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StablecoinX ENA lock-up ends permanently on Oct. 5
StablecoinX has secured a permanent waiver ending the 48-month lock-up on its ENA holdings from Oct. 5, 2026, while leaving separate controls on token sales in place.
Summary
- Oct. 5 will bring StablecoinX’s ENA holdings onto the same unlock schedule as other holders.
- The waiver removes lock-up, vesting, and scheduled-release rules covering the company’s ENA.
- StablecoinX must provide five business days’ notice before using ENA for an approved funding sale.
- Ethena Foundation retains consent rights over sales, transfers, loans, hedges, and other uses of the tokens.
StablecoinX ENA restrictions will end on Oct. 5
StablecoinX said in a Sep. 17 X post that it had filed a Form 8-K detailing a waiver signed with Ethena OpCo and the Ethena Foundation.
Under the SEC filing, the parties signed the waiver letter on Sep. 14, with the changes scheduled to take effect on Oct. 5.
The agreement permanently removes all lock-up, vesting, and unlocking restrictions on ENA held by, or due to be delivered to, StablecoinX and its subsidiaries. Covered tokens include ENA that the company acquired through private investment in public equity agreements linked to its business combination with TLGY Acquisition Corp.
A 48-month contractual lock-up and its installment-based release schedule had previously applied to tokens purchased under those agreements. Once the waiver takes effect, the released restrictions cannot return, according to the waiver letter.
The document states that Ethena OpCo and the foundation will “waive, release and terminate each and every Lock-Up applicable to the Subject Tokens.”
ENA obtained through staking or a protocol-wide distribution mechanism will also fall under the waiver when covered by the earlier token purchase agreements. Oct. 5 matches the date that the Ethena Foundation previously announced for the release of locked tokens held by other ENA holders.
ENA sales still require Ethena Foundation consent
Removing the lock-up does not give StablecoinX unrestricted control over how it uses the ENA.
According to the waiver letter, StablecoinX must continue holding the tokens as permanent, unencumbered treasury assets unless it receives prior written consent from the Ethena Foundation or completes a sale under the new funding framework.
The requirement covers sales and transfers as well as lending, hedging, pledging, collateralization and other forms of encumbrance. Separate approvals may also be required from StablecoinX’s board, investment committee or holders of its Class B shares.
Legal and regulatory limits remain unaffected. The agreement specifically preserves restrictions arising under the U.S. Securities Act, Rule 144, affiliate status and any applicable registration or listing requirement.
For U.S. investors, the disclosure is material because StablecoinX trades on Nasdaq under the symbol USDE, while its public warrants trade as USDEW. Its shares give stock-market investors indirect exposure to Ethena’s governance token without requiring them to buy or hold ENA directly.
StablecoinX filed the agreement with the U.S. Securities and Exchange Commission under Item 1.01, which covers entry into a material definitive agreement. Chief Financial Officer Young Cho signed the Form 8-K on Sep. 17.
Funding sales must follow a five-day review
Alongside the permanent unlock, the parties created a process through which StablecoinX may sell ENA to meet working capital or strategic needs tied to activities supporting the Ethena ecosystem.
A proposed funding sale requires StablecoinX to send the foundation written notice at least five business days before the planned transaction. The notice must explain how the proceeds will be used, identify the maximum number of tokens involved, and state the minimum acceptable price.
StablecoinX must also disclose how it plans to execute the sale, including whether it will use an exchange, an over-the-counter transaction, a market maker, or an agency arrangement. Any firm third-party offer must appear in the notice.
During the five-day review, the Ethena Foundation may elect to buy all or part of the proposed ENA allocation at the stated price. Settlement may occur in U.S. dollars, USDC, USDe or USDtb, depending on the terms agreed by the parties.
If the foundation neither responds nor exercises its purchase right within the review period, StablecoinX may proceed with a qualifying funding sale. Cleared transactions must be completed within 60 days, after which the company must issue another notice.
