Coinbase Crypto Futures Trading For US Retail Goes Live

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Coinbase Crypto Futures Trading For US Retail Customers Goes Live

Swiss National Bank Launches Wholesale CBDC

Treehouse Acquires Origins to Expand NFT Data Offering

Coinbase Crypto Futures Trading For US Retail Customers Goes Live:

• Coinbase has launched crypto futures trading for eligible U.S. retail customers through Coinbase Financial Markets (CFM), offering "nano" bitcoin contracts sized at 1/100th of a Bitcoin and 1/10th of an Ethereum, aimed at retail traders seeking regulated leverage options.

• The launch follows Coinbase's regulatory approval from the National Futures Association, enabling it to operate as a futures commission merchant, tapping into the significant crypto derivatives market which accounts for a large portion of global crypto trading volume.

• Coinbase warns of the high risks associated with leveraged futures trading, emphasizing that while it can hedge and diversify portfolios, leverage can also amplify losses beyond the initial investment, with all contracts settled in U.S. dollars.

Swiss National Bank Launches Wholesale CBDC:

• The Swiss National Bank (SNB) is working with six commercial banks and the SIX Digital Exchange to accelerate the deployment of a wholesale central bank digital currency (wCBDC), known as the Swiss Franc wCBDC, intended for financial institutions' use within Switzerland.

• The Swiss Franc wCBDC initiative, part of Helvetia Phase III, is set to test live settlement of market transactions using the digital currency and will allow banks to issue digital Swiss Franc bonds for settlement on a delivery-versus-payment basis, with the pilot running from December 2023 to June 2024.

• While Switzerland moves forward with its CBDC, the European Central Bank is preparing to launch a digital Euro, with a vote still pending on its issuance; meanwhile, the US remains hesitant as the Federal Reserve states that the decision for a CBDC issuance lies with Congress, despite ongoing consultations with blockchain experts.

Treehouse Acquires Origins to Expand NFT Data Offering:

• Treehouse, a Singapore-based Web3 data company, has acquired Origins Analytics, an NFT analytics platform, to bolster its offerings in NFT-related data services using comprehensive on-chain and off-chain analysis.

• The founding team of Origins will join Treehouse, contributing their expertise to develop services like an NFT wallet notification system, analytics bots, and a wallet profiling API, enhancing Treehouse's analytical capabilities in the NFT space.

• While the acquisition amount remains undisclosed, Treehouse, which secured $18 million in seed funding from major investors, is considering further mergers and acquisitions to strengthen its position in the market, especially amidst the current bear market conditions.

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