Regulatory Crackdown Hits Crypto Firms Amidst Growing Oversight

The Commodity Futures Trading Commission (CFTC) has banned Celsius founder Alex Mashinsky from trading permanently.

This move comes amidst a broader regulatory crackdown on crypto firms, with the CFTC seeking to increase oversight and accountability in the industry.

Kalshi, a cryptocurrency derivatives exchange, recently saw its Bitcoin perpetual futures contract approved by the CFTC, allowing for regulated U.S. trading of these products. Kalshi's CEO Terry has stated that this approval is a 'major regulatory breakthrough'.

Additionally, Kalshi surpassed $5.5 billion in traded volume with its perpetual futures in just about two weeks since launch.