The agreement requires StablecoinX to conduct each sale in an orderly manner and use commercially reasonable efforts to limit disruption to the ENA market. Possible methods include spreading sales over time or using over-the-counter and agency arrangements.
Ethena Foundation may request further discussions if it reasonably determines that a proposed transaction is unrelated to an approved activity, could disrupt an orderly ENA market, or may breach a law or existing agreement. Such discussions can last no more than another five business days.
Eligible uses include general working capital, strategic investments, corporate acquisitions, and software development beyond StablecoinX Harness and its decentralized verifier node operations. The framework also covers share repurchases conducted under an approved Rule 10b5-1 plan, provided the foundation has received and approved the plan and the company has met its disclosure duties.
StablecoinX holds about 20% of ENA supply
StablecoinX’s treasury contained approximately 3 billion ENA at the end of the second quarter, equal to about 20% of the token’s total supply, crypto.news reported in August.
Using ENA’s June 30 closing price of $0.07204, the company valued the position at $218.4 million, or about $9.09 for each of its 24,029,375 Class A shares then outstanding. StablecoinX recorded $212.9 million in digital intangible assets after accounting for impairment.
The company’s treasury strategy began with a $360 million ENA plan announced in July 2025. The financing included $60 million in tokens from the Ethena Foundation and $260 million in cash intended for ENA purchases.
Following its Nasdaq trading debut in June 2026, StablecoinX reported that it held approximately 3.029 billion ENA, valued at $275 million using the 30-day volume-weighted average price applied before the transaction closed.
Beyond its token holdings, StablecoinX operates a decentralized verifier node that processes cross-chain messages for Ethena products. As of Aug. 12, the company said the node had verified more than 10,000 messages representing over $3 billion in cumulative cross-chain volume.
“Now, the officers who are reviewing and adjudicating these cases have much more discretion in how they make that determination—whether they believe the person is likely to become a public charge,” says Melissa Shepard, the legal services director at the Immigrant Defenders Law Center. “The difference now is that it’s a much broader analysis, whereas before it was a little more limited.”
Adriana Cadena, the executive director of the Protecting Immigrant Families Coalition, says she worries that, because the new policy is so broad, it “opens the door for abuses by immigration officials” during the green card application process.
“It’s going from having guidance and clarity and understanding to opening the door to any kinds of programs,” she says.
How could the Trump Administration’s new rule affect immigrants?
Immigration experts say that the new policy could result in more green card applications being rejected, as well as cause many immigrants to delay seeking permanent resident status.
Warren Buffett stepped down as Berkshire Hathaway chairman on Friday and handed the seat to his son, Howard Buffett. The board named him chairman emeritus, a title that keeps him on the board without running it.
Greg Abel remains chief executive. He continues to make the day-to-day calls and decide where Berkshire’s money goes.
Buffett Steps Down as Berkshire Chairman After 56 Years
Howard Buffett has sat on the board since 1993, longer than his father spent in business before taking over Berkshire at 34. Susan Decker stays lead independent director. Chairman emeritus is an honorary title. It carries no command over the company.
The elder Buffett, who turned 96 last month, framed the change as a formality in a letter to shareholders.
“He has been making the decisions that matter for some time now, and I have not had to think twice about any of them,” the announcement stated, citing Warren Buffet, now Berkshire Hathaway chairman emeritus.
Class A shares closed Thursday at $763,936, down 2.10%. The Class B shares finished at $509.20, a 2.04% drop. That selling ran ahead of the announcement, and in Friday pre-market trade the B shares sat at $509.24, barely moved.
BeInCrypto flagged the fading Buffett premium last October, well before this year’s slide.
What Howard Buffett Has Said About Bitcoin
Nothing on the record. The new chairman built his public profile around farming, food security, and landmine clearance in Ukraine, not markets.
He has run the Howard G. Buffett Foundation since 1999 and served nearly a decade as a United Nations goodwill ambassador against hunger.
Fortune reported last year that he was on track to send about $1 billion in aid to Ukraine. He has never stated a position on Bitcoin or digital assets.
