Bitcoin futures open interest has reached $5.2 billion on global derivatives trading platform Chicago Mercantile Exchange (CME), a figure that’s close to its all-time high of $5.4 billion seen in October 2021.

Nasdaq-listed cryptocurrency exchange Coinbase has launched a new feature allowing its customers to transfer funds through various popular social media applications, including WhatsApp, iMessage, Telegram, Facebook, and TikTok.

IBM has unveiled a new cryptographic signing technology designed to securely manage digital assets in cold storage, helping mitigate the risks inherent in manual handling processes while keeping funds offline.

Top stories in the Crypto Roundup today:

• Bitcoin Futures Open Interest on CME Near Record High
• Coinbase to Let Users Send Money via WhatsApp, TikTok and Other Apps
• IBM Launches New Technology to Secure Digital Assets in Cold Storage
• Grayscale Bitcoin Trust’s Discount Shrinks to 8% After Record High

Bitcoin Futures Open Interest on CME Near Record High

Bitcoin futures open interest has reached $5.2 billion on global derivatives trading platform Chicago Mercantile Exchange (CME), a figure that’s close to its all-time high of $5.4 billion seen in October 2021.

The total value of unsettled Bitcoin futures contracts on the CME has grown from $3.63 billion to $5.2 billion over the last 30 days as the price of the cryptocurrency moved up to surpass $40,000 for the first time since May 2022. It is currently trading  at $43,700.

These surges in open interest aren’t new in the cryptocurrency space. From October 1 to 21, 2021, the total value of unsettled Bitcoin futures contracts on the CME surged from $1.46 billion to $5.45 billion as the price of BTC grew from $45,000 to $66,000.

Bitcoin’s price has been rising amid speculation that the U.S. Securities and Exchange Commission (SEC) may soon approve a spot Bitcoin exchange-traded fund (ETF) in the United States.

A spot Bitcoin ETF would allow investors to gain exposure to the cryptocurrency without managing a Bitcoin wallet’s private keys. Major asset managers including BlackRock and Fidelity have filed to list such an ETF in the US.

Coinbase to Let Users Send Money via WhatsApp, TikTok and Other Apps

Nasdaq-listed cryptocurrency exchange Coinbase has launched a new feature allowing its customers to transfer funds through various popular social media applications, including WhatsApp, iMessage, Telegram, Facebook, and TikTok.

In a blog post, the firm noted it made it “ easy to send money anywhere you can share a link, whether it's through messaging apps like WhatsApp, iMessage, and Telegram, social media platforms like Facebook, Snapchat, TikTok, and Instagram, or even via email.”

Coinbase noted that its users can send money across borders instantly and without any fees, as long as they have the Coinbase Wallet, adding that if the sender or receiver doesn’t have Coinbase Wallet and receive a link, they will be directed to download it from the Apple or Android app stores.

If funds are sent and aren’t retrieved within two weeks, the funds are automatically returned to the sender. Coinbase’s Wallet is available in over 170 countries, according to the firm.

IBM Launches New Technology to Secure Digital Assets in Cold Storage

IBM has unveiled a new cryptographic signing technology designed to securely manage digital assets in cold storage, helping mitigate the risks inherent in manual handling processes while keeping funds offline.

Known as IBM Hyper Protect Offline Signing Orchestrator (OSO), this technology offers enhanced security for high-value transactions through features like disconnected network operations, time-based security and electronic transaction approval by multiple stakeholders.

IBM, often referred to as 'Big Blue', has been steadily leveraging its expertise in key management, particularly through its confidential computing technologies, to address the needs of the digital asset sector.

The firm has said the primary vulnerabilities of cold storage lie in the human element, which includes risks like insider threats, coercion-based attacks, and operational mistakes by data center administrators or through rudimentary "pen and paper" methods.

IBM's newly developed OSO technology is currently being implemented by IBM’s long-standing crypto partner Metaco, a custody firm owned by Ripple.

Grayscale Bitcoin Trust’s Discount Shrinks to 8% After Record High

From June 2023, the discount on Grayscale’s Bitcoin Trust (GBTC) has been progressively dropping.

GBTC’s  Net Asset Value (NAV) discount, which peaked at 45%—the highest since the trust’s inception—has contracted to a mere 8% as of November 24t This is a level that hasn’t been observed since August 2021.

Dig deeper into the world of cryptocurrency trading with CCData’s latest Digital Asset Management Review.

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