CME Group reported record trading activity across its markets in 2025 with average daily volume (ADV) reaching 28.1 million contracts up 6% from the previous year. The gains were broad-based spanning interest rates, equities, commodities and cryptocurrencies, showing CME’s central role in global risk management as macro volatility and institutional participation intensified. In the fourth-quarter ADV climbed to a record 27.4 million contracts while December ADV reached 23.5 million marking the strongest ...

Russians are warming to crypto, encouraged by the country’s banks and regulators. And they’re using cutting-edge solutions to build an investment ecosystem that can sidestep Western sanctions, past, present, or future. For Moscow, the future of finance is digital — and it lives on a blockchain. But while they’ve turned to traditional digital assets like Bitcoin, analysts expect a Russian take on tokenised securities and commodities, industrial Bitcoin mining, and crypto derivatives to take off in 2026. ...

The broader crypto market is facing yet another selling pressure, with daily liquidations soaring past $250 million ahead of the US GDP data release on Dec. 23. After the rejection at $90,000, Bitcoin price is down 2.4% as of press time and is currently trading at $87,546. Ethereum and other altcoins have also corrected by a similar magnitude as market volatility picks up. Crypto Market Faces Heightened Volatility Ahead of U.S. GDP Data The overall crypto market cap has dropped 2.46% to $2.96 trillion ...

Nearly half of younger US investors now hold crypto as traditional wealth-building paths grow increasingly out of reach, according to new data from Coinbase. The findings show that 45% of younger investors already own crypto, compared to just 18% of older generations, and that three-quarters believe their generation faces harder odds of building wealth through conventional means than previous cohorts did. The State of Crypto Q4 2025 report, compiled from a survey of 4,350 US adults, including 2,005 acti ...

Core Insights - Global hedge funds are increasingly investing in crypto markets, with over half now holding crypto-related assets, driven by the U.S. government's supportive stance on digital assets [1][2] Group 1: Hedge Fund Investment Trends - 55% of hedge funds hold crypto-related assets, up from 47% the previous year, with an average allocation of 7% of their holdings to crypto [2] - More than half of the hedge funds with crypto investments allocate less than 2% of their total assets to this sector [2] - An influx of new capital has led hedge fund assets to reach nearly $5 trillion in Q3 2025 [5] Group 2: Market Dynamics and Regulatory Environment - Cryptocurrency prices have surged in 2025, with Bitcoin reaching record highs, influenced by U.S. President Donald Trump's support and favorable regulations [3] - The past year has been pivotal for U.S. crypto regulation, with expectations for long-term regulatory stability [4] - 67% of funds invested in crypto plan to increase their investments in the next 12 months, primarily through crypto derivatives [4] Group 3: Risks and Challenges - The use of crypto derivatives, which allow funds to speculate on price movements without holding the underlying assets, introduces market risks [4] - A flash crash in October highlighted vulnerabilities related to excessive leverage and inadequate institutional infrastructure [5] - The funds surveyed manage approximately $982 billion in assets [5]

Core Insights - Deribit, a crypto derivatives exchange acquired by Coinbase, is collaborating with Komainu to enable continuous trading for institutions without moving assets off custody [1][2] - The partnership integrates Deribit with Komainu Connect, allowing institutional clients to trade while keeping their funds within Komainu's regulated custody, addressing counterparty and settlement risks [2][4] - The crypto derivatives market is moving towards mainstream financial adoption, with expectations of increased institutional participation from Europe and the U.S. [3] Company Insights - Komainu, supported by Laser Digital and associated with Nomura, provides secure, bankruptcy-remote segregated wallets and accommodates various collateral types, including tokenized Treasury funds and staked ether [4] - The integration between Deribit and Komainu is aimed at fulfilling the growing demand for secure and compliant digital asset trading among institutions [4] - Deribit's chief commercial officer emphasized the importance of security and efficiency for clients, highlighting the benefits of the partnership with Komainu [5]

Core Insights - The Russian Central Bank plans to conduct a large-scale audit of the nation's crypto holdings and transactions in early 2026, reflecting its growing attention to the risks and opportunities in the crypto space [1][2][3] Group 1: Audit and Review Plans - The Central Bank will review individual investments in digital financial products tied to cryptoasset prices, likely focusing on crypto derivatives launched on the Moscow Exchange [2][3] - A survey will be conducted over the first two months of 2026 to assess the volume of investments in cryptocurrencies by regulated entities, including for risk hedging purposes [3] Group 2: Regulatory Environment - The Central Bank and the Ministry of Finance have differing views on crypto policy, with the Ministry seeking to regulate and tax the industry while the Bank prefers to restrict crypto's role in the economy [4] - The information from the upcoming survey is expected to help form regulatory policy aimed at legalizing the market to generate tax revenue [5] Group 3: Current Market Dynamics - The Central Bank has ordered the Moscow Exchange and commercial banks offering crypto derivatives to provide monthly reports on transactions and volumes [3] - There are indications that several companies are engaging in direct crypto-powered trade with international partners [7]

