Crypto World
What is 'Scromiting'? ER Doctors Are Seeing it More
Recreational cannabis use is now legal in 24 U.S. states. After Illinois legalized it, in 2020, James Swartz started to keep an eye out for any changes in public health that might stem from more widespread marijuana use. A professor of social work at the University of Chicago, he still remembers when he and his colleagues learned about the rise of a distressing condition that seemed linked to chronic marijuana usage. “We started seeing more and more clinical reports and case studies in the literature about this syndrome,” he says. “So we were curious: Is that happening here?”
They found that indeed, cannabinoid hyperemesis syndrome (CHS)—which can include a symptom colloquially called “scromiting,” a portmanteau of “screaming” and “vomiting”—seemed to be on the rise in emergency departments nationwide. In 2025, the condition even got its own ICD 10 code, allowing doctors to enter it more specifically into medical records. The condition is still poorly understood, and recently, physicians publishing in JAMA wrote a primer on the disorder.
What is cannabinoid hyperemesis syndrome (CHS)?
An important backdrop to the rise of CHS is a condition called cyclic vomiting syndrome, or CVS, says Dr. Thangam Venkatesan, a professor at the Ohio State University who is an expert on CVS and an author of the new paper. “It has episodes of nausea, vomiting, belly pain, headache, and this affects both children and adults,” she says. During episodes, people vomit or retch four or five times an hour, and episodes can last several days, before abating for weeks or months. Understanding and avoiding triggers is key to treating the disorder.
CHS was first described in 2004 in Australia, when doctors carefully followed patients with cyclical vomiting who were habitual cannabis users. It presents similarly to CVS and usually occurs after people have been using marijuana for some time, sometimes as a treatment for other disorders, and involves abdominal pain and vomiting that recedes after people stop cannabis use. The pain can be so intense for some people that they may scream while they vomit. (About the “scromiting” label: Venkatesan doesn’t use it and calls it “a fairly derogatory term.”)
During episodes, people can seek relief by taking very hot baths and showers, though it’s not clear why this helps, says Venkatesan—nor is this coping method unique to CHS. “Close to half the patients with cyclic vomiting who have never used cannabis also exhibit the hot shower bathing behavior,” she says. “This is very peculiar.”
Why is cannabinoid hyperemesis syndrome on the rise?
It’s possible that some of the increase in documented cases comes from more ER doctors recognizing what they’re seeing as a cohesive syndrome, says Venkatesan. But the rise seems to coincide with a sharp increase in the potency of the forms of cannabis now available and an increase in cannabis use generally. Concentrations of THC, the primary psychoactive compound in marijauna, used to be around 1-3% in dried plants, and now they may be higher than 15%—and as high as 95%.
“It’s a completely different product, even in medical dispensaries,” than before legalization, Venkatesan says. She notes that people may not be aware of the potential for syndromes like CHS when they start using cannabis, and the picture is complicated by the fact that many heavy users do not experience these symptoms, she says.
What should people know about cannabinoid hyperemesis syndrome?
Although most people with CHS tend to be young adults, there are patients of all ages. The main risk factors are prolonged use of cannabis with high concentrations of THC.
“You really increase your chances of this with frequent use of high-potency products for an extended period of time,” says Swartz. “So I would say, be careful of the products that you’re using, be mindful of the potency and the frequency with which you’re using. It’s not a fun condition to have.”
The rise of legalized cannabis has also been accompanied by an increase in schizophrenia cases, research has found; one study in Ontario found that cases associated with cannabis-use disorder nearly tripled in recent years. Even before legalization, there was a known link between psychosis and prior cannabis use in young people, suggesting that in some, there may be a genetic predisposition to schizophrenia that is exacerbated by cannabis. Daily use of high-potency cannabis is associated with a nearly five-fold increase in schizophrenia risk, another study found.
Do people with CHS also have psychiatric conditions? Studies found that mental-health conditions and CHS do tend to co-occur, says Swartz. But whether that’s because people are self-medicating with cannabis and thus predisposing themselves to CHS, or whether CHS and mental-health conditions occur together for other reasons isn’t clear.
Quitting cannabis isn’t always an easy process, Swartz says, even with a motivation as strong as resolving CHS. “It’s more complicated than, ‘Hey, just stop,’” he says. “The question is: ‘Why are you using?’ And let’s think of some other way you can address that, other than cannabis.”
