Crypto COM

The U.S. Commodity Futures Trading Commission is proposing two rules to oversee leveraged, margined and financed crypto transactions through a new exchange category. The move advances federal crypto policy after Congress failed to complete market structure legislation, but direct spot trading remains largely outside the agency’s rulemaking reach.

The CFTC has sent two event-contract rule plans to White House review as it seeks to cement federal oversight of prediction markets. The move could intensify clashes with states arguing that sports-linked contracts on platforms such as Kalshi amount to gambling.

Franklin Templeton is expanding its off exchange collateral program to Bybit, allowing eligible users to pledge tokenized money market fund shares for USDT or USDC credit lines. The structure keeps underlying assets with regulated custody platform ByCustody while mirroring their value inside Bybit’s trading environment.

Kalshi suffered a major legal blow after a federal appeals court in Nevada rejected its argument that state gaming regulators lack authority over its sports event contracts. The decision conflicts with another federal court outcome involving New Jersey, increasing the likelihood that the U.S. Supreme Court may eventually be asked to resolve the dispute.

Crypto.com has launched tokenized derivatives tracking 1,500 U.S. stocks and ETFs for eligible users in approved markets. The products offer synthetic price exposure rather than ownership of the underlying shares, adding to a wider push by crypto platforms into tokenized equities.

Trump Media and Technology Group reported a smaller bitcoin position at the end of June as the fair value of its crypto assets declined. The update followed the collapse of planned Crypto.com-linked initiatives, including a proposed CRO treasury company and an ETF servicing partnership.

Trump Media, Crypto.com and Yorkville Acquisition have terminated plans for a publicly traded company focused on accumulating and staking CRO. The move marks a sharp pullback from Trump Media’s crypto expansion as the firm redirects attention toward media, data licensing and a proposed fusion-energy merger.

Wallets tied to Trump Media moved 2,628 bitcoin worth about $165 million to Crypto.com, leaving roughly 4,261 bitcoin in tagged addresses. The remaining balance now closely matches the 4,260.73 bitcoin the company previously listed as collateral for convertible notes, making its next 10-Q central to understanding whether the transfers were custody movements or sales.

The Commodity Futures Trading Commission has cautioned prediction market operators that broad, template-style event contract certifications can fall short of regulatory requirements. The advisory underscores growing scrutiny of a fast-expanding market that includes political, sports and other event-based contracts.

Circle has received final approval from the U.S. Office of the Comptroller of the Currency to establish Circle National Trust, a federally supervised national trust bank. The move strengthens the USDC issuer’s position in regulated digital asset custody as more crypto firms pursue federal banking approvals.

Hong Kong's Securities and Futures Commission (SFC) has found "unsatisfactory practices" at several cryptocurrency exchanges seeking full licenses after conducting on-site inspections. The regulator warned that platforms failing to address critical issues could have their applications rejected or temporary licenses revoked. This development could hinder Hong Kong's ambitions to become a global crypto hub.