Cryptocurrencies’ frankly not all that long, and volatile but really not all that difficult, march to a respectability that a substantial number of its users and proponents would prefer to do without continues apace.

British hedge fund manager Alan Howard is the fourth-largest shareholder in digital asset manager CoinShares…. Prior to the listing, Howard was a hidden investor….

Indeed, the Brevan Howard revival continues apace, as Howard could have chosen to make his cryptofancying clear with a different investment.

Cryptocurrency-exchange operator Coinbase Inc. agreed Friday to pay $6.5 million to settle regulatory claims that it reported misleading information about its trading volumes…. The outcome clears one cloud hanging over Coinbase as it prepares to become a public company through a direct listing on the Nasdaq Stock Market…. The claims against Coinbase date from a period between 2015 and 2018 and relate to trading on an exchange now known as Coinbase Pro. The company operated two programs that generated orders that sometimes traded with each other, the CFTC said in a settlement order.

It’s becoming clearer and clearer that having those with cryptoexpertise in top regulatory jobs is not as favorable for the cryptorevolution as its cheerleaders might have hoped.

In fairness, Coinbase chief Brian Armstrong made pretty clear that he and the company would be single-minded in its efforts to maximize productivity and create an open financial system for the world, and isn’t all crypto trading fake on some level? Plus, better to get this whole thing sorted both before the direct listing and this week’s excitement.

Bitcoin options contracts… worth around 100,000 bitcoin, or almost $6 billion at today's prices, will expire on Friday, according to data from cryptocurrency analytics provider Bybt. This coming options expiry is significantly more than the previous $4 billion record, set in late January…. "There is a higher open interest build up on puts than on calls, as options writers remain more comfortable selling the downside than writing the upside," says Balani. "On the downside, the highest buildup is on $40,000 strike puts for the March expiry. $40,000 also remains the most sold strike for the June expiry and for longer maturities."

Coinbase to Pay $6.5 Million to Settle CFTC Investigation Over Trading [WSJ]
Bitcoin Is Braced For A Huge $6 Billion Price Earthquake This Week [Forbes]
Billionaire Hedge Fund Mogul Alan Howard Is a Shareholder in CoinShares [Coindesk via Yahoo! Finance]



Coinbase To Unite Two Scorned Corners Of The Financial Market

Can’t trade your cryptos fast enough? Just co-locate your servers at the giant bitcoin exchange.

By AntanaCoins (Own work) [CC BY-SA 3.0], via Wikimedia Commons

Looks Like We’ve Got Another Crypto Civil War On Our Hands

What makes a cryptocurrency a currency, one lawsuit-battling crypto wonders aloud and angrily?

By Mike Cauldwell ( [Public domain], via Wikimedia Commons

Hedge Fund's ‘Regulated Crypto’ Claim Becomes Self-Fulfilling Prophecy

The Crypto Asset Fund may not have been regulated when it made that claim—but it is now.

silver bars

Degenerates Distracted By Shiny Objects

So this whole Reddit bubble thing is still happening, just elsewhere.

grumpy cat

Got A Startup Starting With The Letter ‘B’?

Today’s your day to dance with the SPAC of your choice.

By Mike Cauldwell ( [Public domain], via Wikimedia Commons

Goldman Sachs Trades FUD For FOMO

And Chipotle trades bumretch for blockchain.