Analyst Ali Martinez says the $15 Dogecoin target he has been tracking since the token’s early days is dead, now that DOGE has broken below the long-term rising channel the whole thesis was built on.
The call undoes months of bullish setups other analysts pointed to through August, from whale accumulation to a technical buy signal that had suggested a rally back toward that same structure.
The Channel That Defined the $15 Case Just Broke
The channel in question is a rising parallel one that Martinez says has defined Dogecoin’s price action since inception. Every time the price touched its lower boundary, it marked what he calls a generational buying opportunity, pointing to gains of 9,221% in 2017 and 30,694% in 2020.
When DOGE returned to that support in February 2026, the setup pointed to the possibility of another historic run, with $15 as the projected target. Now that DOGE has broken below the boundary, Martinez says the move has removed “the technical foundation behind the $15 thesis.”
The OG meme coin was trading around $0.0806 at the time of writing, down about 6.6% for the week and 3% on the day, sitting just below the $0.0813 level several analysts had flagged earlier this month as the line to hold.
Against Bitcoin, the token is almost flat, down about half a percent, so this isn’t a case of DOGE lagging some broader market pullback so much as losing a level tied to its own chart. It also remains 89% below its all-time high of $0.7316, set in May 2021.
How the Bullish Case Built Up Through August
The bullish case has been building for weeks. On August 15, Martinez pointed to a monthly TD Sequential buy signal alongside an inverted hammer and a developing doji candle, a combination he compared to a setup from August 2022 that preceded a 145% monthly rally.
He also flagged whale wallets adding more than 430 million DOGE that week. As CryptoPotato reported, the meme coin had slumped below $0.07 days earlier, its lowest level in almost three years, with active addresses climbing from 38,000 in July to 44,000, and other analysts, including Crypto Patel, marking the $0.07 to $0.10 range as a long-term accumulation zone.
By late August, DOGE had rallied 30% in a week to near $0.09, clearing that $0.0813 level the market was watching. More aggressive traders went further still, with MikybullCrypto calling for $3 and Vuori Trading predicting $10, a target that would require Dogecoin’s market cap to top $1.5 trillion.
That rally has since faded, with DOGE back under the same resistance it broke through weeks earlier.
The post Analyst Says $15 Dogecoin Target Is Dead After Long-Term Channel Break appeared first on CryptoPotato.
Many, many genes—more than were identified in this study—are probably involved, influencing a variety of pathways in the brain, Nivard says. “That must be the case, given how diffuse we find those genetic effects to be.”
“It’s a wonderful paper,” says Tena Vukasović Hlupić, a psychologist at the University of Zagreb who was not an author on the new study. “It’s finally empirical evidence that there is not one gene for whatever personality trait.”
What’s next for genetics and personality research?
Understanding the genetic variants playing into each trait may help psychologists and neuroscientists further explore the basic neurobiology of personality. “There’s this endless debate on whether our body and our experiences shape our personality, or whether personality shapes our experience. I’m super excited to go and use these results to dig into those kinds of questions,” says Nivard.
This information also raises the possibility of using such variants as a way to screen for problems down the road, says Hlupić. The variants themselves are only a small part of what might give people a predisposition to a certain mental-health condition, for instance, but if they can be used as an indicator of risk, and early interventions can help, they might be useful tools beyond basic research.
The U.S. military said it struck air defense sites, radar systems, maritime assets and facilities, mine laying capabilities, and communications sites linked to the Islamic Revolutionary Guard Corps (IRGC).
Iran’s Foreign Ministry on Wednesday released a statement insisting the U.S. had attacked civilian areas and service infrastructure in the provinces of Khuzestan, Sistan and Baluchestan, Hormozgan, and Kerman. It said a wedding ceremony in Kuhestak, Sirik County, had been struck, resulting in fatalities and injuries.
In a statement to TIME, CENTCOM spokesperson Navy Captain Tim Hawkins said: “We are aware of reports, which originated from Iranian state media. The U.S. military never targets civilians, unlike the IRGC.”
The IRGC said it had launched retaliatory strikes on U.S. bases in Jordan, Kuwait, and Bahrain, alongside an additional U.S. facility in Iraq, overnight Tuesday.
