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SEC Options Market Review Signals Deeper Focus on Liquidity Quality Across Derivatives Markets

The SEC’s options market structure roundtable highlighted that even in mature derivatives markets, liquidity remains concentrated in a limited number of flagship contracts, while...

Clarity is finally here? Washington is getting closer to crypto fundraising rules

Washington is getting closer to a real framework for crypto fundraising. But the more interesting question is who the new rules will actually help...

China is treating digital finance like a sovereignty issue

Three recent China-related stories point in the same direction. Digital finance is being treated less like a loose technology trend and more like strategic...

Coinbase’s charter fight is about crypto’s banking entry point: which door lets crypto in?

Coinbase's charter headline looks simple at first glance. A crypto company got conditional approval for a national trust bank charter. We are happy. But...

Prediction markets are scaling before the law catches up

Prediction markets are growing faster than the legal system can define them. That is the real story right now. The category is moving into...

Crypto regulation in the U.S. is becoming a layered system

For a long time, the expectation was simple: eventually, the U.S. would produce one clear set of crypto rules. Well, that’s not what’s happening. Instead,...

Stablecoin yield is being pushed out of the banking frame and deeper into DeFi

Stablecoin yield is not going away. But it is being forced to migrate. That is the real takeaway from the latest U.S. policy fight,...

Washington State’s Kalshi lawsuit shows prediction markets are becoming a federal-state power struggle

When a platform wants to look like both a trading venue and a place where you can “bet on anything,” a legal fight is...

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