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Bitcoin Profits Reach $110K as CME Surpasses Binance in BTC Futures Open Interest: Hodler’s Digest, Nov. 5-11

Bitcoin Profits Reach $110K as CME Surpasses Binance in BTC Futures Open Interest: Hodler’s Digest, Nov. 5-11

Top Stories This Week

CME overtakes Binance to grab largest share of Bitcoin futures open interest

The Chicago Mercantile Exchange (CME) has surpassed Binance in terms of Bitcoin futures open interest after Bitcoin exceeded the $37,000 mark for the first time in over 18 months. However, concerns remain about the depth of Bitcoin markets and potential market manipulation.

Cryptoqueen’s OneCoin legal chief pleads guilty to fraud

The former head of legal and compliance at OneCoin, Irinia Dilkinska, has pleaded guilty to charges of wire fraud and money laundering in relation to the $4 billion cryptocurrency trading scheme. She is facing a potential 10-year prison term.

Genesis seeks court’s approval to reduce Three Arrows Capital claim from $1B to $33M

Genesis, a bankrupt cryptocurrency lender, has requested court approval for a proposed settlement agreement with collapsed crypto hedge fund Three Arrows Capital. The claim against Genesis would be reduced from $1 billion to $33 million.

SafeMoon CEO bail release goes on hold after Feds cite flight risk

The release of SafeMoon CEO Braden John Karony on bail has been delayed by U.S. federal prosecutors, who argue that he may try to leave the country due to his alleged access to funds and connections abroad.

Binance to terminate Russian ruble deposits next week

Binance users in Russia have until January 31, 2024, to withdraw their rubles from the platform as Binance wraps up its operations in the country. Limited information about the details of the deal to sell its business to CommEX has caused controversy.

Winners and Losers

Bitcoin (BTC) is at $37,249, Ether (ETH) at $2,078, and XRP (XRP) at $0.67. The top three altcoin gainers of the week were FTX Token (FTT) at 250.48%, Kaspa (KAS) at 67.23%, and Cronos (CRO) at 52.20%. The top three altcoin losers of the week were Maker (MKR) at -3.39%, Tether Gold (XAUt) at -2.60%, and PAX Gold (PAXG) at -2.51%.

Prediction of the week

Analysts suggest that Bitcoin’s next all-time high may be at least $110,000 based on the Terminal Price indicator, which estimates long-term BTC price peaks.

FUD of the Week

JPEX scandal: Taiwan determines new suspects in alleged fraud

Taiwanese prosecutors are seeking to detain Chang Tung-ying, the chief partner at JPEX’s Taiwan office, on charges of fraud related to the JPEX cryptocurrency exchange. The Taipei District Prosecutors Office has identified new suspects in the case.

Crypto exchange CoinSpot reportedly suffers $2M hot wallet hack

Australian cryptocurrency exchange CoinSpot experienced a hack resulting in the theft of approximately $2.4 million from its hot wallet. The hack is believed to have occurred due to a private key compromise.

Poloniex exchange suffers $100M exploit, offers 5% bounty

A crypto wallet linked to digital exchange Poloniex experienced suspicious outflows, with attackers draining up to $100 million in crypto assets. The likely cause is a private key compromise, and the funds have already been transferred to external accounts.

Top Magazine Pieces of the Week

– Exclusive: 2 years after John McAfee’s death, widow Janice is broke and needs answers

– ‘$10K JPGs’ scare away gamers, Animoca’s crypto game streaming plans: Web3 Gamer

– 6 Questions for Lugui Tillier about Bitcoin, Ordinals, and the future of crypto

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