News Heat Trend
Project Overview
Perpetuals is a regulated multilateral trading facility platform focused on trading cryptocurrencies, derivatives and tokenized assets.
Three Companies Plan to Operate Tokenized Securities Trading Venues Under SEC Innovation Exemption
Odaily reports: A Fox Business crypto reporter posted on X platform that the U.S. Securities and Exchange Commission (SEC) stated that three companies have notified it of their plans to operate tokenized securities trading venues (TSVs) under the new innovation exemption policy. TSV LLC is held by Obsidian Systems co-founders Ali Abrar and Ryan Trinkle, with Ryan Trinkle also serving as a board member of the Canton Foundation; the platform plans to operate on Canton Network. OKXICE is a joint venture between OKX and ICE Markets, planning to operate on OKX's Ethereum Layer 2 network X Layer. Kephas Corp. is the U.S. subsidiary of Perpetuals.com, led by founder @PGruhnPDC, who previously served as head of FTX Europe; the platform plans to operate on Kronos X Public, a public, permissionless Layer 2 network that adopts permissioned trading pools. The SEC stated that inclusion on this list does not mean the relevant companies have met the conditions of the innovation exemption.
Nasdaq-Listed Perpetuals.com Plans to Launch Tokenized U.S. Stock Trading Under SEC Innovation Exemption
Odaily News: Nasdaq-listed fintech company Perpetuals.com plans to offer tokenized U.S. stock trading services under the innovation exemption mechanism introduced by the U.S. Securities and Exchange Commission (SEC). The plan predates a related proposal from the joint venture between OKX and Intercontinental Exchange (ICE).Perpetuals.com CEO Patrick Gruhn previously co-founded Digital Assets AG, a company that developed stock-linked tokens for cryptocurrency exchanges including Binance and FTX, and was later acquired by FTX Group.Trading could potentially launch as early as mid-November, but the company still needs to complete technical and compliance preparations. (CoinDesk)
Analyst: Kraken May Become One of the First Centralized Exchanges to Test Hyperliquid's HIP-3 Compliant Deployment
Odaily News, Blockworks analyst Shaunda Devens stated on the X platform that Kraken may be testing Hyperliquid's HIP-3 (Builder-Deployed Perpetuals) new compliant deployment feature, potentially becoming one of the first centralized exchanges to explore this mechanism. BlockworksData shows that a deployer named "Kraken HIP-3 test DEX" has enabled permission management functionality (Star gating) on the Hyperliquid testnet and went live for testing on August 19. Currently, this test DEX has completed whitelist settings for 10 wallets, tested 3 of the 5 compliance control features, and registered a "Kraken Exchange Validator."Shaunda Devens noted that Hyperliquid has been continuously adding testnet features to support regulatory-compliant HIP-3 deployments, including whitelist management, canceling user orders, closing positions via reduce-only orders, and moving collateral. These capabilities are similar to the risk control mechanisms required by traditional financial institutions' compliant trading platforms.Although this is still in the testing phase, and any user could deploy a test DEX with a similar name, making it impossible to confirm it definitively belongs to Kraken, combined with Hyperliquid's recent expansion of xStocks functionality and Kraken's parent company Payward's involvement in related business initiatives, analysts believe Kraken may be testing HyperCore's new infrastructure targeting institutional and compliant markets.HIP-3 is a third-party deployed perpetual contract market framework introduced by Hyperliquid, allowing eligible developers to create independent perpetual trading markets on HyperCore's order book infrastructure. It is considered a key upgrade direction for Hyperliquid to expand into traditional assets and institutional trading scenarios. If large compliant exchanges like Kraken enter the HIP-3 ecosystem, it could further drive the integration of on-chain derivatives markets with traditional financial trading systems.
U.S. Senator Gillibrand’s Son Raises $30 Million to Launch U.S.-Based Perpetual Futures Exchange APEC
According to Fortune, Theodore Gillibrand, son of U.S. Senator Kirsten Gillibrand of New York State, has raised $30 million in funding, valuing his company at approximately $300 million. The company plans to launch a derivatives trading platform named American Perpetuals Exchange Corp. (APEC). The platform intends to apply for a license from the U.S. Commodity Futures Trading Commission (CFTC) and will list perpetual futures on equities and equity indices—not cryptocurrency perpetual contracts.
