Bitpush editor's daily selected Web3 news:
【US CFTC Discusses Allowing Registered Futures Trading Platforms to Conduct Cryptocurrency Spot Contract Trading】
According to Bloomberg, the US Commodity Futures Trading Commission (CFTC) is exploring how to allow some registered futures trading platforms to list leveraged digital assets such as Bit and Ethereum.
CFTC Acting Chair Caroline Pham stated that the CFTC can now adopt a clear and simple solution. She mentioned a column article she published in March, suggesting that the agency could exercise its exemption rights to allow certain businesses to be exempt from current regulations—which currently only permit futures trading platforms to list derivative products.
The CFTC is now seeking public comments on cryptocurrency spot contract trading on registered futures trading platforms, with a deadline of August 18.
【US Federal Reserve's Daley: Rate Cut Timing Approaching, More Likely to Cut Rates More Than Twice This Year】
San Francisco Fed Chair Daley stated that given increasing evidence of a softening job market and no signs of persistent tariff inflation, the timing for rate cuts is approaching.
Commenting on the Fed's decision last week, Daley said, "I'm willing to wait another cycle, but I can't wait forever." While this doesn't mean September rate cuts are a done deal, she said: "I would tend to think that every meeting going forward is an immediate meeting to consider policy adjustments."
Daley noted that two 25 basis point rate cuts this year still seems appropriate, emphasizing that the important factor is whether cuts occur in September and December, not if they will happen. Daley said, "If inflation rises and spreads, or the labor market recovers, rate cuts could be fewer than twice, but it's more likely we'll need more than two cuts. If the labor market appears to be entering a soft phase and we don't see inflation spillover effects, we should be prepared for more rate cuts."
【Blockchain Lending Company Figure Submits IPO Application to SEC, Plans to Go Public This Year】
Blockchain lending company Figure Technology Solutions announced on Monday that it has submitted a confidential IPO (Initial Public Offering) application to the US Securities and Exchange Commission (SEC), planning to go public later this year.
Figure is a pioneer in the Real World Assets (RWA) space, having issued over $16 billion in home equity credit lines through its Provenance blockchain. Last month, the company also announced a merger with Figure Markets, a blockchain marketplace founded by Figure's founder Mike Cagney, and issued a yield-bearing stablecoin.
Figure's move echoes the latest trend in the crypto industry. Against the backdrop of continued prosperity in cryptocurrency and stock markets, more digital asset companies are seeking to go public. Previously, stablecoin issuer Circle saw its stock price surge on its first day of listing, and custody company BitGo, asset management company Grayscale, and trading platform Bullish have also submitted IPO applications.
【Barry Silbert Returns to Grayscale as Chairman, Will Drive Company's IPO Plans】
Grayscale simultaneously introduced four traditional finance executives: former Bridgewater executive Diana Zhang as COO, Apollo's former executive Ramona Boston as CMO, Goldman Sachs' former executive Andrea Williams as CCO, and Citadel's former executive Maxwell Rosenthal as CHRO.
【Perspective: "Crypto IPO Season" Approaching, Funds May Flow into Native Crypto Projects】
According to Forbes, Circle's successful IPO is encouraging other cryptocurrency companies to explore going public, as buying stocks of a listed company is far easier than participating in Curve Finance liquidity pools or trying to predict which Altcoin will rise 100 times in the future. Analysts believe "Crypto IPO Season" is imminent. While some critics worry that the crypto IPO boom might stifle the Altcoin market, those who think crypto IPOs will replace Altcoin projects only see half the picture. These stock listings are undoubtedly good news for Altcoins, as they mark crypto's widespread acceptance and legitimacy within the financial ecosystem.
【Coinbase CEO: US Government Will Hold Over $600 Billion in Bit Reserves】
Coinbase CEO Brian Armstrong stated at an industry conference that the US government will ultimately hold over $600 billion in Bit reserves, a prediction made during his forecast of cryptocurrency future trends. While the US government has previously held small amounts of Bit through seizures and sales, this prediction suggests that as Bit's position in the global financial system improves, the US government may more proactively incorporate Bit into its reserve assets.
Twitter: https://twitter.com/BitpushNewsCN
Bitpush TG Community: https://t.me/BitPushCommunity
Bitpush TG Subscription: https://t.me/bitpush
