CF Benchmarks has introduced the Bitcoin Volatility Index, enabling the monitoring and trading of Bitcoin price movements projected 30 days into the future.

Research on CF Benchmarks and Real-Time Bitcoin Monitoring

The Bitcoin Volatility Index by CF Benchmarks serves two functions. It could be a store of risk management or a settlement mechanism for multiple products, thereby enabling market participants to trade on volatility.

All CF Benchmarks are compliant with UK BMR regulations, and this includes also the Bitcoin Volatility Index. It is obtained through a comprehensive approach. This ensures that “products that are benchmarked against it are able to faithfully follow the underlying asset and are not influenced by price fluctuations created by the bad data.” The introduction of new indices, the CF Bitcoin Volatility Real Time Index (BVX) and the CF Bitcoin Volatility Index Settlement Rate (BVXS), is noteworthy.

These indices aggregate volatility information from Bitcoin options contracts on the Chicago Mercantile Exchange (CME) in one number, which is expected to be an effective measure of market volatility and uncertainty.

The BVX index is constantly alive, providing volatility in real time. Conversely, the BVXS index provides a daily settlement rate derived from a 30-minute analysis of BVX data from 15:30 to 16:00 London time. In this regard, Sui Chung, the CEO of CF Benchmarks, shared the significance of volatility indices for the financial landscape, emphasizing that the indices are used as a tool to measure investor sentiments and risk appetite.

He stressed that CF Benchmarks is the leading cryptocurrency index provider by AuR and that the Bitcoin Volatility Index will be the go-to resource for comprehending bitcoin price swings, similar to BRR serving as the industry’s standard fruit for bitcoin spot price.

Benchmarks and pricing indicators are pivotal in promoting the maturity of digital assets, including Bitcoin. The approval of the United States Securities and Exchange Commission (SEC) spot Bitcoin ETF is the most notable cryptocurrency offering that has indeed represented the Bitcoin price during the last three months. The increasing hype around this new product further pushed the value of Bitcoin to new levels, with the digital currency reaching an all-time high of over $73,000.

Overall, the interest of the world investors in Bitcoin is rising. This wave of popularity and approval is expected to result in the creation and implementation of more significant indices in the near future.

Sam Bankman-Fried, founder of FTX, has filed an appeal against his conviction and sentence for fraud and conspiracy charges hours before the the deadline to do so.

Bankman-Fried’s move comes amidst the recent surge in FTT, FTX’s native token, which increased by 15%.

Appeals and Market Reaction

SBF’s legal battle began last November when he was convicted on seven counts, including defrauding FTX customers and investors in Alameda Research. Following a month-long trial, the conviction highlighted the collapse of his companies, which had filed for bankruptcy the year before.

Earlier this month, Bankman-Fried was sentenced to 25 years in federal prison, three years of supervised release, and a $11 billion forfeiture. Prosecutors referred to the case as one of the largest financial frauds in history.

A three-judge panel of the 2nd Circuit U.S. Court of Appeals in Manhattan will now review the appeal. However, the odds are stacked against Bankman-Fried in this endeavor.

Statistics reveal that federal criminal defendants have a less than 10% success rate in overturning their convictions through appeals. Should the appeal fail at the 2nd Circuit, Bankman-Fried’s last resort would be petitioning the U.S. Supreme Court.

Meanwhile, amidst the legal drama surrounding FTX’s founder, the cryptocurrency market has responded, with the FTT price surging by 15% to $1.82 following news of the appeal. At the time of writing, FTT is trading at $1.71, a 4% increase in the past 24 hours.

Concern Over SBF’s Future Conduct

During Sam Bankman-Fried’s sentencing, Judge Lewis Kaplan expressed concern about the potential for him to commit further wrongdoing in the future, stating that he had not shown any remorse for his crimes.

Kaplan characterized Bankman-Fried’s altruistic behavior as insincere, referring to it as an “act.” Despite the sentence being less than what prosecutors sought but more than what Bankman-Fried’s legal team proposed, Kaplan deemed it necessary to prevent similar crimes from occurring in the future.

Bankman-Fried, who has autism, was ordered to be sent to a low or medium-security prison near his parents in Northern California due to the risks associated with his condition. However, he has requested to be housed in the Manhattan Detention Center during his appeal process.

Bankman-Fried’s previous associates and co-conspirators, a few of whom cooperated as witnesses during the trial, have yet to receive their sentences for their fraudulent activities.

Bankman-Fried was apprehended in the Bahamas in November 2022 following the bankruptcy filings of FTX and Alameda. Federal prosecutors have charged him with deliberately misappropriating funds from customers and investors and misleading them about their intended use.

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