Ah, Coinbase, that venerable institution of modern finance, did, on the twenty-first of April, in the year of our Lord, launch forth into the swirling currents of the U.S. Derivatives Exchange, its very own XRP futures contracts. And what a spectacle it was! 🎭 The daily trading volume, like a boisterous samovar at a village fair, overflowed, surpassing a staggering 100 million USDC. One might even say, with a touch of irony, that the demand was… palpable. 😂
These futures, you see, come in two distinct flavors, much like the choices at a merchant’s stall. There are the “Standard Contracts,” hefty beasts representing 10,000 XRP, clearly intended for the grandees and active traders of this digital age. Then, for the humbler folk, the retail-oriented “nano” contracts, a mere 500 XRP each, or approximately $1,000 as of that fateful April day. Small potatoes, one might jest, but enough to stir the passions, wouldn’t you agree? 🤔
Coinbase, never one to rest on its laurels (or perhaps simply eager for more coin), expanded its repertoire, adding to its already considerable collection of 20+ contracts on such exotic assets as Bitcoin, Ether, Dogecoin, and Solana. And, as if by some preordained decree, this launch coincided with the recent additions of CFTC-regulated Cardano and Natural Gas futures. The plot thickens! 🧐
The major exchanges—Coinbase, Robinhood, and even the august CME—are all engaged in this dance of expansion, each vying for the favor of the rising demands. Coinbase now boasts derivatives for over 92 assets globally, and a respectable 24 in the US. The trading volume, like a river in spring flood, has soared over 10,000% in the past year. Rumor has it they’re even eyeing Deribit, seeking to further entrench their dominance. How ambitious! 😈
Just as the champagne corks were popping and the celebratory bonfires were being lit, a dark cloud descended upon Coinbase. The Attorney General of Oregon, in a move that surely raised eyebrows (and legal fees), filed a lawsuit claiming that 31 tokens, including XRP, UNI, LINK, AAVE, and MKR, are naught but unregistered securities sold under false pretenses. 😱 The audacity!
Paul Grewal, the esteemed CLO of Coinbase, did not take this lying down. He condemned Oregon’s Attorney General, warning that this legal skirmish could harm not just Coinbase, but the entire crypto industry. He deemed the lawsuit lacking in credibility, motivated by… shall we say, less than noble political and financial interests. The drama! The intrigue! 🎭
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2025-04-23 11:52