1. Home
  2. Discover
  3. News
  4. Forbes

Forbes - The sincerest form of flattery 😳

Good Tuesday morning. This is Billy Bambrough, here with what's driving the day in the world of bitcoin and crypto.

🚨🚨 Austrian Programmer And Ex Crypto CEO Likely Stole $11 Billion Of Ether

📧 Thank you for reading CryptoCodex! I’d love to hear your feedback, ideas and tips. Email me directly at billy@billybambrough.com.
Was this newsletter forwarded to you? Sign up here! Got a crypto-curious friend? Forward Codex to them to help get them up-to-date and ahead of the market!
24-hour crypto market snapshot
Bitcoin (-1%) $37,504
Ethereum (-2%) $2,583
XRP (-9%) $0.701
Luna (+3%) $51.79
The ravages of war 🪖
The drums of war are beating in Eastern Europe and the reverberations are making investors around the world nervous. The combined crypto market has lost around $400 billion over the last week as traders bail out of high-risk assets and into old faithful—gold. Read the full story on Forbes.

The bitcoin price is now more-or-less flat on this time yesterday after falling as low as $36,300 per bitcoin overnight. Ethereum and other major cryptocurrencies are faring worse, with Ripple's XRP leading the crypto top ten lower, down almost 10%. Terra's luna is again breaking the mold, up 3%.

Now read this: Bitcoin could be laid low by miners' malady
When you make a purchase through links in this email, the author may earn a commission.
Unlock Forbes Premium Crypto Articles
Forbes CryptoAsset & Blockchain Advisor grants you unlimited access to in-depth reporting and analysis on the cryptoasset & blockchain landscape. Never hit another locked premium crypto article again and stay up-to-date with the latest opportunities.

For successful subscription, disable your adblocker
Get started for only $29
Crypto's derivatives offensive ⚔️
In 2017, the Cboe Global Markets exchange in Chicago became the first in the US to begin trading bitcoin futures
In 2017, the Cboe Global Markets exchange in Chicago became the first in the US to begin trading bitcoin futures Getty Images
On thin ice: Cryptocurrency companies are pushing into the highly regulated US derivatives market, according to a report in the Financial Times, as they hope crypto buyers turn to betting amid a price downturn and shore up revenues at a time when a new crypto winter threatens to put the flow of new money entering the market on ice.

Desperate times, desperate measures: When crypto prices begin to fall, those who bought at market highs take increasingly desperate steps to get their portfolio back into positive territory. Many that bought at the 2017 peak already took such risks—often with disastrous results.

By the numbers: Crypto derivatives volumes soared to almost $3 trillion last month, accounting for more than 60% of trading in cryptocurrencies, according to data provider CryptoCompare.

Can't beat 'em, buy 'em: "In the U.S., the crypto exchanges can’t offer leverage on spot crypto without being a regulated futures commission merchant,” Rosario Ingargiola, founder and chief executive of Bosonic, a crypto settlement service for institutional investors, told the FT. "It’s a big part of why you see larger crypto exchanges buying [Commodity Futures Trading Commission]-regulated platforms that allow offering of derivatives like options and futures to retail clients, because there is huge demand for leveraged products in the retail client segment." Just last month, major U.S. exchange Coinbase bought FairX, a small Chicago futures exchange, which it said would make the derivatives market "more approachable" through its "easy-to-use" app. Last year, Crypto.com dropped $216 million on two retail businesses from the U.K.'s IG Index; CBOE bought ErisX, a digital assets trading business; and FTX US bought derivatives platform LedgerX.

The bottom line: Crypto markets have always been closely linked with gambling culture, sharing terms and phrases (such as "whales" and "stack"), but the consumerization of the derivatives industry via crypto trading is likely to bring the two even closer together as new entrants to the crypto market try to maintain the giddy excitement of 2021's bull market.

Good to know: Crypto scammers' new target—Dating apps
Playing FTX's game 🎮
👾 Crypto exchange FTX, led by the billionaire Sam Bankman-Fried (SBF) is launching its own gaming unit to coax more game publishers to embrace cryptocurrencies, blockchain networks and non-fungible tokens (NFTs), it was first reported by Bloomberg.
- ICYMI: SBF explains how he built a $32 billion crypto exchange in just three years

🗣️ "We are launching FTX Gaming because we see games as an exciting use case for crypto," an FTX spokesperson told Bloomberg via email. "There are 2 billion+ gamers in the world who have played with and collected digital items, and can now also own them."

