Crypto

CME 24/7 Crypto Derivatives Sees $50M Opening Weekend The CME Group’s newly launched 24/7 cryptocurrency derivatives market recorded $50 million in trading volume during its opening weekend, signaling strong institutional appetite for round-the-clock crypto exposure. The continuous trading platform, which eliminates the traditional weekend gap that has long characterized crypto futures markets, allows institutions to hedge and trade digital assets without interruption. The initial volume suggests that institutional traders have been waiting for such a product to manage risk more effectively during volatile weekend periods. ...

Robinhood has completed its $180 million acquisition of Canadian crypto platform WonderFi, officially entering the Canadian market. Users of WonderFi’s Bitbuy and Coinsquare platforms will be invited to transition to the Robinhood app.

Bitcoin has slid toward the $70,000 mark as concerns over major holder sales and geopolitical risks weigh on the cryptocurrency market. TheBlock reports that Strategy (formerly MicroStrategy) sold a portion of its Bitcoin holdings. While analysts described the sale as relatively modest in size, it sent a bearish signal across the broader crypto market. Compounding the pressure, ongoing geopolitical tensions in the Middle East have weighed on risk assets broadly. Analysts noted that investors are reassessing their crypto exposure amid heightened uncertainty. ...

Senators Elizabeth Warren and Bernie Sanders are jointly pressing the Department of Labor to strike down a proposed rule that would open up 401(k) retirement plans to cryptocurrency investments. The senators argue that crypto’s high volatility and security risks make it unsuitable for retirement savings. This opposition comes even as Wall Street firms accelerate crypto integration into mainstream financial products, with Franklin Templeton and others expanding tokenized fund offerings.

Japan LDP Proposes Crypto ETF Trading Framework, Yen Stablecoins Japan’s ruling Liberal Democratic Party (LDP) has submitted a proposal to the finance minister recommending that the country establish a legal framework for trading cryptocurrency ETFs. The proposal also supports the creation of yen-based stablecoins. The move signals Japan’s accelerating push toward comprehensive crypto regulatory reform and could position the country as the first major Asian economy to fully open crypto ETF trading. ...

Strategy Sells $2.5M Bitcoin — First Sale in Months Strategy (formerly MicroStrategy) disclosed in an 8-K filing that it sold approximately $2.5 million worth of bitcoin between May 26 and May 31, marking the company’s first BTC sale in months. Founder Michael Saylor said the proceeds were used to fund preferred stock distributions and reaffirmed that Strategy aims to make STRC the world’s best credit instrument. Multiple analysts described the sale as “immaterial” to Strategy’s overall bitcoin holdings, though some noted it signals a greater willingness to use BTC to support the capital structure. The timing sparked over $20 million in trading chaos on Polymarket, where bettors disputed whether the on-chain transaction date or the filing disclosure date should determine the outcome of a “will Strategy sell BTC before May 31” contract. ...

Gnosis Pay has suffered a security exploit, and co-founder Martin Koppelmann has promised that Gnosis will cover all user losses. Containment efforts are currently underway. This is another major security challenge for the Gnosis ecosystem, following similar attacks on cross-chain protocols like LayerZero. The Gnosis team is investigating the root cause and taking measures to prevent further losses.

The US Commodity Futures Trading Commission (CFTC) has approved the first cryptocurrency perpetual futures contracts, with Kalshi and Coinbase receiving authorization to list them. This marks a significant milestone for US crypto derivatives markets, providing institutional investors with additional hedging tools.

CFTC Opens Crypto Perpetual Futures Trading in U.S. Milestone The U.S. Commodity Futures Trading Commission (CFTC) has officially approved Kalshi exchange to list crypto asset perpetual futures contracts, marking the first time U.S. regulators have provided a pathway for regulated firms to participate in the crypto perpetual derivatives market. What Are Perpetual Futures Perpetual futures are futures contracts without an expiration date, allowing traders to hold positions indefinitely through a funding rate mechanism. This market has long been one of the largest segments of global crypto trading, but primarily operated on offshore exchanges outside U.S. regulatory oversight. ...

Paxos SEC Approval Blockchain Stock Clearing Takes Key Step Crypto infrastructure company Paxos has received approval from the U.S. Securities and Exchange Commission (SEC) to become the first licensed entity authorized to clear U.S. stocks on blockchain. This license positions Paxos to compete directly with traditional financial giants like DTCC (Depository Trust & Clearing Corporation). Milestone Significance Paxos’s new license marks a fundamental shift in blockchain technology’s role within U.S. traditional financial markets: ...