoin holdings, things now seem to be on a good note. As of mid-August, El Salvador’s bonds had returned 70% year to date, and some well-known banks were advising that further gains were likely.Earlier this month, S&P Global raised the nation’s debt from CCC+ to B-.According to polls, Bukele has a commanding advantage in the race for reelection in 2024, having just declared his desire to run. There are still unanswered issues about whether the public is hurrying to adopt a bitcoin standard.Given how much the economy depends on payments from abroad, remittances would be one place to look.Only 1.2% of the $7 billion in overseas remittances in 2022, according to central bank data, were made using bitcoin wallets.

Recently, Standard Chartered’s fintech investment and venture arm, SC Ventures, unveiled Libeara, a new tokenization platform. According to the announcement, the platform will make it possible for accredited investors to create a tokenized Singapore dollar government bond fund. Additionally, Libeara has teamed up with FundBridge Capital, a Singaporean association for fund managers. “By partnering with

Tokenization use cases are being tested by the central bank of Singapore in collaboration with leading financial services companies such as JPMorgan (JPM), DBS (D05), and BNY Mellon (BK). The Monetary Authority of Singapore (MAS) announced on Wednesday that the tests will look at fund management, automated portfolio rebalancing, multicurrency clearing and settlement, foreign currency

Hex Trust, an institutional-grade cryptocurrency custodian, announced on Wednesday that it has received a full operating licence from the Virtual Assets Regulatory Authority (VARA) in Dubai. The operating licence is the last permission granted to crypto service providers under VARA’s regulatory framework, which went into force earlier this year. After passing the last stage of

The Hitchin and Harpenden member of parliament, Bim Afolami, was named economic secretary to the U.K. Treasury on Monday. In this capacity, he will oversee policy related to cryptocurrency and central bank digital currency (CBDC). Andrew Griffith, who had expressed a desire for the nation to serve as a centre for cryptocurrency even after FTX

The cryptocurrency exchange Crypto.com said on Tuesday that it has been granted a license to conduct specific virtual asset service operations in Dubai. The licence has been given to its Dubai-based company, CRO DAX Middle East FZE, which in March was given preliminary approval by Dubai’s Virtual Assets Regulatory Authority (VARA) for a minimal viable

In an updated guidance, Australia’s tax authority clarified that it believes wrapped tokens or token interaction with decentralised (DeFi) lending protocols fall under the purview of its capital gains tax on crypto products. Investors in cryptocurrencies were alerted by the Australian Taxation Office (ATO) last year that capital gains and losses on sales of digital

Following CFTC approval of the products in June, Cboe Digital, the cryptocurrency division of the Chicago Board of Options Exchange, said that it will begin listing margined bitcoin (BTC) and ether (ETH) futures on January 11.According to a press release, it will make history as the first clearinghouse and regulated exchange in the United States to offer both spot and leveraged derivatives trading on the same platform.Regular futures do not let traders to take positions larger than their collateral; however, leveraged futures do. Among the trading companies supporting the new offering are B2C2, BlockFills, CQG, Cumberland DRW, Jump Trading Group, and Marex. “Futures have long served as valuable hedging instruments in the traditional financial markets, and we couldn’t be more excited to extend access to this tool further into the digital assets markets and offer margined trading for our customers,” Cboe Digital President John Palmer said. “We believe derivatives will foster additional liquidity and hedging