His father did, repeatedly, calling Bitcoin “rat poison squared” and later a gambling token.
The job Howard inherits is non-executive anyway. He guards culture. Abel writes the checks, and already kept the anti-Bitcoin stance when Berkshire’s cash pile hit a record $397 billion.
Whether Abel ever embraces Bitcoin remains the open question for crypto investors watching that balance sheet.
Friday’s opening bell will show whether shareholders read the handover as closure or as loss.
The post Warren Buffett Steps Down as Berkshire Chairman. How Will Stock React? appeared first on BeInCrypto.
Christine Lagarde personally asked Greek Prime Minister Kyriakos Mitsotakis to block Binance’s bid for a license to operate across the European Union, according to a Wall Street Journal report citing people familiar with the discussions.
The intervention came after Greek regulators had all but signed off on the application, raising an obvious question about how much sway the ECB president can exert over a process she has no formal authority over.
What Lagarde Reportedly Knew, and When She Acted
Binance had applied through Greece’s Hellenic Capital Market Commission (HCMC) for a license under the EU’s Markets in Crypto-Assets framework, the kind of approval that, once granted by one country, covers the entire bloc.
By early June, the application had cleared its technical review. The mandatory 40-day assessment period ended without objections, the HCMC’s anti-money laundering officer had signed off favorably, and notifications to other member states were reportedly already being prepared.
Then, sometime between June 7 and June 15, that changed. An HCMC official later told Binance that Lagarde opposed the license, and the Journal reported she had signaled as much to Mitsotakis directly during a May meeting, a position that overrode Greece’s own finance minister.
Some of that willingness to go along, the report suggested, may have had as much to do with Greek election timing as Binance’s case itself.
Her stated reasoning traced back to two things: Binance’s earlier guilty plea to US money laundering and sanctions violations, and a fear that letting the exchange into Europe would push more people toward dollar stablecoins right as the ECB was trying to get its own digital euro off the ground.
One legal expert described the episode as “political interference” in a licensing decision that legally belongs to an independent national regulator, since the ECB has no formal say over MiCA approvals at all.
A Retreat That Ended in France
Reuters first surfaced the Greek rejection risk in mid-June, and Binance pushed back hard at the time, insisting that HCMC’s review had found its application compliant and pointing to a compliance team that has grown to roughly 1,500 people since its 2023 US settlement.
That pushback did not hold. The firm later issued a statement indicating that it had decided to stop the license application process in Greece and was looking for authorization from other member states.
According to reports at the time, regulators in Ireland and Latvia had also turned the exchange down, citing its past penalties and complex structure.
Coinbase had already picked Luxembourg as its home base, and Kraken already held EU approval, with Binance leaning on France, where it holds a smaller registration and is in talks with the country’s financial markets regulator, Autorité des Marchés Financiers (AMF), as its remaining shot at a MiCA license covering all 27 member states.
The post Report: ECB President Personally Blocked Binance’s EU License appeared first on CryptoPotato.
Robinhood’s default route for crypto orders costs close to 2% to buy and then sell Bitcoin (BTC). The company’s own disclosures show the charge sits inside the price rather than arriving as a fee.
Delphi Digital co-founder Tommy Shaughnessy surfaced the figure this week. He posted a screenshot showing a Bitcoin spread of $1,426.03, then asked Robinhood’s chief executive to explain it.
Where the 2% Cost Comes From
The spread is the gap between the price to buy an asset and the price to sell it. That gap is where Robinhood gets paid.
The default setting, called market maker routing, sends crypto orders to an outside trading firm instead of an exchange. Robinhood Crypto receives $0.95 for every $100 of volume routed that way.
That payment sits inside the quoted prices. Buyers pay the higher number and sellers receive the lower one. A round trip therefore costs close to 2% before the market moves.
What the Screenshot Showed
Shaughnessy’s agent quoted a bid of $75,361.72 against an ask of $76,787.76 on Thursday. That gap came to 1.87%, which he called criminal for an asset this size.
