News summarizing the blockchain & cryptocurrency market – April 19

Coinbase opens dogwifhat (WIF) futures trading to users outside the US

Coinbase has opened futures trading for the Dogwifhat (WIF) cryptocurrency to users outside the US. This news caused the price of WIF to increase by more than 20% from 2.25 USD to 2.71 USD. However, the price dropped sharply later due to the negative volatility of Bitcoin, especially after news of Israel launching missiles to Iran. Coinbase planned to open futures trading for memecoin Pepe (PEPE), but postponed it. In September last year, Coinbase was licensed to offer trading in crypto financial derivatives to customers in certain jurisdictions outside the US. Coinbase remains certified by the National Futures Association to open futures trading to a larger customer base through Coinbase Advanced. This expansion is in line with the significant growth of the crypto financial derivatives market in recent times.

Mango Markets attacker convicted of fraud and manipulation

Mango Markets attacker Avraham Eisenberg was convicted of fraud and market manipulation. During the two-week trial, Eisenberg's attorney attempted to defend his client's conduct as legal and compliant. However, the judge and jury did not agree with this argument and found evidence of manipulation and fraud. Avraham Eisenberg used this trick to appropriate assets on Mango Markets and is not responsible. The prosecution also presented information proving the attacker's awareness of the violation. The trial will take place on July 29 and Eisenberg faces a prison sentence of up to 20 years. This is one of the cryptocurrency-related cases that has recently attracted public attention.

Chia Network achieved new progress for its IPO plan

Chia Network, a project founded by Bram Cohen, creator of the BitTorrent file sharing technology, has reached a new step in its IPO plans. The project's CEO has confirmed that Chia Network has filed an S-1 form with the US Securities Commission (SEC), and is currently waiting for the right time to conduct an IPO. The project has experienced difficulties, including partial layoffs and the collapse of its banking partner. Chia Network uses a Proof-of-Space and Proof-of-Time consensus mechanism that is different from Bitcoin and Ethereum. In the future, the project is also planning to deploy a bridge for Circle's USDC stablecoin and other infrastructure projects. Chia's XCH token price has decreased by nearly 100% over the project's lifetime.