The renewed hostilities and threats come after a roughly month-long pause in active hostilities between the two countries. On Sunday, the U.S. military struck two Iranian launchers on Larak Island it said were preparing to fire rockets carrying naval mines into the Strait.
August has been the best month for the second-largest cryptocurrency so far this year, and now bulls have set their attention on September, expecting additional gains in the next four weeks.
Check out what suggests that a further green wave could indeed be in the cards.
The Positive Factors
As of this writing, ETH trades at around $2,380 (per CoinGecko), representing a 28% monthly pump. Its strong performance comes on the back of a broader market resurgence witnessed during the second half of August. Recall that BTC briefly jumped past $81,000; one can explore the exact catalysts in our detailed article here.
For its part, ETH temporarily climbed above $2,550, while growing institutional demand suggests the local peak may be surpassed this month. SoSoValue’s data shows that spot ETH ETFs have closed 12 consecutive green days, attracting over $1.5 billion in capital within that period. The last time the funds recorded such a sustained run was in July 2025.
Next on the list is the amount of ETH stored on cryptocurrency exchanges. Just a few days ago, the figure dropped to around 14.9 million coins, the lowest since the summer of 2016. Currently, it stands at around 14.99 million, which is quite close to the depicted bottom. Such a development signals that investors have abandoned centralized platforms in favor of self-custody, thereby reducing immediate selling pressure.
Last but not least, we will outline the whale activity. X user CW claimed that large investors have continued accumulating in the current price range, while Arkham recently revealed that some mysterious market participants have bought more than $100 million in ETH.
Speaking of whales, one should observe BitMine’s actions. The company scooped up an additional 53,501 ETH over the past week, increasing its total stash to 5,901,112 coins, or very close to its goal of owning 5% of the entire Ethereum supply. What’s more interesting is that this was the 65th consecutive week in which BitMine acquired ETH.
Something for the Bears
Contrary to the aforementioned bullish signals, the seasonal character of Ethereum hints that bears may regain control in the following weeks.
September is traditionally a weak period for the cryptocurrency, with its price ending in the red 7 out of 11 times. What makes the current setup even more concerning is that August finished positive, and throughout the asset’s entire historical record, there hasn’t been a year in which both August and September closed with gains. We have yet to see whether 2026 will finally break the negative trend.
Separately, if you want to know about the market state, the recent Iran-US tension, and other hot crypto news, please check our video below.
The post 3 Reasons Why September Could Be Bullish for Ethereum (ETH) appeared first on CryptoPotato.
After multiple appeals courts ruled differently about whether states can crack down on prediction markets’ sports products, New Jersey asked SCOTUS to step in.
OpenSea has added Solana NFT trading to OS2, giving users access to collections such as Mad Lads and Claynosaurz through its multichain marketplace.
Summary
- OpenSea now allows users to browse, buy, sell, and bid on supported Solana NFT collections.
- The Aug. 31 release extends OS2’s existing Solana services beyond fungible-token trading.
- Mad Lads, Claynosaurz, Collector Crypt, and Phygitals were available during the initial rollout.
- OS2 now competes more directly with Solana-focused marketplaces such as Magic Eden and Tensor.
OpenSea brings Solana NFT trading to OS2
OpenSea said in an Aug. 31 announcement that collectors can now browse, purchase, sell, and place bids on supported Solana NFTs through OS2. The launch includes Mad Lads, Claynosaurz, Collector Crypt, and Phygitals, among other collections built on the network.
Within the same interface, collectors can manage Solana NFTs without changing wallets or visiting a separate marketplace, according to the company. Creators using Solana can also list their work for OpenSea users who may already trade assets issued on other blockchains.
Solana token trading was already available through OS2 before the latest release. Adding NFT functions fills a gap in the platform’s support for the network, as users can now trade both fungible and non-fungible Solana assets through one account.
Released publicly in May 2025 after a testing period, OS2 initially offered token trading across 19 chains. The rebuilt platform also introduced cross-chain features, marketplace aggregation and support for tokens alongside the NFT products associated with OpenSea’s original business.
By Aug. 27, OpenSea said its market data covered more than 25 networks. Four days before the Solana NFT announcement, the company connected its market data to Perplexity Computer, allowing the AI service to answer questions about tokens, collectibles and onchain trading activity.
