CFTC's New Direction: A Game-Changer for Crypto Futures? The United States is on the cusp of a major regulatory shift as Mike Selig, the newly appointed Chair of the Commodity Futures Trading Commission (CFTC), indicates that a framework for allowing crypto perpetual futures to trade onshore is nearing approval. This development is significant for stakeholders in the crypto market, as it promises enhanced legitimacy and expansion opportunities for digital financial products. For Hyperliquid and other players in the crypto trading space, this potential regulatory change can unlock new avenues of growth. The approval of crypto perpetual futures would not only increase investor confidence but also offer a more robust platform for innovations to thrive within the U.S. financial landscape. Such a move could attract more institutional investors who have been waiting on the sidelines due to regulatory uncertainty. As the approval date approaches, the impact on Bitcoin and other cryptocurrencies could be profound. This impending change raises critical questions about the future of digital asset trading in the U.S. and its implications globally. What are your thoughts on the CFTC's potential approval of crypto perpetual futures and its impact on the market? #CryptoRegulation #CFTC #PerpetualFutures #Hyperliquid #DigitalAssets #CryptoTrading - - - - - - - - - - - 🖐 Thanks so much for taking the time to read my post. If you enjoyed this post, feel free to swing by my bookstore at sleepyhippie.com or vibe with some tunes on my YouTube channel at groovyboombox.com — you just might find your new favorite thing. Your support means the world. Stay awesome! ✌️ - - - - - - - - - - -

The U.S. has long been sidelined in the Trillions-dollar crypto perpetual futures market. Is that about to change, and what does it mean for institutional investors and active traders? The CFTC's imminent framework for U.S. crypto perpetual futures aims to repatriate massive offshore liquidity, positioning the U.S. as a dominant player in digital asset derivatives. This regulatory shift creates significant opportunities for regulated exchanges and institutional investors, while also introducing new risks tied to leveraged trading and potential market volatility. Active traders should prepare for increased market depth and evolving strategies as the competitive landscape between centralized and decentralized platforms continues to take shape. Dive into our latest analysis to understand this critical inflection point for the digital asset space. Read more: https://lnkd.in/g-w44ARF #CryptoPerps #DigitalAssets #CFTC #Fintech #Kavout

Centralized exchanges have long been the crown jewel of the crypto industry, processing over $3T in monthly perpetual futures volume and providing the core use case that underpins the sector: trading and speculation. Hyperliquid is steadily chipping away at that dominance. The platform's share of total perpetual futures volume has climbed to just under 6% in March, up from roughly 3.5% a year ago, with monthly volumes approaching $200B. What makes the trend particularly notable is that the ratio has continued to climb even as overall exchange volumes have compressed from their August 2025 peak. This suggests Hyperliquid is genuinely pulling market share rather than simply riding broader volume. Onchain competition remains limited. While platforms like dYdX and GMX exist, neither has matched Hyperliquid's trajectory in terms of volume growth or product expansion, leaving it as the clear frontrunner in decentralized perpetual futures. The platform's expansion into non-crypto assets is an increasingly relevant part of the story. Commodities like oil now trade 24/7 on Hyperliquid, and non-crypto volume is making up a growing share of overall activity on the platform. This points to a structural advantage that decentralized venues hold over traditional markets. A trading firm that waits for CME to open Sunday evening to hedge an oil position is carrying weekend gap risk that a 24/7 venue eliminates entirely. https://lnkd.in/deWa3_YV

🔵 USDC isn't crypto speculation — it's regulated, dollar-pegged, and backed by short-term US Treasuries and cash. Here's why institutions are choosing it for CRE settlement:✅ Always redeemable 1:1 for USD✅ Regulated by US financial authorities✅ Audited monthly by independent firms✅ Processes $10+ trillion in annual on-chain volume. This is the settlement layer the next generation of CRE transactions will run on. CREquity.ai is already built for it. CTA 🔗 Link in bio — see how it works. #USDC #InstitutionalFinance #CREquity #StablecoinRealEstate

What have you missed this week? Catch up with FX and crypto industry news from the last five days. Nasdaq and Talos has unveiled a partnership the firms say will connect Talos’ digital asset infrastructure to Nasdaq’s Calypso - https://lnkd.in/e2bUffa3 Security Exchange Commissionand U.S. Commodity Futures Trading Commission have jointly issued a statement to clarify how they will categorise crypto assets and what will count as security - https://lnkd.in/eUUudg9V The CFTC has published a FAQ about the use of crypto assets as collateral - https://lnkd.in/ee6c8YMj BMO, along with CME Group and Google Cloud has introduced 24/7 tokenised cash capabilities - https://lnkd.in/e22jZ67c Following the creation of a Testing and Readiness Workstream at the end of 2025, the UK Accelerated Settlement Taskforce and the EU T+1 Industry Committee, along with the Swiss T+1 Task Force, have released a set of “guiding principles” to assist the industry with the transition - https://lnkd.in/e7bNYKry HFR estimates that new fund launches rose to 562, the highest annual total since 2021 - https://lnkd.in/ehhPnPzD #FX #CapitalMarkets #HedgeFunds #Tokens #Crypto #DigitalAssets

