Arthur Hayes will be sentenced for violation of the U.S. Bank Secrecy Act on Friday.
The past 24 hours were among of the biggest crypto market drops in recent months.
Some 58% of LUNA traders were betting on higher prices even as the tokens fell yesterday.
The exchange-traded fund issuer had withdrawn its application late last year.
The exchange-traded fund will start trading on March 30 under the ticker WEB311.
Global markets faltered as Russia started a "special military operation" in Ukraine, causing a drastic drop in crypto markets.
The drop in prices kicked off certain trading strategies.
Futures spread trading is considered less risky compared with futures contracts but there are still risks.
Bitcoin cae a mínimo de seis meses mientras futuros de la bolsa estadounidense borran ganancias iniciales
Tanto bitcoin como ether cayeron a sus niveles más bajos desde julio, después de que Goldman Sachs predijera que la Fed endurecería las tasas a un ritmo más rápido.
Futures markets remain a powder keg for short-term volatility, one observer said.