Menu
MCAP $2.90T ▼-2.03%
BTC $84,544 ▲+0.25%
ETH $2,690 ▲+0.88%
BNB $780.68 ▲+1.86%
XRP $1.530 ▲+2.62%
SOL $117.46 ▲+2.82%
DOGE $0.0964 ▲+4.70%
ADA $0.248 ▲+4.12%
TRX $0.3404 ▲+0.06%
LINK $13.26 ▲+8.46%
AVAX $10.44 ▲+1.51%
HYPE $94.06 ▲+0.52%
DOT $1.170 ▲+6.63%

About Crypto Coin Show News Team

https://cryptocoinshow.com

The Crypto Coin Show News Team covers digital assets, blockchain infrastructure, markets and policy. Crypto Coin Show has been running for more than 12 years, with 1,500+ interviews with founders, investors and builders.

Posts by Crypto Coin Show:

Kalshi Klear asks CFTC to permit margin on event contracts

Kalshi Klear asks CFTC to permit margin on event contracts

, , , , , ,

Exchange NewsCrypto Coin Show News Team·September 22, 2026·3 min read

Kalshi has asked the Commodity Futures Trading Commission to let traders borrow money to open leveraged positions on its event contracts, a first for a regulated U.S. prediction market. The request, filed Tuesday (September 22) by Kalshi Klear, the exchange’s in-house clearinghouse, would extend Wall Street-style margin to a venue that currently requires full cash collateral on every trade.

  • Kalshi Klear submitted the filing on Tuesday, September 22, proposing a tiered margin system tied to a contract’s settlement date.
  • Kalshi’s annualized trading volume rose from $52 billion to $178 billion over the past six months, giving it more than 90% of U.S. prediction-market activity.
  • Margin would exclude sports contracts and “mention” markets, and would be limited to self-clearing members meeting set capital minimums.
  • 90%+ share of U.S. prediction-market volume Kalshi currently controls
  • $178B annualized trading volume, up from $52 billion six months earlier
  • $945M open interest tracked by DefiLlama across Kalshi’s markets

Right now, anyone holding a position on a regulated U.S. event-contract exchange must back it with cash covering the full trade value. Margin changes that math by letting a trader control a larger position than their own capital would otherwise allow, borrowing against it the way stock and derivatives traders routinely do.

Kalshi Klear Proposes Tiered Margin Tied to Settlement Dates

Kalshi’s pitch, laid out in the filing, is that the all-cash requirement keeps institutional money out of contracts that settle months out. The company argues borrowing capacity would make those longer-dated markets economically worthwhile for large trading firms.

The proposed structure requires leveraged traders to post more collateral as a contract nears its settlement date, tightening the buffer over time rather than fixing it upfront. Sports contracts and Kalshi’s “culture” and mention markets are excluded entirely, according to the company’s filing.

A company spokesperson said borrowing would be available only to self-clearing members that meet capital minimums through a direct relationship with Kalshi Klear.

Coindesk Analysis Finds Repeat-Sized Trades Behind Over Half of Crypto Perp Volume

Kalshi’s headline numbers look formidable on their surface. DefiLlama data puts open interest above $945 million and 30-day off-chain volume above $12.7 billion, on top of the jump from $52 billion to $178 billion in annualized activity.

But a Coindesk analysis of Kalshi’s public trade records found that a handful of repeating trade sizes drove more than half the value on its bitcoin and ether perpetual-futures markets.

Between September 17 and September 20, trades within $2 of $5,499 made up $7.7 million, or 57%, of sampled ether-perp volume, while recurring trades of roughly $2,500 and $5,000 accounted for 54% of sampled bitcoin activity.

The same analysis found recurring fixed-dollar clips in 43 of 46 one-hour samples dating back to June 19, a pattern consistent with automated programs firing predetermined amounts rather than organic institutional flow.

That concentration matters more once margin enters the picture, since leverage would amplify whatever is actually driving that volume, whether it is diversified trading interest or a small number of repeating bots.

Connecticut and Michigan Litigation Explains Why Sports Are Excluded

The margin filing lands amid an expansion that has already pushed Kalshi well beyond simple yes-or-no event bets. It offers leverage on perpetual futures that have done over $44 billion in notional volume since debuting in crypto in late May, and it cleared the CFTC this month to launch gold and silver perps, with filings pending for U.S. equities, copper and foreign currencies.

That buildout, alongside a new professional trading terminal, positions Kalshi as part of a broader push to route institutional capital into onchain and adjacent markets.

