The CFTC issued notices affecting platforms seeking to offer cryptocurrency perpetual futures contracts, including a no-action position for Coinbase and approval for Kalshi.
Swan Bitcoin CEO Cory Klippsten said it is important to pay attention to retail sentiment around Bitcoin, as ownership is still far from concentrated and “it’s not like Blackrock owns the Bitcoin.”
The investment firm said nation-states and central banks are increasingly turning to assets like Bitcoin and gold as alternative settlement systems outside of US control.
Kalshi sued Minnesota while the CFTC filed against Rhode Island as legal wrangling with state-level authorities seems likely headed to the US Supreme Court.