The banks&#8217; stablecoin initiative could reshape financial competition, driving regulatory evolution and increased Wall Street crypto engagement. The post JPMorgan, Bank of America, Citigroup, and Wells Fargo explore joint stablecoin project appeared first on Crypto Briefing.

JPMorgan, Bank of America, Citigroup, and Wells Fargo explore joint stablecoin project

R3 announced a strategic collaboration with the Solana Foundation aimed at 
merging public and private blockchain networks to enhance institutional access 
to digital capital markets. This partnership will leverage R3’s enterprise- 
grade private blockchain technology alongside solana’s high-performance public 
mainnet, facilitating the integration of regulated financial institutions with 
tokenized real-world assets (RWAs). The initiative is expected […]

R3 and Solana Foundation Unite to Bridge TradFi and DeFi via Strategic Collaboration

Memecoins MOODENG, BUILDon and MOG are making waves again, all posting double- 
digit gains in the past 24 hours and showing bullish momentum. Moo Deng 
(MOODENG) is up 25% in the past 24 hours, currently trading at $0.30, with the 
trading…

Memecoins on the move today: MOODENG, BUILDOn, and MOG rally in double digits

A Danvers resident was convicted and sentenced for running an unregistered 
Bitcoin transmitting business that ignored federal anti-money laundering laws. 
A Danvers man was sentenced on Friday to six years in prison for running an 
unlicensed Bitcoin (BTC) money transmitting…

US federal court sends Danvers Bitcoin exchanger to prison for laundering over $1m

As the BTC price stays well above the $110,000 threshold, Matrixport reveals 
what makes this BTC bull rally different than the others that came before it. 
In a recent post, Matrixport analysts have noted the evident absence of retail 
investors…

BTC price holds up above $110k, Matrixport highlights what makes the ongoing rally unique

Hyperliquid, a decentralized perpetuals exchange operating on its own layer-1 
blockchain, has submitted formal comments on 24/7 derivatives trading to the 
United States Commodity Futures Trading Commission (CFTC).
In a May 23 X post, Hyperliquid Labs announced that it has &#8220;submitted two 
comment letters to the [CFTC] in response to its recent Requests for Comment 
on perpetual derivatives and 24/7 trading.&#8221; The team behind the decentralized 
exchange (DEX) added:
&gt; &#8220;We commend the CFTC for its proactive engagement on these topics, 
&gt; understanding of which is fundamental to the evolution of global markets.&#8221;
Hyperliquid stated that it is committed to the advancement of the 
decentralized finance (DeFi) space. The team also claimed that its 
implementation &#8220;exemplifies how core DeFi principles can be put into practice 
to enhance market efficiency, market integrity, and user protection.&#8221;
_Source:__Hyperliquid_
 _**Related:**__**CFTC exodus: Fourth commissioner to depart &#8216;later this 
year&#8217;**_
## CFTC&#8217;s 24/7 derivatives plans
Hyperliquid&#8217;s remarks follow CFTC Commissioner Summer Mersinger recently 
saying that crypto perpetual futures contracts could receive regulatory 
approval in the US &#8220;very soon.&#8221; Perpetual crypto futures &#8220;can come to market 
now,&#8221; she said.
&#8220;We&#8217;re seeing some applications, and I believe we&#8217;ll see some of those 
products trading live very soon,&#8221; Mersinger said. She also added that it would 
be &#8220;great to get that trading back onshore in the United States.&#8221;
Perpetual futures contracts are a type of derivative that allows traders to 
speculate on the price of a crypto asset without owning it, similar to 
traditional futures, but with no expiration date. Such contracts remain open 
indefinitely and are kept in line with the spot market price using a funding 
rate mechanism, where payments are exchanged between long and short positions 
at regular intervals.
_**Related:**__**CFTC commissioner will step down to become Blockchain 
Association CEO**_
## Crypto derivatives are a busy area
The crypto derivatives market has recently been swarming with announcements of 
product launches, acquisitions and regulatory developments. Coinbase CEO Brian 
Armstrong recently said the exchange will continue to look for merger and 
acquisition opportunities after acquiring crypto derivatives platform Deribit.
Armstrong&#8217;s remarks followed Coinbase&#8217;s agreement to acquire Deribit, one of 
the world&#8217;s biggest crypto derivatives trading platforms. Europe is seeing 
just as much hustle in the crypto derivatives industry as the Americas are.
Major crypto exchange Gemini has also recently received regulatory approval to 
expand crypto derivatives trading across Europe. Elsewhere, DeFi platform 
Synthetix will also venture further into crypto derivatives, with plans to re- 
acquire the crypto options platform Derive.
_**Magazine:**__**TradFi is building Ethereum L2s to tokenize trillions in 
RWAs: Inside story**_