Sports contracts are conspicuously absent from the margin request, and the litigation explains why. Connecticut sued Kalshi in August over its labeling of sports contracts as federally protected derivatives rather than unlicensed betting, and a Michigan judge signed an order on September 1 threatening penalties of up to $500,000 a day if the exchange keeps offering sports markets in that state.

New Jersey has taken the jurisdictional question to the Supreme Court, seeking a final ruling on whether the CFTC or individual states govern these contracts.

Kalshi is not alone in courting institutional flow. Rival Polymarket moved in July to secure licenses it would need to eventually offer margin on U.S. event contracts, while Kalshi has expanded abroad through partnerships with Alpaca and Wealthsimple to reach users outside the U.S. and in Canada.

The CCS read. The margin filing matters less for what it grants traders than for what Kalshi is signaling about its own volume base. If a meaningful share of crypto-perp activity is repeating, fixed-size trades rather than diversified institutional flow, leverage would magnify that concentration risk before it attracts the deep-pocketed hedgers Kalshi says it wants.

Get this in your inboxThe Crypto Coin Show newsletter covers the policy and market moves institutional crypto investors are pricing in.

Subscribe

SoFi Bank settles $25 billion card program entirely in SoFiUSD stablecoin

SoFi Bank settles $25 billion card program entirely in SoFiUSD stablecoin

, , , , , ,

BlockchainCrypto Coin Show News Team·September 22, 2026·3 min read

SoFi Bank has moved its entire $25 billion card program onto stablecoin settlement, becoming the first nationally chartered bank to settle transactions in its own token, SoFiUSD, across Mastercard’s global network. For institutional investors, the launch is a live test of whether a regulated US bank can run stablecoin rails at scale without pushing any new operational burden onto merchants.

  • SoFi is converting its full $25 billion card program to settlement in SoFiUSD, its OCC-overseen bank-issued stablecoin.
  • The transition went live on Tuesday, six months after SoFi and Mastercard first announced their partnership in March.
  • SoFiUSD is redeemable 1:1 for US dollars and backed mostly by cash reserves, per the company.
  • $25B full size of SoFi’s card program now settling in SoFiUSD
  • 6 mo. gap between March partnership deal and Tuesday’s go-live
  • 1:1 SoFiUSD redemption ratio backed mostly by cash reserves

SoFi Bank said merchants accepting its cards will not have to hold stablecoins, build new infrastructure, or alter how they operate to receive settlement in SoFiUSD, according to its report on the launch. Debit and credit transactions on the $25 billion program now settle on Mastercard’s global payments network through the token rather than traditional rails.

Anthony Noto Says Merchants Get Cash With No New Setup

SoFi CEO Anthony Noto framed the launch as a settlement-speed upgrade rather than a product merchants need to adopt directly. Any merchant on SoFi’s Big Business Banking platform can receive settlement funds instantly into a SoFi Bank account and withdraw them as cash, free of charge, around the clock.

Merchants do not need to hold stablecoins, build new infrastructure, or change how they operate. That means businesses have faster access to their money via the speed of blockchain, with the safeguards of a bank.

Anthony Noto, CEO, SoFi

SoFi said it is in active discussions with major US merchants about settling through stablecoins directly, spanning large multinational retailers and technology service platforms. That pipeline suggests the zero-friction pitch to card-accepting businesses is a bridge toward direct stablecoin adoption by larger counterparties, not the end state.

First National Bank on Mastercard’s Stablecoin Rail

SoFi Bank, N.A. issues SoFiUSD as a nationally chartered institution regulated by the Office of the Comptroller of the Currency, distinguishing it from stablecoins issued by non-bank entities. The token is redeemable 1:1 for dollars and backed primarily by cash reserves, and SoFi says it is the first stablecoin issued by a nationally chartered bank.

Mastercard opened its card settlement infrastructure to SoFiUSD and other stablecoins in June, laying the groundwork for Tuesday’s launch. The March partnership announcement to a live production rollout took six months.

Mastercard’s Sherri Haymond, its Global Head of Digital Commercialization, said stablecoins matter only when they address problems merchants already face, positioning the SoFi rollout as a commercial use case rather than a speculative pilot.

Kraken Listing and Cross-Border Push Come Next

Kraken listed SoFiUSD earlier this month, giving the token secondary-market liquidity before its Mastercard settlement role went fully live. SoFi and Mastercard also said they will explore cross-border payments and remittances routed through SoFiUSD on the network, a use case that would test the token beyond domestic card settlement.

