New commodity options let traders gain exposure to gold and silver prices through Binance’s Abu Dhabi-regulated exchange. Binance will launch USDT-settled options on gold and silver through its Abu Dhabi-regulated exchange, expanding its lineup of traditional financial products alongside cryptocurrencies. The contracts will be listed through Nest Exchange Limited, Binance’s Abu Dhabi Global Market-regulated Recognized Investment Exchange (ADGM). The options allow traders to gain exposure to movements in gold and silver prices without taking delivery of the underlying metals. Retail users will only be able to buy options, while eligible institutional users and liquidity providers can also write contracts. According to Binance, restricting retail users to buying options limits downside risk to the premium paid, while eligible institutional participants can write options to collect premiums. Read more
Bitcoin traders weathered an oil-price surge and ongoing Asia chip-stock sell-off into the Federal Reserve interest-rate decision. Bitcoin (BTC) whipsawed around $64,000 on Wednesday as geopolitical and macroeconomic tensions pressured US stocks. Key points: Data from TradingView showed BTC/USD halting a local rebound at the Wall Street open, having hit 11-day lows of $62,700 the day prior. Read more
MoonPay’s PayBox vault lets ChatGPT and Claude users authorize crypto purchases, token swaps and crosschain transactions while retaining custody of their assets. MoonPay has launched PayBox, a payment vault that lets ChatGPT and Claude users authorize AI to buy crypto, swap tokens and bridge assets from within a conversation while keeping control of their funds. Users connect a crypto wallet and payment methods to ChatGPT or Claude, which prepare transactions such as token swaps, crosschain transfers and DeFi interactions using natural-language prompts. Users can approve each transaction with a passkey or set spending limits that allow the AI to execute certain actions automatically, according to MoonPay. MoonPay said PayBox uses multi-party computation and trusted execution environments to protect wallet keys, preventing either the AI assistant or MoonPay from independently accessing user funds. The platform also lets users require approval for every transaction or allow AI to act autonomously within predefi...
Seoul’s historic two-day crash and widening hyperscaler credit spreads suggest the AI trade’s leverage is starting to bite — in equities and in bonds. Key points: Korean equities saw the second day of a historic sell-off on Wednesday with market-wide circuit breakers again halting trading. Combined with Tuesday’s drop, the KOSPI has now shed nearly 17%, wiping out $620 billion in market capitalization. This has prompted the government to convene an emergency meeting of its financial authorities. The initial trigger for the sell-off was SK Hynix’s Q2 earnings miss. The stock was down another 4% today, extending Tuesday’s 15% drop. Taken together with Samsung Electronics, the company makes up nearly half of the Korean index. Read more