Coinbase exchange has announced its plans to launch Bitcoin (BTC) and Ether (ETH) futures contracts for institutional investors.
June 02, 2023 | | | | Milk Road has acquired Bitcoin Price! Milk Road is the #1 crypto newsletter that is free and will make you smarter about crypto! | | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $27,016 | Bitcoin price continues to hover around the $27,000 to end the week, as price appears to have settled in a small range. | Top-20 altcoins have once again mostly seen small gains, as Ether gains 1%, BNB rises less than 1% and Cardano leads with a 3% advance. | Top Stories for June 2, 2022 🔥 | | Coinbase exchange has announced its plans to launch Bitcoin (BTC) and Ether (ETH) futures contracts for institutional investors, despite facing regulatory challenges in the US. | The futures contracts will be introduced on June 5 through Coinbase's derivatives exchange, which is regulated by the Commodity Futures Trading Commission. The institutional-sized contracts will have specific sizes of 1 Bitcoin and 10 Ether, allowing clients to effectively manage their market exposure. | Coinbase aims to cater to the needs of institutional investors by offering innovative solutions tailored to their requirements. The exchange settles all trades in Circle's USD Coin (USDC) stablecoin. | | London-based Arch Insurance International has granted cryptocurrency insurer Evertas the authority to increase the coverage limit for a single policy to $420 million – the highest in the industry for custodians or exchanges. | The $420 million coverage applies to crime-related policies involving the theft of private keys held by custodians such as Coinbase and Binance. Previously, Evertas had a single policy limit of $5 million. | As a coverholder for Lloyd's of London, Evertas has the authority to write crypto insurance on behalf of Arch Insurance. | | Taurus, a digital asset infrastructure provider based in Geneva, Switzerland, has partnered with Ethereum scaling network Polygon to facilitate the tokenization of real-world assets. | Taurus highlights that major financial institutions are entering the space and require a blockchain-agnostic and token-agnostic infrastructure. Polygon, as a layer 2 blockchain, offers faster and more cost-effective transaction processing compared to the main Ethereum network. | The firm raised $64 million in a funding round led by industry giants Credit Suisse and Deutsche Bank in February. | | Today on Milk Road: Numbers of the day, Funding Friday, and Sui blockchain – meet Red Bull. | |
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