SoFi’s advantage is scale already in place: a $25 billion existing card book converting in one move, rather than a new product waiting on adoption.

The CCS read. The real signal here is not the merchant messaging but the bank charter. An OCC-regulated issuer running $25 billion in card settlement through its own token gives compliance teams at other banks a working template to point to when they build their own stablecoin cases internally, well before regulators force the question.

SoFi has not set a timeline for converting the merchants it is in active talks with to direct stablecoin settlement, leaving that expansion, and the cross-border remittance pilot with Mastercard, as the next milestones to watch.

Get this in your inboxThe Crypto Coin Show newsletter covers the policy and market moves institutional crypto investors are pricing in.

Subscribe

Animoca and Currenc suspend merger talks over market timing mismatch

Animoca and Currenc suspend merger talks over market timing mismatch

, , , , , ,

BlockchainCrypto Coin Show News Team·September 22, 2026·3 min read

Animoca Brands and Currenc Group have mutually suspended talks on their proposed reverse merger, telling investors Tuesday that the timeline needed to close no longer matches near-term market conditions. The pause leaves Animoca, delisted from the Australian Securities Exchange in 2020, without its fastest route back onto a major public market.

  • The deal, first proposed via a non-binding term sheet on November 3, 2025, would have given Animoca shareholders roughly 95% of the combined company.
  • Currenc investors would have held just 5% of the merged entity, which was set to retain the Animoca Brands name.
  • Both firms say they may revisit the tie-up “if and when conditions permit,” leaving the door open rather than killing the deal outright.
  • 95% share Animoca holders would have taken versus Currenc’s 5%
  • 600+ digital-asset companies in the portfolio Nasdaq investors would have gained
  • 2020 year Animoca was delisted from the Australian Securities Exchange

Animoca Brands and Currenc Group (NASDAQ: CURR) said in a joint statement on Animoca’s website that a review found the time still required to close the transaction no longer fit “evolving market conditions.” For institutional investors tracking crypto-adjacent equities, the halt removes, at least temporarily, one of the few pending paths for a large private Web3 holding company to reach a US-listed shell.

Merger Would Have Handed Animoca 95% of a Nasdaq Shell

Currenc first announced the proposed reverse merger on November 3, 2025, structured as an acquisition of all Animoca shares through an Australian scheme of arrangement. Under the original terms, Animoca shareholders would have ended up with about 95% of the combined company against roughly 5% for existing Currenc holders, a split that would have effectively made Currenc the listing vehicle for Animoca’s operations.

The merged company would have kept the Animoca Brands name. It would also have given Nasdaq investors indirect exposure to a portfolio spanning more than 600 digital-asset companies.

In May, Currenc said closing was targeted for the third quarter of 2026, after both sides extended an exclusivity window through June 30, 2026 and set a long-stop date of December 31. That runway proved insufficient once the companies’ review flagged the misalignment between the remaining deal timeline and current conditions, according to the joint statement.

Siu Points to Audit Work as Animoca Keeps Options Open

Animoca co-founder and executive chairman Yat Siu has said the company will continue pursuing routes to a public listing as it works through the audit and compliance steps a major exchange demands.

continue to pursue optimal routes to a public listing

Yat Siu, co-founder and executive chairman, Animoca Brands

Animoca published its 2023 annual audit on July 17, its second such release in 2026, and said preparation for the 2024 audit is underway. The company was convicted and fined by Australia’s securities regulator in 2022 over unlodged annual reports covering 2019 through 2021.

Currenc Keeps Tokenizing Shares Without Animoca

Currenc has continued building its own tokenization business independent of the merger talks. In April, it became one of the first Nasdaq-listed firms to put its own ordinary shares on-chain, tokenizing CURR stock on Ethereum and Solana through Securitize. Earlier this month, its Currenc Capital subsidiary signed a consulting agreement to help Nasdaq-listed Mint tokenize a portion of its shares.

That environment gives Animoca more potential paths to a listing than it had in 2020, even without the Currenc shell.

The CCS read. Currenc walks away with a working tokenization business and a Mint consulting deal, so the suspended merger costs it little. Animoca loses its shortcut but keeps its audit work moving, meaning any future listing attempt will likely come through a fresh vehicle rather than a revived Currenc deal, once compliance catches up to ambition.

Neither company has set a new date for resuming talks, and the joint statement conditions any revival on unspecified market conditions improving. The next signal to watch is Animoca’s 2024 audit, now in preparation, which Siu has framed as the prerequisite for any fresh push toward a public listing.

