Company
Bitnomial Exchange is a CFTC-regulated US derivatives exchange and clearinghouse offering futures contracts, including on bitcoin.
Hyperliquid CEO Jeff Yan wants US regulators to oversee the firms deploying markets on its chain, each of which must stake 500,000 HYPE. Under his model the chain itself sits outside exchange-level rules, and the licence and the liability belong to each operator.
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Papertrade opens its HyperEVM perpetuals exchange on Oct. 10 with leverage of up to 1000x. According to crypto.news, its house pool starts empty and fills from traders' losses, so profits it cannot cover wait in a queue.
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Aptos ends its four-year insider vesting on Oct. 12, cutting scheduled monthly APT releases about 60%, from 11.31 million tokens to 4.54 million. Every scheduled token from then goes to the Community and Foundation pools, so Foundation grant spending now sets most of the pace at which new APT reaches the market.
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Wells Fargo is in talks to source crypto trading liquidity from Payward, the $21 billion Kraken parent, two people told CoinDesk. A signed contract would let the bank offer crypto execution without building trading infrastructure and would put bank revenue behind Payward's price.
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Hyperliquid Labs confirmed its headquarters is in Singapore, while MAS says the decentralized derivatives venue sits outside its jurisdiction. Its traders rely on self-custody for protection, and Payward's plan for regulated Hyperliquid-based markets for eligible US customers still needs approval, crypto.news reported.
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CFTC proposed two crypto rules creating a narrower exchange license for leveraged, margined and financed trades, open to comment for 60 days. Plain spot trading falls outside the CFTC's authority, and officials say they cannot yet size that leftover market.
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Bloomberg has added 24-hour streaming prices for select Hyperliquid perpetuals, from a venue whose open interest crossed $18 billion in September. Desks can watch on-chain S&P 500 and crude prices beside the cash markets, but every trade still happens off the Terminal.
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Bitcoin twice topped $86,000 on Tuesday after the CFTC floated crypto rules, then slipped to $85,500, about 2.5% below its $87,722 yearly open. Liquidations shrank to $30 million on the day, so a quiet derivatives market goes into the upcoming consumer price report.
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CFTC staff let Coinbase Derivatives and Bitnomial strip expiry dates from 38 crypto futures, under relief that lapses on June 30. Only contracts on assets with deep spot markets qualify, so the underlying assets decide how many of the 38 convert.
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BNY is in talks with Kraken parent Payward, valued at $21 billion when Nasdaq invested, over a custody, trading and payments partnership, CoinDesk reported. Nothing is signed. One source compares the talks to the infrastructure half of Payward's Nasdaq agreement.
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Coinbase won CFTC registration for its own clearinghouse on September 28, ten months after applying, covering only fully collateralized contracts. Its margined book and planned stock perpetuals still clear through partners, so the leveraged trading that dominates crypto volume stays outside.
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OG.com Markets asked the CFTC to approve cash-settled perpetual futures on single US stocks, trading 24 hours a day on weekdays at a 15.05% minimum margin. At about 6 times leverage they would sell the trade margin accounts now offer, so brokers will pick the winning venue.
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Selected Hyperliquid perpetuals would trade inside a CFTC-regulated venue Payward bought for as much as $550 million, which is about 14% of one day of Hyperliquid volume. The contract list is the product.
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The cheque is small enough to read as a partnership fee, and it arrives with a surveillance contract, a 2027 token launch date, and a quarter in which Payward's adjusted EBITDA fell to $23m on $508m of revenue.
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Both venues want cash-settled contracts on the largest US listings, with funding payments in place of an expiry date, and because the underlyings are securities the products need the SEC as well as the CFTC.
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Payward's Bitnomial filing answers the market-structure question the CFTC already knows how to answer. The open item is the screening of a permissionless order book, and no answer to that question exists yet.
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Four deals in sixteen months put Payward into regulated futures, retail FX, listed derivatives and stablecoin payment rails. The competitive set is no longer spot crypto venues.
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