In the wake of CFTC approval of perpetual futures contracts tied to the spot price of Bitcoin, Kraken expects to offer those to US institutional clients within "the next month." Kraken said late Friday that it expects to launch CFTC-regulated perpetual futures contracts in the US in the next 30 days, hours after the US Commodity Futures Trading Commission approved the instruments. The exchange said when it gains approval, the contracts will be listed on Bitnomial Exchange, a CFTC-regulated exchange recently acquired by Kraken's parent company, Payward. Payward said on April 17 that it was acquiring crypto derivatives platform Bitnomial for as much as $550 million, aimed at providing Kraken Pro customers with access to Bitnomial's perpetual futures offering. Read more
Bitcoin faced ending May lower by around 3%, with the possibility of US PMI data giving BTC price action a boost next week. Bitcoin (BTC) circled $73,500 on Sunday as bulls stared down 3% BTC price losses for May. Key points: Read more
Bitcoin’s bounce from a key holder cost-basis level has improved the case for further upside, with historical data pointing to $101,000 as a potential best-case target. Bitcoin (BTC) is rebounding from a key on-chain support zone, putting the $78,000 level back in focus for bulls. Key takeaways: Bitcoin rebounded roughly 2.5% over the weekend to reach $74,000 on Sunday, with the recovery beginning near $72,500. Read more
Vietnam’s Ministry of Finance has proposed letting SMEs use digital assets, virtual assets and intellectual property as loan collateral. Vietnam’s Ministry of Finance has proposed letting small and medium-sized enterprises use digital assets, virtual assets and intellectual property as collateral for bank loans. The proposal is part of a draft revised Law on Support for SMEs, which is open for public consultation, according to a Friday report by Vietnam News. Under the framework, businesses could secure loans using future-formed assets, property rights, intangible assets and digital or virtual assets. SMEs and household businesses account for more than 98% of all enterprises in Vietnam, yet outstanding loans to the segment represent only around 20% of total bank credit in the economy, per the report. The Ministry attributed the imbalance to a lack of eligible collateral, limited financial transparency and the small capital base of most SMEs. Read more