Flash News

TREE NEWS update: Distressed-asset firm Echo Base has formed a claimholder committee for creditors of crypto exchange BitMart and is weighing an involuntary bankruptcy filing. Echo Base says BitMart never responded to its offer of up to $10 million to fund a court-supervised bankruptcy. The committee aims to organize creditors to pursue recovery.

TREE NEWS update: Utah has become the first US state to target VPNs in its age-verification crackdown, raising First Amendment concerns. Privacy advocates argue the law poses constitutional questions that courts have yet to resolve, potentially setting a precedent for other states.

TREE NEWS update: The CFTC has asked a judge to dismiss CME’s challenge to its classification of perpetual futures as futures rather than swaps. At an Unchained panel, lawyers from Hyperliquid Policy Center, WilmerHale, and Temporal supported the CFTC’s stance, arguing that perps are futures. The move could shape regulatory oversight of crypto derivatives.

TREE NEWS update: Coinbase has filed notices with the SEC in a bid to offer single-stock perpetual futures to US customers, expanding its equity-derivatives lineup beyond thematic stock indexes. The exchange still needs CFTC product approval, which it states as the next step.

TREE NEWS update: Revolut announced that the Office of the Comptroller of the Currency (OCC) has conditionally approved its proposed US national bank charter. The fintech still requires clearances from the FDIC, Federal Reserve, and final OCC approval before a planned 2027 launch, which will offer insured deposits, credit, and crypto access.

TREE NEWS update: The U.S. Commodity Futures Trading Commission (CFTC) has filed to dismiss a lawsuit brought by CME Group over crypto perpetual futures. The CFTC’s lawyers called the suit “much ado about nothing,” arguing that CME lacked standing to file and contesting its claims regarding the agency’s oversight of such products.

TREE NEWS update: The U.S. Securities and Exchange Commission today proposed rescinding its “pay-to-play” rule that bars investment advisers from providing compensated services to government clients for two years after certain political contributions. The proposal, if adopted, would remove restrictions aimed at curbing conflicts of interest in public pension fund management. Public comment will be sought.

TREE NEWS update: The US Department of Justice issued a legal opinion on the 2nd, requiring states receiving federal benefits funding to expand reporting of illegal immigrant information to Homeland Security or face funding cuts. This move pressures states to cooperate with federal immigration enforcement, as previously only state agencies administering benefits programs had reporting duties. President Trump’s tightened immigration policies since January 2025 have intensified partisan conflict.

TREE NEWS update: Senator Bernie Sanders will introduce a bill to pause advanced AI development and create a federal regulator, with violators facing up to 20 years in prison. The forthcoming legislation targets frontier AI models, marking a significant regulatory push in the AI sector.

TREE NEWS update: Coinbase announced plans to launch single-stock perpetual futures in the US, having filed registration notices this week with the SEC for its derivatives exchange and broker. The exchange will work closely with the SEC and CFTC to bring more major financial products to the US market.

TREE NEWS reports: Michigan authorities continue efforts to block Kalshi, with a Supreme Court battle looming. Kalshi earlier said it faced an “impossible position” after federal authorities directed it to ignore a Michigan restraining order issued in June. The ongoing dispute highlights regulatory tensions over prediction markets.

TREE NEWS update: Revolut said it received preliminary approval from the Office of the Comptroller of the Currency (OCC) to become a US bank, marking an important step toward its US banking ambitions. The conditional approval allows the fintech to proceed with establishing a national bank charter, subject to meeting certain requirements.

TREE NEWS update: House Republican leadership has canceled voting sessions scheduled for the weeks of September 21 and September 28. The House will reconvene on September 14 for a four-day agenda before leaving Washington until after the midterm elections. This schedule makes it highly unlikely that the CLARITY Act will pass before the midterms.

TREE NEWS update: On September 3, the US House of Representatives passed the Protecting Economic and Academic Freedom Act, which aims to block federal assistance to universities that boycott Israel. The vote was 237-169. The bill now moves to the Senate for approval before it can become law.

TREE NEWS update: Two Thai businessmen are suing Tether in Manhattan federal court over 42,417,785.62 USDT blacklisted across 10 Ethereum addresses. Onchain records show all 10 were frozen in a single two-and-a-half-minute batch on Oct. 30, 2025, and the seizure warrant cited in the complaint is dated Feb. 19, 2026.

TREE NEWS update: The U.S. Commodity Futures Trading Commission asked a judge to dismiss CME Group’s lawsuit challenging its approval of Kalshi’s Bitcoin perpetual futures contract. The regulator argues CME cannot contest the approval without showing concrete financial harm. The lawsuit stems from CME’s claim that Kalshi’s product overlaps with its own offerings.

TREE NEWS update: The Dutch central bank said Tuesday it transferred about 86 tonnes of gold reserves from New York and Ottawa to London between March and August to diversify risk and prepare for crises. France has concentrated all its 2,437 tonnes domestically since April, while Germany repatriated 300 tonnes from the US in 2013-17. Expert Wan Zhe says gold repatriation signals eroding trust in the dollar system and accelerating global reserve diversification.

TREE NEWS update: Commerce Secretary Howard Lutnick said Anthropic’s issues with the Trump administration have been resolved, but a senior Pentagon official disagrees. Deputy Under Secretary of Defense for Research and Engineering Emil Michael said on social media Thursday that the Pentagon’s determination that Anthropic poses a supply chain risk remains in effect.

TREE NEWS update: BitMEX co-founder Arthur Hayes contributed 75% of Reform UK’s donations in Q2 2026, the party led by Nigel Farage has accepted. The contributions from crypto-industry figures raise questions about potential influence on UK policy. No specific policy changes have been proposed.

TREE NEWS update: Apple is facing a £2 billion ($2.7 billion) class action lawsuit filed by app developers, who allege the company abused its market dominance by imposing stricter App Tracking Transparency (ATT) rules on third-party apps to favor its own advertising business. The lawsuit, reported by Reuters, comes ahead of Apple’s new product launch. Developers claim the restrictions caused significant losses for businesses relying on Apple’s platform.