JUDGES RULE BITCOIN SWAPS ARE FUTURES, DONELSON LOSES The Seventh Circuit just handed the CFTC a clean win in a case that quietly redraws the line between retail crypto trading and regulated futures. By calling Donelson’s bitcoin-for-dollar contracts “futures,” the court handed federal watchdogs new authority over any platform offering leveraged crypto trades that look…
California Bans Public Officials From Issuing Meme Coins Under New Newsom Law California has banned public officials from issuing meme coins under a new law associated with Gov. Gavin Newsom. The measure prevents public officials from creating and launching meme coins, a category of cryptocurrency typically associated with public figures, internet communities, or cultural trends….
Coinbase Forces SEC to Face the Music in Court Coinbase just won the right to challenge the SEC head-on in federal court, turning a routine petition into a landmark test of how far the agency can stretch its reach into crypto. The Third Circuit’s ruling cracks open a new front in the battle over digital…
Bond volatility surges while bitcoin and Wall Street stay calm Volatility in bond markets has risen even as trading in bitcoin and on Wall Street has remained relatively calm, highlighting a divergence across major financial markets. The contrast matters because government bonds are typically viewed as a key foundation of the global financial system. When…
Bitcoin Slips as Iran Tensions Hit Markets Bitcoin failed to reclaim the $80,000 level as escalating Iran tensions pressured U.S. stocks and weakened risk appetite. Treasury Secretary Scott Bessent’s comments also fueled concern that a stronger yen could trigger an unwind of the yen carry trade, adding another source of market stress. The selloff reflects…
U.S. SEC’s Steadiest Crypto Advocate, Hester Peirce, to Depart Next Week Hester Peirce, widely regarded as one of the U.S. Securities and Exchange Commission’s most consistent advocates for a more accommodating approach to crypto, is set to depart the agency next week. Peirce’s departure marks the exit of a prominent voice on digital-asset policy within…
US Aims to Turn Stablecoins Into a Weapon for Dollar Dominance Washington is weighing whether to support private stablecoin ventures abroad as part of a broader effort to protect the US dollar’s role as the world’s primary reserve currency and to sustain demand for US Treasuries. The idea, as described, would involve funding or backing…
US Bank Tests Stablecoin Transfers Across Stellar A US bank has tested its proprietary USBDC stablecoin in a cross-border transaction between its North American and European entities. The pilot ran on the public Stellar blockchain, signaling that traditional financial institutions are increasingly exploring blockchain rails for faster international settlement. The test focused on moving USBDC…
Bitcoin bears pay to bet on further declines as futures positions near yearly lows Traders positioning for a decline in Bitcoin are paying a premium to maintain bearish futures positions, while overall futures activity has fallen close to its lowest level of the year. The combination points to a more cautious derivatives market. Lower futures…
Tether and Fasanara Target $3 Billion Private Credit Expansion Tether and Fasanara Capital have launched a $400 million evergreen private credit fund designed to expand asset-backed lending through fintech platforms across more than 60 countries. The initiative pushes USDT beyond trading markets and into global financing infrastructure, raising both adoption hopes and questions about credit…
New York Wants to Ban Polymarket, Lawsuit Calls It ‘Illegal Gambling Operation’ New York state officials are moving to block prediction market Polymarket from operating in the state, arguing the platform is offering gambling services without proper authorization. In a legal action led by Attorney General Letitia James and supported by Governor Kathy Hochul, the…
KALSHI WINS ROUND ONE, CFTC LOSES GROUND The D.C. Circuit just refused to pause a lower-court order that lets Kalshi list election contracts, handing the CFTC a sharp defeat in its bid to keep political-event contracts off U.S. exchanges. The ruling is the first appellate signal that the agency’s broad reading of its “public-interest” veto…
Court of Appeals Kills Texas Blockchain Suit The Texas Eighth Court of Appeals just shut down a lawsuit that tried to drag three crypto-linked companies into court without proving they had any real connection to the state. In a rare writ of mandamus, the judges ordered the lower court to drop the case, signaling that…
Q-Day Could Arrive Before Quantum Computers Are Commercially Useful, EU Warns European Union officials have warned that “Q-Day” — the point at which quantum computers can break widely used encryption — could arrive before quantum machines are commercially useful, underscoring a security risk that could emerge ahead of any broader economic upside from the technology….
Judge Orders CFTC to Hand Over Documents in Kraft Case A federal appeals court has forced the Commodity Futures Trading Commission to surrender internal files to Kraft Foods in a long-running manipulation dispute, handing defense lawyers a rare window into how regulators build enforcement cases. The Seventh Circuit’s writ of mandamus compels the agency to…
COURT SLAPS BILZERIAN WITH PERMANENT TRADING BAN — 30-YEAR OLD CASE FINALLY CLOSES The D.C. federal court just locked the final gate on a three-decade enforcement saga, ruling that Paul Bilzerian and his family-run trust can never again trade securities in the United States. The decision closes the last chapter of the SEC’s 1989 civil…
COURT EXPANDS SEC REACH TO DECENTRALIZED PROTOCOLS Federal judges just gave regulators their sharpest weapon yet against crypto’s decentralized core. Yesterday’s ruling in Securities and Exchange Commission v. Distributed Ledger Technologies, Inc. declared that software protocols enabling token swaps can themselves be “exchanges” under federal law, even when no company or intermediary takes custody. The…
Court Slams CFTC for Overreaching on Bitcoin Options A federal appeals court just told the CFTC it cannot punish a family trust for trading bitcoin options without registration. The ruling narrows the agency’s reach over crypto derivatives and signals that not every token-linked contract automatically falls under federal oversight. Markets read the decision as a…
COURT SLAMS SEC ON RIPPLE APPEAL, RULING STANDS The Fifth Circuit just handed the SEC its third straight loss in the Ripple saga by refusing to revive the agency’s penalty claims on secondary sales of XRP. The 2-1 panel decision locks in the lower court’s finding that institutional sales violated securities laws while retail exchange…
Regal Commodities v Tauber Appellate Court Slaps Down Trader’s Crypto Defense A New York appellate panel just handed crypto traders a hard lesson: you cannot dodge a commodities contract simply by calling the asset “decentralized.” The ruling keeps a $2.4 million judgment alive and signals that judges will treat crypto the same way they treat…
