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Crypto

U.S. regulators rush pro-crypto rules, with court review and change of administration as variables

The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission have rolled out a series of pro-crypto rules, accelerating market institutionalisation. A new issue is whether the measures can withstand court review and a change of administration. Formal rules grounded in legal authority may be more durable, while interpretive guidance and FAQs can be revised or withdrawn more easily. Analysts and lawyers cite tighter judicial scrutiny and past policy reversals as key risks.

Crypto

OKX raises funds at $25 billion valuation with Circle, Ripple, SC Ventures participating

Cryptocurrency exchange OKX has raised new funding at a valuation of $25 billion. A recent Bloomberg report said Circle, Ripple, SC Ventures under Standard Chartered, and London-based quant hedge fund Qube Research & Technologies (QRT) participated. The size of the investment was not disclosed. The funding follows an extension of a March funding round in which Intercontinental Exchange invested about $200 million at the same valuation.

Crypto

Blockchain.com seeks U.S. entry into prediction markets and derivatives, files with CFTC

Blockchain.com has applied for two licences to offer prediction-market and cryptocurrency-derivatives trading services in the United States, CNBC reported. The company has applied for a designated contract market licence and registration as a futures commission merchant, with approvals overseen by the U.S. Commodity Futures Trading Commission. CEO Peter Smith said users should be able to manage digital assets, trade derivatives and bet on real-world outcomes in one place.