Premium On Bitcoin CME Futures Surges To Almost 13% – October 6

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $50,501

Bitcoin price blasted past the $51,000 mark over the last 24 hours of trading, falling back now to the $50,000s to begin the day .

Top-20 altcoins are mostly down as Ethereum falls 2%, Cardano drops 5%, but Shiba Inu makes a monster run into the top-20 with a 63% rally.

Top Stories for October 6, 2021 πŸ”₯

πŸ‘‰ Premium On Bitcoin CME Futures Surges To Almost 13%

Bitcoin futures contracts on the Chicago Mercantile Exchange (CME) are trading at an annualized premium of 12.8% to spot prices, indicating high demand from institutions.

The premium is the highest seen on CME futures since April of this year, with some analysts suspecting that a possible Bitcoin exchange-traded fund (ETF) may be on the horizon.

πŸ‘‰ SEC Chairman Says He Can’t Ban Crypto, But Congress Could

Securities and Exchange Commission (SEC) chairman Gary Gensler has confirmed that the SEC doesn’t have the authority – nor the intention – to ban cryptocurrency.

Gensler made the clarification in a House Committee on Financial Services hearing this week, however added that Congress could do so.

πŸ‘‰ India’s CoinSwitch Kuber Lands $260M In Series C Funding

Indian cryptocurrency exchange CoinSwitch Kuber has successfully raised $260 million in a Series C funding round, valuing the company at $1.9 billion.

Key investors in the round included a16z, Coinbase Ventures, Paradigm and Ribbit Capital. The investment marked a16z’s first in India, with the company expressing its excitement in the Indian crypto market.