Bitcoin bulls attempt to reclaim daily moving averages while volatility warnings come before a unique options expiry event for TradFi markets. Key points: Bitcoin gives up pre-Wall Street gains as range-bound BTC price action stays in place. A potentially record-breaking TradFi options expiry event threatens curveball volatility across risk assets. Read more
Coinbase is gearing up to launch crypto perpetual futures as the CFTC reconsiders its previous stance toward the high-risk financial products. Perpetual futures for crypto, also called perpetual swaps or perps, are gaining momentum in the United States amid concerns over risk to retail traders. Head of consumer products of Coinbase, Max Branzburg announced on June 13 that the exchange was planning to launch perps that are compliant with the Commodity Futures Trading Commission (CFTC) for US customers. While BitMEX first launched crypto perps back in 2016, US customers and exchanges haven’t had access to them. One of the main reasons US financial watchdogs have taken action against exchanges offering perps is the high-risk nature of the contracts. Read more
The SEC’s new approach to staking is a turning point for US crypto regulation, showing that genuine, tech-savvy engagement can build smarter policy and keep blockchain innovation onshore. Opinion by: Margaret Rosenfeld, chief legal officer of Everstake At the dawn of the internet in the late 1990s, technology outpaced regulation — and lawyers, engineers and policymakers had to learn together in real-time. Some regulators saw the internet as a threat, others as a challenge. The ones who made the most significant difference, however, were those willing to engage directly with how the technology worked. That kind of engagement — technical fluency, not technophobia — enabled the internet to evolve from fringe novelty to familiar infrastructure. Read more