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FTX takes center stage at long-running futures conference in Boca Raton

FIA Boca — one of the largest institutional derivatives get-togethers — felt very different this year.  Not just because it was the first year since the onset of the pandemic that participants across the trading and exchange world descended upon Boca for the more than 40-years-old industry assemblage in Boca Raton Florida. It’s also not because the venue — the ornate, sprawling Boca Raton resort — was under construction (although that was a jarring experience for most guests).  Rather, it …

Coinbase outlines the path ahead for its planned derivatives offering

Coinbase revealed new details about its planned derivatives business during an event in Florida on Tuesday. The presentation at FIA Boca, a futures industry conference, came months after Coinbase announced its planned acquisition of FairX, a CFTC-regulated derivatives exchange. Appearing before the audience of traditional finance professionals were Vishal Gupta, Coinbase’s head of exchange, and Neal Brady, FairX’s co-founder and now a senior product director at Coinbase. Brady is also leading the rebranded FairX, now known as Coinbase Derivatives. During …

Crypto traders fret an overheated futures market amid fall in spot prices

The cryptocurrency market has shed billions of dollars in aggregate market cap amid a macro-driven rout, but traders are worried that an overheated futures market suggests that prices could fall further. The total market capitalization fell from a high Wednesday above $2.2 trillion to a low of $2.02 trillion early Thursday morning, with bitcoin falling more than 7% and ether sinking more than 12%. These moves were potentially driven by broader macro forces, specifically The Federal Reserve’s indication that it …

Kelly ETFs files for Ether futures ETF

Kelly ETFs, an issuer of exchange-traded funds (ETFs), has filed for a U.S. Ether futures ETF. The firm filed a Form N-1A dated today with the Securities and Exchange Commission (SEC). The N1-A is used by investment companies seeking to form open-end mutual funds, and registers a product under both the Securities Act of 1933 and the Investment Company Act of 1940. SEC Chair Gary Gensler previously said he was interested in taking a closer look at proposed crypto products …