Binance is moving deeper into regulated traditional finance by launching USDT-settled options on gold and silver via its Abu Dhabi exchange platform. The contracts are designed to let traders express a view on commodity price movements without taking physical delivery of the metals.

The new options will be listed through Nest Exchange Limited, a Binance-operated venue under the Abu Dhabi Global Market (ADGM) framework. For market participants, the key change is that exposure will be settled in USDT rather than the underlying commodities—potentially lowering friction for crypto-native traders who already hedge or speculate using stablecoin-denominated instruments.

Key takeaways

• Binance will list USDT-settled gold and silver options through its ADGM-regulated Nest Exchange Limited.
• Options provide commodity exposure without physical delivery of gold or silver.
• Retail users can only buy options, while eligible institutions and liquidity providers can also write (sell) options.
• The launch complements Binance’s earlier gold and silver perpetual futures, introduced in January.
• The rollout adds to a broader push across crypto firms toward regulated commodity-linked products and tokenized bullion.

How Binance’s gold and silver options are structured

According to Binance, the options will be available as USDT-settled contracts, allowing traders to position for changes in gold and silver prices while remaining within a stablecoin settlement model. The exchange says the design avoids the need for holders to physically handle the underlying metals—one reason derivatives often attract both hedgers and speculative users who want exposure without logistics.

Binance also drew a clear distinction between retail access and institutional participation. Retail users will be limited to buying options only. By contrast, eligible institutional users and liquidity providers can write options in addition to buying. The company frames this as a risk-control measure: restricting retail users to buying limits downside risk to the premium paid, while enabling institutional participants to write options can support premium collection strategies.

Regulated expansion: from perpetuals to options

This new offering builds on Binance’s earlier step into commodities derivatives. In January, the exchange introduced gold and silver perpetual futures, and the options launch signals a broader expansion of regulated access to traditional assets through crypto-native trading formats.

The shift matters because options introduce a different toolkit than perpetuals. Perpetual futures primarily support directional exposure and leverage-based strategies, while options can be used to hedge downside, structure spreads, or target volatility and payoff profiles that are harder to replicate with linear instruments. For traders operating in the USDT settlement ecosystem, moving from perpetuals to options may increase the range of risk management approaches available on regulated venues.

Still, the practical impact for most users will depend on how liquidity develops and how tight spreads and market depth look once contracts begin trading. Options markets tend to vary widely in execution quality, and those conditions can influence whether hedging or structured trading is economical for smaller participants.

Commodity-linked products beyond derivatives

Binance’s options are part of a wider trend in crypto markets: product development that ties to commodities while navigating different regulatory and market access pathways.

Alongside derivatives exchanges, companies have also focused on tokenizing physical bullion. Tether and Paxos, for example, have pursued tokenized gold products rather than exchange-traded derivatives. Tether’s XAUt—designed to represent one troy ounce of gold stored in Swiss vaults—has been working to broaden compatibility with financial institutions outside traditional crypto rails.

Recent developments include XAUt receiving Shariah certification from Amanah Advisors, an effort intended to expand adoption within Islamic finance contexts. In addition, ADGM recognized XAUt as an accepted spot commodity, allowing regulated firms to offer services tied to the tokenized gold asset in that jurisdiction.

These moves highlight an industry split in approach: exchange-traded options aim to deliver commodity exposure through contracts and stablecoin settlement, while tokenized bullion products aim to bring physical-backed assets into regulated service models for spot usage.

RWA.xyz has estimated that tokenized commodities now sit at about $4.56 billion in distributed value, with Tether Gold and Paxos Gold accounting for more than 90% of the market. That concentration suggests that, so far, the majority of tokenized commodity activity is centered around a small set of products—something that may affect how quickly new offerings gain traction.

What investors and traders should watch next

Binance’s move into USDT-settled options on gold and silver is likely to appeal to traders looking for more flexible hedging and payoff structures within a regulated framework. However, the real test will be how quickly liquidity builds on Nest Exchange Limited and whether market participants can execute strategies efficiently as volatility conditions change.

As commodity-linked crypto products continue to proliferate—ranging from regulated derivatives to tokenized physical bullion—readers should track not only product launches, but also how regulators define permitted access, how institutions participate through options writing, and whether liquidity and spreads meaningfully improve for end users over time.

On 29 July 2026, Microsoft reported its results for the fourth quarter of fiscal year 2026. Revenue reached $90 billion, up 18% year-on-year, while adjusted earnings per share came in at $4.74, comfortably ahead of analysts’ expectations of $4.24. The company exceeded consensus forecasts for both revenue and its cloud business, reflecting continued strong demand for AI infrastructure. The earnings release came after months of pressure on the stock, driven by investor concerns over the scale of capital expenditure required to expand Microsoft’s cloud and AI capabilities.