Perpetuals.com plans to launch tokenized US stock trading under the SEC's new framework.
According to CoinDesk, Nasdaq-listed fintech firm Perpetuals.com (PDC) has formally submitted notice to operate a tokenized U.S. stock trading venue under the SEC’s five-year "innovation exemption" framework. The exemption permits specific markets to trade U.S. equities on public blockchains without registering as traditional securities exchanges, provided that the tokens carry identical shareholder rights to common stock, including dividend and voting rights. Perpetuals.com is the second company to apply for this exemption, following OKX and OKXICE, a joint venture between OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange. Its U.S. market will be managed by Delaware-based subsidiary Kephas Corporation, facilitating trades through AMM liquidity pools on the Ethereum-compatible layer-2 network Kronos X Public, with the initial trading pair consisting of U.S. stock tokens and USDC. CEO Patrick Gruhn previously oversaw operations at FTX Europe and contributed to the development of early stock token products at both Binance and FTX. A full launch is anticipated as early as mid-November.
Bybit launches perpetual contracts for major forex pairs with up to 100x leverage
Odaily News, Dubai-based cryptocurrency exchange Bybit has launched USDT-settled forex perpetual contracts covering three major currency pairs: EUR/USD, GBP/USD, and USD/JPY. The contracts support 24/7 trading with up to 100x leverage available.These contracts have no expiry date, with all profits and losses settled in USDT. Traders simply track the price movements of the underlying currency pairs without taking ownership of the corresponding currencies. The product has been added to Bybit's TradFi Perpetuals lineup launched in April, which currently covers over 200 assets including stocks, commodities, ETFs, and pre-IPO companies. (Cointelegraph)
CMC: Gate Ranks Third Globally in RWA Perpetual Futures Trading Volume for August, Fastest Growth in the Industry from June to August
Odaily News According to the latest report "RWA Perpetuals: State of the Market — August 2026" released by CoinMarketCap, the cumulative trading volume in the RWA perpetual futures market has reached $3.16 trillion, with August alone recording $799.5 billion in monthly trading volume, setting a new all-time high. Gate has emerged as the most prominent trading platform in this growth phase: from June to August, its trading volume surged approximately 5.3 times, making it the fastest-growing exchange among platforms with monthly trading volumes exceeding $5 billion during the same period.In August, Gate's RWA perpetual futures trading volume reached $64.8 billion, 2.6 times its record-breaking July volume, ranking third globally among centralized trading platforms and accounting for 9.3% of total CEX trading volume. The report specifically noted that Gate's highest weekly trading volume hit $20.65 billion during the week of August 17, coinciding with the period of sharp volatility in memory chip stocks, also marking a new all-time weekly high for Gate.CMC emphasized that Gate has maintained strong growth despite heightened market volatility and rapidly shifting trading dynamics. Notably, its peak trading week did not occur at market highs but during a market correction period, indicating a trend where trading flow further concentrates toward Gate during periods of intensified volatility.
Coinbase and Deribit Plan September 9 Merger, Integrating Spot, Perpetuals, Options, and Futures into a Unified Trading System
Odaily News: Greek.live Research Institute's Adam stated on the X platform that Deribit has been continuously rolling out updates more than once a week recently. Spot liquidity has now been merged into Coinbase, and the majority of reserve assets have been custodied with Coinbase. These arrangements are aimed at preparing for the merger on September 9.Adam stated that Coinbase may deserve more attention than many expect, as this merger is not a simple brand integration. Coinbase's spot trading, global user base, and institutional framework will be integrated with Deribit's options, derivatives liquidity, and trading infrastructure.For traders, spot, perpetual, and options trading were previously spread across different platforms. After the merger, Coinbase will consolidate spot, perpetuals, options, and futures into a single trading system. The derivatives layer will leverage a new-generation matching engine and further consolidate previously fragmented liquidity.
