BitGo Buys NYDIG's Institutional Trading Arm to Beef Up Derivatives and Financing
Related
BitGo buys NYDIG trading arm to deepen institutional crypto push
BitGo completed its acquisition of NYDIG’s institutional trading business, adding about 30 employees and expanding its derivatives and financing capabilities.
predict.fun Institutional-grade block trading function officially launched
According to official news from Mars Finance, the BNB ecosystem prediction market platform predict.fun has announced the launch of an institutional-grade bulk trading function. This function provides off-chain matching and on-chain settlement services for large-scale transactions on the platform, supporting institutional users in conducting large-scale prediction market transactions. Through a dedicated matching service, buyers and sellers can directly match counterparties to complete large orders in a single peer-to-peer (P2P) transaction, avoiding issues such as slippage, insufficient liquidity, and position exposure in traditional order book trading. It is understood that predict.fun will waive all over-the-counter (OTC) transaction-related fees for the next two weeks.
Coinbase has obtained a MiFID license in the UK, which will allow it to offer derivatives and stock trading to UK users.
Odaily Odaily that Coinbase has announced it has obtained a UK Investment Services License (MiFID), enabling it to offer trading services for traditional financial products to UK users. Institutional and professional traders will be able to trade crypto, stock, and commodity perpetual contracts, while retail users will be able to trade stocks on the Coinbase platform for the first time. Coinbase stated that this license, together with its existing UK e-money license and crypto asset registration qualifications, forms part of its regulatory framework. It represents the largest expansion of the company's product capabilities since entering the UK market and will further advance its "Everything Exchange" strategy. In the future, the platform will also gradually support services such as stablecoin payments, savings, lending, and tokenized real-world assets (RWA).
Decentralized derivatives trading protocol Variational will launch swap contracts in the third quarter.
According to Foresight News , the decentralized derivatives trading protocol Variational will launch swaps in the third quarter to bring liquidity from traditional financial institutions to the on-chain market. The official team has already signed a cooperation agreement to provide over $1 billion in open interest (OI) capacity to the swap market and has begun connecting traditional financial liquidity to perpetual contracts for gold, silver, and WTI crude oil, narrowing related trading spreads by over 20%. According to a previous report by Foresight News , Fortune magazine reported that Variational completed a $50 million Series A funding round in May of this year, led by Dragonfly Capital.
Analysis: Bitcoin rebounded, but spot trading volume shrank rapidly, and the risk of a squeeze on long positions in derivatives is accumulating.
According to BlockBeats, on July 6th, crypto analyst Murphy pointed out that during Bitcoin's rebound from $58,000 to nearly $64,000, spot trading volume declined rapidly. A rebound lacking support from spot demand is unlikely to form a trend reversal and is often just a sentiment-driven correction; the sustainability of the rebound needs to be monitored. On the positive side, the USDC/USDT exchange rate fell from 1.001 to 1.0006, indicating a weakening of exit intentions and a recovery in trading intentions. While major stablecoins on trading platforms are still experiencing net outflows, the outflow rate continues to narrow, and the marginal improvement in funding pressure supports the continuation of the rebound. However, the weakening of spot driving force means a relative increase in the weight of derivatives. The 7-day average of the perpetual contract long premium has continued to rise to $160,000/hour, indicating that Taker buying continues to push perpetual prices above spot prices; although open interest has decreased, it is still significantly higher than the level in February of this year. The current long premium is still within the normal range, but as the rebound continues, the risk of long squeeze will continue to accumulate. Once the open interest rebounds again, the fierce battle between long and short positions will make the volatility come faster and more rapidly. This is a hidden danger that needs to be paid attention to in advance.
The protagonist of ByteDance's stock trading success story: CPI, non-farm payroll data, etc., are not just market noise; he previously suffered a significant drawdown in his Nvidia investment due to ignoring the interest rate hike environment.
According to BlockBeats, on July 5th, Leto Bao, the protagonist of the "ByteDance stock trading 30 million yuan" story, reviewed his journey to a 30 million yuan fortune in the US stock market on Binance Square. He stated that CPI, non-farm payrolls, and Federal Reserve policies are all macroeconomic factors, while earnings season reflects the performance of specific companies or industries, and also reflects changes in the macroeconomy. Leto Bao stated that the CPI (Consumer Price Index) is one of the key indicators monitored by the Federal Reserve. A high CPI usually indicates greater inflationary pressure; a low CPI may reflect deflationary pressure. The Federal Reserve's long-term goal is to maintain inflation at around 2%, which represents a moderate inflationary environment, meaning a slow depreciation of the currency, while investment, consumption, and credit activities are relatively healthy. Non-farm payroll data also influences market judgment. There is a certain correlation between overheated employment and inflation, but the relationship between macroeconomic indicators is complex and not a simple linear deduction. The Federal Reserve is responsible for formulating economic policies related to interest rates and serving the US economy through policy adjustments. Leto Bao believes that CPI, non-farm payrolls, Federal Reserve policies, and earnings season should not be simply dismissed as "noise," but all have some reference value. He mentioned that when he previously invested in Nvidia, he ignored the broader interest rate environment, leading to a significant drawdown in his account. Therefore, macroeconomic factors still need to be incorporated into investment decisions. Leto Bao is a former employee of ByteDance, known as the "ByteDance Stock Investor." He reportedly made substantial profits (around 30 million RMB) by investing in the AI storage sector in the US stock market and subsequently resigned. The story began when he noticed an abnormal price increase when buying hard drives on Pinduoduo, which prompted him to research data storage needs and heavily invest in related stocks.