Top stories in today’s Crypto Roundup:

• CME reveals details of upcoming bitcoin options - here’s what you need to know
• CoinList raises $10 million with backing from Twitter CEO Jack Dorsey
• Genesis sees a surge in cash and stablecoin lending

Bitcoin started to slide toward the $9,200 level last night, while most of the top cryptoassets have held relatively steady since the market-wide rally over the weekend. 

At the time of writing, bitcoin (BTC) is trading at $9,206 (–2.49%) with a daily trusted volume of $1.93 bn. As for ether (ETH), it is trading at $186.26 (-0.02%) with a daily trusted volume of $306.93 mn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 3,172.70 (-0.60%).

CME bitcoin options - here’s what you need to know

The CME Group yesterday (30 Oct) published the specifications for its soon to be launched bitcoin options contracts (Option contract definition). Each contract is to be based on one of CME’s bitcoin futures contracts - which consists of five bitcoin.

The launch date is expected in the first quarter of 2020. The options contracts are useful for traders that wish to hedge their risks against bitcoin positions they have on spot or futures markets.

The bitcoin options markets are relatively small compared to the spot and futures markets. Currently, Deribit leads the options markets but competitors such as Bakkt are launching their own options markets as soon as Dec. 9.

CoinList raises $10 million with backing from Twitter CEO Jack Dorsey

Coinlist has raised $10 million for the development of their token sales platform, the raise was led by Polychain Capital and included Twitter CEO Jack Dorsey. CoinList plans on launching a cryptocurrency exchange - CoinList Trade - and a cryptocurrency wallet amongst other services.

“Crypto needs a trustworthy platform for launching new projects. CoinList leads the industry in that role, and trading is a logical next step,” said Dorsey, a vocal bitcoin advocate and CEO of payments company Square Inc., which launched a separate cryptocurrency division, Square Crypto, earlier in the year.

Genesis sees a surge in cash and stablecoin lending

Genesis Capital, the institutional focused lending and trading platform saw a surge in cash and stablecoin lending this quarter. The Digital Currency Group published its latest “Digital Asset Lending Snapshot” on Wednesday, the report revealed that the surge in cash lending was substantial, pushing bitcoin-denominated loans to less than 60% of Genesis’ portfolio.

According to Matt Ballensweig, head of business development at Genesis, much of the liquidity often comes from crypto-rich mining firms who need loans to pay overhead costs. The report also noted a rise in altcoin lending - primarily driven by a rise in ETH and ETC-backed loans, which together comprise 10.5% of the firm’s total outstanding loans.

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