Crypto Industry News & Market Trends

CFTC proposes ending SEF order book mandate

The CFTC has proposed removing a 13-year-old order book requirement for certain swap transactions, with public comments due within 30 days of its Federal Register publication.　　The Commodity Futures Trading Commission said in an Aug. 20 regulatory notice that it is seeking feedback on an amendment to Regulation 37.3(a)(2), which sets the minimum trading functions that a swap execution facility must provide.　　Under the proposal, a swap execution facility, or SEF, would no longer have to offer an order book for permitted transactions. The change would not prevent a platform from keeping the service when its customers use it, but each SEF could decide whether the costs and resources are justified.　　Current rules require every registered SEF to maintain an order book for all swaps listed on the platform, including products that traders may execute through other methods. According to the commission, market participants have rarely chosen order books when trading permitted transactions, even though the facilities remain available.　　“Today‘s action continues the agency’s commitment to prescribing the minimum effective dose of regulation for market participants,” CFTC Chair Michael Selig said.　　Selig added that removing what he called “excessive requirements” would keep the commission aligned with its principles-based approach to derivatives regulation.　　CFTC proposal separates two

08-21Industry

Asian Stocks Slide on Bond Stress: Will Safe Havens BTC and Gold Keep Rallying？

Most Asian share indices are headed for weekly losses as bond market stress persists. However, Bitcoin (BTC) and gold both rallied as investors reached for safe havens instead.　　The moves reflect a broader flight from risk. Rising Treasury yields have hit stocks in Asia and the US this week. Traders are turning to assets seen as stores of value.　　Sponsored　　Sponsored　　Asian Markets Buckle on Bond Stress　　Japan‘s Nikkei dropped 0.8% to open Friday’s trading. That extended its weekly loss to 4.4% before clawing a little back.　　The Nikkei is down, mirroring US indexes. Image Source: Trading View　　South Korea and Taiwan edged higher Friday. Both still finished the week lower, after a sharp Kospi sidecar halt earlier in the week. The broader MSCI Asia-Pacific index outside Japan managed only a 0.5% gain.　　The sell-off traces back to US Treasury yields. They resumed climbing this week after a brief pause. The 30-year yield rose to 5.25%, and the 10-year hit 4.71%.　　Secretary Scott Bessent said the government could expand bond repurchases. He also floated fiscal consolidation. Analysts doubt Washington can find enough spending cuts to narrow the deficit.　　Sponsored　　Sponsored　　The deficit is running above 6% of GDP. Interest payments alone are set to top $1.2 trillion this year.　　“Historically, markets have pushed

08-21Industry

Franklin Templeton gets SEC clearance to add BENJI to ETFs

Franklin Templeton has secured U.S. regulatory clearance that could place its $726 million tokenized money-market fund inside conventional mutual funds and ETFs as early as the fourth quarter.　　SummaryFranklin funds may use BENJI as a portfolio holding, cash position or collateral.The SEC relief covers custody rules under the Investment Company Act of 1940.Fund boards must approve the arrangement before individual products can adopt it.Franklin expects implementation as early as the fourth quarter, with an earlier start possible.　　SEC clearance allows Franklin funds to hold BENJI　　The U.S. Securities and Exchange Commission‘s Division of Investment Management said in an Aug. 12 letter that it would not recommend enforcement action if Franklin Templeton’s registered funds hold shares of the Franklin OnChain U.S. Government Money Fund under the proposed custody arrangement.　　Known by the ticker FOBXX, the money-market fund records eligible share transactions on public blockchains, with each BENJI token representing one fund share. Its portfolio consists mainly of U.S. government securities, cash, and repurchase agreements backed by government securities or cash.　　The relief applies to Section 17(f) of the Investment Company Act of 1940 and Rule 17f-2, which govern how registered investment companies safeguard assets. Several requirements in the rule were developed for physical securities, including provisions

08-21Industry

Ex-Fed Chief Dudley Warns Stocks Are in Bubble Territory as Treasury Boosts Buybacks

