11 May 2025, 15:50

Coinbase’s $2.9B Deribit Deal Ignites 24/7 U.S.-Regulated BTC & ETH Futures

Coinbase Launches 24/7 Regulated Futures Trading for Bitcoin and Ethereum Coinbase on May 9 announced the official launch of 24/7 trading of Bitcoin (BTC) and Ethereum (ETH) futures, marking the first time a U.S. CFTC-regulated exchange has made crypto futures trading available continuously. The service, provided via Coinbase Derivatives LLC, now allows traders to trade around the clock—including nights, weekends, and holidays. Closing the Time Gap in U.S. Crypto Markets Until now, CFTC-regulated derivatives were restricted to weekday sessions, creating a disconnect with the global crypto market’s nonstop pace. This strategic move lets traders respond instantly to volatile price shifts and aligns with crypto’s always-on nature. Coinbase said this offering will support both institutional-grade and retail-sized contracts. Clearing will be handled by Nodal Clear, ensuring compliance and transparency. Key Partnerships Powering the Launch To support this 24/7 launch, Coinbase partnered with market maker Virtu Financial and several Futures Commission Merchants, including ABN AMRO, Wedbush Securities, and Coinbase Financial Markets. Coinbase Financial Markets CEO Andy Sears called it a “game-changer,” highlighting the platform’s commitment to providing frictionless access through Coinbase Advanced. $2.9 Billion Deribit Acquisition Strengthens Strategy Coinbase’s derivatives push gathered steam with its $2.9 billion purchase of crypto options exchange Deribit, announced just a day ahead of the 24/7 futures launch. The acquisition includes $700 million in cash and 11 million Coinbase shares. The transaction, which is expected to be finalized by year-end pending regulatory approvals, adds Deribit’s options and perpetuals products to Coinbase’s growing stable—a capital-efficient platform for spot, futures, perpetuals, and options trading. Regulated Perpetual Futures in the Pipeline Further ahead, Coinbase plans to unveil U.S.-regulated perpetual-style futures—expiry-free contracts long popular on offshore exchanges. Such offerings position Coinbase to conquer a flourishing market, with April alone seeing $1.9 trillion in BTC futures volume, with $22.1 billion via Deribit. Competitive Landscape Heats Up Coinbase’s Q1 earnings revealed 37% YoY growth in subscriptions and services revenue to $698.1 million, reflecting hunger for non-trading revenue sources. Meanwhile, rivals like Kraken are expanding as well, with leveraged forex perps and UK market pushes, pointing to the fierce fight for crypto derivatives dominance in 2025.

11 May 2025, 15:40

Pump.fun deposits $22.8 million in SOL to Kraken amid renewed protocol activity

Solana-based memecoin deployer Pump.fun has transferred 132,000 SOL worth around $22.88 million to Kraken. The move continues the protocol’s practice of selling off SOL, which is collected as transaction fees. According to EmberCN, Pump.fun has sent SOL to Kraken every week or two after accumulating transaction fees. The popular memecoin launchpad had already deposited 105,233 SOL tokens worth around $16 million to Kraken on May 3. Pump.fun recent SOL sales (Source: EmberCN) EmberCN said: “Pump.fun will transfer these SOLs to Kraken after accumulating one to two weeks of transaction fee income.” With the recent sale, Pump.fun has sold over $38 million worth of SOL this month alone. While this reflects its selling behavior, the fact that it deposited a higher amount of SOL in its latest transfer than more recent ones suggests that it might be seeing a resurgence in activity, driving up its transaction fees. Data from Dune Analytics support this, with the protocol seeing an increase in its daily volumes this month. In the last 24 hours alone, over 26,000 tokens have launched on the protocol. Pump.fun sells over $700 million SOL in more than a year While the recent selloffs by Pump.fun are not surprising, the timing brings back the debate over the impact of the memecoin launchpad on the Solana ecosystem. On the one hand, the platform allowed Solana to become the leading network for memecoins, thereby boosting the chain activity. However, concerns about how Pump.fun is only extracting value from the Solana ecosystem have grown with every SOL sale by the protocol, with many believing it has caused more harm than good. Despite the differing opinions, the one clear thing is that Pump.fun SOL sales represent a major selling pressure for the token. Interestingly, the platform has sold 3.868 million SOL tokens worth over $701.76 million in more than a year, with an average price of $183.3. Its latest sales even coincide with the SOL price resurgence, leading to speculation that it might be taking profits. The token has seen a 45% rise in value in the last 30 days, making it one of the best performers in that period. Meanwhile, SOL is now trading around $171, with its value steady over the last 24 hours despite the recent sell-offs by Pump.fun. Although the token is still down 11% year-to-date, many see the recent gains as a sign of optimism and resurgence. Memecoins are up 82% in average price in the last four months SOL’s positive performance reflects the gains of the memecoin sector in recent weeks. According to CoinMarketCap, the sector has seen an increase of 58.78% in its market cap over the last 30 days, while the average price has also increased by 82.43%. Almost all the major cap memecoins, starting from the leading token DOGE, have recorded at least double-digit gains in the past month. Outliers such as WIF, PENGU, BRETT, and PNUT have even seen over 100% increase in value. While the broader market performance has also influenced memecoin gains, the sector’s substantially higher growth during the period suggests that investors might be interested in memecoin again. Still, not everyone is sold on memecoins. A recent report by Solidus Labs claims that 98.6% of tokens launched on Pump.fun are pump and dump schemes or rug pull while. It added that only 97,000 of the seven million memecoins launched through the platform had maintained at least $1,000 liquidity. The report represents a criticism of a sector many believe exemplifies everything wrong with the crypto industry, where bad actors continue to embezzle billions and retail investors leave with losses. However, Pump.fun has pushed back on the criticisms, stating that the long-term worthlessness of memecoins is a feature, not a bug. The protocol spokesperson, Troy Gravitt, stated that a functioning marketplace for those who want to trade is more important. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now