Technical Analysis of Microsoft

Since the beginning of June, the MSFT chart has developed a clear short-term downtrend. After peaking near $465, the stock declined sharply along a descending trendline before finding support around $350 on 25 June. An unusually large bullish trading volume was recorded during the rebound from this area.

Since then, the stock has entered a recovery phase and is now trading between the POC (Point of Control) at $389.5 and the upper boundary of the current market profile at $400.5. The $405 resistance level sits just above the profile boundary and could reinforce resistance in this area.

Below the current price, two nearby support levels stand out: the lower boundary of the profile at $373.5 and the support level at $367. The RSI + MAs indicator currently shows readings of 50, 49 and 50, with all three values positioned in the middle of the neutral zone. Such a configuration is typically associated with a period of consolidation before the market develops its next directional move.

Summary

The near-term performance of Microsoft shares is likely to depend more on how investors reassess the company’s recently reported operating results than on the reaction to individual technical levels. For now, the debate surrounding capital expenditure on AI infrastructure remains the dominant fundamental theme shaping market sentiment.

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The pound strengthened following the outcome of the US Federal Reserve meeting, where the central bank, as expected, kept interest rates unchanged. However, the Fed did not provide the market with clear signals of an imminent shift towards rate cuts, maintaining a cautious approach to future monetary policy. Despite the Fed’s cautious tone, the dollar failed to gain fresh momentum, allowing the British currency to partially recover its recent losses.

Market attention is now almost entirely focused on the Bank of England meeting, as its decision is expected to be the main driver for sterling through the end of the week. Investors also do not expect a change in interest rates, but the key factors will be the Monetary Policy Committee’s vote split, the accompanying statement and comments from Bank of England Governor Andrew Bailey. Any signals regarding the timing of potential monetary policy easing could trigger notable volatility in the pound.

For the euro, today will also bring a number of important macroeconomic releases. Markets will focus on preliminary inflation and GDP data from Germany, as well as GDP and inflation figures from Spain. These reports will help investors assess the resilience of the eurozone economy and adjust expectations regarding the European Central Bank’s future actions. Stronger data could support the euro, while weaker figures may reinforce expectations of further ECB policy easing.

GBP/USD

Following yesterday’s Fed meeting, GBP/USD moved towards the 1.3400 area. A rebound from the 1.3270 support level and a sharp daily rally allowed buyers to form a bullish engulfing pattern. Technical analysis of GBP/USD points to the possibility of further gains towards 1.3440–1.3480 if the 1.3270–1.3300 range becomes established as support. A decisive move below yesterday’s low could trigger a renewed decline towards 1.3180–1.3220.

Key events for GBP/USD:

• Today at 14:00 (GMT+3): Bank of England interest rate decision;
• Today at 14:30 (GMT+3): speech by Bank of England Governor Andrew Bailey;
• Today at 15:30 (GMT+3): US initial jobless claims.

EUR/GBP

EUR/GBP is showing signs of recovery after forming a bullish harami pattern on the daily timeframe. If market participants are disappointed by today’s Bank of England decision, the pair could extend its advance towards 0.8600–0.8620. The bullish scenario would be invalidated after a decisive break below the 0.8540–0.8560 support area.

Key events for EUR/GBP:

• Today at 08:30 (GMT+3): France GDP;
• Today at 11:00 (GMT+3): Germany GDP;
• Today at 15:00 (GMT+3): Germany Consumer Price Index (CPI).

Overall, the near-term direction of sterling will depend primarily on the Bank of England’s decision, the Monetary Policy Committee’s vote split and Andrew Bailey’s comments on the future outlook for interest rates. For the euro, inflation and GDP releases from the eurozone’s largest economies will remain important, as they could influence expectations for the European Central Bank’s next policy steps. With the market impact of the Fed meeting now fading, European economic data and signals from the Bank of England could become the main drivers of GBP/USD and EUR/GBP through the end of the week.

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Crypto exchange Luno is reportedly cutting around 20% of its workforce as it restructures operations and shifts more focus toward institutional clients, financial infrastructure, and business-to-business services. The move follows earlier headcount reductions and comes as many crypto firms continue to prioritize cost control and automation amid uneven market conditions.

In a report published by Bloomberg on Tuesday, Luno CEO James Lanigan said the company has invested in automation and other operational improvements, changing the resources required to run the business. He also indicated that further cost trimming will be paired with ongoing investments in compliance, core infrastructure, and retail products. According to the filing discussed in earlier coverage, Luno is owned by Digital Currency Group and operates in Africa and the Asia-Pacific region, serving roughly 16 million users.