Get this in your inboxThe Crypto Coin Show newsletter covers the policy and market moves institutional crypto investors are pricing in.

Subscribe

ECB-led central banks urge removal of MiCA’s 60% stablecoin reserve rule

ECB-led central banks urge removal of MiCA’s 60% stablecoin reserve rule

, , , , , ,

BlockchainCrypto Coin Show News Team·September 22, 2026·3 min read

The European System of Central Banks wants Brussels to delete a MiCA rule that forces large stablecoin issuers to park 60% of their reserves in commercial bank deposits, the exact clause that led Tether to skip EU licensing altogether. For institutional investors, the outcome will determine whether euro-area banks or crypto issuers bear the funding risk of the bloc’s fastest-growing stablecoin market.

  • The ESCB, grouping the ECB with all 27 national central banks, filed its comments on Tuesday, September 22, 2026.
  • MiCA currently requires ordinary stablecoin issuers to hold 30% of reserves in bank deposits and “significant” issuers to hold 60%.
  • The European Commission’s consultation on the change closes September 30, 2026, just over a week away.
  • 60% reserve deposit floor imposed on large stablecoin issuers under MiCA
  • 30% baseline deposit floor for standard issuers, half the top tier
  • Sep 30 closing date for the Commission’s review of the rule

The filing lands inside the European Commission’s formal review of MiCA, the bloc’s crypto rulebook, and directly targets a provision Tether has cited as its reason for staying outside the regime.

Stablecoins now underpin much of the payment infrastructure crypto markets run on, from retail settlement to machine-to-machine transactions, which is why a reserve rule buried in MiCA’s technical annex carries weight far beyond Brussels.

ESCB Tells Brussels to Scrap the 60% Bank Deposit Floor

The central banks argue that money tied to token issuance and redemption is not the kind of stable funding banks depend on. Heavy redemptions, the filing said, could drain that money from lenders overnight, exactly when banks need it most. The rule under scrutiny sits in MiCA, which sets how issuers must invest the cash and bonds backing every token in circulation.

In place of the fixed deposit floors, the ESCB wants a minimum share of reserves held in assets that mature within one to five working days. The same submission, first flagged in a post on X citing Reuters, said regulators face “material challenges” policing the rules because non-compliant crypto firms still reach EU customers.

The ECB has separately warned that expanding euro stablecoin issuance could squeeze bank lending capacity, a concern that predates this filing but reinforces its logic. Brussels now has two competing pressures on the same clause: banks that want less exposure to redemption swings, and issuers that want less exposure to bank balance sheets.

Tether Refused the Same Clause, Citing the €100,000 Deposit Insurance Cap

Tether, issuer of USDT, the largest stablecoin by market value, never applied for a MiCA license. Chief executive Paolo Ardoino has argued since 2024 that forcing reserves into bank deposits makes tokens less safe, not more, because EU deposit insurance stops at 100,000 euros.

When MiCA becomes safer for consumers and stablecoin issuers, then we might reconsider.

Paolo Ardoino, CEO, Tether

The two complaints point in opposite directions. Ardoino wants token holders shielded from bank failures; the ESCB wants banks shielded from token redemptions.

Circle’s Push and Revolut’s Retreat Set Up the Sep 30 Deadline

Revolut dropped USDT from its European offering this year, a sign issuers are already adjusting to MiCA’s compliance lines rather than waiting for a rewrite. BeInCrypto reported in July that rival issuer Circle was separately backing a MiCA amendment that could open a path for Tether to return to the bloc.

The 30% and 60% deposit floors remain binding law until EU lawmakers formally amend MiCA, regardless of what the ESCB’s comments recommend.

The CCS read. Whichever way this goes, the fight shows MiCA’s reserve rules were written for issuers holding balance sheets like banks, not issuers moving billions in redemptions daily. If Brussels grants the ESCB’s request, expect euro-area banks to lobby harder against any stablecoin issuer scaling deposits at their expense, and expect Circle’s push to matter more than Tether’s absence.

The European Commission’s consultation window closes September 30, 2026, and its next move will show whether central bank funding concerns or issuer liquidity concerns shape MiCA’s rewrite, with Tether still holding no EU authorization either way.

Get this in your inboxThe Crypto Coin Show newsletter covers the policy and market moves institutional crypto investors are pricing in.