Analyst: Kraken May Become One of the First Centralized Exchanges to Test Hyperliquid's HIP-3 Compliant Deployment
Odaily News, Blockworks analyst Shaunda Devens stated on the X platform that Kraken may be testing Hyperliquid's HIP-3 (Builder-Deployed Perpetuals) new compliant deployment feature, potentially becoming one of the first centralized exchanges to explore this mechanism. BlockworksData shows that a deployer named "Kraken HIP-3 test DEX" has enabled permission management functionality (Star gating) on the Hyperliquid testnet and went live for testing on August 19. Currently, this test DEX has completed whitelist settings for 10 wallets, tested 3 of the 5 compliance control features, and registered a "Kraken Exchange Validator."Shaunda Devens noted that Hyperliquid has been continuously adding testnet features to support regulatory-compliant HIP-3 deployments, including whitelist management, canceling user orders, closing positions via reduce-only orders, and moving collateral. These capabilities are similar to the risk control mechanisms required by traditional financial institutions' compliant trading platforms.Although this is still in the testing phase, and any user could deploy a test DEX with a similar name, making it impossible to confirm it definitively belongs to Kraken, combined with Hyperliquid's recent expansion of xStocks functionality and Kraken's parent company Payward's involvement in related business initiatives, analysts believe Kraken may be testing HyperCore's new infrastructure targeting institutional and compliant markets.HIP-3 is a third-party deployed perpetual contract market framework introduced by Hyperliquid, allowing eligible developers to create independent perpetual trading markets on HyperCore's order book infrastructure. It is considered a key upgrade direction for Hyperliquid to expand into traditional assets and institutional trading scenarios. If large compliant exchanges like Kraken enter the HIP-3 ecosystem, it could further drive the integration of on-chain derivatives markets with traditional financial trading systems.
: Trump-backed crypto company AI Financial seeks to sell core business, with deal offers up to $15 million
AI Financial (formerly Alt5 Sigma, stock ticker: AIFC), a cryptocurrency company backed by the Trump family, is in discussions with blockchain technology firm Perpetuals.com to sell its core business, with a potential price of up to $15 million.This news marks a significant strategic reversal for the company—just one year ago, AI Financial acquired a small payment company for $750 million, but since then, the deal has resulted in losses for nearly everyone except the Trump family. The terms of the transaction have not yet been finalized, negotiations are still ongoing, and the situation remains subject to change or the possibility of collapse. (WSJ)
Related news
Three companies plan to operate tokenized securities trading platforms under the SEC's exemptive relief.
据记者 Eleanor Terrett（@EleanorTerrett）报道，美国证券交易委员会（SEC）表示，已有三家公司通知该机构，计划依据其新推出的创新豁免运营代币化证券交易场所（TSV）： • TSV LLC：由 Obsidian Systems 联合创始人 Ali Abrar 和 Ryan Trinkle 持有。Trinkle 同时担任 Canton 基金会董事会成员。该公司计划在 Canton Network 上运营。 • OKXICE：OKX 与 ICE（洲际交易所）的合资企业，计划在 OKX 的以太坊 Layer 2 网络 X Layer 上运营。 • Kephas Corp.：Perpetuals.com 的美国子公司，由创始人 Peter Gruhn 领导，他曾任 FTX Europe 负责人。该公司计划在公共、无许可的 Layer 2 网络 Kronos X Public 上运营，并采用许可制交易池。 SEC 同时强调，名单上出现某家公司，并不代表该公司已满足豁免条件。
Three Companies Plan to Operate Tokenized Securities Trading Venues Under SEC Innovation Exemption
Odaily reports: A Fox Business crypto reporter posted on X platform that the U.S. Securities and Exchange Commission (SEC) stated that three companies have notified it of their plans to operate tokenized securities trading venues (TSVs) under the new innovation exemption policy. TSV LLC is held by Obsidian Systems co-founders Ali Abrar and Ryan Trinkle, with Ryan Trinkle also serving as a board member of the Canton Foundation; the platform plans to operate on Canton Network. OKXICE is a joint venture between OKX and ICE Markets, planning to operate on OKX's Ethereum Layer 2 network X Layer. Kephas Corp. is the U.S. subsidiary of Perpetuals.com, led by founder @PGruhnPDC, who previously served as head of FTX Europe; the platform plans to operate on Kronos X Public, a public, permissionless Layer 2 network that adopts permissioned trading pools. The SEC stated that inclusion on this list does not mean the relevant companies have met the conditions of the innovation exemption.
