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Navra Completes $19 Million Series A Funding, Led by Ribbit Capital
Navra has announced the completion of an oversubscribed $19 million Series A funding round, led by Ribbit Capital, with participation from Baseline, DCM, and others. Jump Crypto and Figure Technology Solutions are strategic investors. Navra primarily provides access to multiple blockchain venues through a single interface, with direct connections to DeFi yield protocols and cash ramps. It offers keyless self-custody services that meet qualified custody requirements, with built-in AI agents; the institutional version also supports enterprise team management and full audit trails.
ARK Invest Exec Suggests Hyperliquid Acquire Gemini to Position as Compliant HIP-3/4 Deployer in the U.S.
Odaily Planet Daily reported that Lorenzo Valente, Head of Digital Asset Research at investment firm ARK Invest, stated that Hyperliquid is in discussions with the CFTC and SEC to facilitate the offering of perpetual futures on its public chain by U.S.-regulated companies. He suggested that Hyperliquid acquire Gemini to position it as a U.S.-regulated HIP-3/4 deployer. He noted that Gemini's current market value is approximately $450 million, representing a decline of over 85% from its $3.3 billion valuation at the time of its 2025 IPO. Hyperliquid could obtain Gemini's entire U.S. regulatory infrastructure—including the NYDFS Trust Charter, DCM, DCO, FCM, MTLs, and Broker-dealer—for approximately $450 million.He further proposed that Hyperliquid could use approximately 7.9 million HYPE tokens from its community reserve, valued at around $550 million at $70 per token, to complete the acquisition at a premium of roughly 20% over Gemini's current market value. Following the transaction, Gemini would handle KYC, custody, fiat on/off ramps, brokerage, clearing, and compliance for the U.S. market, while Hyperliquid L1 would provide the underlying market infrastructure, liquidity, and on-chain settlement. He cited Polymarket's acquisition of QCEX as a similar precedent for re-entering the U.S. market, and stated that the core of this potential deal is not acquiring an exchange, but rather securing the regulatory bridge for HIP-3/4 to enter the U.S. market.
Prediction market Kalshi's trading volume surges to $24.2 billion during World Cup
: U.S. prediction market platform Kalshi experienced explosive growth during the 2026 World Cup, with platform trading volume soaring from $6.67 billion on June 22 to $24.2 billion on July 14. The single "World Cup Champion" prediction market saw trading volume exceed $1.2 billion. Kalshi stated that its growth reflects a new trend in the AI era: as the volume of AI-generated content increases substantially, authentic, real-time, and non-replicable human interaction scenarios are becoming scarcer, positioning prediction markets as a novel tool for observing public sentiment and collective judgment.Meanwhile, Kalshi is seeking to transform from a sports prediction platform into the next-generation financial trading infrastructure. The company currently holds Designated Contract Market (DCM) status recognized by the U.S. Commodity Futures Trading Commission (CFTC) and plans to expand into more prediction areas including sports, geopolitics, culture, and economics. (Fortune)
Kraken’s parent company completes acquisition of Bitnomial, expanding its presence in the U.S. crypto derivatives market
According to The Block, Payward, Kraken’s parent company, has announced the completion of its acquisition of Chicago-based crypto-native exchange Bitnomial, thereby obtaining a full suite of U.S. derivatives licenses from the Commodity Futures Trading Commission (CFTC), including Futures Commission Merchant (FCM), Designated Contract Market (DCM), and Derivatives Clearing Organization (DCO) licenses. Payward stated that it will first launch spot margin trading on Kraken, followed by perpetual contracts and options products, all available to eligible U.S. customers. This acquisition will also provide partners—including banks, brokers, and payment service providers—with a channel to offer U.S. derivatives to their end customers. Bitnomial will operate independently under Payward while retaining its existing licenses and regulatory framework. The transaction’s value is reported to be up to $550 million, comprising cash and stock, implying a valuation for Payward of approximately $20 billion; however, the final terms have not been disclosed.
Kraken’s parent company Payward acquires derivatives exchange Bitnomial for up to $550 million
According to CoinDesk, Payward, Kraken’s parent company, announced the acquisition of digital asset derivatives platform Bitnomial for up to $550 million in cash and stock. The deal values Payward at approximately $20 billion. Bitnomial is the first crypto-native platform in the U.S. to hold all three key regulatory licenses: a Designated Contract Market (DCM), a Derivatives Clearing Organization (DCO), and a Futures Commission Merchant (FCM). Following the acquisition, Payward will instantly obtain all regulatory authorizations required to operate a full derivatives business in the U.S., significantly accelerating its path to compliance compared to building such capabilities organically. Post-integration, the combined platforms will launch spot margin, perpetual futures, and options products for U.S. customers. Through Payward Services’ B2B infrastructure, these regulated U.S. derivatives offerings will be made available to banks, fintech firms, and brokers via a single API. This acquisition marks Payward’s second major deal following its $1.5 billion acquisition of NinjaTrader in 2025. The transaction is expected to close in the first half of 2026.
