Daily News: Coinbase Launches Perp Futures Trading for US Users, Paul Atkins Says ETH Not A Security, Strategy to Issue STRC Shares, and More

U.S. SEC Chair Paul Atkins Says ETH Not a Security

Paul Atkins, chairman of the US Securities and Exchange Commission (SEC), clarified that Ethereum is not a security, aligning it with Bitcoin as a commodity. He emphasized that Ethereum’s blockchain plays a crucial role in supporting other cryptocurrencies, making it integral to the sector. He said, “Similar to Bitcoin, I mean the SEC has stated informally more than formally that Ether is not a security. And so but it’s obviously the ETH blockchain is a very key component for a lot of other digital currencies.”

Coinbase launches perpetual futures trading platform in the U.S.

On July 22, Coinbase announced the launch of perpetual futures trading services in the United States, becoming the first CFTC-regulated perpetual futures trading platform in the country. Participants can legally engage in perpetual futures trading. The new platform features three key advantages: no monthly expiration limits, support for leverage up to 10x, and trading fees as low as 0.02%.

Market News: Crypto Custodian BitGo Files for US IPO Amid $100 Billion in Custody

BitGo has submitted paperwork to the Securities and Exchange Commission for an initial public offering (IPO) of its Class A common stock, signaling the crypto industry's ongoing integration into mainstream financial markets. With assets under custody exceeding $100 billion in the first half of 2025, the company is also expanding internationally, gaining regulatory approval in the European Union under MiCA and pursuing a US bank charter. BitGo aims to join the growing list of publicly traded digital asset firms, alongside other companies like Bullish and Grayscale.

Polymarket Acquires Derivatives Exchange QCEX for $112 Million, Plans U.S. Market Return

Polymarket announced its acquisition of derivatives exchange QCEX for $112 million, marking its re-entry into the US market after settling with the CFTC in 2022. The deal positions Polymarket as a fully regulated platform, enabling Americans to trade prediction market contracts with confidence. QCEX had previously filed with the CFTC to be designated as a contract market, further paving the way for this expansion. This move reflects the growing popularity of prediction markets and Polymarket’s ambition to lead in this space.

Strategy Announces Plan to Issue STRC Shares to Raise Funds for Bitcoin Acquisition

Strategy (NASDAQ: MSTR, STRK, STRF, STRD) announced today its plan to conduct an initial public offering of 5 million shares of variable-rate Series A perpetual preferred stock (STRC shares). The company stated that the funds raised will be used for general corporate purposes, particularly Bitcoin acquisition and operational funding.

The initial annual dividend rate for STRC shares is 9.00%, payable monthly, with the company retaining the right to adjust the dividend rate. Morgan Stanley, Barclays, Moelis & Company, and TD Securities will serve as joint bookrunners for the offering.

Robinhood CEO: Will Persist in Advancing Tokenized Stock Plans

Robinhood CEO Vlad Tenev recently acknowledged the controversy surrounding the company’s launch of OpenAI tokenized stocks but stated the firm will firmly expand this business. Previously, OpenAI strongly opposed unauthorized tokenized stocks, and the U.S. SEC issued warnings that tokenized securities must still comply with federal securities laws.

Tenev said, "Being the first to actually tokenize those great companies is a big milestone. Of course, every time you're the first to do something interesting, it has some element of controversy." He plans to expand this model to thousands of private companies and integrate with the DeFi market.

FTX Seeks Extension to Respond to Creditor Objections; $470 Million in Overseas Claims Could Be Frozen

The FTX bankruptcy management team is seeking an extension from the Delaware court to respond to over 90 objections regarding its proposal to suspend repayments to creditors in "restricted foreign jurisdictions." The proposal affects creditors in 49 countries and involves claims totaling approximately $470 million, with Chinese creditors accounting for the largest share at 82% (around $380 million).

The FTX team stated that repayments to creditors in these countries could trigger fines, personal liability, or even criminal penalties. However, multiple creditors strongly oppose the move, arguing that it could render their claims worthless. According to FTX creditor Sunil Kavuri, approximately $1.4 billion in FTX claims remain unresolved.

Aspecta Officially Announces ASP Token TGE Scheduled for July 24

According to Aspecta core contributor Jack He on X (@jackhe24), the Aspecta Token (ASP) Generation Event (TGE) will officially launch on July 24, 2025, at 10:00 AM UTC.

Sonic Labs Co-Founder: Sonic Labs Has Burned All 1.866 Million Airdropped S Tokens Worth Approximately $750,000

Andre Cronje, co-founder of Sonic Labs, announced on X (@AndreCronjeTech) that Sonic Labs has burned all 1,866,256.59 S tokens allocated for the airdrop, valued at $754,902.66.

Binance: Offers 4x Trading Volume Points for Limit Orders on BSC Chain Alpha Tokens

According to an official announcement, starting from July 22, 2025, at 12:00 AM UTC, limit orders for BSC Chain Alpha tokens on Binance Alpha CEX will receive 4x trading volume points credited to Binance Alpha Points. The end date of the promotion will be announced separately.

Dynamix Plans to Establish Ether Machine and Hold Over $1.5 Billion in ETH

US-listed blank check company Dynamix (NASDAQ: DYNX) is preparing to merge with another entity to form a new company named "Ether Machine," which plans to hold over $1.5 billion worth of Ethereum (ETH).

HK-Listed Company WellCell to Launch Proprietary Global Stablecoin Payment Platform

Guangzhou WellCell Co., Limited (2477.HK) announced on Hong Kong Stock Exchange that the company is entering the crypto payment sector and will release its first mobile application, "Fopay," on July 21. The app provides a one-stop payment platform developed based on the concept of stablecoin crypto payments. Currently, it offers stablecoin custody and prepaid card payment functions through several licensed partners. The board believes that launching Fopay and the new business segment will help the company explore more opportunities and benefit shareholders overall.