More Thurs. PM Seeds of Wisdom Crypto Update(s) 1-30-25

(Note: If you’re looking for more news regarding cryptocurrency, please visit our website Bitcoin Commando. All crypto news will be posted there. ~ Dinar Chronicles)

Seeds of Wisdom

COINBASE FILES TO LIST SOLANA AND HEDERA FUTURES ON ITS DERIVATIVES TRADING PLATFORM

▪️ Coinbase Derivatives has filed to list new futures contracts for Solana and Hedera tokens on or after Feb. 18.
▪️ The move comes amid a flurry of regulatory filings to list new assets like crypto ETFs and derivatives.

Coinbase Derivatives, a subsidiary of the U.S.-based crypto exchange, has filed to list new futures contracts for Solana and Hedera, according to separate regulatory filings on Thursday. The exchange is looking to list these new contracts, which will be cash-settled on a monthly basis, on or after Feb. 2025.

Coinbase is the latest firm looking to capitalize on the improved market sentiment and the possibility of positive regulatory advancement under the T------------------n.

CME, for instance, appears to be readying to launch SOL and XRP futures in the coming weeks, while asset managers such as VanEck and ProShares submitted a flurry of crypto ETF filings to trade Litecoin, XRP and Solana in the days leading up to Inauguration Day.

Launched in June 2021, Coinbase Derivatives is regulated by the Commodity Futures Trading Commission as a “designated contract market” to allow users to trade crypto derivatives like futures contracts on various digital assets, including BTC and ETH.

If approved, the new Solana futures will have a contract size of 100 SOL (around $24,000) contract notional, or the monetary value of a futures contract at a given price. Trading terminates at 4:00 PM London time on the last Friday of the contract month.

The exchange also filed to list a “nano” Solana contract with a size of five SOL. The Hedera contract would track 5,000 Hedera tokens.

Nodal Clear, LLC, a CFTC-registered derivatives clearing organization, will clear the contracts.

“The Exchange has spoken with FCMs and market participants who support the decision to launch a nano Solana Contract. The Exchange is not aware of any substantive opposing views to the Contract,” Coinbase wrote in all three regulatory filings.

@ Newshounds News™

Source: The Block

~~~~~~~~~

TETHER DISAPPOINTED WITH ‘RUSHED ACTIONS’ ON MICA-DRIVEN USDT DELISTING IN EUROPE

MiCA-triggered crypto changes in Europe could create a “disorderly” market, according to USDT stablecoin operator Tether.

Stablecoin operator Tether addressed European cryptocurrency regulations amid exchanges like Crypto.com preparing to delist its USDt stablecoin in Europe tomorrow.

Tether expressed disappointment over market developments in Europe amid changes triggered by the enforcement of the European Union’s Markets in Crypto-Assets (MiCA) framework.

Crypto.com, a global crypto exchange, confirmed on Jan. 29 it will start delisting Tether’s USDt stablecoin and nine other tokens on Jan. 31 to comply with MiCA regulations.

“It is disappointing to see the rushed actions brought on by statements which do little to clarify the basis for such moves,” a spokesperson for Tether told Cointelegraph.

EU consumers under risk of “disorderly” crypto market

MiCA-triggered changes pose significant risks for EU consumers and the local crypto market, with exchanges like Crypto.com preparing to delist multiple tokens, according to Tether.

“These changes affect many tokens in the EU market, not only USDt, and we fear that such actions will lead to further risk being placed on consumers in the EU,” Tether’s representative said.

According to Tether, such regulatory developments in the EU could create a “disorderly” market at a time when MiCA is still in the early stages of implementation.

As previously mentioned, Crypto.com’s MiCA-forced delisting process is set to affect a total of 10 tokens, including Wrapped Bitcoin (WBTC) stablecoin and more.

Coinbase — an exchange that delisted USDT in December 2024 — said at the time it would delist six tokens to comply with MiCA. The exchange delisted WBTC on the entire Coinbase platform for other reasons on Dec. 19, 2024.

“We regularly review the assets we make available to customers on our platform to ensure we are meeting regulatory requirements, and will assess re-enabling services for stablecoins that achieve MiCA compliance on a later date,” a Coinbase representative told Cointelegraph on Jan. 30.

The spokesperson also mentioned that Coinbase has so far delisted a total of eight tokens to comply with MiCA.

Tether finalizes European strategy for USDt

Apart from broader consumer risks potentially arising from MiCA-triggered ecosystem changes, Tether reiterated that MiCA poses negative implications for stablecoins licensed in the EU.

“As we have consistently expressed, some aspects of MiCA make the operation of EU-licensed stablecoins more complex and potentially introduce new risks,” Tether said.

Tether’s representative also again highlighted differences in stablecoin use cases between Europe and emerging markets, where USDT is extremely popular. “The USD stablecoin market is almost negligible in Europe,” the spokesperson noted.

At the same time, Tether still commends EU regulators for their efforts in establishing a structured framework, as it plays a key role in fostering growth within the sector, the spokesperson noted, adding:

“As Tether finalizes its European strategy for USDt, it remains committed to ensuring compliance with evolving regulations while introducing groundbreaking technologies such as Hadron and investments in transformative projects such as Quantor, designed to be MiCA compliant.”

Tether’s comments come shortly after the European Securities and Markets Authority pushed European crypto asset service providers (CASP) to start restricting non-MiCA-compliant stablecoins by the end of January.

While still allowing the listing of those tokens in sell mode until March 31, the regulator has asked CASPs to completely restrict non-compliant stablecoins by the end of the first quarter of 2025.

@ Newshounds News™

Source: CoinTelegraph

~~~~~~~~~

CZECH NATIONAL BANK GOVERNOR TO PROPOSE $7B BITCOIN RESERVE PLAN

The Czech National Bank may invest up to 5% of its reserves in Bitcoin, potentially acquiring $7.3 billion in BTC as part of its diversification strategy.

The Czech National Bank (CNB) may become the first European central bank to invest in Bitcoin as part of its diversification strategy for the country’s foreign exchange reserves.

CNB Governor Aleš Michl is set to present his Bitcoin acquisition plan to the bank’s board meeting on Jan. 30, he told the Financial Times.

If approved, the investment may amount to over $7.3 billion in Bitcoin purchases, given the CNB’s total reserves of more than $146 billion, according to André Dragosch, head of research at Bitwise 

@ Newshounds News™

Read more: CoinTelegraph

~~~~~~~~~

Source: Dinar Recaps

______________________________________________________

If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________

All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.

Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.

Copyright © Dinar Chronicles