Subscribe

Moscow Exchange rolls out perpetual futures for Bitcoin, Ethereum, Solana, XRP and Tron

Moscow Exchange rolls out perpetual futures for Bitcoin, Ethereum, Solana, XRP and Tron

, , , , , , , , ,

BlockchainCrypto Coin Show News Team·September 22, 2026·2 min read

Moscow Exchange launched perpetual futures on five major cryptocurrencies on Tuesday (September 22), letting qualified investors take continuous, cash-settled positions on Bitcoin, Ethereum, Solana, XRP and Tron without holding the underlying tokens. The contracts extend a derivatives business that has already logged more than 600 billion rubles in cumulative turnover from over 72,000 qualified investors.

  • MOEX listed BTCUSDF, ETHUSDF, SOLUSDF, XRPUSDF and TRXUSDF, each rolling over daily instead of expiring on a fixed date.
  • First-tier margin requirements range from 22% on Bitcoin to 43% on XRP, the highest of the five new contracts.
  • MOEX said on Sept. 16 that over 72,000 qualified investors have traded its crypto futures, with turnover exceeding 600 billion rubles.
  • 600B rubles in cumulative turnover on MOEX crypto futures to date
  • 72,000 qualified investors who have traded MOEX digital-asset futures
  • 43% initial margin required on XRPUSDF, the highest of five contracts

Moscow Exchange rolled out perpetual futures on five cryptocurrencies on Tuesday (September 22, 2026). The new contracts, BTCUSDF, ETHUSDF, SOLUSDF, XRPUSDF and TRXUSDF, track MOEX’s own dollar-denominated crypto indexes and settle profit and loss in rubles, first reported by CryptoSlate. Each position rolls over automatically at the end of every trading day, removing the need to manually renew the dated futures MOEX already offers.

MOEX Restricts the New Contracts to Qualified Investors Only

The contracts are cash-settled derivatives that never deliver Bitcoin, Ether or any other token to the holder. Investors gain price exposure purely through a regulated new contracts structure, with access limited to qualified investors, according to MOEX. Brokers then set the final trading terms available to individual clients, adding a second layer of eligibility on top of exchange-level rules.

Each contract lasts a single trading day before rolling automatically into the next, mimicking the open-ended exposure offered by perpetual swaps on global exchanges. MOEX set the funding parameters at K1 of 0% and K2 of 0.35%.

XRP’s 43% Margin Is Nearly Double Bitcoin’s 22%

MOEX set first-tier minimum margin at 22% for Bitcoin, 35% for Ether, 38% for Solana, 43% for XRP and 30% for Tron, the collateral traders must post relative to a position’s value. XRP’s requirement sits roughly double Bitcoin’s, a gap that signals how MOEX ranks relative volatility across the five underlying assets.

The exchange also capped position sizes through LK1 and LK2 concentration limits that vary sharply by contract, from 961 and 4,807 contracts on XRPUSDF to 124,490 and 622,450 on ETHUSDF, per the contract specifications on the MOEX page. Those figures are not directly comparable as measures of market exposure, since each contract carries a different notional value and specification.

Dated Futures Already Drew 72,000 Accounts Before the Perpetual Launch

MOEX said on Sept. 16 that more than 72,000 qualified investors had traded its existing dated crypto-index futures, with cumulative turnover surpassing 600 billion rubles. That base of active traders predates Tuesday’s perpetual launch, giving MOEX a ready pool of accounts to migrate toward the new products rather than building demand from zero.

MOEX has not disclosed how much of that turnover concentrated in Bitcoin versus the other four assets, or how quickly volume is expected to shift into the perpetual structure. The exchange’s push mirrors a broader pattern of institutions building onchain and derivatives infrastructure to formalize demand that already exists.

The CCS read. We read this less as Moscow chasing retail speculation and more as an exchange formalizing demand that already existed among sanctioned institutions locked out of CME and offshore dollar venues. The margin schedule, roughly doubling for XRP versus Bitcoin, signals M

Get this in your inboxThe Crypto Coin Show newsletter covers the policy and market moves institutional crypto investors are pricing in.

Subscribe

KalshiEX seeks SEC approval for perpetual futures on 58 US stocks and ETFs

KalshiEX seeks SEC approval for perpetual futures on 58 US stocks and ETFs

, , , , , , , ,

EquitiesCrypto Coin Show News Team·September 22, 2026·3 min read

KalshiEX has asked the Securities and Exchange Commission to approve listing standards for perpetual futures on 58 US stocks and exchange-traded funds, a structure borrowed directly from crypto trading venues. The filing, published September 18, under File No. SR-KALSHIEX-2026-02, does not put any contracts live and still requires separate sign-off from the Commodity Futures Trading Commission.