OpenSea co-founder and CEO Devin Finzer described the data used by AI agents as “open, live, and verifiable” when announcing the Perplexity integration. The service can identify heavily traded assets and collections by drawing from current OpenSea activity rather than relying only on token price feeds.
Solana support adds competition for NFT marketplaces
For Solana collectors, OpenSea’s release adds another place to trade collections that have largely depended on marketplaces with an established presence on the network. Magic Eden began as a Solana-focused platform before adding support for other ecosystems, while Tensor has built products around professional Solana NFT traders.
OpenSea’s entry creates more overlap among the marketplaces, though the company did not provide trading-volume targets, user projections or market-share estimates for its Solana product. Its announcement focused on access to collections and the ability to use existing wallets across supported networks.
The release also restores a service that OpenSea had tested several years earlier. In April 2022, the marketplace introduced Solana NFT support in beta, making Solana its first supported non-Ethereum Virtual Machine network. The new OS2 implementation brings Solana collections back into the platform more than four years after that initial test.
Competition now extends beyond individual NFT listings because the largest marketplaces have added networks, wallets, and token products to retain users. OpenSea has followed that model through OS2, combining its NFT marketplace with fungible-token trading and products that can pull liquidity from several chains.
Its July 2025 acquisition of Rally Wallet added a mobile-first wallet business focused on NFTs and tokens. OpenSea planned to place Rally’s technology within its product range, while Rally co-founder Chris Maddern joined the company as chief technology officer.
OS2 had launched two months before the Rally transaction with real-time liquidity aggregation and cross-chain functions. The wallet purchase gave OpenSea another route to develop mobile trading without separating token activity from NFT portfolio management.
OpenSea continues adding products beyond NFTs
While restoring Solana NFT trading, OpenSea has continued developing services outside its original collectibles market. In June, product executive Zack Brenner asked users about early access to perpetual futures and later indicated that Hyperliquid could supply the infrastructure.
The planned perpetual futures product would place OpenSea closer to crypto platforms that combine spot tokens, derivatives, and rewards. However, the company had not announced a release date or provided final product terms at the time of the report.
Product releases have moved ahead while OpenSea’s SEA token remains delayed. The company introduced SEA in February 2025 and initially expected to release it around March 30, 2026, with proposed uses including governance, reduced trading fees and staking linked to NFT collections.
In March, Finzer postponed the SEA launch and cited difficult market conditions. OpenSea did not provide a replacement date, while users who joined parts of its Waves rewards campaign received an option to recover certain platform fees by giving up associated Treasure Chest rewards.
The token was intended to support OpenSea’s plan for an application covering NFTs, fungible assets and other forms of crypto trading. Solana NFT support advances the product side of that plan without changing the unresolved schedule for SEA.
US regulatory questions remain relevant to OpenSea
For US users, access to Solana NFTs comes after the Securities and Exchange Commission ended an investigation into OpenSea without filing charges. The agency had issued a Wells notice in August 2024, indicating that its staff could recommend enforcement action based on the view that some NFTs traded through the marketplace might qualify as securities.
OpenSea said in February 2025 that the SEC had closed the investigation. Finzer called the decision a victory for NFT creators and argued that treating NFTs as securities would misinterpret existing law.
No enforcement case followed the Wells notice, but the closure did not create a general exemption for every NFT or marketplace operating in the United States. The legal status of an individual digital collectible can still depend on how it is issued, marketed, and sold under US securities law.
In April 2025, crypto.news previously reported that OpenSea had asked the SEC to clarify that NFT marketplaces should not be treated as securities exchanges or brokers. The company’s legal team argued that platforms such as OpenSea do not execute transactions, hold customer assets, or act as intermediaries in the same way as traditional securities firms.
Robinhood built a chain for tokenized stocks. Meme coin traders took it over, and a launchpad called Pons says it has cleared $4.54 billion in volume in under 2 months.
Pons now runs most token launches on the network. Its own token reached a record high on September 1 and leads the chain by market value.
How Pons Took Over Robinhood Chain Launches
The $4.54 billion figure came from Pons’ post on X. The launchpad handled $370.2 million in volume on September 1, according to a Dune dashboard. Launchpads on the network processed $623.1 million combined that day.
