Bitcoin ends November with the biggest price drop this year. The value of the cryptocurrency decreased by about 20% compared to the value recorded at the beginning of the month.
Analysts expected November to be a positive one for Bitcoin, as there are only six months left until the half-block reward is halfway through. Historically, cryptocurrency prices rose before this event.
Binance launches ETH / USDT futures contracts
The Binance Exchange announced the launch of ETH / USDT futures contracts, with a maximum leverage of 50x. In October, the platform offered BTC / USDT contracts with a maximum leverage of 125x. The volume of these contracts reached over 370,000 BTC (about $ 2.7 billion).
The success of the futures has led the company to offer the option of ETH contracts, currently available on the desktop version of the site. In the near future, they will also be available on mobile applications.
The Bank of Russia supports the ban on cryptocurrencies, but the measure is difficult to implement
The chairman of the Committee on Financial Markets in the State Duma (Russian Parliament), Anatoly Aksakov, argues that banning cryptocurrencies is very difficult to implement. The central bank of Russia has supported the ban on their use in the country.
Aksakov pointed out that, in practice, it is very difficult to define cryptocurrencies legally:
“Money substitutes are banned in Russia. To date, there is still no clear definition of cryptocurrencies as a substitute for money. The ruble is the only official means of payment, but other currencies are used. Therefore, all these issues require a legal definition so that law enforcement agencies can carry out their activity. It is one of the reasons that prevented the approval of the law on digital goods. It is hard to agree on a definition ”.
CEO Bakkt could be named in the US Senate
Kelly Loeffler, CEO of Bakkt, could be nominated for the US Senate as a representative of the state of Georgia. Apparently, his nomination is not supported by President Trump, who considers Loeffler too moderate in his political positions.
The governor of Georgia has proposed Loeffler to expand the number of women in the Senate from the Republican Party. Also, its significant personal wealth was taken into account, which could be used to finance the 2020 election campaign.
President Turmp, however, seems to prefer Doug Collins, who is a vocal supporter of the right to own arms and the ban on abortion.
Meanwhile, the activity of institutional investors on the Bakkt platform is increasing. The number of physically liquidated Bitcoin futures contracts reached $ 42.5 million on November 28.
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