  • KalshiEX filed proposed listing standards for perpetual security futures tied to 58 stocks and ETFs.
  • The filing was published September 18, 2026 under SEC File No. SR-KALSHIEX-2026-02.
  • The CFTC has not approved the rule change, and no contracts are trading yet.
  • 58 stocks and ETFs named in the proposed rule filing
  • Sep 18 filing date
  • 2026-02 SEC file number assigned to the filing

KalshiEX filed the proposal. The document sets out listing standards for perpetual security futures on 58 named stocks and ETFs, contracts that would trade without a fixed expiration date, unlike the standard options and futures products currently available on US equities.

Kalshi Targets 58 Stocks and ETFs for Perpetual Contracts

Perpetual futures are already a core instrument in crypto markets, where positions stay open indefinitely and a funding-rate mechanism keeps contract prices tethered to the underlying spot asset. No US equity venue currently offers that structure on individual stocks, which makes KalshiEX’s proposal, detailed in the filing submitted to the SEC, a notable attempt to import crypto-market plumbing into regulated equity trading.

The 58 names covered by the proposal give the filing scale beyond a pilot program, though the document itself functions only as a regulatory framework. It does not activate trading, set a launch date, or guarantee that all 58 instruments will eventually list.

CFTC Sign-Off Still Missing, So Nothing Is Trading

The filing explicitly states that the CFTC has not yet approved the proposed rule change, which matters because perpetual futures on securities sit at the intersection of SEC and CFTC jurisdiction. That dual-regulator dependency is the clearest reason the September 18 filing should not be read as a product launch.

KalshiEX has cleared only the first procedural step. Trading cannot begin until the CFTC completes its own review, a timeline the filing does not specify.

Approval Would Blur Prediction Markets and Derivatives Trading

If the CFTC ultimately approves the structure, KalshiEX would be operating a hybrid that sits between a prediction-market platform, a traditional derivatives exchange and a crypto-style perpetual venue. That convergence echoes a broader push to bring tokenized and crypto-native trading mechanics onto regulated US market infrastructure, a trend also visible in efforts to bring tokenized stocks into DeFi.

The regulatory backdrop is also shifting. Congress has been working through market-structure legislation described in our coverage of the CLARITY Act’s window, and policy discussions from the White House crypto summit have touched on how derivatives products bridging crypto and traditional markets should be treated.

The CCS read. The interesting signal here is not the 58 tickers but the docket number itself: a second SEC filing in a single year suggests KalshiEX is treating perpetual-style products as a repeatable business line, not a one-off experiment. Institutional desks should watch whether the CFTC’s eventual review sets a template other exchanges can copy, since that precedent matters more than any single stock on the list.

The next concrete step belongs to the CFTC, which must act on the proposed rule change before any of the 58 contracts can list. Until that approval lands, KalshiEX’s perpetual security futures remain a filed proposal rather than a tradable product.

Get this in your inboxThe Crypto Coin Show newsletter covers the policy and market moves institutional crypto investors are pricing in.

Subscribe

DOJ probes whether Binance knowingly processed Iran sanctions-linked trades

DOJ probes whether Binance knowingly processed Iran sanctions-linked trades

, , , , , , ,

Exchange NewsCrypto Coin Show News Team·September 22, 2026·1 min read

Federal prosecutors are examining whether Binance knowingly processed trades tied to Iran, a probe that lands on an exchange still controlling 38.7% of trading volume among the top ten centralized platforms. For institutional investors already tightening compliance screens on custodians, the inquiry arrives as Washington moves to treat crypto itself as a sanctionable sector.

  • The Manhattan U.S. Attorney’s Office and the DOJ Criminal Division are jointly investigating whether Binance knowingly served Iran-based traders, Reuters reported.
  • SDNY filed a civil forfeiture complaint for about $61 million tied to a network prosecutors say moved more than $1.5 billion in sanctioned Iranian oil proceeds.
  • Binance says its exposure to four major Iranian exchanges fell 97.3% over two years, from $4.19 million to $110,000, while a Coinbase/EY-Parthenon survey found 66% of institutions now cite compliance as a top custodian criterion, up from 25% a year earlier.
  • 38.7% Binance’s share of top-10 exchange trading volume
  • $61M SDNY forfeiture target versus $1.5B Iranian oil network
  • 66% institutions naming compliance a top custody factor, up from 25%

    • </

    Get this in your inboxThe Crypto Coin Show newsletter covers the policy and market moves institutional crypto investors are pricing in.