That gave Pons 59% of all launch activity on the chain. Rival platform long.xyz placed second with $151.4 million. The lead is not new.
Pons overtook Noxa in mid-July and has held the largest share of daily launchpad volume nearly every day since. Only pools. trade has briefly passed it, in early August.
Token creation is more concentrated still. Launchpads minted 27,802 tokens on August 31, and Pons produced 17,909 of them. The platform counted 106,488 active wallets on September 1.
Fee generation has followed. Bubblemaps put Pons at $4.73 million in fees over 24 hours, citing DefiLlama. That total beat Hyperliquid, Polymarket, and Fomo combined, which reached $4.65 million.
It also topped the combined network fees of Robinhood Chain, BNB Smart Chain, and Solana at $3.46 million. Bubblemaps counted only base network fees for the chains.
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PONS Token Sets Record High
The volume story has a price story attached. PONS traded at $0.42436 early Wednesday, down 9.82% on the day. Its market capitalization stands at $301.9 million, ranking it 134th.
The token reached a record $0.49328 on September 1. It has gained 1,297.8% over the past month.
Dune data ranks PONS above AI and Cash Cat (CASHCAT) by market value. The token’s lead extends beyond that. PONS was also the most traded asset on the chain over the past 24 hours.
PONS drew $62.46 million in volume over 24 hours across 110,827 trades and 9,063 unique wallets.
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The post Pons Earned More Fees in 24 Hours Than Hyperliquid, Polymarket, and Fomo Combined appeared first on BeInCrypto.
Bitcoin slipped lower in early Wednesday European trading, posting local lows near $76,400 before recovering to around $77,000, according to CoinGecko. The retreat came as broader risk assets weakened in Asia and as the US fixed-income backdrop remained fragile.
CryptoQuant data suggests the selloff wasn’t solely a momentum move—Bitcoin’s “apparent demand” indicator turned negative again following outflows from US spot Bitcoin exchange-traded funds (ETFs) reported the day prior.
Key takeaways
- Bitcoin sold off to roughly $76,400 before reclaiming the $77,000 area, but remains capped by a previously reported resistance cluster.
- According to CryptoQuant, Bitcoin’s apparent demand has flipped negative again after a short improvement during the August rally.
- US spot Bitcoin ETF flows showed $236 million in net outflows the previous day, aligning with the softer on-chain demand read.
- A sharp drop in USD/JPY to about 158.5 reignited speculation about another yen intervention, with no official confirmation at the time of writing.
- Asian equities fell broadly—South Korea’s KOSPI -4.0% and Japan’s Nikkei 225 -2.9%—with tech and chip names among the biggest drags.
CryptoQuant: apparent demand turns negative again
The latest leg down in BTC followed US spot Bitcoin ETF outflows of $236 million reported for the prior day. In parallel, CryptoQuant data indicates Bitcoin’s apparent demand measure has moved back into negative territory after a brief reprieve during the August rally.
The “apparent demand” concept is designed to infer whether market participants are actively absorbing newly created supply and previously dormant coins. It draws inspiration from commodity-market-style issuance versus inventory changes and attempts to capture the gap between newly mined issuance and changes in inactive supply.
In this framework, positive readings are generally interpreted as older coins waking up and the market absorbing both existing supply and new issuance—often viewed as a sign of active spot demand. Negative readings imply that coins are aging into dormancy faster than miners are creating new ones, which is typically treated as weaker spot demand conditions.
While BTC had regained the $77,000 level by the time of writing, it was still described as pinned under a nearby resistance cluster that Cointelegraph previously highlighted. The immediate question for traders is whether the bounce can break through that overhead supply or whether renewed negative demand readings will keep BTC confined.
Macro pressure: yields, USD/JPY, and possible yen intervention
Outside crypto, a broader risk-off mood was building. Earlier in the week, Cointelegraph reported on a global bond selloff that was weighing on markets; on Wednesday, the pressure appeared to ease slightly as the US 10-year yield briefly dipped below 4.8%.
However, FX markets added another layer of uncertainty. Commentators pointed to “inorganic” price movement in the USD/JPY pair around 13:00 UTC, interpreting it as a possible sign of another central bank action. USD/JPY fell to about 158.5, pulling away from the psychologically important 160 level that market participants widely expect the Bank of Japan (BOJ) to defend. At the time of writing, no official statement had confirmed whether intervention occurred.