“for anyone doing agentic crypto trades on Robinhood from the jump you are using the default market making approach so you are going to effectively pay 1% to buy and 1% to sell…,” wrote Shaughnessy.
Robinhood Says a Cheaper Route Exists
Johann Kerbrat, senior vice president and general manager of crypto at Robinhood pointed to a second option, Smart Exchange Routing, which charges a disclosed fee ranging from 0% to 0.95%.
That fee drops as a trader’s 30-day volume climbs. Kerbrat also rejected a separate claim that customers must sell their coins before moving them off the platform.
“withdrawals to an external wallet don’t require selling first. You can transfer BTC (or any supported crypto asset) directly out of your Robinhood Crypto account,” wrote Kerbrat.
Robinhood also bars agents from transferring, staking, or lending crypto. Two company engineers were charged in an insider trading case tied to Hyperliquid this month.
Robinhood opened agentic trading to crypto earlier this year, letting outside AI agents trade through a separate account. How much traders will pay for that convenience remains unsettled.
The post Trading Bitcoin on Robinhood? Why 2% Spread Has Traders Worried appeared first on BeInCrypto.
Ethereum’s push to speed up block production is gaining sharper backing from within the institutional community, as Ethereum Institutional (a non-profit) publicly endorsed Ethlabs’ effort to reduce Ethereum block times. The group argued that faster blocks are increasingly necessary as more institutional activity moves onchain.
The momentum also comes amid broader industry experimentation: other networks have already moved to shorten their slot or block targets, framing the changes around latency, confirmations, and competitiveness.
Key takeaways
- Ethereum Institutional backed Ethlabs’ motion to reduce Ethereum block times, saying “more institutional activity moves onchain” and requires Ethereum to be faster.
- Ethlabs points to support from 20 DeFi founders for EIP-8198 (“Quick Slots”), targeting an initial reduction in block time from 12 seconds to 10 seconds.
- Network-level speed initiatives are underway elsewhere, including Zcash’s approval for a faster target block time and Solana’s ongoing slot-time reductions.
- EIP-8198 is connected to Ethereum’s Hegotá upgrade path, with Ethlabs working to merge the proposal’s specifications into the main codebase and identify downstream dependencies.
Ethereum Institutional endorses faster blocks
On Friday, Ethereum Institutional posted on X urging the community to “make Ethereum faster.” The non-profit linked the case for quicker blocks to rising onchain usage by institutional participants, framing block-time reductions as a practical step rather than a purely technical optimization.
The statement aligns with Ethlabs’ broader push around EIP-8198, a proposal designed to shorten Ethereum’s initial block time. According to Ethlabs, the intent is to improve responsiveness and network performance in a competitive environment where other chains are actively adjusting their block or slot schedules.
Ethlabs’ “Quick Slots” gains DeFi backing
Earlier this week, Ethlabs published an article citing support from 20 decentralized finance (DeFi) founders for EIP-8198, also known as “Quick Slots.” The proposal’s stated goal is an initial reduction in Ethereum’s block time target to 10 seconds, down from 12 seconds.
While the initiative is ultimately a protocol-layer change, Ethlabs’ emphasis on DeFi founders is telling: DeFi relies heavily on predictable execution timing for activities such as swaps, lending, and liquidations. For users and developers, even modest changes in block intervals can influence how quickly transactions clear and how often protocols face edge-case timing issues.
Ethlabs also described its development plan: it said it is merging the proposal’s specifications with the main codebase and investigating potential downstream dependencies. That matters because implementation details—what components depend on current timing assumptions—can determine how disruptive or straightforward a protocol upgrade becomes.
Hegotá upgrade path and implementation uncertainty
EIP-8198 was authored in March and later proposed for inclusion in the Hegotá upgrade at the Ethereum core developers meeting on Aug. 6. Ethlabs’ work suggests the proposal is being treated as more than an idea: the organization is actively preparing it for integration into Ethereum’s broader upgrade roadmap.
