Coinbase is set to launch retail-sized futures contracts for oil and gold on June 3, offering enhanced trading opportunities in traditional markets. The new contracts will cater to retail investors’ demand for diversification and will be sized at 10 barrels of oil and 1 troy ounce of gold. Coinbase already offers crypto derivatives like Bitcoin, Ether, Bitcoin Cash, Litecoin, and Dogecoin futures.
In other news, BlackRock’s Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust (IBIT), saw a massive inflow of $290 million on May 21, 2024. This represented 95% of the total net inflow into all U.S. spot Bitcoin ETFs on that day. The surge reversed a six-week trend of low or zero inflows and brought IBIT’s assets under management to $19 billion, just behind industry leader Grayscale’s GBTC spot ETF with $20 billion of inflows.
Tech giants Coinbase, Meta, Ripple, Kraken, Gemini, the Global Anti-Scam Organization (GASO), and Match Group have joined forces to launch the “Tech Against Scams” coalition. The coalition aims to combat online fraud and financial schemes by sharing knowledge and best practices across various technology sectors. Its focus will be on educating users about prevention strategies and enhancing consumer protection through collaborative efforts.
In the Ethereum ecosystem, a single multi-signature crypto wallet holds upgrade permissions for 12 Ethereum scaling networks, with a combined value of $121 million. While there is a potential risk if the wallet were to be compromised, Conduit founder Andrew Huang clarified that three out of five signatures from the team are required, making a compromise highly unlikely without physically compromising three individuals.
Gala Games has received around $22 million in Ether (ETH) from the individual responsible for the May 20th “security incident” involving the unauthorized minting and selling of GALA tokens. Gala Games froze the remaining tokens using a new “blocklist protocol” within 45 minutes of the attack. The attacker’s identity remains undisclosed, but Gala Games claims to have identified the alleged perpetrator. The details and method of exploitation have not been officially confirmed.
