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CFTC Launches “Future-Proof” Program

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The U.S. Commodity Futures Trading Commission (CFTC) has launched a new program called Future-Proof to modernize its rules for crypto assets and prediction markets.

CFTC Chair Mike Selig said the agency’s current regulations were originally written for agricultural futures and are no longer suitable for today’s fast-growing crypto and financial technology markets. Selig explained that prediction markets and digital assets have expanded quickly, but clear regulations have not kept up. Crypto is now a multi-trillion-dollar global industry, and the CFTC believes updated, transparent rules are needed to protect investors while allowing innovation to grow.

To guide this process, the agency will rely on its Innovation Advisory Committee, which will make policy recommendations on crypto, prediction markets, and other emerging asset classes. Selig also criticized the CFTC’s past approach of relying mainly on enforcement actions. Under the Future-Proof initiative, the agency wants to shift toward a balanced regulatory strategy that protects markets without slowing innovation.

CFTC Pushes for Clearer Crypto Rules

Selig has also emphasized that rules should be clear, flexible, and designed for modern financial systems. The program also recognizes the growing role of artificial intelligence and blockchain in finance. These technologies now allow for 24/7 trading. For example, the New York Stock Exchange has announced plans to use blockchain for its tokenization platform, enabling round-the-clock trading of stocks and ETFs.

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Looking ahead, Selig said the CFTC must prepare for broader responsibilities as the crypto market continues to expand. Under the proposed CLARITY Act, the CFTC and the SEC would share more oversight of the industry. Selig believes the CFTC is well-positioned to regulate blockchain-based assets.

This announcement follows years of tension between U.S. regulators and cryptocurrency companies. Industry leaders, including Coinbase CEO Brian Armstrong, have argued that unclear rules in the U.S. have slowed innovation and forced some firms to move abroad. Selig said the CFTC will move away from “regulation by enforcement” and instead introduce purpose-specific rules through public consultation.

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FG Nexus Offloads $14M in ETH as Corporate Ethereum Treasuries in Pain

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Cryptocurrencies, Ethereum, Bitcoin Price, MicroStrategy, Institutions

FG Nexus, a publicly listed Ethereum treasury and infrastructure company, liquidated another chunk of its Ether treasury on Tuesday, offloading 7,550 ETH worth roughly $14 million.

The latest sale adds to a series of disposals that have locked in more than $80 million in losses on a position built near Ether (ETH) 2025 highs. 

Onchain data from Arkham shows that the firm accumulated 50,770 ETH worth around $196 million between August and September 2025 at an average price of $3,860 per coin.

On Oct. 22, the company doubled down on its ETH accumulation strategy, announcing its intention to sell its Quebec property to accumulate more ETH.

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Cryptocurrencies, Ethereum, Bitcoin Price, MicroStrategy, Institutions
FG Nexus sells 7,550 ETH. Source: Arkham

As the market turned and the ETH price fell from its October highs of over $4,600 per coin to around $2,700 in November, the company began selling.

FG Nexus has offloaded just over 21,000 ETH for about $55 million, and netted a loss of over $80 million.

The company has also seen its share price for FGNX drop roughly 52% over the past month. 

Cryptocurrencies, Ethereum, Bitcoin Price, MicroStrategy, Institutions
FG Nexus share price takes a beating. Source: Google Finance

FG Nexus remains one of the largest publicly traded owners of ETH, with holdings of 37,594 ETH, according to Arkham.

ETH treasury companies under fire

FG Nexus isn’t alone in feeling the pain from an Ether downturn that has left many large corporate treasuries deeply underwater.

Bitmine Immersion Technologies, by far the largest listed ETH holder with 4,422,659 ETH on its books, is sitting on paper losses estimated at around $8.8 billion as Ether trades well below its average acquisition price, even as the company continues to add to its stash

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Related: ETHZilla liquidates $74.5M in Ether to redeem convertible debt

Peter Thiel’s Founders Fund exited its stake in Ethereum treasury firm ETHZilla entirely last week, with ETHZilla’s stock now down about 97% from its all‑time high, as equity markets punish aggressive Ether‑heavy strategies, with other companies actively unwinding.

Trend Research spent February slashing its Ether position on Binance, selling 651,757 ETH for about $1.34 billion on Feb. 8, and locking in an estimated realized loss of around $747 million.

Bitcoin treasury plays feel the heat

The strain on crypto treasury plays is not limited to Ethereum. On Feb. 20, Bitcoin (BTC) treasury company Metaplanet came under fire from shareholders, accusing the company of hiding losses and key details of its Bitcoin bets.

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Despite continued BTC purchases throughout February, on Wednesday, the largest listed owner of BTC, Strategy, became the most-shorted large-cap US stock according to data from Goldman Sachs, as hedge funds turned bearish on Saylor’s highly leveraged, Bitcoin‑centric balance sheet model.

Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation — Santiment founder