ZB Academy：CME announces the launch of Ethereum futures
The SEC (United States Securities and Exchange Commission) imposed penalties last week not just ShipChain and Ripple Labs. According to news on the 25th, the SEC accused the data verification startup Tierion’s $25 million initial coin offering (ICO) in violation of securities laws, and also required Tierion to repay its investors in TNT tokens.
TNT holders and ICO investors who sold their tokens at a loss have 60 days to request a substantial refund from Tierion, the total amount of which is cost plus interest. Node operators can sell their compensatory TNT to Tierion for 0.01 cents plus interest. According to the settlement agreement disclosed on Wednesday, Tierion must immediately ban the trading of its ERC-20 tokens running on the Ethereum blockchain. In addition, the SEC also imposed a fine of $250,000 on Tierion. According to the SEC, Tierion did not admit or deny its wrongdoing. The SEC also issued a regulatory waiver to Tierion, which means that because of its cooperation, it will not have to register for future private placements of securities.
This weekend, the top two cryptocurrencies by market capitalization have had very surprising gains. According to ZB.com’s official market data, Bitcoin is currently reported at $27,236, a 24-hour increase of 1.43%, and the highest 24-hour price is $28,424. In the past day, the price of Bitcoin has broken through several price nodes in succession, and it has risen rapidly. Ethereum is currently quoted at $710, a 24-hour increase of 10.62%, and the highest 24-hour price is $718.
According to a tweet by Ryan Watkins, an analyst at encrypted data provider Messari, the Chicago Mercantile Exchange Group recently announced that it will launch Ethereum futures on February 8, 2021. This not only stimulates the interest of institutional investors, but also provides a very important channel for institutional investors to buy Ethereum. According to the official announcement of CME (Chicago Mercantile Exchange), each contract will have 50 units of Ethereum, and this derivative product will be open for trading from Sunday to Friday from 5 pm to 4 pm. The Chicago Mercantile Exchange stated: “Building on the success of Bitcoin futures and options, the Chicago Mercantile Exchange Group will add ether futures to the cryptocurrency risk management solution in February.”
In addition, let’s take a look at the dynamics of various countries on cryptocurrencies.
On the 26th, Turkey’s Chief Central Bank Governor Naci Ağbal proposed to members of Congress on Friday that Turkey will start trialling previously undisclosed digital currencies in the second half of 2021. Although Turkey has not disclosed any developments regarding CBDC before, as far as the current situation is concerned, Turkey is trying to catch up with many well-known CBDC projects. According to data from BIS (Bank for International Settlements), although 80% of central banks are considering CBDC, only a handful of countries (Sweden, China, Bahamas) have entered the pilot phase or soft-start phase.
According to a report in the “Russian Today” on the 26th, Olga Skorobogatova, Russia’s first deputy governor, said that digital currencies may pose challenges. That is, one day it may make the SWIFT (Society for Worldwide Interbank Financial Telecommunication) global bank payment system redundant. He believes that given the speed of central bank currency development, some countries may launch their own CBDC in the next five to seven years. CBDC can directly deal with this kind of integration problem. In this case, SWIFT may not be necessary because it will be a different kind of technical interaction.
About ZB Group
ZB Group was founded in 2012 with the goal of providing leadership to the blockchain development space and today manages a network that includes digital assets exchanges, wallets, capital ventures, research institutes, and media. The Group’s flagship platform is ZB.com, the industry leading digital asset exchange. The platform launched in early 2013 and boasts one of the world’s largest trading communities.
ZB Group also includes ZBG the innovative crypto trading platform, and BW.com, the world’s first mining-pool based exchange. Other holdings include wallet leader BitBank.
Industry intelligence and standards are headed by the recently launched ZB Nexus who embody the core values of ZB Group and open-source their reports and analysis for the public.
Learn more about ZB Group by visiting www.zb.com.