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Bitcoin News Roundup for Aug. 24, 2020
With Turkey getting bullish on bitcoin and BitMex blocking users in part of Canada, CoinDesk's Markets Daily is back for your latest crypto news roundup!
Updated Sep 14, 2021, 9:47 a.m. Published Aug 24, 2020, 4:00 p.m.
With Turkey getting bullish on bitcoin and BitMex blocking users in part of Canada, CoinDesk's Markets Daily is back for your latest crypto news roundup!
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This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
Today's Stories:
Leveraged Funds Take Record Bearish Positions in Bitcoin Futures
The funds likely boosted short positions to take advantage of attractive "cash and carry" yields.
First Mover: Anything-Goes Token Market Repudiates Rich-Only Venture Capital Club
Venture capital is no longer just for the rich, as crypto markets let traders bet on early-stage digital-asset startups, risks included.
Istanbul or 'Coinstantinople'? Inside Turkey's Bitcoin Bull Market
The relationship between economic crisis and crypto exchange activity in Turkey appears to have changed, with bitcoin coming out on the winning end.
Crypto Derivatives Exchange BitMEX to Block Ontario Traders
The veteran cryptocurrency derivatives exchange is to block users in Ontario, apparently at the behest of the local securities regulator.
For early access before our regular noon Eastern time releases , subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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SGX's Crypto Futures Draw New Liquidity, Not Diverted Cash, Exchange Boss Says
Institutions are pursuing cash-and-carry arbitrage, not outright bullish plays, Syn said.
What to know:
- SGX's bitcoin and ether perpetual futures are building liquidity incrementally, Michael Syn, president of the Singapore exchange, said.
- Institutions are pursuing cash-and-carry arbitrage, not outright bullish plays, he added.
- The exchange's regulated perpetual futures offer improved risk-management practices, avoiding the high-leverage auto-liquidations common in unregulated markets.
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