Perpetuals.com plans to launch tokenized US stock trading under the SEC's new framework.
According to CoinDesk, Nasdaq-listed fintech firm Perpetuals.com (PDC) has formally submitted notice to operate a tokenized U.S. stock trading venue under the SEC’s five-year "innovation exemption" framework. The exemption permits specific markets to trade U.S. equities on public blockchains without registering as traditional securities exchanges, provided that the tokens carry identical shareholder rights to common stock, including dividend and voting rights. Perpetuals.com is the second company to apply for this exemption, following OKX and OKXICE, a joint venture between OKX and Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange. Its U.S. market will be managed by Delaware-based subsidiary Kephas Corporation, facilitating trades through AMM liquidity pools on the Ethereum-compatible layer-2 network Kronos X Public, with the initial trading pair consisting of U.S. stock tokens and USDC. CEO Patrick Gruhn previously oversaw operations at FTX Europe and contributed to the development of early stock token products at both Binance and FTX. A full launch is anticipated as early as mid-November.
Nasdaq-Listed Perpetuals.com Plans to Launch Tokenized U.S. Stock Trading Under SEC Innovation Exemption
Odaily News: Nasdaq-listed fintech company Perpetuals.com plans to offer tokenized U.S. stock trading services under the innovation exemption mechanism introduced by the U.S. Securities and Exchange Commission (SEC). The plan predates a related proposal from the joint venture between OKX and Intercontinental Exchange (ICE).Perpetuals.com CEO Patrick Gruhn previously co-founded Digital Assets AG, a company that developed stock-linked tokens for cryptocurrency exchanges including Binance and FTX, and was later acquired by FTX Group.Trading could potentially launch as early as mid-November, but the company still needs to complete technical and compliance preparations. (CoinDesk)
Bybit launches perpetual contracts for major forex pairs with up to 100x leverage
Odaily News, Dubai-based cryptocurrency exchange Bybit has launched USDT-settled forex perpetual contracts covering three major currency pairs: EUR/USD, GBP/USD, and USD/JPY. The contracts support 24/7 trading with up to 100x leverage available.These contracts have no expiry date, with all profits and losses settled in USDT. Traders simply track the price movements of the underlying currency pairs without taking ownership of the corresponding currencies. The product has been added to Bybit's TradFi Perpetuals lineup launched in April, which currently covers over 200 assets including stocks, commodities, ETFs, and pre-IPO companies. (Cointelegraph)
CMC: Gate Ranks Third Globally in RWA Perpetual Futures Trading Volume for August, Fastest Growth in the Industry from June to August
Odaily News According to the latest report "RWA Perpetuals: State of the Market — August 2026" released by CoinMarketCap, the cumulative trading volume in the RWA perpetual futures market has reached $3.16 trillion, with August alone recording $799.5 billion in monthly trading volume, setting a new all-time high. Gate has emerged as the most prominent trading platform in this growth phase: from June to August, its trading volume surged approximately 5.3 times, making it the fastest-growing exchange among platforms with monthly trading volumes exceeding $5 billion during the same period.In August, Gate's RWA perpetual futures trading volume reached $64.8 billion, 2.6 times its record-breaking July volume, ranking third globally among centralized trading platforms and accounting for 9.3% of total CEX trading volume. The report specifically noted that Gate's highest weekly trading volume hit $20.65 billion during the week of August 17, coinciding with the period of sharp volatility in memory chip stocks, also marking a new all-time weekly high for Gate.CMC emphasized that Gate has maintained strong growth despite heightened market volatility and rapidly shifting trading dynamics. Notably, its peak trading week did not occur at market highs but during a market correction period, indicating a trend where trading flow further concentrates toward Gate during periods of intensified volatility.