💰 XRP Institutional Shorts Surge to 115 Million Tokens
CME XRP open interest jumped nearly 40% in a single week according to the latest CFTC report. Leveraged funds have doubled their net short positions, now holding a net short of 2,314 contracts, equivalent to approximately 115.7 million XRP.
This aggressive shorting comes despite XRP rebounding 32% from the $1 level this month to trade near $1.38. While leveraged funds are betting against the momentum, other institutional players like dealers and asset managers have increased their net long positions.
Dealers added 59.75 million XRP in net longs, while asset managers added 28.25 million XRP. This creates a sharp divide in institutional sentiment as the CME market expands rapidly.
#XRP #Ripple #CryptoNews #CFTC
CME XRP open interest jumped nearly 40% in a single week according to the latest CFTC report. Leveraged funds have doubled their net short positions, now holding a net short of 2,314 contracts, equivalent to approximately 115.7 million XRP.
This aggressive shorting comes despite XRP rebounding 32% from the $1 level this month to trade near $1.38. While leveraged funds are betting against the momentum, other institutional players like dealers and asset managers have increased their net long positions.
Dealers added 59.75 million XRP in net longs, while asset managers added 28.25 million XRP. This creates a sharp divide in institutional sentiment as the CME market expands rapidly.
#XRP #Ripple #CryptoNews #CFTC
⚖️ CFTC grants regulatory relief to crypto wallets and trading apps
The CFTC has expanded regulatory relief for passive software providers, allowing crypto wallets and apps to connect users to regulated derivatives and prediction markets without registering as introducing brokers. This move simplifies how platforms offer access to perpetual contracts and other financial products.
To qualify, providers must limit their role in transactions and cannot exercise discretion over user orders. This policy extends a previous exemption granted to Phantom wallet in March, following requests from Phantom and the Hyperliquid Policy Center for clearer rules.
#CFTC #CryptoRegulation #Wallets #Derivatives
The CFTC has expanded regulatory relief for passive software providers, allowing crypto wallets and apps to connect users to regulated derivatives and prediction markets without registering as introducing brokers. This move simplifies how platforms offer access to perpetual contracts and other financial products.
To qualify, providers must limit their role in transactions and cannot exercise discretion over user orders. This policy extends a previous exemption granted to Phantom wallet in March, following requests from Phantom and the Hyperliquid Policy Center for clearer rules.
#CFTC #CryptoRegulation #Wallets #Derivatives
⚖️ CFTC Proposes New Rules to Prevent Another FTX Collapse
The CFTC Chair Mike Selig has announced a new regulatory framework designed to safeguard digital asset spot markets and prevent a repeat of the FTX disaster. The agency is seeking public comment on a new federal registration category called a "crypto asset market" for exchanges.
This move targets platforms offering leveraged, margined, or financed crypto trades to retail customers. Selig noted that while Sam Bankman-Fried stole $8 billion in customer funds at FTX, the subsidiary registered with the CFTC kept all funds safe through strict segregation requirements.
The regulator plans to apply these stringent federal standards across the crypto world. Under the proposal, exchanges not offering leverage can remain under state licenses, but the CFTC intends to define "leverage" broadly to maximize oversight.
#CFTC #Regulation #FTX #CryptoNews
The CFTC Chair Mike Selig has announced a new regulatory framework designed to safeguard digital asset spot markets and prevent a repeat of the FTX disaster. The agency is seeking public comment on a new federal registration category called a "crypto asset market" for exchanges.
This move targets platforms offering leveraged, margined, or financed crypto trades to retail customers. Selig noted that while Sam Bankman-Fried stole $8 billion in customer funds at FTX, the subsidiary registered with the CFTC kept all funds safe through strict segregation requirements.
The regulator plans to apply these stringent federal standards across the crypto world. Under the proposal, exchanges not offering leverage can remain under state licenses, but the CFTC intends to define "leverage" broadly to maximize oversight.
#CFTC #Regulation #FTX #CryptoNews
🚨 CFTC moves to regulate prediction markets as financial swaps
The CFTC has issued two major proposals to classify event contracts as swaps under federal law. This move aims to bring platforms like Polymarket and Kalshi under exclusive federal jurisdiction, separating them from traditional casino gambling.
Chairman Michael Selig stated that event contracts tied to politics, sports, and weather are commodity derivatives. By defining them as swaps, the CFTC asserts its authority over state regulators who have recently sued these platforms for illegal gambling.
A second proposal explicitly excludes traditional casino games and sportsbooks from the swap definition. This distinction is designed to protect the CFTC's remit while leaving actual gambling to state authorities.
#CFTC #Polymarket #Regulation #CryptoNews
The CFTC has issued two major proposals to classify event contracts as swaps under federal law. This move aims to bring platforms like Polymarket and Kalshi under exclusive federal jurisdiction, separating them from traditional casino gambling.
Chairman Michael Selig stated that event contracts tied to politics, sports, and weather are commodity derivatives. By defining them as swaps, the CFTC asserts its authority over state regulators who have recently sued these platforms for illegal gambling.
A second proposal explicitly excludes traditional casino games and sportsbooks from the swap definition. This distinction is designed to protect the CFTC's remit while leaving actual gambling to state authorities.
#CFTC #Polymarket #Regulation #CryptoNews
🚨 CFTC Chair Pushes for US Oversight After $6.4 Billion Binance Hack
CFTC Chairman Michael Selig is using the record-breaking $6.4 billion exploit of Binance to argue for federal oversight of offshore crypto exchanges. Speaking to CNBC, Selig stated that the lack of US-style safeguards on unregulated platforms is the "real issue" and proposed a "federal option" for registration and cybersecurity standards.
The hack, tied by TRM Labs and Chainalysis to North Korea’s TraderTraitor group, is the largest in crypto history. While Binance initially blamed a single compromised laptop, CEO Richard Teng now describes a more complex attack that involved multiple breach points beyond one engineer's permissions.
#Binance #CFTC #CryptoHack #Ethereum
CFTC Chairman Michael Selig is using the record-breaking $6.4 billion exploit of Binance to argue for federal oversight of offshore crypto exchanges. Speaking to CNBC, Selig stated that the lack of US-style safeguards on unregulated platforms is the "real issue" and proposed a "federal option" for registration and cybersecurity standards.
The hack, tied by TRM Labs and Chainalysis to North Korea’s TraderTraitor group, is the largest in crypto history. While Binance initially blamed a single compromised laptop, CEO Richard Teng now describes a more complex attack that involved multiple breach points beyond one engineer's permissions.
#Binance #CFTC #CryptoHack #Ethereum