Crypto derivatives exchange BitMEX has confirmed that it will end trading of XRP, ADA, ETH, and BTC futures contracts earlier than initially planned as it prepares for a full platform shutdown on Sept. 23.
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AAPLBitMEX accelerates futures delisting and prepares to close
BitMEX, formerly a dominant player in cryptocurrency derivatives, has announced it will delist its XRP (XRPU26), ADA, ETH, and XBT futures on Aug. 10 at 12:00 p.m. UTC. This date is nearly three weeks earlier than the original timeline, as the exchange moves toward an operational wind-down.
The decision is tied directly to BitMEX’s complete closure set for Sept. 23. To manage fair settlements for users affected by the accelerated delisting, the platform will use adjusted indexes with final rates determined by time-weighted average prices (TWAP) as of Aug. 6.
Users are advised to close their open positions in XRP and other impacted assets before Aug. 10, or wait for automatic settlements based on the Aug. 6 closing rate. From Aug. 26, BitMEX will enter a close-only mode, barring the opening of any new positions.
Finally, on Sept. 23, BitMEX will permanently shut down its servers. Any remaining account balances will be subject to a custody fee.
BitMEX will delist futures on XRP, ADA, ETH, and XBT three weeks ahead of its final closure, with settlements based on time-weighted average prices determined on Aug. 6.
BitMEX is a cryptocurrency exchange known for pioneering leveraged trading of digital assets. Initially established in 2014, its innovative contracts attracted significant trading volumes, though regulatory scrutiny and increased competition have contributed to a steady decline.
Mini dictionary: Time-Weighted Average Price (TWAP), a trading algorithm that averages the price of an asset over a specified period, helping reduce the impact of volatility and large trades on settlements.
Coinbase launches commission-free US stock trading in the UK
Coinbase, one of the largest US-based cryptocurrency exchanges, has expanded its services to include commission-free trading of US stocks for customers in the United Kingdom. The move aligns with CEO Brian Armstrong’s vision of turning Coinbase into an “Everything Exchange” that integrates both digital assets and traditional securities.
UK users can now purchase fractional shares of major US companies, including Google and Microsoft, directly through the Coinbase app. The new stock trading option allows minimum investments of just £1 and operates commission-free on a 24/5 schedule, resembling the trading experience familiar to crypto investors.
Keith Grose, CEO of Coinbase UK, stated that receiving regulatory approval in advance helped accelerate the rollout. The initiative aims to reach British investors, who traditionally engage less in the equity markets than their counterparts in the US.
Fractional US stock trades from just £1 are now available on Coinbase UK, giving crypto traders expanded access to traditional markets within a single app.
This new feature complements other offerings like savings accounts and crypto-backed loans already available for Coinbase users in the UK. As of now, Coinbase shares are trading on Nasdaq near $149.89, reflecting a modest daily drop of 0.56%. The company’s market capitalization is approximately $39.55 billion.
| Feature | Coinbase UK | Traditional Stock Broker (UK) |
|---|---|---|
| Stock trading platform | Coinbase app | Proprietary platforms |
| Minimum investment | £1 | Typically £50–100 |
| Commission | None | Often £5–12 per trade |
| Trading hours | 24/5 | Regular US market hours |
Michael Saylor credits ChatGPT AI for $15 billion Bitcoin purchase strategy
MicroStrategy founder and executive chairman Michael Saylor has attributed the firm’s innovative capital-raising approach, which underpinned roughly $15 billion in Bitcoin acquisitions, to strategies developed using ChatGPT, OpenAI’s artificial intelligence assistant.
In his appearance on The Diary of a CEO podcast, Saylor explained that ChatGPT guided the creation of a new financial structure for raising capital that had not previously existed in the market.
Saylor believes that the integration of artificial intelligence with digital asset strategies opens up expansive opportunities, especially as AI begins to automate professions such as law, accounting, and transportation. He suggested that entrepreneurial advantage will go to those quick to leverage new technologies.
“The role of humans is shifting to generating innovative ideas,” Saylor said, “while the synergy between AI and digital assets represents the next frontier.”
Despite advancing automation, Saylor stated that money will retain its importance. He considers scarce assets and capital to remain highly valuable even as goods and services become cheaper through automation.
In addition, Saylor predicted that Bitcoin would outperform the S&P 500 index by 1.5 to two times over the next 20 years.
He also commented on MicroStrategy’s recent partial Bitcoin sale, describing it as a controlled test to demonstrate that divesting a portion of the company’s crypto holdings would not destabilize the asset price or the firm’s financial position.
Crypto market outlook: Bitcoin in wedge and Ethereum’s EIP-8361 controversy
By the start of August, Bitcoin was trading within a descending wedge pattern, holding above multi-year support levels. Analysts noted that external macroeconomic factors, such as interventions in currency markets, had not triggered major outflows from crypto thanks to ongoing inflows into spot Bitcoin ETFs.
Spot Bitcoin exchange-traded funds recorded a third consecutive trading day of net inflows, with $244.4 million entering the market. BlackRock’s IBIT fund led with $196.8 million in inflows, while VanEck’s HODL saw a $14.7 million outflow.
| ETF Name | Net Inflow | Net Outflow |
|---|---|---|
| IBIT (BlackRock) | $196.8 million | — |
| HODL (VanEck) | — | $14.7 million |
| Total (All spot Bitcoin ETFs) | $244.4 million (daily) | — |
Japanese authorities reportedly spent $87 billion to $93 billion on currency interventions, and the US added between $5 billion and $10 billion. Despite this, trading activity remains stable, and there is little evidence of widespread risk-off moves impacting crypto or equities.
Meanwhile, Ethereum‘s latest technical proposal, EIP-8361, is causing division in the decentralized finance sector. The proposal, submitted by Jérôme de Tychey, seeks to cap staking rewards if more than 50% of all ETH is staked. The existing staked share is 34.4%.
Aave founder Stani Kulechov warned that implementing EIP-8361 could make yield projections unpredictable for solo stakers and DeFi protocols. Supporters, by contrast, believe limiting rewards would increase ETH scarcity. The debate has brought increased attention to Ethereum’s evolving monetary policy and its potential impact on decentralized finance.
Mini dictionary: EIP-8361, an Ethereum Improvement Proposal, suggests adjusting staking rewards if more than half of the total ETH supply is staked, aiming to protect network security and maintain economic balance.