The article further indicates that Ethereum developers could begin implementing Hegotá in late 2026, following “Glamsterdam,” described as one of the most consequential upgrades of the year, built to improve scalability and harden the mainnet.
Even with this timeline framing, readers should treat the schedule as contingent. Ethereum upgrade sequences depend on engineering readiness, testing outcomes, and consensus priorities among core developers. The key point for observers is that EIP-8198 is already moving through the “proposal-to-integration” pipeline, and Ethlabs is taking steps to handle compatibility considerations early.
Speed competition: Zcash and Solana accelerate their blocks
Ethereum’s faster-block push is unfolding alongside similar efforts in other ecosystems.
On Monday, a majority of Zcash token holders backed a change to cut the network’s target block time to 25 seconds from 75 seconds, as previously reported in coverage of Zcash’s community decision-making around faster blocks and its broader protocol schedule. The relevance for investors and users is straightforward: shorter target intervals can reduce waiting time and improve the real-world responsiveness of onchain settlement.
Solana has also been actively adjusting timing parameters. In August, Solana reduced its slot time from 400 milliseconds to 350 milliseconds, according to earlier reporting. And in June, the Solana Foundation shared plans to further reduce slot times from 400ms to 200ms, arguing that the change would improve latency and speed confirmations across the network.
These changes show a common industry pattern: chain designers are treating time-to-finality and execution responsiveness as competitive features, not just internal performance metrics. For Ethereum, where institutions and DeFi users care deeply about predictable execution windows, block-time reductions can improve user experience and potentially reduce friction in time-sensitive flows.
Why the block-time debate matters now
Block-time reductions are often discussed as a tradeoff between speed and stability, because faster cadence can increase pressure on infrastructure and sequencing assumptions. In this case, Ethlabs’ framing—coupled with Ethereum Institutional’s call for faster execution as institutional onchain activity grows—suggests the community is prioritizing timeliness as a practical necessity.
At the same time, the initiatives across Zcash and Solana underscore a strategic tension. If other networks continue to shorten their block or slot targets, they may capture users who prioritize low-latency interactions, particularly in trading and DeFi contexts. Ethereum’s move toward EIP-8198 and its pathway into Hegotá can be read as a response to that competitive dynamic.
What remains uncertain is how quickly and smoothly these protocol-level changes can be introduced, and what the final performance and operational impacts will be under mainnet conditions. The next signals to watch are concrete implementation updates from core developers after the relevant upgrade stages, along with ongoing analysis of dependencies and risks tied to shorter block targets.
JPMorgan has abandoned its baseline view of the war in Iran, telling clients it can no longer model the endgame.
Natasha Kaneva, the bank’s head of global commodities strategy, noted that many of the economic redlines it once trusted have been crossed.
The Thresholds JPMorgan Thought Would Hold
The war began on February 28 and has now run into its seventh month. JPMorgan assumed that pain in oil, fuel, and bond markets would push President Donald Trump to strike a deal to reopen the Strait of Hormuz.
The bank had several thresholds in mind. Oil above $100, gasoline close to $5 a gallon, and the 10-year Treasury yield above 5%.
Those thresholds have since gone. The 10-year Treasury yield crossed 5% this week, its highest in three years. US diesel hit a record $6.31 a gallon with inventories at all-time lows, Kaneva said.
An interim agreement did arrive in June. Fighting resumed within weeks, and escalation has continued since.
“For the first time since the start of the Iran conflict, we don’t have a baseline view,” Kaneva wrote. “We simply don’t know how to model the endgame.”
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The Bill Lands at the Pump
JPMorgan sees Brent’s fair value near $90, compared with its current price of around $105. According to Kaneva, each 1 million bpd of lost supply could add roughly $4 to futures prices.
Current prices, therefore, imply about 4 million bpd in additional losses beyond the 10 million bpd already disrupted.
Still, oil inventories may cushion the impact of a prolonged disruption. Stocks have fallen 555 million barrels, far below JPMorgan’s earlier 1.6 billion-barrel estimate.