SEC and CFTC Issue Landmark Joint Guidance on Classification of Crypto Assets: Part 1 The 🇺🇸 SEC and CFTC just did something unprecedented. For the first time, they jointly issued a 60-page framework classifying crypto assets under US securities laws. No more "regulation by enforcement." No more guessing. Here's what every founder, investor, and regulator needs to know. THE 5 CATEGORIES (At a Glance) - Bitcoin and Ether are officially "digital commodities." Years of uncertainty. Resolved. - Meme coins are not securities. The SEC confirmed they're digital collectibles: bought for entertainment, culture, and community. Not investment contracts. - Stablecoins under the GENIUS Act are excluded by statute. Congress already decided. -Tokenized stocks, bonds, and funds? Still securities. Format doesn't change substance. HOWEVER: A non-security crypto asset can become a security if: 1. An issuer makes representations or promises to undertake essential managerial efforts 2. Investors reasonably expect profits from those efforts 3. The asset is offered in a common enterprise And it can cease being a security if: 1. The issuer fulfills its promises. 2. The network becomes functional and decentralized. 3. No reasonable investor still expects profits from a central party's efforts. Lessons Learned for this clime: This is not just an American document. It's a global blueprint. When Nigerian regulators (SEC, CBN, NITDA) eventually draft rules—they will look here. When global exchanges decide which assets to list—they will apply this framework. When institutional capital flows into crypto—it will follow these categories. #CryptoRegulation #SEC #CFTC #DigitalAssets #Bitcoin #Ethereum #MemeCoins #Stablecoins #Web3Law #BlockchainRegulation #DigitalCommodities #Tokenization #Part1

A few years ago, TradFi's position on crypto was that it was worthless. Then it became "maybe our markets should be open 24/7." Then "let's update our infrastructure to make that happen." Now it's "we need to integrate crypto infrastructure into our systems now." For those of us who have believed that crypto represents a modern, global, permissionless set of financial rails that will power a new financial system, the Nasdaq and Talos announcement is not surprising. It looks and feels like a real tipping point between TradFi and crypto, and a strong signal that there is still meaningful upside ahead. What matters most here is who gets to compete and on whose terms. As traditional exchanges move to integrate crypto infrastructure, the cryptonative companies building this infrastructure don't have to fight for a seat at the table anymore. The table is coming to them, and they get to set the terms. Good read from Muyao S. and Katherine Doherty at Bloomberg: https://lnkd.in/eQuC_P9f

The SEC gave crypto "clarity." Now, let’s see how much it will actually cost. My latest piece for Finance Magnates explores the hidden costs of the new regulatory taxonomy. I talked to leaders from Binance, Bitget, and FxPro, and found that "clarity" brings a far more structured—and in many ways, more demanding—operating environment. 3 takeaways for brokers and exchanges: 1️⃣ 𝐓𝐡𝐞 "𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 𝐌𝐨𝐚𝐭": New rules favor larger players with established infrastructure. Smaller platforms may simply lack the budget to monitor a token’s entire lifecycle 24/7. 2️⃣ 𝐍𝐨 𝐦𝐨𝐫𝐞 "𝐋𝐢𝐬𝐭 𝐚𝐧𝐝 𝐅𝐨𝐫𝐠𝐞𝐭": Listing is no longer a one-time event. Classification is now dynamic; exchanges are expected to track how tokens evolve, how they are marketed, and whether they stay within their initial category. 3️⃣ 𝐀 𝐅𝐢𝐥𝐭𝐞𝐫, 𝐧𝐨𝐭 𝐚 𝐅𝐮𝐬𝐞: Don’t expect this to trigger a new bull run. Instead, expect a massive filter where only the top tier of "institutional-grade" assets survive. Read the full breakdown on how the burden is shifting: https://lnkd.in/eEgQdMP4 Special thanks to Gracy Chen, Kyrylo Khomiakov, and Alexander Kuptsikevich for sharing their professional perspectives. #CryptoRegulation #DigitalAssets #Exchanges #Compliance #SEC

The RWA narrative is the only narrative with real P&L. Volatility in pure-play crypto is one thing. But the growth of Real World Assets (RWAs) on-chain represents something different: Institutional yield. According to recent data, the total value locked in RWA protocols (excluding stablecoins) is pushing toward new highs, largely driven by tokenized U.S. Treasury products. Why? Because the demand for yield doesn't disappear in a bear market. From an advisory perspective, the convergence of TradFi and DeFi (often called TradDeFi) is creating a new hybrid portfolio construction model. We are moving from a world of "digital speculation" to "digital collateralization." My thesis: The next wave of wealth creation won't come from new coins, but from bringing the old world of assets onto the new world of rails. Let’s talk strategy. DM me if you are exploring how to incorporate RWAs into your advisory practice. #TokenizedAssets #InstitutionalCrypto #FinTech #DeFi #MarketTrends

We need to talk about the cost of trading crypto. It's the most expensive asset class on the planet to trade. And it's obvious why. The biggest product is perps. Ninety trillion dollars a year. Almost none of it has any independent clearing. Perps, where most of the volume is, almost nothing is cleared. This makes crypto massively expensive to trade. As much as we want to bring together the benefits of instant settlement, tokenised collateral, all of these things that can make a big difference to the process and the cost, none of it will make a dent in traditional markets if the cost of capital to trade is still so much higher than tradfi. We can't claim that "banks aren't adopting stablecoins" when the infrastructure to use them costs more in capital than traditional systems. Perps caught on because they're accessible to retail. The infrastructure hasn't kept up. A neutral clearing venue would change the economics entirely. It's time for us all to build the infrastructure to make this possible. #DerivativesClearing #CryptoInfrastructure #InstitutionalCrypto #MarketStructure