Key takeaways

• Luno is reportedly reducing headcount by about 20%, citing automation and operational changes that alter staffing needs.
• The exchange says it will also pursue cost reductions while continuing investment in compliance, core infrastructure, and retail offerings.
• This is not Luno’s first major restructuring; the company previously cut 35% of staff in January 2023.
• July 2026 saw a cluster of disclosed layoffs and restructurings across crypto, with industry tracker CryptoJobsList recording hundreds of roles affected.
• Several firms point to AI and efficiency upgrades as a common factor behind staffing changes, though the scale and drivers vary by company.

Luno’s restructuring and why staffing is changing

Luno’s reported layoffs are framed as an outcome of “run-rate” changes rather than a simple demand shock. Bloomberg reports that CEO James Lanigan attributed the restructuring to investments in automation and broader operational improvements, which in turn reduced the staffing required for core functions. The company also plans to trim costs in line with market conditions, while directing resources toward areas it views as strategic—compliance, core infrastructure, and retail products.

For users and customers, this type of restructuring can translate into slower expansion in some areas, but it can also mean that teams previously handling manual processes are redeployed toward system reliability, risk controls, and institutional service delivery. Luno has previously expanded beyond retail trading into infrastructure and institutional offerings, including providing crypto infrastructure for banks and fintech firms—an angle that typically requires different operational capabilities than consumer exchange experiences.

Importantly, Luno has already gone through a larger round of reductions before. In January 2023, Cointelegraph reported that DCG-affiliated companies laid off more than 500 employees, with Luno cutting 35% of its staff—affecting nearly 330 employees—during a period of turbulence across parts of the technology and crypto sectors.

Automation, AI, and cost controls spreading across the sector

Luno’s stated rationale echoes a pattern other crypto companies have cited in recent months: automation, AI, and efficiency improvements are often presented as reasons to reduce staffing. While the details differ by firm—ranging from internal process upgrades to product and platform changes—the theme is consistent: companies are trying to maintain or improve service levels while reducing operating costs.

One reason this matters for the industry is that layoffs can reshape what businesses prioritize. Where consumer-focused teams previously led growth efforts, many companies now appear to be redirecting investment toward infrastructure, compliance, and enterprise-grade services—areas where budgets can be more predictable and where automation may reduce operational friction.

What July’s layoff data suggests (and what it can’t tell)

Beyond Luno, the broader wave of job cuts continues to show up in public trackers. CryptoJobsList, which monitors crypto and crypto-adjacent workforce reductions, recorded layoffs or restructurings at 12 crypto and crypto-adjacent companies in July. Disclosed figures totaled 894 jobs affected, according to the tracker’s reporting.

CryptoJobsList’s data is meant to be an indicator of sector activity rather than a complete measure of all crypto-related cuts. The tracker notes that its figures include adjacent financial technology firms, and they are also skewed by unusually large reductions such as Block’s reported 4,000-person layoff in February.

Still, the concentration of announcements in a short period gives investors and builders a practical signal: staffing is being reassessed across multiple segments of the crypto ecosystem, and companies appear to be acting faster than in downturn cycles when cost reductions sometimes lag demand shifts.

Other notable restructurings in July

Earlier in July, Cointelegraph reported that crypto wallet company Exodus announced plans to cut 25% of its staff while reorganizing around a full-stack card-issuance and stablecoin-payments platform. Exodus said the changes could produce between $10 million and $13 million in annual operating savings, positioning the restructuring as an effort to concentrate resources on a specific product direction.

Separately, blockchain infrastructure developer Gnosis took a different approach to workforce reductions. In July, the company invited organizations hiring across roles including engineering, product, design, marketing, developer relations, and customer relations to contact it for introductions to former employees affected by a recent restructuring. In a statement dated July 17, Gnosis said it reduced its workforce following a review of its consumer-facing Gnosis App.

These examples show how restructuring rationales can vary: some companies cite platform efficiency and automation, while others tie changes to product review cycles or a strategic pivot. For employees, the practical impact differs as well—some reorganizations focus on relocating talent, while others involve more direct role elimination.

What to watch next

With Luno’s reported cut and a continuing pattern of restructurings recorded across the sector, the next question for readers is whether these moves translate into measurable improvements—such as higher reliability, faster enterprise onboarding, or more consistent compliance execution—or whether they mainly reduce capacity at the cost of long-term growth. Investors and builders should keep an eye on how companies balance automation-driven efficiency with the operational load required by regulators, institutional clients, and evolving product demands.