The Decentralized AI Society and CETI AI are joining forces on an initiative that will see DAIS run a masternode of Hypercycle, the artificial intelligence infrastructure platform focused on developing nodes that power the internet of AI. In an announcement,…

Decentralized AI Society to run Hypercycle masternode

On Thursday, bitcoin’s price jumped to $102,819, hitting a peak not seen since 
Feb. 3, and plenty of analysts point to a growing wave of institutional 
involvement as the driving force behind the climb. Wall Street’s Growing 
Appetite Sends Bitcoin Soaring Past $102K The institutions are here in full 
force, or so the chatter goes, […]

Bitcoin’s Latest Climb to $102,800 Fueled by Rush of Institutional Activity, Experts Say

SEC and Ripple seek court approval for a $50M settlement and injunction lift, 
ending their multi-year legal battle.
The post SEC reaches settlement with Ripple, ending case with $50 million deal 
appeared first on Crypto Briefing.

SEC reaches settlement with Ripple, ending case with $50 million deal

Wellgistics Health, a healthcare infrastructure company, will integrate XRP 
(XRP) and related technologies into its payment network to streamline 
transactions between pharmacies, medical suppliers and prescription medication 
manufacturers, the company said in an announcement on May 8.
Wellgistics cited the finality time of XRP transactions and reduced 
transaction costs, which are fractions of a penny, compared to legacy 
financial architecture like automated clearinghouse (ACH) payments or wire 
transfers, as reasons for using XRP. Brian Norton, CEO of Wellgistics Health, 
said in the announcement:
&gt; &#8220;I believe that the future winners in healthcare will not be the companies 
&gt; with the biggest buildings, they will be those with the fastest rails, 
&gt; cleanest data, and most efficient platforms. We are betting on 
&gt; infrastructure &#8212; not inertia.&#8221;
The integration of XRP will reduce cross-border friction and allow 
transactions between different businesses in the supply chain to settle 
instantly, in real time, the announcement reads.
Blockchain payment rails and cryptocurrencies can significantly reduce 
international transaction costs, giving rise to business opportunities that 
were previously out of reach or too expensive to implement and opening up 
global trade for residents in developing economies.
_**Related:**__**Can XRP price reach $4 in May? Analysts are watching these 
key levels**_
## Legacy banking system pushes back against crypto innovation
Cryptocurrencies like Bitcoin (BTC) disintermediate banks and financial 
institutions by providing peer-to-peer transactions over a trustless network 
of decentralized nodes that are censorship-resistant and give the holder self- 
sovereignty over their money.
Other cryptocurrencies like stablecoins and altcoins still feature a third- 
party issuer, but have the benefit of trading on blockchain payment rails, 
through the internet, without markets closing.
Banks and legacy financial institutions pushed back against the GENIUS 
stablecoin bill in March 2025, arguing that stablecoins would erode the 
banking industry&#8217;s market share of financial services and eventually drive out 
banks altogether.
US Senator Elizabeth Warren also fought to include several provisions in the 
bill that would force any stablecoin firm that wants to do business in the 
United States to issue their stablecoin with the oversight of an established 
financial institution.
The bill, hailed as a bipartisan success, failed to advance to a floor vote on 
May 8 after pushback from Democratic senators.
_**Magazine:**__**ZK-proofs are bringing smart contracts to Bitcoin &#8212; 
BitcoinOS and Starknet**_