11 May 2025, 15:20

Solana’s MOODENG and GOAT May Signal Renewed Interest in Meme Coins Following Binance Alpha Inclusion

Two Solana-based meme coins, MOODENG and GOAT, have experienced significant price increases following their listing in Binance’s Alpha program. The surge in these tokens has rekindled interest in Solana’s meme

11 May 2025, 15:00

BSV Investors Seek to Revive 2019 Lawsuit Against Binance Over Delisting Impact

Investors in Bitcoin Satoshi’s Vision (BSV) are making a renewed push to revive a 2019 lawsuit against crypto exchange Binance, alleging the platform’s decision to delist the token severely impacted its long-term value. BSV, which currently trades around $42, is a hard fork of Bitcoin Cash (BCH), which itself forked from the original Bitcoin (BTC) network. According to Law360 , the plaintiffs are asking for the UK Competition Appeal Tribunal to revisit a July 2024 ruling that dismissed their “loss of chance” claim. BSV Backers Blame Binance Delisting for Altcoin’s Decline They argue that Binance’s decision to delist BSV, along with similar actions by other major exchanges, effectively suppressed the altcoin’s market potential. The original claim sought $9 billion in damages, but the investors now say they could pursue up to £10 billion (approximately $13 billion) if the case moves forward. The legal team contends that BSV never recovered from the delistings and continues to underperform due to lack of visibility and trading access. Despite a 15% price bump following news of the revived legal effort, BSV remains in a persistent downtrend and has failed to gain meaningful market share or network power relative to Bitcoin. Today we are at the Royal Court of Justice in London The case is "BSV Holdings Limited" vs crypto exchanges such as @krakenfx and @binance . It is over the delisting of the BSV coin in 2019 and BSV holders are asking for £9 billion. The exchanges tried to stop the case going to… pic.twitter.com/0tITwdvrCz — BitMEX Research (@BitMEXResearch) May 8, 2025 Binance removed BSV in April 2019, citing concerns over its listing standards. The move followed repeated claims by BSV’s creator, Craig Wright, who has long asserted—without proof—that he is Satoshi Nakamoto, Bitcoin’s pseudonymous founder. Former Binance CEO Changpeng Zhao had publicly warned that Wright’s behavior could result in delisting. Since then, BSV has also been the target of several 51% attacks, undermining trust in its blockchain’s security and stability. These setbacks have only deepened skepticism about the project’s viability, even as its backers press ahead with legal action. CZ Confirms Pardon Request After Initial Denial Last week, CZ confirmed that he has formally applied for a presidential pardon, weeks after initially denying reports of such a move . Speaking on the Farokh Radio podcast aired May 6, Zhao said his legal team filed the request following widespread media speculation. “I got lawyers applying,” Zhao said during the interview, saying that he ultimately decided to move forward after stories from Bloomberg and The Wall Street Journal suggested he was pursuing a pardon from former U.S. President Donald Trump. “If they’re writing this article, I may as well just officially apply,” Zhao added. The former crypto mogul pleaded guilty to violating the Bank Secrecy Act in November 2023 as part of a settlement with U.S. authorities. The agreement led to Binance paying $4.3 billion in fines, with Zhao personally contributing $50 million. He was sentenced to four months in prison and barred from holding any management position at Binance as a condition of the deal. Zhao has since shifted focus to international advisory work, offering guidance to governments in Pakistan and Kyrgyzstan on crypto regulation and blockchain integration. The post BSV Investors Seek to Revive 2019 Lawsuit Against Binance Over Delisting Impact appeared first on Cryptonews .

11 May 2025, 14:43

See BNB Surge as Crypto Factors Align!

BNB closely mimics Bitcoin and Ethereum, bolstering Binance's ecosystem trust. BNB's core value drivers and ETF applications support its long-term success. Continue Reading: See BNB Surge as Crypto Factors Align! The post See BNB Surge as Crypto Factors Align! appeared first on COINTURK NEWS .

11 May 2025, 14:23

Solana's Meme Coin Frenzy: 98% of Pump.fun Tokens Are Scams

A recent report from Solidus Labs has revealed that 98.6% of tokens launched on Pump.fun —a Solana-based platform for creating meme coins—are likely rug pulls or pump-and-dump schemes. Out of more than 7 million tokens issued between January 2024 and March 2025, only about 97,000 maintained liquidity above $1,000 , indicating how few survive beyond initial hype. Solana’s low fees and easy-to-use decentralized exchanges have made it a breeding ground for speculative tokens. Pump.fun has emerged as the main platform fueling this trend, regularly hitting $100 million in daily trading volume , mostly from short-lived meme coin activity. The platform uses a bonding curve model in its automated market maker (AMM), where each token purchase raises the price exponentially. While this benefits early buyers and creators, it often leaves later participants with steep losses once liquidity vanishes. Additionally, some users manipulate the system with “same-block sniping” strategies—profiting by placing trades in the same block their tokens are created. Solidus also reviewed activity on Raydium, another Solana-based exchange. It found that 93% of 388,000 liquidity pools showed signs of soft rug pulls—sudden liquidity removals causing prices to crash. Although 25% of these scams involved small sums under $732, some losses were far greater, with one case reaching $1.9 million. Pump.fun's rising popularity has also led to legal scrutiny. It currently faces two class-action lawsuits alleging securities violations and excessive fee collection. In late 2024, the platform had to shut down its livestream feature after users misused it to promote scam tokens, leading to a $22 million drop in weekly revenue.