Hey crypto addicts,

The CFTC is pushing back against CME’s lawsuit over crypto perpetual futures, asking a federal court to dismiss the case. The regulator argues that CME has not shown sufficient competitive harm or legal standing to challenge the approval.

The dispute centers on how crypto perpetual contracts should be classified, with CME arguing they should fall under rules for swaps rather than traditional futures. The outcome could have major implications for how these products are offered in the U.S.

As crypto derivatives continue moving onshore, this legal battle could help shape the future of regulated crypto trading in America. The question now is whether the courts will side with the CFTC’s approach or force a different path.☕

What we’ve covered for you today:

Fairshake is entering the U.S. election cycle with a massive $122 million war chest, giving the crypto-focused political group significant resources to influence upcoming races.

The group plans to support candidates and policies that favor clearer crypto regulations and a more supportive environment for the industry. Its growing influence shows how seriously crypto companies are taking the political battle in Washington.

With billions of dollars and major industry players behind crypto-friendly campaigns, elections could play a major role in determining the sector’s future. The industry is no longer sitting on the sidelines when it comes to politics.☕

Backpack is bringing in Multicoin Capital co-founder Kyle Samani as executive chairman of its U.S. operations, adding one of Solana’s most prominent investors to its leadership team.

Samani brings extensive experience across crypto markets and has been a long-time supporter of Solana’s ecosystem. His appointment comes as Backpack looks to expand its presence in the U.S. and strengthen its position in the growing digital-asset market.

The move highlights the increasing competition among crypto platforms as U.S. regulation becomes clearer. With experienced industry figures joining major exchanges, the next phase of crypto adoption could be shaped by both infrastructure and strong leadership. ☕

Hyperscale Data has dramatically reduced its Bitcoin holdings, cutting its position by 79% as the company shifts its focus toward artificial intelligence infrastructure.

The company’s move highlights a growing trend among businesses reassessing their crypto strategies while demand for AI computing continues to accelerate. Rather than maintaining Bitcoin exposure, Hyperscale is redirecting resources toward its AI-focused operations.

The shift shows how quickly corporate priorities can change as new technology narratives gain momentum. Bitcoin remains a major corporate treasury asset, but companies are increasingly weighing crypto exposure against opportunities in AI and other high-growth sectors.☕

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Hyperscale Data is shutting down its Bitcoin mining operations in Michigan as it pivots toward artificial intelligence infrastructure, marking another shift in corporate strategy away from crypto mining. The company plans to redirect resources toward AI and data-center opportunities, citing the potential for stronger growth and returns.

U.S. officials and cybersecurity experts have disrupted the Sality botnet, a malware network linked to crypto theft and other cyberattacks. The operation involved international authorities and private-sector partners working to cut the malware’s communication with infected devices.

Coinbase has expanded its regulated derivatives offering into Canada, allowing eligible users to trade crypto futures and perpetual-style contracts through its Canadian platform. The move strengthens Coinbase’s presence in the country as demand for regulated digital-asset products continues to grow.

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