Bankless Founder: Lighter (LIT) Market Rally Is Back
Odaily reports: Bankless founder David Hoffman reposted Lighter's regulatory update on X and wrote: "Lighter season back on btw."During Lighter's Q3 investor call held last night via webcast, David Hoffman, speaking as an investor, asked: "Given that Lighter has already had extensive prior communication with the CFTC (U.S. Commodity Futures Trading Commission), do you expect the approval of the DCM (Designated Contract Market) and DCO (Derivatives Clearing Organization) licenses to come earlier than the CFTC's stipulated 180-day review period?"Lighter founder and CEO Vladimir Novakovski responded: "We believe that the extensive prior communication will make the whole process much smoother... The CFTC currently has a lot on its plate, so we can't give an exact timeline yet... However, the CFTC is a fast-moving team internally, so we expect the overall approval process to go relatively smoothly."Previously, David Hoffman reportedly sold all his ETH and rotated into tokens such as LIT, ZEC, and NEAR, with the rotated tokens subsequently significantly outperforming ETH.
Blockchain.com Applies for CFTC License to Launch Prediction Market Derivatives Business
Blockchain.com has applied to the U.S. Commodity Futures Trading Commission (CFTC) for two key licenses—Designated Contract Market (DCM) and Futures Commission Merchant (FCM)—aiming to legally conduct event contracts and cryptocurrency derivatives business and transition from third-party partnerships to an in-house platform.
Blockchain.com seeks approval to launch prediction markets and crypto derivatives trading
Blockchain.com is seeking approval in the U.S. market to launch prediction markets and crypto derivatives trading.
Sports betting company Underdog sues Connecticut, seeking to block sports prediction market enforcement
According to The Block, sports betting company Underdog has filed a lawsuit in federal court against Connecticut state officials seeking to prevent the state from classifying its sports event contracts as illegal gambling. Underdog argues that it operates as a federally regulated Designated Contract Market (DCM), and that the Commodity Futures Trading Commission (CFTC) holds "exclusive jurisdiction" over DCMs, meaning Connecticut's enforcement action conflicts with the framework of the Commodity Exchange Act. Previously, Connecticut's Department of Consumer Protection (DCP) issued cease and desist orders to nine prediction market platforms, including Underdog, Polymarket, Coinbase, Crypto.com, and Robinhood. Earlier this month, Underdog also filed separate lawsuits in five states: Ohio, Massachusetts, Wisconsin, New Mexico, and Washington. Currently, more than twelve states have taken enforcement actions or filed lawsuits against prediction market platforms.
Ansem: Kraken's Full CFTC Licensing Framework Makes a HIP-3 Partnership with Hyperliquid Feasible
Odaily News, Ansem commented on X platform regarding "Kraken might become the first compliant CEX to deploy HIP-3," stating that if Hyperliquid aims to conduct compliant business in the US, it may need to find a partner that is both familiar with its product architecture and possesses complete regulatory qualifications. Kraken could be one of the potential choices.He pointed out that after Kraken's recent acquisitions of NinjaTrader and Bitnomial, its parent company Payward now holds FCM, DCM, and DCO licenses under the CFTC regulatory framework. Meanwhile, Hyperliquid has already established the corresponding infrastructure through HIP-3, meaning Kraken could theoretically serve as a new access point, offering related products in a manner similar to TradeXYZ. Arjun Sethi has consistently emphasized publicly that Kraken aims to play a "positive-sum game." Among existing US centralized exchanges, Kraken's potential may be severely underestimated. If this partnership actually materializes, it would be a major strategic move for Kraken to expand its market influence and add a significant business line.
ARK Invest Exec Suggests Hyperliquid Acquire Gemini to Position as Compliant HIP-3/4 Deployer in the U.S.
