The infighting between two top establishment players is actually an interesting positive development. On June 18, the Chicago Mercantile Exchange (CME) formally sued the U.S. Commodity Futures Trading Commission (CFTC) in a Washington, D.C. court, directly challenging the CFTC’s prior approval of Kalshi’s launch of Bitcoin perpetual futures (BTCPERP). U.S. regulators have never previously permitted domestically compliant perpetual contracts; until now, perpetuals have been the exclusive cash cow of offshore crypto exchanges. The CFTC is attempting to establish a compliant pathway for domestic perpetual contracts on digital commodities, but the emergence of such products could significantly undermine CME’s traditional physically settled futures. The appetite of traditional financial giants for core crypto-native tools is no longer hidden—and the battle over the crypto-native derivatives market is likely to persist for some time.

🚫 Is the book finally closing on Celsius's founder? 🚨 Alex Mashinsky, founder of collapsed crypto lender Celsius, has been hit with another major ban following one of crypto's largest fraud cases. 🪙 Accountability for the last cycle's blowups continues. #TOBNews2026 #Timesofblockchain #Celsius #CryptoFraud #Crypto

Two internet service providers in Karachi fined Rs 50,000 by a court under Consumer protection laws - complainant was a lawyer who had said the the internet service being provided was of poor quality and not as per the claims advertised by the ISPs

Did he know that the CFTC and the SEC and other regulators would be allowing retail to participate in perps? Retail does deserve access and politics are dirty.

Ex-Celsius CEO Mashinsky gets permanent CFTC trading ban in settlement.

A human error at Citibank sent $900 MILLION instead of $7.8 MILLION to lenders. Ten of them refused to return it. A federal judge ruled the money was legally theirs. – In 2020 Citibank was processing a routine $7.8 MILLION interest payment on behalf of Revlon, the struggling cosmetics company. – Their internal payment system required a complex series of steps. During the process their operations team made one error. – Instead of directing the $900 MILLION principal balance to an internal holding account they sent it directly to the lenders. – Citibank wired $900 MILLION of its own money overnight. A loan not due until 2023 had just been paid off in full. By accident. – They realized the mistake the next morning and immediately asked every lender to return the money. Most did but ten of them refused. – Those ten lenders kept $504 MILLION combined. – Their argument was Revlon owed them the money anyway so they had no reason to believe one of the most powerful banks in the world had just made a $900 MILLION mistake. – Citibank sued and the case went to federal court in Manhattan. – Judge Jesse Furman called it "one of the biggest blunders in banking history." Then ruled the ten lenders did not have to return a single dollar. – His reasoning, to believe Citibank had made a mistake of nearly $1 BILLION would have been borderline irrational. – Regulators fined Citibank $400 MILLION separately for internal control failures. – Citibank appealed. Two years later the appeals court reversed the ruling 3-0 and ordered the lenders to return the money. – CEO Jane Fraser called the whole thing a "massive unforced error." One of the most powerful banks in the world sent $900 MILLION to the wrong people by accident. A federal judge ruled they could legally keep it. It took two years and millions in legal fees to get it back.

CFTC Chair: Paving the Way for On-Chain Markets Like Hyperliquid to Come Onshore On June 15, 2026, CFTC Chairman Mike Selig discussed the regulatory pathway for bringing decentralized perpetual contract platforms like Hyperliquid to the United States on the Bankless podcast. He stated that blockchain technology and 24/7 trading models are transforming market operations, and regulators should lean into the future rather than rigidly applying outdated 1934 exchange rules. Selig believes that while on-chain mechanisms like auto-deleveraging introduce new considerations, the CFTC is actively working to tailor regulations for these new products and platforms. He expressed that the core objective is to create a compliant path that keeps the new frontier of finance building and flourishing within the US, provided that investor funds are protected and adequate disclosures are ensured.

CME Group has filed a lawsuit against the U.S. Commodity Futures Trading Commission (CFTC) and Chair Michael Selig, claiming that the CFTC is categorizing cryptocurrency “futures” as “swaps.” CME argues this approach could create confusion and risks for derivatives markets, potentially impacting how these digital asset products are regulated and traded. This case could shape future oversight of crypto derivatives in the U.S. Learn more: [source link] #CryptoNews #Derivatives #Regulation #CMEGroup #CFTC #Cryptocurrency #FinanceNews

@CMEGroup has sued the @CFTC over its 29 May approval of crypto perpetual futures for US investors, alleging "textbook competitive injury."

The CFTC has permanently barred @CelsiusNetwork founder @Mashinsky from regulated markets, closing its civil enforcement case.