Group 1: Prop Firms in India - Prop firms in India are utilizing "education" branding to attract clients while avoiding banned terms like forex and CFDs [1][2] - Approximately 40% of organic website traffic for the top 50 prop firms comes from India, with significant increases in local interest for "prop firm" and "prop trading" since 2023 [2] Group 2: Regulatory Changes in Europe - The Cyprus Securities and Exchange Commission (CySEC) has imposed tighter leverage limits for CFDs, capping it at 10:1 for non-major commodity and index CFDs [3] - Brokers in Europe are adjusting their offerings and compliance setups in response to these new regulations [3] Group 3: Capital.com Performance - Capital.com reported that the Middle East and North Africa (MENA) region accounted for 52% of its trading volume in H1 2025, with UAE traders contributing nearly three-quarters of MENA's total [5] - The broker processed $804.1 billion in trading volume across the region, marking a 53.3% increase from the previous six months [5] Group 4: ATC Brokers Financial Results - ATC Brokers experienced a 125% increase in revenue to £12.7 million for the year ending April 30, 2025, with operating profit doubling to £1.87 million [6] - Commissions and brokerage income rose significantly, contributing £7.84 million and £4.8 million respectively, reflecting increases of 151% and 100% from the previous year [6] Group 5: Revolut's Market Position in Poland - Revolut has surpassed 34 traditional Polish brokerage firms to become the second-largest player in Poland's retail trading market, although it still trails behind XTB [7] - XTB held nearly 615,000 Polish market accounts, while Revolut reported 590,000 investment accounts as of the end of August [7] Group 6: Capital Index UK Financial Performance - Capital Index (UK) Limited narrowed its annual losses for 2024 to £18,000, a significant improvement from the previous year's larger deficit [9] - The company reported a pre-tax profit of £23,678 for the year ended December 31, 2024, a turnaround from a pre-tax loss of £207,006 in 2023 [9] Group 7: Crypto Derivatives Market - Derivatives trading has become the leading driver in crypto markets, with volumes now surpassing spot markets [10] - A webinar hosted by Shift Markets will focus on the rise of crypto derivatives and their impact on digital asset trading [10] Group 8: Kraken's Acquisition - Kraken has acquired Breakout, a crypto-native proprietary trading firm, marking the first integration of a prop trading arm into a major exchange [11] Group 9: Retail Investor Sentiment - Retail investors in the US are showing renewed optimism, with 38% believing the US offers the strongest long-term return potential according to eToro's latest survey [13] Group 10: CFTC Considerations - The Commodity Futures Trading Commission (CFTC) is considering allowing trading platforms licensed under Europe's MiCA framework to operate in the US markets [14] Group 11: FCA Charges - The Financial Conduct Authority (FCA) has charged three UK-based finfluencers for promoting high-risk CFDs without proper authorization [15][16] Group 12: Robinhood's New Platform - Robinhood announced plans for a new social trading platform that allows users to share live positions and trading performance, aiming to compete with Reddit's WallStreetBets community [17][18] Group 13: Nasdaq's Proposal - Nasdaq has filed a proposal with the SEC to introduce tokenized securities, aiming to combine digital assets with the established infrastructure of US equity markets [19] Group 14: Oracle's Stock Surge - Oracle's ambitious cloud revenue forecast has led to a significant increase in its stock price, impacting founder Larry Ellison's net worth [20] Group 15: Tesla's Pay Package for Elon Musk - Tesla has proposed a pay package for Elon Musk that could be worth nearly $1 trillion over the next decade, potentially making him the first trillionaire [21]

Group 1 - Institutional adoption of cryptocurrency is still in early stages, but momentum is building, particularly following Bullish's August IPO and the passage of the GENIUS Act, which has provided regulatory clarity for large investors [1][2] - The Chicago Mercantile Exchange reported record institutional open interest in crypto derivatives, with institutions holding approximately 25% of bitcoin ETPs, and an EY survey indicated that 85% of firms either currently allocate to digital assets or plan to by 2025, driven by regulatory factors [2] - Ether (ETH) and Solana (SOL) are identified as primary investment vehicles in the crypto space, with Ether rising nearly 20% and Solana increasing 17% since the GENIUS Act passed [3] Group 2 - Bullish has emerged as an institutional proxy in equities, with its shares climbing 45% since the IPO, and potential for further growth if it secures a BitLicense later this year [3] - JPMorgan maintains a neutral rating on Bullish shares with a price target of $50, while the stock was trading at $54.50 on Wednesday [4]

Acquisition & Strategy - Coinbase finalizes acquisition of Deribit, aiming to become the most comprehensive global crypto derivatives platform [1] - The acquisition enables Coinbase to offer a complete range of trading products: spot, futures, perpetuals, and options on one platform [2] - Coinbase aims to strengthen its position against global competition in the derivatives market by integrating Deribit's infrastructure and user base [4] - The acquisition boosts Coinbase's ability to scale globally, offering deeper liquidity and broader participation in international markets [2] - Coinbase sees this as an opportunity to lead the next wave of innovation in the derivatives space [3] Deribit's Performance - Deribit experienced a record-breaking month in July 2025, with trading volumes surpassing $185 billion and approximately $60 billion in open interest [1][2] - Deribit generated more than $30 million in transaction revenue in July 2025 [3] Financial Impact - Deribit is expected to add approximately $10 million to Coinbase's technology, development, and administrative costs in Q3 2025, excluding deal-related amortization [4] - Coinbase anticipates that Deribit will be Adjusted EBITDA accretive immediately after the deal closes [4] - Coinbase's Q3 2025 results will include Deribit's contribution from August 14 to September 30, indicating a significant revenue opportunity [3]