🗞 Daily Crypto News, March, 2nd 💰

Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

🗞 Bitcoin Options Traders Are Taking Bullish Bets on $75K and Higher By Summer

Institutional traders look to be positioning for a bitcoin price rally to $75,000 and beyond in coming months, according to options market data.

“On Monday, some block traders took bull call spreads at $75,000 and $100,000 strike call options expiring on May 28 via over-the-counter (OTC) trading and settlement desk Paradigm,” Swiss-based options analytics platform Laevitas told CoinDesk. “These could be institutions betting that bitcoin will hit at least $75,000 by summer.”

A call option gives the holder the right but not the obligation to buy the underlying asset at a predetermined price on or before a specific date. A bull call spread involves buying call options at/below or above the spot market price and selling an equal number of calls with the same expiry at a higher strike price.

Institutions tend to trade through OTC desks to avoid influencing spot market prices. Trades facilitated by Paradigm are automatically executed, margined and cleared at Deribit, the world’s largest crypto options exchange by trading volume.

🗞 Crypto Derivatives Platform FTX Now Supports Deposits via PayPal

Customers of the cryptocurrency derivatives platform FTX can now use PayPal to top up their trading accounts.

FTX CEO Sam Bankman-Fried tweeted Tuesday that users can get "instant" payments to their accounts if they use the PayPal option.

Most currencies are supported by the payments giant, and credit card payments can also be made through PayPal, Bankman-Fried said.

He cautioned that, due to PayPal's fees, larger payments would be cheaper for users if sent to accounts with bank wires.

🗞 Moneygram Hit With Class Action Lawsuit Over Ripple Partnership

MoneyGram has been sued over allegedly false statements regarding its partnership with Ripple.

The lawsuit asserts the company misled its investors about the legal status of the XRP token.

MoneyGram International has been sued over false statements the company allegedly made regarding its partnership with fintech company Ripple Labs that involved the XRP token.

The class action lawsuit was filed on March 1 by Rosen Law Firm on behalf of MoneyGram’s investors who purchased shares in the company between June 17, 2019, and February 22, 2021.

The New York-based firm asserts that MoneyGram misled the investors about its partnership with Ripple and the legal status of the XRP token.

🗞 Why Vitalik Buterin is Known as the 'V God' in China

In China, Vitalik Buterin is known as V神—the V God.

Like most nicknames, this one, for Ethereum’s co-founder, is meant to be somewhat amusing. But, again, like most nicknames, the name conveys the reverence many show the 27-year-old. China has a huge and vital community of Ethereum developers and investors. But beneath that, people there take some pride in the fact that the Chinese crypto community rallied behind the platform, and its boy godhead, in its earliest days when it was most needed.

On Sunday, Buterin was in China virtually if not in the holy flesh, doing one of his popular Zoom Q&As. The AMA was organized by Dr. Bin Lu, the founder of the crypto media platform Bihu, and one of the earliest Ethereum supporters in China.

The Long March

Buterin is an old friend of the Chinese crypto community. Since 2014, he’s been a frequent visitor, spending months in Shanghai, picking up the Chinese language and legendarily karaoking with crypto VCs and developers.

🗞 Daily Crypto Calendar, March, 2nd💰

PAID Network (PAID)

"We are proud to announce @shadows_defi IDO on Ignition starts on March 2nd, 2021, 2PM GMT."

Reddcoin (RDD)

Bitmart is listing ReddCoin and going live on 2021-03-02.

DAO Maker (DAO)

"$DAO token will be listed on @c0insbit"

Pundi X (NPXS)

"... The exclusive #XPOS Handy+#XPASS flash sale will end at 23:59:59 EST on Mar 2 2021."

Aavegotchi (GHST)

"Aavegotchi Confirms March 2 Launch Date"

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