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CFTC Forms Innovation Advisory Committee With 35 Crypto and Finance Industry Leaders

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21Shares Introduces JitoSOL ETP to Offer Staking Rewards via Solana

TLDR:

    • CFTC appoints 35 industry leaders to Innovation Advisory Committee for derivatives oversight 
    • Committee includes executives from Coinbase, Kraken, Gemini, CME Group, and Nasdaq platforms 
    • Chairman Selig aims to future-proof markets through collaboration with diverse stakeholders
    • Academic experts and venture capital firms join traditional finance leaders on advisory panel

 

The Commodity Futures Trading Commission announced the members of its Innovation Advisory Committee on February 12, 2026.

Chairman Michael S. Selig nominated 35 industry leaders representing cryptocurrency platforms, traditional exchanges, and clearing organizations.

The committee will advise the agency on emerging technologies, including artificial intelligence and blockchain. Michael Passalacqua was named as the designated federal officer for the panel.

Diverse Industry Representation Across Financial Sectors

The newly formed committee brings together executives from various segments of the financial markets. Cryptocurrency exchange leaders include Brian Armstrong from Coinbase, Arjun Sethi from Kraken, and Tyler Winklevoss from Gemini. Traditional market operators such as Terry Duffy of CME Group and Adena Friedman of Nasdaq also joined the panel.

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The CFTC shared the announcement through its official social media channels. The agency posted details about the committee formation and member appointments. The communication emphasized the collaborative approach between regulators and market participants.

Prediction market operators received representation through Shayne Coplan of Polymarket and Tarek Mansour of Kalshi. Sports betting platforms gained seats with Jason Robins from DraftKings and Christian Genetski from FanDuel.

Blockchain infrastructure providers include Hayden Adams of Uniswap Labs and Anatoly Yakovenko of Solana Labs.

Academic perspectives will come from Professor Harry Crane and Professor Carla Reyes. Venture capital representation includes Chris Dixon from a16z crypto and Alana Palmedo from Paradigm.

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Clearing and settlement infrastructure leaders such as Frank LaSalla from DTCC round out the diverse membership roster.

Forward-Looking Regulatory Framework Development

Chairman Selig described the committee formation as marking an important moment for the agency. “Today marks an important and energizing moment at the CFTC as the Innovation Advisory Committee takes shape,” he stated.

The chairman added that the group’s work would help ensure decisions reflect market realities and future-proof markets.

The committee will focus on helping the Commission adapt to rapid technological changes. Members will provide expertise on how innovations are reshaping derivatives and commodity markets.

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Chairman Selig emphasized the goal of developing clear rules for what he called the Golden Age of American Financial Markets.

Maintaining America’s position in global financial markets represents a key priority for the Commission. “America is home to the most transparent and well-regulated financial markets in the world, but we cannot assume that this will always be the case,” Chairman Selig cautioned. He stressed the importance of continuous modernization efforts to preserve this status.

The chairman highlighted the value of diverse market perspectives in regulatory development. “By bringing together participants from every corner of the marketplace, the IAC will be a major asset for the Commission,” Selig explained.

The agency aims to modernize rules and regulations for current and future innovations through this collaborative approach.

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Square launches zero-fee Bitcoin payments for US merchants through 2026: Square

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Square launches zero-fee Bitcoin payments for US merchants through 2026: Square


Square is waiving processing fees for Bitcoin payments at US merchants for two years, with instant dollar conversion to reduce adoption barriers.

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$80M Hyperliquid Whale Bet Predicts Bitcoin Crash and Oil Rally

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$80M Hyperliquid Whale Bet Predicts Bitcoin Crash and Oil Rally

Key takeaways:

  • A Hyperliquid whale placed an $80 million bet against Bitcoin and the S&P 500 while going long on Brent crude oil prices.

  • The whale’s history of massive losses and inconsistent signals suggests the trade could fall on the wrong side of the market.

Bitcoin (BTC) showed strength on Wednesday, bouncing back from Tuesday’s $66,000 low after President Donald Trump teased a potential ceasefire in the US and Israel-Iran war. Even with Bitcoin trading above $68,000, one whale used Hyperliquid DEX to place an $80 million bet on a market collapse. 

Traders are now watching closely to see if this whale’s massive position signals a looming Bitcoin price drop.

Hyperliquid whale 0x94d373…c933814 position. Source: CoinGlass

The Hyperliquid whale, linked to address 0x94d373…c933814, carefully built this nearly $80 million leveraged position between Tuesday and Wednesday. The trade includes a $40 million short (sell) on Bitcoin futures near $68,760, a $2 million short on synthetic S&P 500 Index contracts, and a $37 million long (buy) in synthetic Brent oil contracts.

Crude Brent oil (left) vs. Bitcoin/USD (right). Source: TradingView

The whale’s aggregate position leverage stood at 7 times, indicating high conviction. The Bitcoin futures liquidation price was $80,083, while the Brent oil position would be forcefully terminated above $93. The timing of the trade is curious as S&P 500 Index futures gained 4% between Tuesday and Wednesday as traders anticipate the US and Israel-Iran war dissipating over the next few weeks.

On Wednesday, President Trump said “Iran’s New Regime President” is considering a “ceasefire,” although the conditions to fully reopen the Strait of Hormuz remain unknown. Iran demands reparations and sovereignty. Thus, one could assume that the Hyperliquid whale is counter-trading the market’s optimistic take, betting that Brent crude oil prices will jump while Bitcoin loses its value.

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This Hyperliquid whale previously lost $40 million

This address belongs to a particularly unlucky whale, or at least one who has been extremely unsuccessful since late January. The Hyperliquid whale apparently uses bots for execution, given the sheer number of small trades that build into huge positions, but it still managed to lose $37 million in its first month of activity in December 2025.

The same user was flagged by X user ‘lookonchain’ on Feb. 5 after taking a massive loss on leveraged bullish bets on Ether (ETH), Bitcoin, Solana (SOL), and XRP (XRP). 

Source: X/lookonchain

According to the analysis, the whale had previously made $25 million in profits from shorts in multiple cryptocurrencies, but decided to flip the position on Feb. 4, resulting in a $40 million loss. There is no way to know exactly what triggered this entity to place those bets, but the event proves that even whales can misinterpret the market.

Related: Warren Buffett bought $17B in US T-bills: A bad omen for Bitcoin price?

The erratic signals from President Trump regarding a potential full-on invasion and the war in Iran leave room for opposing views. Iranian Foreign Minister Abbas Araghchi denied there were talks for a ceasefire but confirmed to Al Jazeera on Tuesday that there was an intention to end the war, according to CNBC.

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Given the history of this whale’s market positioning and its track record of losing trades, it’s possible that the current $80 million bet may fall on the wrong side of the market.