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US CFTC Moves to Block Kalshi from Reversing Trades as Ordered by Michigan Court

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The U.S. Commodity Futures Trading Commission threw itself between Michigan courts and prediction market company Kalshi on Tuesday, issuing an order barring the company from responding to a local court’s request to void previous customer trades. The CFTC’s decision amplifies its legal fight with state governments and courts over what its chairman considers its unbreakable […]

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The United States and the United Kingdom are set to align rules for token finance across the world’s largest financial markets.

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The United States and the United Kingdom have outlined a plan to facilitate the movement of tokenized financial products between their markets, signaling that both governments want blockchain-based finance to become a larger part of traditional capital markets. Released Tuesday by the U.S. Department of the Treasury and the U.K. Treasury, the Transatlantic Future Markets

The United States and the United Kingdom are set to align rules for token finance across the world’s largest financial markets. Read More »

Mizuho turns bearish on stablecoin issuer Circle, citing Open USD competition

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Japanese investment bank Mizuho downgraded Circle (CRCL) from neutral to underperform and reduced its price target from $85 to $50, arguing that OpenUSD’s business model threatens the stablecoin issuer’s long-term economics. Shares of Circle were trading down 0.6% at $62.63 at press time. Open USD, a dollar-backed stablecoin unveiled June 30 by the Open Standard

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Some Democratic U.S. senators speak out against the Clarity Act, calling it “corrupt”

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The Clarity Act will need to be sold to a large number of Democrats in the coming days if it is to get out of the Senate before Congress’s summer recess and focus on this fall’s midterm elections. Although a new, potentially final draft is expected as soon as Tuesday, it still lacks a resolution

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Binance bets on becoming a crypto ‘super app’ as stablecoins reshape growth

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Binance believes its next phase of growth will come from payments and financial services rather than just cryptocurrency trading, as stablecoins reshape the way people use digital assets, according to Shunyet Jan, head of spot trading and derivatives at the exchange. In an interview with CoinDesk on Binance’s ninth anniversary, Jan outlined Binance’s strategy and

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In fact, the Clarity Act is not a way to escape sanctions.

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Ironically, some critics of the bill have cited recent Wall Street Journal articles on Hong Kong’s CoinEx exchange as evidence of the risk. CoinEx is actually a story about how to use a public ledger to track, trace, and disrupt nation-state activity. Investigators traced approximately $3.84 billion in Iran-linked transactions, linking wallets controlled by Iran’s

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For pension funds, the real goal of tokenization is balance sheet management, not just 24/7 liquidity, says Fidelity’s Lai.

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Tokenized products already exist, but mainly for investing. The most popular category is tokenized money market funds, primarily backed by U.S. Treasuries. The largest, BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), debuted in March 2024. This category now has over $15 billion in assets under management (AUM), with the broader market for on-chain real-world assets

For pension funds, the real goal of tokenization is balance sheet management, not just 24/7 liquidity, says Fidelity’s Lai. Read More »

JPMorgan sees Hyperliquid partnership weighing on Circle, Coinbase

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Hyperliquide is one of the fastest growing cryptocurrency trading platforms and the leading decentralized and perpetual futures exchange. The platform processed over $150 billion in trading volume in July alone, while its volume relative to Binance soared to 11.5%, highlighting its growing share in the derivatives market. USDC balances on Hyperliquid have reached approximately $6

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Ethereum (ETH) Foundation spinout EthSystems targets banks with blockchain privacy technology

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A team of former Ethereum Foundation researchers focused on institutional privacy has launched EthSystems, a new for-profit company aimed at creating privacy infrastructure for financial institutions using Ethereum. The startup grew out of the Ethereum Foundation, which has spent the last year developing privacy technologies for enterprise use cases while collaborating with central banks, regulators,

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