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Crypto

Gemini secures U.S. CFTC derivatives clearing organization license

U.S. cryptocurrency exchange Gemini has secured a derivatives clearing organization (DCO) license from the U.S. Commodity Futures Trading Commission (CFTC). The approval allows Gemini to expand beyond crypto spot trading into non-spot trading such as prediction markets, futures and options. Under the license, Gemini unit Olympus will act as the clearinghouse for Titan platform trades, handling settlement, risk and collateral management and trade guarantees.

Finance

KB Securities posts Q1 net profit of 350.2 billion won, up 92.75 percent year on year

KB Securities posted a sharp rise in first-quarter earnings, helped by stronger stock markets. Consolidated revenue rose 179.46 percent from a year earlier to 8.35 trillion won. Net profit increased 92.75 percent to 350.2 billion won and operating profit climbed 101.73 percent to 453.1 billion won. The company recorded broad-based growth across wealth management, investment banking, capital markets and wholesale operations.

Crypto

U.S. CFTC sues Illinois, Arizona and Connecticut over prediction market jurisdiction

The U.S. Commodity Futures Trading Commission has filed lawsuits against Illinois, Arizona and Connecticut in a dispute over jurisdiction for prediction markets. The agency said Illinois infringed the federal government’s exclusive authority by cracking down on platforms including Kalshi, Crypto.com and Polymarket, including sending orders to halt operations. The CFTC asked a federal court to determine whether the Illinois actions violated the U.S. Constitution’s Supremacy Clause.