In today’s episode of the Crypto Daily Download, Jane King discusses the recent downturn in Bitcoin’s value, which has dropped to below $70,000, largely influenced by stock market trends and the news that Michael Saylor’s MicroStrategy sold $2.5 million worth of Bitcoin—his first sale since 2022.
Jane also highlights the CME Group’s launch of 24-7 trading for cryptocurrency futures and options, which went live on May 29. This initiative saw over 7,200 contracts traded over the inaugural weekend, indicating strong demand for these markets.
In other news, Binance expands its offerings by providing access to over 7,000 U.S. stocks and ETFs, allowing users to convert these shares into blockchain tokens. Co-CEO Richard Teng shared that they are introducing zero-commission trades for non-U.S. customers and enabling fractional purchases starting at just $5, as part of their vision for a multi-asset financial super app.
Lastly, she dissects the collaboration between the Stellar Development Foundation and the government of Bermuda, which aims to transition key payment and financial services onto the Stellar network. This marks a significant step towards Bermuda’s goal of becoming the world’s first fully on-chain national economy, a plan first announced at the World Economic Forum in January.
Jane King with the latest from the NYSE.