Hyperliquid's weekly trading volume (July 13-19) was 54% driven by Real-World Assets (RWAs), outpacing crypto for the first time, with SK Hynix leading interest.
Crypto derivatives exchange BitMEX is shutting down, prompting industry questions about market consolidation due to liquidity concentration among large players and rising regulatory costs. Its utility token, BMEX, plunged over 90% following the announcement.
BitMEX, one of the oldest crypto derivatives platforms, will cease operations on September 23 at 04:00 UTC, citing a strategic business review. New sign-ups are halted, trading will wind down by August 26, and users have two months to withdraw funds, with fees for parked balances.
OKX appointed former NY Governor Andrew Cuomo to its board, leveraging his regulatory expertise for its push into licensed financial services, including a joint venture with ICE. This move aims to secure broker-dealer status and institutional customers, occurring as Congress debates the CLARITY Act, which addresses the overlap between political power and crypto wealth.
Arcus, a decentralized exchange backed by Robinhood Crypto, has launched tokenized stocks and perpetual futures on Robinhood Chain, offering over 95 stock tokens and derivatives. The platform uses a self-custodial model, but its stock tokens are unavailable in the US, Canada, and the UK due to ongoing regulatory questions.
XRP's open interest has surpassed $2.4 billion, increasing by $125 million in a week as traders boost derivatives exposure. The token trades near $1.13, requiring a daily close above $1.18 to confirm a stronger price expansion towards $1.26, with derivatives poised to amplify future moves.
Bitcoin displayed relative strength, decoupling from traditional markets as AI stocks declined and Treasury yields rose. Despite caution from derivatives traders, BTC broke above $65,000, showing resilience amid tech sector profit-taking and US-Iran geopolitical tensions.
Ether (ETH) price rose 3% driven by tokenization growth and Robinhood Chain, despite weak onchain data. Ethereum leads RWA tokenization, and Robinhood Chain attracted $106M in deposits. However, DApp revenue and active addresses are down, and funding rates are low, raising concerns about a potential retest of $1,700.
Phantom and the Hyperliquid Policy Center are asking the CFTC to remove regulations they claim hinder fintech firms from partnering with registered derivatives markets. They propose a model where non-custodial wallets provide technical access to markets without triggering broker registration.
Coinbase has received UK regulatory approval to offer investment services, including trading equities and derivatives. This expansion allows UK users to access traditional financial instruments alongside crypto, moving Coinbase closer to its goal of becoming an "everything exchange."
Coinbase has obtained a UK investment services license, enabling it to offer products beyond crypto, including equities and derivatives, to both retail and institutional clients. This expansion aligns with its "everything exchange" vision and precedes the UK's new crypto regulatory regime.
ESMA warns prediction market contracts may already fall under existing binary options restrictions, stating companies can't avoid financial regulations by marketing them as 'event contracts.' In the US, a legal battle is ongoing between state gaming regulators and the CFTC over whether these contracts are gambling or federally regulated derivatives.
Nearly 1,700 UK investors are suing Binance and its founder for £150 million, alleging the crypto exchange sold unapproved derivatives. The lawsuit claims Binance breached the Financial Services and Markets Act 2000 by offering leverage tokens, futures, and options to UK customers without regulatory approval.
XRP has retreated toward $1, testing a critical support level amid a market-wide selloff, with leveraged positions disappearing, derivatives activity contracting, and investors increasingly selling at a loss.
The financial world is shifting from ownership to optionality, with derivatives like options and futures becoming dominant. Crypto markets led this trend, and traditional markets are now following suit, driven by demand for flexibility and exposure to probability.
The Chicago Mercantile Exchange (CME) Group has filed a lawsuit against the US Commodity Futures Trading Commission (CFTC) and its chair, Michael Selig, over the agency's approvals of cryptocurrency perpetual futures. CME alleges the CFTC is misinterpreting Congressional directives and acting unilaterally.
Hyperliquid's HYPE token has defied the crypto bear market, with open interest reaching $3 billion and a 32% weekly growth. The token rallied 44% in five days, hitting an all-time high near $77. The exchange's innovation in TradFi perpetuals, including SpaceX pre-IPO trading, is driving demand and institutional interest.
Bitcoin rallied above $67,000 following a reported ceasefire deal with Iran, but derivatives markets show trader skepticism. Weak futures basis and elevated put options premiums signal caution, despite ETF inflows and institutional buying.
The CFTC has approved KalshiEX to list a Bitcoin perpetual futures contract (BTCPERP), marking a significant step for crypto derivatives in regulated US markets. This move could change how retail and institutional traders access leveraged Bitcoin exposure, bringing a popular crypto financial tool into the US regulatory framework.
Kraken has launched perpetual futures trading for eligible US users through its acquisition of Bitnomial. The offering includes contracts for major cryptocurrencies like Bitcoin and Ether, expanding Kraken's domestic derivatives market presence.
Kraken has launched perpetual futures trading for eligible US users through its acquisition, Bitnomial. The offering includes contracts for major cryptocurrencies like Bitcoin and Ether, expanding Kraken's domestic derivatives market presence.
Nakamoto Inc. sold ~$48M in Bitcoin and derivatives, refinanced debt, and authorized a $25M share buyback, reducing debt by $45M and extending maturity to 2027, amidst Bitcoin's 21% monthly decline.
Robinhood Securities has received approval to act as an IPO underwriter, a move that allows it to participate directly in the main underwriting group alongside traditional Wall Street banks. CEO Vlad Tenev announced the approval, positioning it as a natural progression after the launch of IPO Access.
Ether (ETH) hits 13-month low at $1,540 amid bearish derivatives metrics and fears over a critical Zcash bug, triggering $1.28B in ETH long liquidations and a contraction in Ethereum TVL.