Wellgistics Health to integrate XRP into payment infrastructure

Coinbase&#8217;s agreement to buy Deribit highlights the increasing importance of 
financial derivatives for cryptocurrency exchanges, according to industry 
executives.
On May 8, Coinbase, the US&#8217;s largest crypto exchange by trading volume, agreed 
to acquire crypto derivatives platform Deribit for $2.9 billion in the crypto 
industry&#8217;s largest corporate acquisition to date. 
The deal reflects increasing competition among digital asset exchanges and 
brokerages &#8212; including Coinbase, Kraken and Robinhood &#8212; to dominate the 
burgeoning crypto derivatives market.
&#8220;Global derivatives trading is a key driver of growth for Coinbase,&#8221; Spencer 
Yang, co-founder of Fractal Bitcoin, a Bitcoin scaling solution, told 
Cointelegraph.
_Coinbase agreed to buy Deribit on May 8. Source:__Coinbase_
The merger established Coinbase as the world&#8217;s largest crypto derivatives 
platform by open interest, the exchange said in a blog post announcing the 
deal.
In a May 8 X post, Jeff Park, Bitwise&#8217;s head of alpha strategies, said 
Coinbase&#8217;s Deribit acquisition &#8220;might be the best &#8216;value&#8217; deal in crypto I&#8217;ve 
ever seen,&#8221; adding the the deal is &#8220;a coup for Coinbase.&#8221;
In March, US crypto exchange Kraken agreed to buy NinjaTrader, a futures 
brokerage, for $1.5 billion.
_Coinbase &#8216;s international derivatives exchange saw some $10 billion in 
trading volume on May 8. Source: __Coinbase_
 _**Related:**__**Coinbase to acquire options trading platform Deribit for 
$2.9B**_
## Expanding global footprint
Coinbase already has a global presence in perpetual futures, with roughly $10 
billion in daily trading volume as of May 8. It also has a US-based 
derivatives trading platform listing more than 20 futures contracts.
Deribit is the largest crypto options exchange, with about $30 trillion in 
open interest, according to the blog post.
With this acquisition, Coinbase &#8220;has captured all possible regulated and self- 
regulated derivatives products,&#8221; Yang added.
It also bolstered Coinbase&#8217;s presence in the global market, which is still 
dominated by Binance, the world&#8217;s largest crypto exchange by volume. Deribit 
does not serve US-based traders, according to its website.
&#8220;Deribit is the platform of choice for global traders for Bitcoin and Ethereum 
options,&#8221; Yang said.
Futures contracts are standardized agreements to buy or sell an underlying 
asset at a future date, often using leverage in a bid to enhance returns.
Options are contracts granting the right to buy or sell &#8212; &#8220;call&#8221; or &#8220;put,&#8221; in 
trader parlance &#8212; an underlying asset at a certain price.
_**Magazine: **__**Crypto wanted to overthrow banks, now it &#8216;s becoming them 
in stablecoin fight**_

Coinbase's Deribit buy shows growing derivatives market

**Key takeaways:**
 * 97% of the $8.3 billion in Bitcoin put options expire worthless at a $102,000 BTC price.
 * Short covering above $105,000 could trigger a Bitcoin price rally to new highs.
Bitcoin (BTC) soared above $101,000 on May 8, reaching its highest level in 
over three months. The 4.6% daily BTC price gain triggered $205 million in 
liquidations of bearish futures positions and eroded the value of nearly every 
put (sell) option. Traders now question whether Bitcoin is poised to break its 
$109,354 all-time high in the near term.
_Bitcoin put (sell) options open interest for May-June-July, USD notional. 
Source: Laevitas.ch_
The aggregate Bitcoin put (sell) option open interest for the next three 
months stands at $8.3 billion, but 97% of those have been placed below 
$101,000 and will likely expire worthless. Still, this does not mean every put 
options trader was betting on Bitcoin&#8217;s downside, as some may have sold those 
instruments and profited from the price gains.
_Top BTC option strategies at Deribit past two weeks. Source: Laevitas.ch_
Among the largest option strategies traded at Deribit is the &#8220;bull put 
spread,&#8221; which involves selling a put option while simultaneously buying 
another put at a lower strike price, capping both maximum profit and downside 
risk. For example, a trader aiming to profit from higher prices might sell the 
$100,000 put and buy the $95,000 put.
_Bull put spread profit/loss. Source: Strike-Money_
Cryptocurrency traders are known for their exaggerated optimism, and this is 
reflected in the leading strategies on Deribit&#8217;s options markets, such as the 
&#8220;bull call spread&#8221; and the &#8220;bull diagonal spread.&#8221; In both cases, traders 
anticipate Bitcoin prices at expiry to be equal to or higher than the options 
traded.
## $100,000 Bitcoin boosts bullish options, but shorts may resist
If Bitcoin sustains the $100,000 level, most bullish strategies will yield 
positive results in the May and June options expiries, giving traders 
additional incentives to support upward momentum. However, there is the 
possibility that sellers (shorts) using futures markets will exert their 
influence to prevent a new Bitcoin all-time high.
_**Related:**__**Coinbase to acquire options trading platform Deribit for 
$2.9B**_
The aggregate open interest on Bitcoin futures currently stands at $69 
billion, indicating substantial demand for short (sell) positions. At the same 
time, higher prices might force bears to close their positions. However, this 
&#8220;short covering&#8221; effect is significantly muted in fully hedged positions, 
meaning those traders are not particularly sensitive to Bitcoin price 
movements.
For instance, one could buy spot Bitcoin positions using margin or spot 
exchange-traded funds (ETFs) while simultaneously selling the equivalent in 
BTC futures. Known as the &#8220;carry trade,&#8221; this strategy is delta neutral, so 
the profit comes regardless of price swings, as the monthly Bitcoin futures 
trade at a premium to compensate for the longer settlement period.
_Bitcoin 2-month futures annualized premium. Source: laevitas.ch_
The Bitcoin futures premium has been below 8% for the past three months, so 
the incentives for the &#8220;carry trade&#8221; have been limited. Hence, it is likely 
that some form of &#8220;short covering&#8221; will occur if Bitcoin surges above 
$105,000, which greatly improves the odds of a new all-time high over the next 
couple of months.
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.