Bill Dudley, a former president of the Federal Reserve Bank of New York, says the US stock market is in bubble territory, pointing to stretched valuations and a slowing artificial intelligence (AI) investment cycle.　　Dudley made the comments on Bloomberg Television this week, as Treasury Secretary Scott Bessent moves to contain a sharp rise in long-term bond yields.　　Sponsored　　Sponsored　　Stretched Valuations Underpin the Bubble Call　　Dudley pointed to the Shiller CAPE ratio, the Shiller cyclically adjusted price-to-earnings (CAPE) ratio, which sits near 41. That compares with a 25 to 30-year average of about 17, and a record of 44 set in December 1999. In simple terms, investors are paying far more for each dollar of company earnings than history suggests is safe.　　He also cited the Buffett Indicator, the ratio of stock market value to gross domestic product (GDP), which stands around 240%. Warren Buffett has said readings above 100% signal an overvalued market. This indicator is suggesting the stock market is strongly overvalued.　　The Buffet Indicator is pointing to a severely overvalued stock market. Image Source: Long Term TrendsAI Spending Faces a Slowdown　　Dudley expects capital expenditure (capex) growth among AI hyperscalers, the large cloud providers building AI infrastructure, to decelerate in 2027. That would squeeze

08-21Industry

Tensions Flare as CME, Kalshi Execs Clash Over Prediction Markets in DC

In briefCME Group Chairman Terry Duffy and Kalshi co-founder Luana Lopes Lara clashed during a CFTC roundtable in Washington, D.C.Duffy singled out Kalshi while questioning whether prediction markets face the same regulatory scrutiny as established exchanges.The clash comes amid a fight between federal and state regulators over prediction markets.　　A CFTC roundtable on prediction markets turned heated Thursday when CME Group Chairman Terry Duffy and Kalshi co-founder Luana Lopes Lara traded insults over market manipulation and regulation.　　The confrontation unfolded during a Commodity Futures Trading Commission meeting in Washington, D.C., as executives from traditional finance, crypto, and prediction markets debated how event contracts should be regulated.　　Myriad: Will the Clarity Act be signed into law in 2026？ Click to make your prediction.　　Duffy, whose CME Group operates the worlds largest futures exchange by volume, said he was “a lot concerned” about prediction markets and argued that some contracts are susceptible to manipulation.　　“Were not a bunch of carnival barkers at a circus,” Duffy said. “We are running the most envious markets in the world in the United States of America.”　　Duffy then took aim at the types of contracts Kalshi offers, mocking one in particular.　　“Theres another really economic contract that has been massively important for the

08-21Industry

Ex-FBI Officer is Watching Every Polymarket Trader, Says CEO Coplan

Polymarket pays a former FBI staffer to watch its traders full time. Chief executive Shayne Coplan revealed the role to US regulators on Thursday.　　He spoke at the first meeting of the Commodity Futures Trading Commissions Innovation Advisory Committee. His message was blunt. Polymarket users have almost no privacy.　　Sponsored　　Sponsored　　Polymarket Surveillance Goes Further Than the Company Says　　Coplan described the hire while defending his platform in Washington.　　“We have someone here right now who… is ex-FBI who works full-time at Polymarket.”　　That staffer built custom surveillance software in-house, he said. Outside firms were impressed it was not outsourced.　　The detail is new. Polymarkets public integrity page names Chainalysis and Palantir as partners. It never mentions building tools of its own.　　Coplan knew the news would sting. He said some users would be upset to hear it.　　Sponsored　　Sponsored　　Subscribe to our YouTube channel to watch leaders and journalists provide expert insights　　The Numbers Behind the Monitoring　　Polymarket reports handing 315 or more wallet records to authorities. It also claims 90 or more account referrals and two arrests. The company gives no date for those totals.　　Two traders learned what that means this year. In April, the CFTC charged Army Master Sgt. Gannon Ken Van Dyke over the Nicolas Maduro market.　　He bought more than

08-21Industry

Bitcoin Rewarded 1 of 2 US Interventions. Bessent Just Promised More

Bitcoin (BTC) has traded through two US market interventions in under three weeks. It moved the opposite way each time. Support for the yen pushed it down. An attack on long yields lifted it 8.8%.　　Treasury Secretary Scott Bessent went further on Thursday. He said buybacks could exceed $4 billion per issue and would become routine, while denying that rates drove the decision.　　???????? US TREASURY SECRETARY SCOTT BESSENT JUST NOW:　　1. The Treasury will do buybacks routinely.　　2. Buybacks could be more than $4 billion, and part of this is about sending a signal to the market.　　3. He will probably announce a bigger push to cut the deficit.　　4. There is nothing…　　— Bull Theory (@BullTheoryio) August 20, 2026　　Follow us on X to get the latest news as it happens　　Sponsored　　Sponsored　　Two Interventions, Two Opposite Bitcoin Reactions　　The pattern is narrower than it looks. Bitcoin does not reward intervention itself. It rewards the intervention that lowers long-dated US borrowing costs.　　The first landed at the start of August. Japan bought its own currency with an estimated $53 billion. The New York Fed then bought yen for the Treasury on August 1.　　Washington had not bought yen since 1998. Bitcoin still slipped toward $63,000, down 1.25%, while US stocks closed higher.　　Leverage