“In short, there is still enough dry powder to keep prices contained — for now,” Kaneva said.
Meanwhile, the consumer burden has continued to increase. A Brown University tracker measuring pump prices against a no-war baseline puts the extra US fuel burden at $109.1 billion, or $832.48 per household. Gasoline has climbed 48.9% and diesel 74.3% since February.
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Game Changer 5.0 Zagreb, powered by A1, takes place at Zagreb’s Z Centar on Oct. 14. Now in its fifth edition, the conference shifts focus from what AI can do to what businesses will do with it.
That makes this year’s conference relevant far beyond the tech industry. The questions now being asked about artificial intelligence, automation, data, mobility, commerce and human behaviour are no longer niche technology issues. They are business and societal questions.
Who Makes the Final Call: Humans or Machines?
On the AI Transformation stage, Dejan Turk, CEO of A1 Croatia & Slovenia, and Siniša Krajnović, CEO of Ericsson Nikola Tesla, will discuss what a CEO can and cannot delegate to AI, as automation increasingly blurs the line with human responsibility. Josip Ćesić, CEO of Gideon Brothers, will explore AI’s role in reshaping mobility.
Could Humanoid Robots Become Part of Critical Human Situations?
Dr Bruna Gerardi, a robotics expert from Sheffield Hallam University, will join legal experts to discuss the role humanoid robots could play in sensitive, real-world situations, and the questions of responsibility and trust that raises.
From the Internet We Know to Networks That Can Make Decisions
Web3 and next-generation infrastructure will be another major theme, as the central question shifts from who controls the data to who controls the infrastructure behind it.
Speakers include Joško Mrndže, former Google Regional Director, among many others.
What Happens When AI Becomes the Customer?
Few industries are likely to feel the impact of AI as directly as commerce.On the E-commerce / SmartCommerce / AdTech stage, Game Changer 5.0 asks who is the customer when an AI agent makes the purchase. Consumers may increasingly rely on digital agents rather than buying themselves, reshaping the relationship between consumers, retailers and brands.
Nikola Jovanović, Managing Director of Havas, and Kristijan Gregorić, CEO of Valicon, will explore what the Croatian consumer could look like in 2027.
Gamification, Hyperpersonalisation and the Question of Who Shapes Our Behaviour
The Gamify & Hyperpersonalisation stage examines how algorithms already shape what we watch, buy and see next, and what it means to live in an algorithmic world.
Speakers include Andrej Levenski of Gamepires and John Newbigin OBE, a creative-industries adviser and former adviser to the Mayor of London. More speakers will be announced in the run-up to the conference.
Where Are the Next Game Changers Being Built?
The Foundry Club – Investor & Startup Stage will spotlight the next generation of companies, featuring Alexander May of AWS, among others.
Game Changer 5.0 Zagreb is the fifth edition of a conference that began in Zagreb and has since expanded to Slovenia, Italy, Montenegro, Switzerland and the United Kingdom.
On Oct. 14, CEOs, investors, entrepreneurs and technology leaders will come together in Zagreb.
The goal is to ask the questions that matter before the future becomes everyday reality.
More information is available on the official Game Changer 5.0 Zagreb website.
About Game Changer 5.0 Zagreb
Game Changer 5.0 Zagreb is a one-day, five-stage conference on AI, business and technology, held at Zagreb’s Z Centar and powered by A1. Since launching in Zagreb, the event has expanded to Slovenia, Italy, Montenegro, Switzerland and the United Kingdom. More information: www.game-changer.tech
The post Game Changer 5.0 Zagreb: Full Agenda And Speakers Revealed For Oct. 14 appeared first on BeInCrypto.
Binance is extending its derivatives lineup into foreign exchange with the launch of 24/7 perpetual futures, starting with a U.S. dollar–Brazilian real contract. The new product, the USDBRLUSDT perpetual, begins trading on Monday, according to a Binance announcement published Friday.