    Subscribe

REX launches 2x leveraged ETF tracking Strive stock, not Bitcoin

REX launches 2x leveraged ETF tracking Strive stock, not Bitcoin

, , , , , , , ,

BitcoinCrypto Coin Show News Team·September 22, 2026·2 min read

REX Shares has listed a leveraged exchange-traded fund that tracks Strive Asset Management stock rather than Bitcoin itself, giving traders a new way to bet on a corporate Bitcoin treasury without touching the coin directly. The product’s 2x daily reset structure means it can diverge sharply from Strive’s actual stock performance over any period longer than a single trading day.

  • REX Shares launched the T-REX 2X Long Strive Daily Target ETF under ticker ASSX, targeting 200% of Strive’s daily stock return.
  • Strive Asset Management holds 26,355 BTC on its corporate balance sheet, tying its equity to both operations and Bitcoin’s market value.
  • ASSX is a single-stock leveraged ETF, not a spot Bitcoin fund, and its exposure resets every trading day rather than compounding over time.
  • 200% Daily leverage target versus Strive’s unlevered stock return
  • 26,355 BTC held by Strive versus zero direct Bitcoin exposure in ASSX
  • 2x Daily reset factor that can erode returns versus a simple double over weeks or months

REX Shares has launched the T-REX 2X Long Strive Daily Target ETF, trading under ticker ASSX and seeking 200% of the daily performance of Strive Asset Management shares. The listing arrives as public companies with large crypto treasuries increasingly become the raw material for derivative products rather than the endpoint of investor demand.

Strive’s 26,355 BTC Treasury Becomes Leverage Fuel

Strive’s balance sheet carries 26,355 BTC, a holding that makes its equity move with both its core business and Bitcoin’s price swings. ASSX layers daily leverage on top of that already Bitcoin-sensitive stock, amplifying moves in Strive shares rather than in BTC itself.

That distinction matters for anyone assuming ASSX behaves like a leveraged Bitcoin product. The fund’s reference security is Strive stock (ticker ASST), and the fund resets its 2x objective each trading day.

Daily Reset Structure Separates ASSX From Doubling Strive’s Return

Because ASSX targets 200% of Strive’s daily move rather than its cumulative move, compounding and volatility can push longer-horizon returns well away from a straight double of Strive’s stock performance. A stock that swings sharply day to day, even if it ends flat over a month, can produce a leveraged ETF that loses value over the same stretch.

That volatility risk sits on top of two others: single-stock concentration in Strive alone, and exposure to Strive’s corporate structure as a Bitcoin treasury company rather than to Bitcoin’s spot price.

Bitcoin Treasury Stocks Keep Spawning Second-Order Products

ASSX is not an isolated launch. As more public companies adopt large crypto treasuries, their equities are becoming building blocks for options, leveraged ETFs and other derivatives layered on top.

Strive joins a growing list of treasury-holding firms whose stock now trades as a proxy asset class in its own right, separate from the coins backing the balance sheet.

The CCS read. The real signal here is not Strive’s Bitcoin stack but Wall Street’s appetite for wrapping treasury-company equity in leverage products. Expect issuers to keep targeting other Bitcoin treasury stocks with similar single-name leveraged ETFs, testing demand for amplified corporate proxies well before demand for the underlying coin itself shows any comparable structural growth.

Traders watching the space will look to Cboe’s listing activity for the next single-stock leveraged filing tied to a crypto treasury firm.

Get this in your inboxThe Crypto Coin Show newsletter covers the policy and market moves institutional crypto investors are pricing in.

Subscribe

Centrifuge tokenizes New York Life’s high-yield bond strategy on Avalanche

Centrifuge tokenizes New York Life’s high-yield bond strategy on Avalanche

, , , , , , ,

DeFiCrypto Coin Show News Team·September 22, 2026·3 min read

New York Life Investment Management is moving a US high-yield corporate bond strategy onto Avalanche through a partnership with tokenization firm Centrifuge, restricting access to qualified institutional buyers who will subscribe and redeem using USDC. The deal extends blockchain-based fund infrastructure beyond the Treasury products that have dominated tokenization to date, pulling actively managed credit onto public rails from a manager overseeing more than $300 billion in assets.