08-21Industry

MicroStrategy Erases 2-Month Loss as Crypto Stocks Rally: Is the Damage Over？

Strategy, the company once called MicroStrategy (MSTR), rose 6.9% to $111.14 on Thursday afternoon. That is its best price since June 18, which wipes out a two-month slide.　　The stock market has forgiven the company. The balance sheet has not. MicroStrategys Bitcoin is still worth billions less than it paid.　　MicroStrategy (MSTR) Stock Performance. Source: Yahoo Finance　　Sponsored　　Sponsored　　How MicroStrategy Clawed Back Two Months　　MSTR traded at $111.45 as of 3.05 p.m. ET, up 6.91% from Wednesdays $104.25 close. The shares had bottomed at $81.81 in late June.　　That is a 35.9% climb off the floor. July never produced a close above $101.95, so Thursdays move clears the whole summer.　　The fuel came from Bitcoin topping $70,000, marking the first time in 78 days. The token had not held that level since early June.　　Two decisions in Washington did the heavy lifting. On Wednesday the Treasury doubled the size of its long-end bond buybacks. Each operation will now buy at least $4 billion from Sept. 9.　　A day earlier, the Securities and Exchange Commission (SEC) proposed Regulation Crypto Assets. The rule would let crypto firms raise up to $75 million a year without full registration.　　Short sellers were caught out. Traders covered roughly $1.5 billion of bearish bets, including $700

08-21Industry

Anthropic IPO May Top SpaceX Record: Will It Raise $100 Billion？

Anthropic expects its stock market debut to match or beat the largest listing in history, according to people familiar with the matter. The bar is SpaceX, and it sits at $85.7 billion.　　The Claude developer could file publicly for the offering as soon as the end of August. Chief Financial Officer Krishna Rao sidestepped valuation questions during recent investor briefings, the people said.　　Sponsored　　Sponsored　　The Anthropic IPO Bar Sits at $85.7 Billion　　SpaceX sold shares at $135 each in June and raised $75 billion. Underwriters then exercised an option on 83.3 million more shares on June 15. That lifted the total to $85.7 billion.　　The scale is historic. Saudi Aramco had held the record since 2019 with $25.6 billion. Visas $17.9 billion in 2008 was the biggest US listing. SpaceX beat the three largest IPOs in history combined.　　Bloomberg first reported Anthropics ambition on Thursday. Beating SpaceX means clearing $85.7 billion. A $100 billion raise would sit roughly 17% above that line. No source has named a target.　　Anthropic expects to match or beat the size of SpaceX‘s record-setting initial public offering, according to people familiar with the matter, as preparations for the artificial intelligence firm’s debut pick up speed https://t.co/PJibk0Y1U7　　— Bloomberg (@business) August 20, 2026　　Anthropic Already

08-21Industry

Binance opens crypto trading to AI agents with user-set controls

Binance has launched Agent OS, a developer platform that allows AI agents to access market data, monitor user accounts and execute crypto trades on the exchange.　　According to a company announcement, the platform supports AI tools including ChatGPT, Claude Code, Codex, and Cursor, allowing users to authorize agents to view account information and place trades within configured permissions and limits.　　Users can assign agents to dedicated subaccounts to separate funds and trading activity, configure their permissions and revoke access at any time. Binance said it can monitor trades placed through Agent OS but cannot see an agent‘s external information sources, interpretation or decision-making, which occur within the user’s chosen AI application.　　Agent OS also connects agents to Binances payment and onchain tools, allowing them to make payments and interact with wallets and other onchain services.　　Related: Bitcoin miners pour billions into AI as capex outpaces revenue 15-to-1　　Crypto exchanges move deeper into AI agents　　Binance joins a growing group of crypto exchanges opening their trading infrastructure to AI agents.　　Coinbase launched Coinbase for Agents in June, allowing AI models including ChatGPT and Claude to connect to user accounts and autonomously execute crypto trades and strategies. The tool also supports agent-driven payments through Coinbases x402 protocol.Source: Coinbase　　Other exchanges

08-21Industry

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