Odaily Planet Daily reported that Lorenzo Valente, Head of Digital Asset Research at investment firm ARK Invest, stated that Hyperliquid is in discussions with the CFTC and SEC to facilitate the offering of perpetual futures on its public chain by U.S.-regulated companies. He suggested that Hyperliquid acquire Gemini to position it as a U.S.-regulated HIP-3/4 deployer. He noted that Gemini's current market value is approximately $450 million, representing a decline of over 85% from its $3.3 billion valuation at the time of its 2025 IPO. Hyperliquid could obtain Gemini's entire U.S. regulatory infrastructure—including the NYDFS Trust Charter, DCM, DCO, FCM, MTLs, and Broker-dealer—for approximately $450 million.He further proposed that Hyperliquid could use approximately 7.9 million HYPE tokens from its community reserve, valued at around $550 million at $70 per token, to complete the acquisition at a premium of roughly 20% over Gemini's current market value. Following the transaction, Gemini would handle KYC, custody, fiat on/off ramps, brokerage, clearing, and compliance for the U.S. market, while Hyperliquid L1 would provide the underlying market infrastructure, liquidity, and on-chain settlement. He cited Polymarket's acquisition of QCEX as a similar precedent for re-entering the U.S. market, and stated that the core of this potential deal is not acquiring an exchange, but rather securing the regulatory bridge for HIP-3/4 to enter the U.S. market.
Blockchain.com seeks approval to launch prediction markets and crypto derivatives trading
Blockchain.com is seeking approval in the U.S. market to launch prediction markets and crypto derivatives trading.
Navra Completes $19 Million Series A Funding, Led by Ribbit Capital
Navra has announced the completion of an oversubscribed $19 million Series A funding round, led by Ribbit Capital, with participation from Baseline, DCM, and others. Jump Crypto and Figure Technology Solutions are strategic investors. Navra primarily provides access to multiple blockchain venues through a single interface, with direct connections to DeFi yield protocols and cash ramps. It offers keyless self-custody services that meet qualified custody requirements, with built-in AI agents; the institutional version also supports enterprise team management and full audit trails.
Granted CFTC Temporary Relief, U.S. Designated Contract Markets May Convert Certain Contracts into Perpetual Contracts Without Expiration
Odaily News: The U.S. Commodity Futures Trading Commission (CFTC) has issued a "no-action" relief allowing Designated Contract Markets (DCMs) to convert certain existing contracts that already substantively possess perpetual contract characteristics into "true" perpetual contracts without expiration dates. The relief is valid until October 20. Exchanges must seek input from holders of open positions before conversion, provide advance notice and an opportunity to exit, and offer risk disclosures.
Ansem: Kraken's Full CFTC Licensing Framework Makes a HIP-3 Partnership with Hyperliquid Feasible
Odaily News, Ansem commented on X platform regarding "Kraken might become the first compliant CEX to deploy HIP-3," stating that if Hyperliquid aims to conduct compliant business in the US, it may need to find a partner that is both familiar with its product architecture and possesses complete regulatory qualifications. Kraken could be one of the potential choices.He pointed out that after Kraken's recent acquisitions of NinjaTrader and Bitnomial, its parent company Payward now holds FCM, DCM, and DCO licenses under the CFTC regulatory framework. Meanwhile, Hyperliquid has already established the corresponding infrastructure through HIP-3, meaning Kraken could theoretically serve as a new access point, offering related products in a manner similar to TradeXYZ. Arjun Sethi has consistently emphasized publicly that Kraken aims to play a "positive-sum game." Among existing US centralized exchanges, Kraken's potential may be severely underestimated. If this partnership actually materializes, it would be a major strategic move for Kraken to expand its market influence and add a significant business line.
ARK Invest Exec Suggests Hyperliquid Acquire Gemini to Position as Compliant HIP-3/4 Deployer in the U.S.
Odaily Planet Daily reported that Lorenzo Valente, Head of Digital Asset Research at investment firm ARK Invest, stated that Hyperliquid is in discussions with the CFTC and SEC to facilitate the offering of perpetual futures on its public chain by U.S.-regulated companies. He suggested that Hyperliquid acquire Gemini to position it as a U.S.-regulated HIP-3/4 deployer. He noted that Gemini's current market value is approximately $450 million, representing a decline of over 85% from its $3.3 billion valuation at the time of its 2025 IPO. Hyperliquid could obtain Gemini's entire U.S. regulatory infrastructure—including the NYDFS Trust Charter, DCM, DCO, FCM, MTLs, and Broker-dealer—for approximately $450 million.He further proposed that Hyperliquid could use approximately 7.9 million HYPE tokens from its community reserve, valued at around $550 million at $70 per token, to complete the acquisition at a premium of roughly 20% over Gemini's current market value. Following the transaction, Gemini would handle KYC, custody, fiat on/off ramps, brokerage, clearing, and compliance for the U.S. market, while Hyperliquid L1 would provide the underlying market infrastructure, liquidity, and on-chain settlement. He cited Polymarket's acquisition of QCEX as a similar precedent for re-entering the U.S. market, and stated that the core of this potential deal is not acquiring an exchange, but rather securing the regulatory bridge for HIP-3/4 to enter the U.S. market.