  • NYLIM, which manages over $300 billion in assets, is tokenizing a high-yield corporate bond strategy with Centrifuge.
  • The product runs on Avalanche, with subscriptions and redemptions settled in USDC rather than traditional cash transfers.
  • Access is limited to qualified institutional buyers, not retail investors, under the terms of the September 17 announcement.
  • $300B NYLIM’s total assets under management behind the pilot
  • Sep 17 date the tokenization partnership was announced
  • USDC stablecoin used for fund subscriptions and redemptions

New York Life Investment Management is taking one of its fixed-income strategies onchain, partnering with Centrifuge to tokenize a US high-yield corporate bond product, according to a report by newsbtc.com. The firms confirmed the plan will run on Avalanche, with qualified institutional buyers able to move in and out of the fund using USDC instead of wire transfers.

This is not a retail crypto play. Centrifuge is supplying tokenization infrastructure around an institutional strategy that NYLIM already manages through traditional channels.

NYLIM Brings $300 Billion in Assets to an Onchain Test

NYLIM oversees more than $300 billion in assets, a scale that puts this pilot well beyond the boutique asset managers that have driven most tokenization experiments to date. Using Avalanche gives the fund a blockchain settlement and ownership layer, while USDC acts as the digital-dollar rail for subscriptions and redemptions.

For institutions, that combination can compress the operational lag between committing cash and holding fund interests, particularly as tokenized products are increasingly designed to settle outside conventional market hours. The structure mirrors the mechanics behind tokenized Treasury funds, but applies them to a materially different asset class, according to the announcement from Centrifuge and NYLIM.

Access Stays Limited to Qualified Institutional Buyers

The product is not open to the public. Eligibility is restricted to qualified institutional buyers, a limitation that matters when gauging how far this tokenization effort actually reaches.

What stands out is the asset type moving onchain rather than the distribution model. Tokenized Treasury products have already become the clearest proof point for institutional blockchain adoption.

High-yield corporate bonds carry a different risk and return profile than government debt, and bringing them onto the same rails signals that tokenization is extending into actively managed credit rather than staying confined to cash-like instruments.

Efforts to route mainstream fund yield through blockchain infrastructure point to a broader pattern of asset managers testing where blockchain settlement adds value without changing who can buy in.

Centrifuge Adds a Major Manager to Its Credit Tokenization Roster

The September 17 announcement adds NYLIM to the group of established asset managers testing how conventional investment products can be issued and serviced on public blockchain rails. Centrifuge has built its business around structuring exactly this kind of institutional-grade tokenization, positioning itself as infrastructure rather than a consumer-facing product.

No timeline for launch, minimum investment size, or target fund capacity has been disclosed publicly beyond the partnership announcement itself. That leaves open how quickly qualified institutional buyers will actually deploy capital into the tokenized structure once it goes live.

The CCS read. The real signal here is not the blockchain plumbing but NYLIM’s willingness to let a $300 billion manager’s credit strategy touch public rails at all. If a high-yield fund settles cleanly in USDC on Avalanche, expect other credit managers to treat tokenized Treasuries as the warm-up act rather than the endpoint.

Neither NYLIM nor Centrifuge has disclosed a launch date, minimum ticket size, or expected fund capacity beyond the September 17 announcement, leaving the pace of institutional uptake as the open question heading into the product’s rollout.

Get this in your inboxThe Crypto Coin Show newsletter covers the policy and market moves institutional crypto investors are pricing in.

Subscribe

Spaces launches Trust Anchor for blockchain-verified Bitcoin identities without intermediaries

Spaces launches Trust Anchor for blockchain-verified Bitcoin identities without intermediaries

, , , , , , ,

BitcoinCrypto Coin Show News Team·September 22, 2026·1 min read

Spaces has launched Trust Anchor, letting wallets and apps confirm human-readable Bitcoin identities such as alice@bitcoin directly against the blockchain instead of through a company-run resolver. Separately, Spaces released version 0.4.2 on September 16, 2026, which puts the protocol’s off-chain issuance system on Bitcoin’s mainnet for the first time, with the handle @bitcoin as its first production operator.

  • The Trust ID credential stays valid for 14 days before a wallet needs to rescan it to add contacts or catch a rotated key.
  • Spaces sells @bitcoin handles at a flat $25 on a first-come, first-served basis, with no revocation, rerouting or recovery once issued.
  • A Princeton study of the earlier Namecoin system found only 28 of roughly 120,000 registered names avoided being squatted.
  • $25 flat @bitcoin handle price, sold first-come
  • 14 days Trust ID validity window before wallets must rescan it
  • $979B Q1 2026 global retail crypto volume, down 11% year over year

Spaces, a protocol that attaches human-readable names to B

Get this in your inboxThe Crypto Coin Show newsletter covers the policy and market moves institutional crypto investors are pricing in.

Subscribe

Load More