Unlike traditional FX venues that pause over weekends, Binance says the contract will trade continuously using a dual-mode pricing approach. During standard FX hours, the contract’s pricing will reference a weighted index compiled from third-party data providers, while on weekends and public holidays Binance will switch to an orderbook-based method designed to keep prices aligned with on-exchange supply and demand.
Key takeaways
- Binance will launch 24/7 FX perpetual futures with a US dollar–Brazilian real contract (USDBRLUSDT), starting Monday, with settlement in USDT.
- The contract uses a dual pricing system: an indexed feed during regular FX hours, and an orderbook-based mechanism over weekends and public holidays.
- Binance advertises the weekend pricing method as relying on an exponentially weighted moving average (EWMA) of orderbook prices rather than external price feeds.
- The product offers up to 100x leverage, with continuous trading intended to expand price discovery beyond traditional FX market hours.
- The move follows fast-paced competition in “tradfi-like” perpetuals, including Bybit’s earlier 24/7 FX perpetual rollout and Kraken’s 2025 FX perpetual launch.
24/7 FX trading and Binance’s two-part pricing design
Binance’s new perpetual is built to keep exposure to currency moves accessible even when traditional FX markets are closed. The key differentiator is how the exchange intends to form a reference price when FX markets are active versus when they are not.
During regular FX trading hours, the USDBRLUSDT contract will track a weighted index from third-party data providers. When weekend and holiday sessions arrive—periods when conventional FX trading typically halts—Binance will instead rely on an orderbook-based pricing mechanism.
In its announcement, Binance specifically described the weekend approach as using an exponentially weighted moving average of orderbook prices. The intent is to reduce dependence on external data during periods when liquidity and reference benchmarks can be more fragmented, while still allowing the contract to reflect real-time trading pressure from market participants.
What the contract offers traders
Binance stated that the USDBRLUSDT perpetual futures will go live on Sept. 21 and settle in USDT. The exchange also said the contract offers up to 100x leverage.
Binance trading head Shunyet Jan said the purpose of the 24/7 format is to extend price discovery beyond traditional FX trading hours. In practice, that means traders can hedge or take directional positions on currency movements around the clock, rather than waiting for the next open of the underlying FX market.
The launch also reflects a broader shift in how crypto derivatives platforms package currency risk. By offering perpetual futures that reference FX pairs but settle in stablecoin terms, exchanges aim to give crypto-native traders a way to express views on macro moves without directly holding the underlying currencies.
A crowded push into FX derivatives
Binance’s decision to enter 24/7 FX perpetuals comes amid rapid expansion by other exchanges. The rollout arrives less than two weeks after Bybit introduced 24/7 perpetuals for major currency pairs, including EUR/USD, GBP/USD, and USD/JPY, also settled in USDT and offering up to 100x leverage. As with Binance’s approach, Bybit’s product was positioned as a way to bring continuous trading to markets that normally close.
Earlier in the cycle, Kraken launched FX perpetuals in April 2025. Kraken’s offering tracked multiple currency pairs—euro, British pound, Australian dollar, Japanese yen, and Swiss franc—and also settled in a stablecoin context with up to 50x leverage, according to the exchange’s published materials.
Kraken had already been active in spot FX trading since 2020, and it reported $5.7 billion in FX spot volume in the first part of 2025. That background matters because it suggests some exchanges are not starting from scratch; rather, they are extending existing currency-market infrastructure and user demand into perpetual derivatives.
Why FX exposure is attractive in crypto
The appeal of FX-linked derivatives in crypto is straightforward: currency markets are among the most heavily traded financial arenas globally, and they offer constant drivers—from interest rate differentials to macro news—to which traders want leveraged exposure.
According to a Bank for International Settlements (BIS) report cited in the announcement, global OTC FX turnover averaged $9.6 trillion a day in April 2025. That scale dwarfs many other market categories and underscores why currency risk continues to attract derivatives demand even from outside traditional FX institutions.