Underdog's UDX Self-Certifies 7 Sports Event Contract Templates with CFTC
: UDX, the newly acquired exchange by Underdog, self-certified 7 sports event contract templates with the U.S. Commodity Futures Trading Commission (CFTC) on July 15, with plans to launch the first batch of contract trading no later than July 17. The filing sets targets for the launch but does not confirm that public trading has begun. The relevant certifications cover 3 baseball and 3 basketball templates, involving markets for game winner, winning margin, and total points. The 7th, broader contract allows for the creation of markets around whether a specified athlete, team, or other entity achieves an outcome within a limited period. These contracts have a notional value of $1, with a trading price range of $0.001 to $0.999. UDX stated that trading will typically remain open continuously except during announced maintenance windows, and liquidity will be provided by at least one market maker. Underdog acquired Aristotle Exchange DCM and its affiliated derivatives clearing organization in March. Prior to the acquisition, Underdog primarily acted as an intermediary, providing users with access to contracts listed on other federally registered trading venues.
Related news
Bankless Founder: Lighter (LIT) Market Rally Is Back
Odaily reports: Bankless founder David Hoffman reposted Lighter's regulatory update on X and wrote: "Lighter season back on btw."During Lighter's Q3 investor call held last night via webcast, David Hoffman, speaking as an investor, asked: "Given that Lighter has already had extensive prior communication with the CFTC (U.S. Commodity Futures Trading Commission), do you expect the approval of the DCM (Designated Contract Market) and DCO (Derivatives Clearing Organization) licenses to come earlier than the CFTC's stipulated 180-day review period?"Lighter founder and CEO Vladimir Novakovski responded: "We believe that the extensive prior communication will make the whole process much smoother... The CFTC currently has a lot on its plate, so we can't give an exact timeline yet... However, the CFTC is a fast-moving team internally, so we expect the overall approval process to go relatively smoothly."Previously, David Hoffman reportedly sold all his ETH and rotated into tokens such as LIT, ZEC, and NEAR, with the rotated tokens subsequently significantly outperforming ETH.
Blockchain.com Applies for CFTC License to Launch Prediction Market Derivatives Business
Blockchain.com has applied to the U.S. Commodity Futures Trading Commission (CFTC) for two key licenses—Designated Contract Market (DCM) and Futures Commission Merchant (FCM)—aiming to legally conduct event contracts and cryptocurrency derivatives business and transition from third-party partnerships to an in-house platform.
Blockchain.com seeks approval to launch prediction markets and crypto derivatives trading
Blockchain.com is seeking approval in the U.S. market to launch prediction markets and crypto derivatives trading.
US-listed company Universal Safety has been renamed DeFi Capital Markets, with its ticker symbol changed to DCM.
According to PR Newswire, U.S. publicly traded company Universal Safety Products (UUU) announced it will be renamed DeFi Capital Markets on October 19 and will trade under the new ticker symbol "DCM". Moving forward, the company will gradually phase out its existing product business and shift its focus to asset tokenization, digital assets, market making, quantitative trading, and blockchain financial markets.
Navra Completes $19 Million Series A Funding, Led by Ribbit Capital
Navra has announced the completion of an oversubscribed $19 million Series A funding round, led by Ribbit Capital, with participation from Baseline, DCM, and others. Jump Crypto and Figure Technology Solutions are strategic investors. Navra primarily provides access to multiple blockchain venues through a single interface, with direct connections to DeFi yield protocols and cash ramps. It offers keyless self-custody services that meet qualified custody requirements, with built-in AI agents; the institutional version also supports enterprise team management and full audit trails.
Granted CFTC Temporary Relief, U.S. Designated Contract Markets May Convert Certain Contracts into Perpetual Contracts Without Expiration
Odaily News: The U.S. Commodity Futures Trading Commission (CFTC) has issued a "no-action" relief allowing Designated Contract Markets (DCMs) to convert certain existing contracts that already substantively possess perpetual contract characteristics into "true" perpetual contracts without expiration dates. The relief is valid until October 20. Exchanges must seek input from holders of open positions before conversion, provide advance notice and an opportunity to exit, and offer risk disclosures.