While spot trading volumes have been plunging in the cryptocurrency industry, Coinbase’s new derivatives unit is seeing retail traders pour into its “nano” bitcoin futures product (BIT), which recently saw volumes hit record highs for three straight days over the last week.
FTX CEO Sam Bankman-Fried has said that his firms would be willing to spend “hundreds of millions beyond what we have thus far and in some cases more than that” to backstop firms affected by crypto’s recent crash.
Music streaming platform Audius has seen a malicious governance proposal result in the transfer of $6.1 million worth of cryptoassets away from its wallets, with the hacker behind the attack making away with over $1 million.
Top stories in the Crypto Roundup today:
- The Rise of FTX
- Coinbase’s ‘Nano’ Bitcoin Futures Product Sees Trading Volume Surge
- FTX CEO Says His Firms May Deploy ‘Hundreds of Millions’ to Backstop Crypto Industry
- Hacker Steals $1.08 Million From Music Streaming Platform Audius