CFTC WINS KEY VICTORY OVER PRECIOUS-METALS DEALER The Ninth Circuit just handed the CFTC a sweeping win, ruling that Monex Credit Company’s leveraged precious-metals contracts are futures contracts subject to federal oversight. The decision reverses a lower court’s dismissal and breathes new life into the agency’s stalled enforcement campaign against retail commodity dealers. The dispute…
CFTC Loses Ground on Crypto Oversight as Court Strips Authority In a blunt rebuke to federal regulators, the D.C. Circuit has ruled that the Commodity Futures Trading Commission overstepped when it sanctioned trader Trevor Kitchen for off-exchange crypto derivatives, finding that the agency lacked statutory power over the underlying assets. The decision narrows the CFTC’s…
Near Intents Hacked for $3.8 Million Days After Denying North Korea-Linked Bitget Hacker Near Intents was hacked for approximately $3.8 million, according to the information available. The incident occurred just days after the project denied an association with a Bitget hacker linked to North Korea. The timing has drawn attention because the earlier denial and…
Court Slams Trader’s Crypto Escape Attempt The Ninth Circuit just told a convicted commodities fraudster that crypto tricks won’t dodge federal penalties. In a crisp opinion, the court upheld a $2.4 million restitution order and 21-month prison term against James Devlin Crombie, rejecting his bid to hide behind Bitcoin transactions and offshore accounts. The ruling…
Court Greenlights IRS Crypto Seizure Powers The U.S. District Court for the District of Columbia just ruled that twenty-four cryptocurrency accounts can be forfeited to the government after the IRS traced them to an alleged tax-evasion scheme. The decision hands federal agents a powerful precedent: digital wallets are now fair game for civil forfeiture when…
Court Slaps Binance With Partial Win, Full Fight Ahead The U.S. District Court for the District of Columbia just handed the SEC a split decision in its sprawling case against Binance, letting some claims survive while gutting others. The ruling matters because it redraws the battlefield for how crypto exchanges, token issuers, and even stablecoin…
SEC Proposes Rules to Clarify How Advisers and Funds Can Hold Crypto The U.S. Securities and Exchange Commission has proposed rules aimed at clarifying how investment advisers and funds can hold crypto assets. The proposal focuses on providing clearer guidance for firms that manage money on behalf of clients or investors. It could help establish…
Court Nixes Crypto Startup’s Breach Claim Over Failed Deal Delaware’s top commercial court just slammed the door on a crypto technology company’s attempt to force a transaction that never closed, ruling that a claimed “partnership” was nothing more than a non-binding letter of intent. The decision sharpens the line between aspirational crypto deals and enforceable…
Fiserv Puts Stablecoin Banking Platform Live With North Dakota Roughrider Coin Fiserv said on Oct. 1 that its digital-asset platform is now live with financial-institution clients, with Bank of North Dakota’s Roughrider Coin serving as the first production deployment. The launch is notable less for the arrival of another stablecoin and more for where it…
COURT SLAMS SEC FOR BITCOIN ETF DOUBLE STANDARD The D.C. Circuit just torched the SEC’s refusal to approve Grayscale’s spot Bitcoin ETF, ruling the agency acted arbitrarily by treating the exact same Bitcoin exposure differently when it sits in a futures ETF versus a spot ETF. The decision forces the Commission to revisit its denial…
JUDGE TOSSES DONELSON’S APPEAL, CFTC WINS BIG The Seventh Circuit has upheld the CFTC’s $1.8 million judgment against trader James Donelson for running an unregistered futures scheme that bilked customers out of $5.8 million. The ruling cements the agency’s power to police unregistered crypto and commodity contracts even when defendants claim they never touched actual…
Crypto Shorts Lose $110M in Ten Minutes as Sudden Rally Forces Traders Out Crypto traders holding short positions lost approximately $110 million in just ten minutes as a sudden market rally pushed prices higher and forced bearish positions to close. Short sellers profit when an asset’s price declines. When prices rise unexpectedly, traders may be…
Court Slams Coinbase’s SEC Challenge, Keeps Crypto in Legal Limbo Coinbase lost its bid to force the SEC into rulemaking on crypto, and the Third Circuit just told the exchange that asking nicely won’t cut it. The ruling keeps the agency’s enforcement-first approach alive and leaves exchanges, traders, and token issuers guessing what rules apply…
Chainlink and Swift Demo Automated Tokenized-Equity Dividends Across Four Blockchains Chainlink and Swift have demonstrated a system for automating dividend payments tied to tokenized equities across four different blockchains. The demonstration focused on using blockchain infrastructure to support the distribution of dividends associated with digitally represented shares. By spanning multiple networks, it also addressed how…
Another Trump memecoin dinner advertised for token’s top investors Another dinner linked to the Trump memecoin has been advertised for the token’s top investors, extending a format that connects access to an in-person event with holdings of the cryptocurrency. The announcement is aimed specifically at the token’s highest-ranking investors. No further details about the event…
Monero and other privacy-focused tokens jump as crypto majors hold gains Privacy-oriented cryptocurrencies led market moves this week as a broadly positive session for major tokens coincided with sharp rallies in select altcoins. Bitcoin rose about 1.5% to $92,000, while Ether gained roughly 1% to $3,130. Solana increased around 2% to $142, and XRP added…
Once a $2 Billion Ethereum Layer-2, Blast Is Shutting Down After Assets Plunge 98% Blast, an Ethereum layer-2 network that once held roughly $2 billion in assets, is shutting down after its assets fell by 98%. The move marks a sharp reversal for a project that had attracted significant capital and attention within Ethereum’s layer-2…
SEC proposes new crypto custody rules for investment advisers and funds The U.S. Securities and Exchange Commission has proposed new rules and amendments aimed at modernizing how registered investment advisers and regulated funds hold crypto assets in custody on behalf of clients. The SEC said the package is designed to create a tailored framework for…
Court Greenlights Kalshi’s Election Contracts, CFTC Authority Takes a Hit The D.C. Circuit just handed Kalshi a sweeping win that lets the company list contracts on U.S. election outcomes, instantly turning a legal sideshow into a market-moving event. In a terse, unanimous order released October 2, the court refused the CFTC’s emergency request to block…
Court Slaps Texas Crypto Miners With Mandamus Loss Texas appellate judges just slammed the door on a crypto mining company’s last-ditch attempt to dodge state-court oversight, ruling that Envy Blockchain and its affiliates must face their civil lawsuit in El Paso instead of escaping to federal court. The decision keeps pressure on an industry already…
