Coinbase Receives Approval for Crypto Futures, Binance Shutters Payments Product

Market Update Traditional equity indices are continuing this week's decline, with the $SPY and $QQQ both down over 0.40%. The minutes from the last FOMC meeting are to be released at 2:00 PM EST today, which should shed some light on what the Fed thinks about inflation and the likelihood of another rate hike in September. The market is currently pricing the probability of a September hike at 11.5%. $BTC (-0.43%) and $ETH (-0.42%) are declining with equities today while most altcoins are seeing much larger drawdowns. $SHIB has been one of the better performers in August, rising 14%, as the launch of layer-2 solution Shibarium has been teased to launch this month and potentially today. A keynote speech titled “Shibarium & The End Game” is scheduled for 5:30 PM today at the Blockchain Futurist Conference.Coinbase has received regulatory approval from the National Futures Association (NFA) to operate a Futures Commission Merchant (FCM) and offer its customers access to crypto futures products. Crypto futures enable users to leverage capital and express long and short positions. These are essential aspects for crypto traders and investors, which is evident in crypto derivatives representing approximately 75% of all global trading volume. Coinbase originally applied with the NF