CME
Can you regulate a machine? Walt Lukken on the CFTC's Innovation Committee
CoinDesk's The Policy Protocol host Renato Mariotti takes a deep dive into the CFTC's inaugural Innovation Advisory Committee. Renato breaks down the viral, spicy exchange between CME Group CEO Terry Duffy and CFTC Chairman Michael Selig over event contracts and market manipulation, and introduces his own comment-letter concept "accountability arbitrage" that focuses on the enforcement gap that opens up when an AI agent authors a trading strategy. He then sits down with the committee's chair, Walt Lukken, President and CEO of the Futures Industry Association and a former acting CFTC chairman, who explains why Chairman Selig stood up the committee, how FIA is welcoming retail-first and formerly-offshore entrants while holding the line on customer protections, and why the hardest open question in the room was how to hold a machine accountable.
Senate sets markup date for market structure
The Senate Banking Committee has scheduled a May 14 markup for the Digital Asset Market Clarity Act, the bill's first serious shot at advancement after a January delay. The White House wants it passed by July 4, but the banking industry still has reservations. CoinDesk's Sam Ewen hosts "CoinDesk Daily."
Robinhood's crypto revenue tanks 47%, gap filled by prediction markets
Robinhood missed earnings after crypto trading revenue fell 47% to $134 million in Q1. But event contracts surged 320% to $147 million as users traded a record 8.8 billion prediction market contracts. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily."
Bitcoin's price discovery is moving to Chicago
CME’s shift to nonstop derivatives access may accelerate institutional migration away from traditional crypto exchanges, according to the Chief Commercial Officer of XBTO.
Wall Street giant CME Group is eyeing its own 'CME Coin,' CEO says
The initiative is part of CME's push into tokenized collateral, and the firm is collaborating with Google on a “tokenized cash” solution set to launch later this year.
Futures price gap on CME offers bitcoin bulls a glimmer of hope
A sharp drop in the bitcoin price while CME was shut leaves bitcoin futures trading well below Friday’s close.
CME loses top spot to Binance in bitcoin futures open interest as institutional demand wanes
Behind the move is a sharp narrowing in the profitability of the basis trade, in which traders attempt to capture a spread by buying spot bitcoin while selling BTC futures.
Bitcoin Futures Return to Deepest 'Backwardation' Since FTX Collapse Hinting Possible Bottom
So-called "backwardation" — a futures price curve moving lower in value as time gets further out — can be read as a measure of stress in the market.
CME Announces First XRP and SOL Option Trades
Initial trades were conducted by major market participants, including Wintermute, Galaxy, Cumberland DRW, and SuperState.
Federal Reserve Rate Cut Could Spark a Revival in Bitcoin’s Basis Trade
CME open interest and futures premiums have slumped this year. Looser monetary policy may change the picture.
