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Trump win fuels bitcoin derivatives boom as futures open interest surges over $60 billion

Bitcoin futures open interest has surged since Donald Trump’s election win.Bitfinex analysts observe this as “organic growth,” dismissing fears of a correction despite increased leverage.

The Block·2024/11/28 17:55

Ethereum L2s surpass record $51B TVL after 205% yearly growth

Cointelegraph·2024/11/28 16:56

How U2U is redefining enterprise blockchain with DePIN: Report

Cointelegraph Research examines how the U2U Network leverages DePIN to solve enterprise challenges in scalability, security and compliance.

Cointelegraph·2024/11/28 16:55

Human player outwits Freysa AI agent in $47,000 crypto challenge

Quick Take A crypto user successfully convinced Freysa AI agent to hand over $47,000 worth of crypto prize. The winner tricked the AI agent into misinterpreting its “approveTransfer” function. The game was challenged by 195 players with 482 attempts, during which the AI agent imposed incremental query fees.

The Block·2024/11/28 16:00

Josh Lim on how Trump’s election is opening the door for institutional crypto adoption

Quick Take Arbelos Markets co-founder Joshua Lim explains how Trump’s election could open the door to greater institutional adoption of crypto.

The Block·2024/11/28 16:00

Crypto execs open up about debanking experiences following Trump's US election win

Quick Take Following a16z co-founder Marc Andreessen’s recent interview on Joe Rogan’s podcast, several crypto execs opened up about their debanking experiences. The industry expects a more friendly incoming administration under Donald Trump following various pro-crypto campaign pledges, including shutting down “Operation Choke Point 2.0.”

The Block·2024/11/28 16:00

The Daily: Human outwits Freysa AI agent to win $47,000, Hyperliquid token exceeds $5 billion FDV following airdrop and more

Quick Take A human crypto user, known as “p0pular.eth,” outsmarted AI agent Freysa to win a $47,000 prize in ether by tricking it into misinterpreting its “approveTransfer” function. Hyperliquid airdropped 310 million HYPE tokens on Friday, which subsequently jumped 47% following the token generation event to $5.72, according to CoinGecko. Taiwan’s Financial Supervisory Commission is set to implement stricter anti-money laundering rules for crypto service providers on Nov. 30 — a month earlier than initial

The Block·2024/11/28 16:00

Ethena and Securitize pitch upcoming BlackRock-fueled stablecoin in Spark's $1 billion tokenization play

Quick Take Ethena and Securitize have submitted a bid for Ethena’s upcoming stablecoin USDtb in Spark’s $1 billion tokenization competition. BlackRock’s BUIDL fund will initially provide more than 90% of the stablecoin’s backing.

The Block·2024/11/28 16:00

The Scoop: CME emerges as the big winner in the post-ETF crypto landscape

Quick Take We now live in a post-ETF world where crypto is no longer an isolated asset class. This column is adapted from The Scoop newsletter.

The Block·2024/11/28 16:00

World Markets Juggle Bitcoin Surge and Trump Trade Uncertainty

U.S. stocks and the dollar surge, but bond market risks loom ahead in December. Bitcoin’s 37% rally raises questions about sustainability amid speculative risks. Euro, peso, and yuan struggle as global currencies react to Trump’s policies.

CoinEdition·2024/11/28 16:00

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16:13

2026 Federal Reserve Interest Rate Outlook: Rate Hike Expectations Rise, 37.3% Probability of Cumulative 25 Basis Point Hike

BlockBeats News, May 29th. According to CME FedWatch Tool data, the market's expectations for interest rate cuts this year have been almost entirely erased, with some even contemplating a potential 75 basis point rate hike. Currently, the probability of the Fed holding rates steady through the end of 2026 is 51.9%. The probability of a cumulative 25 basis point rate cut throughout the year is only 0.5%, while the probabilities of a cumulative 25 basis point rate hike, 50 basis point rate hike, and 75 basis point rate hike are 37.3%, 9.3%, and 1%, respectively. Furthermore, the probability of a 25 basis point rate cut at the next Fed meeting in June is 1.1%.

15:24

Goldman Sachs Warns of Short Squeeze Risk in U.S. Stocks Becoming Fuel for a "Short Squeeze" Rally

BlockBeats News, May 28th, S3 Partners' latest data shows that the total short interest in the U.S. and Canadian stock markets has surged by nearly $100 billion since the end of April, reaching $2.13 trillion, hitting the highest level on record since 2010. Meanwhile, Goldman Sachs, the primary broker data, shows that the median short interest as a percentage of market capitalization of S&P 500 index components has climbed to 3%, the highest level since the end of 2011. The Goldman Sachs trading team pointed out that this extreme positioning implies that the next stage of the market's upside momentum may no longer be led by large-cap tech stocks but by a short squeeze-induced rally — especially in sectors that are out of favor and heavily shorted, where the risk of a reversal continues to build. Bearish bets have spread from the information technology sector to various other sectors such as industrials, financials, and energy, with a high concentration of shorts in defensive sectors: the median short interest in the healthcare sector has reached nearly a 30-year peak, while the utilities and consumer staples sectors are approaching historical highs. Goldman Sachs warns that the "right tail risk" in these sectors is significantly increasing. The current sentiment in the U.S. stock market has significantly improved since March, and money has begun to rotate: hedge funds bought into the non-essential consumer goods sector at the fastest pace in two months last week, while the net exposure to consumer staples saw the fastest decline in over five years. Research firm Wolfe Research believes that if geopolitical tensions ease, equally weighted allocations to sectors like non-essential consumer goods, technology, and industrials are expected to benefit further.

15:23

Wix to lay off about 20% of its workforce, citing exchange rate pressure and AI transformation as main reasons

Glonghui, May 28 — Website development company Wix announced it will lay off about 20% of its workforce. The layoff decision is mainly driven by two factors: the continuing appreciation of the Israeli shekel against the US dollar, and the rapid advances in artificial intelligence technology. In an open letter, Wix co-founder and CEO Avishai Abrahami wrote: In the past few quarters, exchange rate fluctuations have been significant. Since most of the company's teams are based in Israel, costs such as salaries are calculated in shekels, while revenues are mainly in US dollars. The ongoing changes in exchange rates have placed considerable pressure on the company's operations. Additionally, Wix pointed out that artificial intelligence is profoundly altering the business models of technology companies. Abrahami described this shift as the most significant change in the way businesses are built since the invention of modern programming languages in the 1970s.

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