🤔 NFTs and cryptocurrencies have been considered by a number of gaming companies as a potentially lucrative new revenue stream but various games have been forced to cancel proposed NFT projects after fan backlash in recent months.

Good to know: Crypto companies are building a lobbying army to influence New York's rules
hello world
Billy Bambrough
Forbes Senior Contributor
I am a journalist with significant experience covering technology, finance, economics, and business. I write about how bitcoin, crypto and blockchain can change the world.
Follow me on Twitter or email me.
Forbes

You’ve received this email because you’ve opted in to receive Forbes newsletters.

Unsubscribe from CryptoCodex.

Or, manage your paid subscriptions on your Forbes profile here.

Manage Email Preferences | Privacy

Forbes Media | 499 Washington Blvd.

Jersey City, NJ 07130

Older messages

Russian Cybercrime Fuels US Gang War | Ukraine Under Threat | Surveillance Robot Apology

Monday, February 21, 2022

Plus: Wordle Is Tracking You, Here's How To Stop It ADVERTISEMENT Forbes | The Wiretap Over the last few months, I've been going through court documents and talking to police about a new trend

8 Of The Best Pressure Cookers For Fast And Flavorful Meals

Monday, February 21, 2022

Plus: 9 Highly Rated Beard Trimmers For All Your Grooming Needs All products and services featured are independently selected by Forbes Vetted contributors and editors. When you make a purchase through

Pirates sail the open seas 🏴‍☠️

Monday, February 21, 2022

CryptoCodex Forbes Billy Bambrough Forbes Senior Contributor Forbes Good Monday morning. Billy Bambrough here with the latest crypto news and what to watch for this week. 📧 Thank you for reading

Bitcoin Falls Below $40,000 | $100 Million Speeding Ticket

Saturday, February 19, 2022

Also: How Azukis Suddenly Became The World's Best-Selling NFT Collection Also: How Azukis Suddenly Became The World's Best-Selling NFT Collection View in browser CRYPTO GETS DEALT ANOTHER BLOW

Your 3 Day Weekend Just Got Better...

Saturday, February 19, 2022

Offer Ends Monday At 11:59PM Free US Shipping Use Code: FREESHIP2022 Shop Now Forbes Embroidered Logo Sweater Black crewneck sweater made with midnight fabric, with white embroidered logo at front. $60

You Might Also Like

What A Day: It ain't easy being Greenland

Friday, January 10, 2025

A Greenlandic politician reacts to Trump's threats: “The most crazy thing.” ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Heavily funded Pandion delivery startup closes abruptly in latest logistics industry fallout

Friday, January 10, 2025

Breaking News from GeekWire GeekWire.com | View in browser Pandion, a Bellevue-based delivery startup launched by a former Amazon Air leader during the pandemic-fueled e-commerce boom, informed

The end of the live streamer mega deals

Friday, January 10, 2025

PLUS: Podcasts are still undervalued ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

TikTok’s Messiest Future Might Be Its Most Likely

Friday, January 10, 2025

January 10, 2025 SCREEN TIME TikTok's Messiest Future Might Be Its Most Likely It's looking like the ban is going to happen, and probably right before Donald Trump once again takes office. By

Friday Sales: Chunky Asics and Winter Skin-Care

Friday, January 10, 2025

And plenty of discounted jeans, too. The Strategist Every product is independently selected by editors. If you buy something through our links, New York may earn an affiliate commission. January 10,

LEVER TIME: The L.A. Fires And The Uninsurable Earth (Part 1)

Friday, January 10, 2025

The urban inferno is a warning about America's future — if we do not combat the climate crisis and adapt to its threats. The Los Angeles fires pose huge questions about the future of life in

Bummed Out Bobcats, 1 Million Pushups, and a Zoo’s Festive Feast

Friday, January 10, 2025

Two Kansas linemen braved subzero wind chills to rescue a mother bobcat and her kitten that were frozen to a power pole during Sunday's severe winter storm. ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌

Flame Wars

Friday, January 10, 2025

Don't Fight Fire with Fire, Weekend Whats ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Dancing vacuums, AI dogs, and more from CES

Friday, January 10, 2025

Beep boop View in browser Ad The Recommendation January 10, 2025 Ad The many robots of CES Brittney Ho/NYT Wirecutter Author Headshot By Brittney Ho Brittney is a newsletters editor at Wirecutter. I,

California wildfire must-reads from our climate editor

Friday, January 10, 2025

Trump's hate for this tiny fish, what happens when a wildfire reaches a city, and more. Each week, a different Vox editor curates their favorite work that Vox has published across text, audio, and