For crypto participants, perpetual futures can also simplify access. Instead of navigating FX settlement mechanics or holding non-stablecoin assets, traders can typically gain exposure via margin and leverage while settling in stablecoins. That structure is especially aligned with the 24/7 nature of crypto markets, which often overlap imperfectly with traditional global market hours.
At the same time, Binance’s weekend pricing choice highlights an ongoing challenge for continuous FX trading: reference pricing. When third-party feeds or benchmark-style indices become less representative (or simply unavailable in the same way) during closures, exchanges must decide how to price the contract—either by extrapolating from external data, or by anchoring pricing to internal liquidity signals like the orderbook.
Binance’s described use of an EWMA over orderbook prices suggests it is opting for the second path during weekends and holidays. Investors and traders should watch how that design behaves in practice, particularly during periods of high volatility when the orderbook may reprice quickly, and when liquidity depth changes as traditional FX markets reopen.
What to monitor after the launch
With the USDBRLUSDT contract set to begin trading on Sept. 21, market participants will likely focus on two things: whether weekend/holiday pricing stays stable relative to indexed references once FX markets reopen, and how spreads, liquidity, and execution quality develop as traders learn the new 24/7 product. Those dynamics will determine whether continuous FX perpetuals remain a useful hedge tool—or primarily a speculative venue—once real trading volume builds.
Crypto World
Major Binance Warning: The Exchange Will Briefly Suspend Deposits and Withdrawals Next Week
Binance users should prepare for a temporary interruption to some main services at the start of next week due to scheduled maintenance.
On the bright side, the disruption is expected to last only about an hour, after which all operations should return to normal.
Cause for Concern?
Binance announced it will perform an infrastructure wallet upgrade on September 22 and, to support the process, will temporarily stop deposits and withdrawals. The company said token trading will not be impacted during the maintenance. It also assured that everything will return to normal once the system is deemed stable.
Such endeavors are quite frequent and shouldn’t trigger panic across the community. Earlier this summer, for example, Binance briefly halted deposits and withdrawals on the Bitcoin (BTC) network to perform wallet maintenance.
Before that, it temporarily paused such operations on the Ethereum blockchain; other ecosystems affected by support for certain improvements include Cardano, BNB Chain, Tron, and others.
The outages have lasted from minutes to a few hours, with no reports of major issues or user complaints.
The Previous Updates
Just a few days ago, Binance disclosed that it will remove the following cross-margin pairs: ENJ/USDC, GENIUS/USDC, CVX/USDC, and VANA/USDC, as well as the isolated-margin pair GENIUS/USDC. It also vowed to terminate access to the BREV/USDC, COOKIE/USDC, LA/USDC, and QNT/USDC spot trading pairs. The delistings are scheduled for today (September 18).
The announcement caused little to no volatility for the involved cryptocurrencies. However, when Binance disallows all trading services for certain tokens, it is usually a completely different story. This August, for instance, Across Protocol (ACX), Hashflow (HFT), PIVX (PIVX), Vulcan Forged PYR (PYR), Vanar (VANRY), and Viction (VIC) collapsed by double digits after the exchange waved them goodbye.
On the other hand, backing has the opposite effect. The latest example is PONS, whose price spiked substantially after the company added it to its Binance Alpha section.
Besides its listings and delistings, the company issued a scam alert about phishing attacks targeting crypto investors. It warned that attackers send fake text messages that seem official, such as “Your account settings were changed:” or “Suspicious login detected,” to trick users into clicking malicious links that could result in painful losses.
“Remember: Binance will never ask you to tap a link in a text message to “verify” or “secure” your account,” the alert reads.
The post Major Binance Warning: The Exchange Will Briefly Suspend Deposits and Withdrawals Next Week appeared first on CryptoPotato.
Ciena (CIEN) stock climbed on Thursday after the optical gear maker announced new financial targets at an investor briefing. The company said it expects a compound annual growth rate of approximately 30% from 2026 through 2029 with adjusted gross margin of about 50%. At the investor day on Wednesday, management also said supply constraints are continuing. “Management introduced a long-term…
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