This matters for crypto indirectly: rapid shifts in USD/JPY often reflect changing expectations for global liquidity and interest-rate differentials—conditions that can influence both risk appetite and the availability of capital for higher-beta assets like cryptocurrencies.
Asian equities slide, tech and chips lead the losses
Equities in Asia traded sharply lower, with multiple factors likely contributing, including rising oil prices and renewed profit-taking in parts of the AI complex. South Korea’s KOSPI led the decline, dropping 4.0% to close at 6,562.72. Among the largest detractors were chipmakers SK Hynix and Samsung Electronics, which fell about 4% and 4.7%, respectively.
Japan’s Nikkei 225 slid 2.9% to 64,325.64, with technology heavyweights contributing to the weakness. SoftBank Group—which has been an investor in OpenAI—was among the names weighed by the broader risk-off tape. The Taiwan index also declined, with the TAIEX down roughly 1.7%.
Earlier coverage from Cointelegraph had already raised concerns about the US side of the AI trade, including signs that credit stress was building via rising credit spreads for hyperscalers. While Wednesday’s equity weakness wasn’t explicitly attributed to any single catalyst in the source, the connection to credit sensitivity is a key reason investors often watch these developments alongside crypto—because a broad deleveraging cycle tends to pressure leveraged positions across markets.
What to watch next: demand signals and the macro backdrop
Bitcoin’s near-term direction may hinge on whether apparent demand continues to recover from the negative reading highlighted by CryptoQuant, or whether the market slips back into a pattern of dormant-supply growth. At the same time, watch USD/JPY for clearer confirmation around intervention expectations and monitor whether US yields stabilize—both can quickly change risk sentiment across crypto and traditional markets.
Commerce Secretary Howard Lutnick said the Trump administration now trusts Anthropic. His words end months of conflict with the maker of Claude. The artificial intelligence (AI) firm could go public soon.
Lutnick spoke to Axios on Tuesday. A day later, he shared a stage with Anthropic co-founder Tom Brown. The venue was a G20 technology meeting in North Carolina.
What Ended the Anthropic Feud With Washington
Asked in an interview whether he trusts Anthropic CEO Dario Amodei, Lutnick did not hedge.
“They’ve done what we asked. They’re back on the right side. So the answer is: Yes.”
The fight was real, seeing as in June, Commerce demanded licenses for foreign users of Anthropic’s strongest models. The company pulled Claude Fable 5 and Mythos 5 for everyone instead.
Regulators lifted the export restrictions on June 30. Access returned the next day. Weeks earlier, Trump had called Anthropic a threat to national security.
The courts moved too, and on August 28, US District Judge Rita Lin voided the Pentagon’s supply-chain risk label, calling the measures illegal and baseless. A second Pentagon designation is still live in the D.C. Circuit.
The Numbers Behind the Political Risk
Court filings show what the feud threatened. Chief Financial Officer Krishna Rao said the Pentagon label could cut 2026 revenue by multiple billions of dollars.
Public sector head Thiyagu Ramasamy put more than $150 million of recurring revenue at immediate risk. He projected public sector revenue above $500 million for 2026.
Anthropic’s revenue run rate reached $65 billion in August, Bloomberg reported. Government work is therefore worth well under 1% of the total.
So the damage was never mainly financial. It was the story. No company can sell itself as core infrastructure while Washington can switch it off.
“One question is in what ways besides supply chain risk the Trump admin could try to undermine Anthropic if this feud continues Some possibilities: Interfering with mergers, an IPO, other securities law stuff Denying federal permits for data centers,” one user said in February.
Anthropic filed confidentially in June. BeInCrypto reported in August that it could list as soon as late September or early October. Backers told the Financial Times they expect $2 trillion or more, though executives have fixed no target.
SpaceX set the bar in June with an $85.7 billion raise. Anthropic wants to beat that record haul.
Lutnick has cleared the political overhang. Investors must still decide whether Claude is worth double the $965 billion it fetched in May.
The post Anthropic Finally Repairs Trump Administration Ties as IPO Spotlight Grows appeared first on BeInCrypto.
Ondo Finance is urging US regulators to bring perpetual futures tied to individual stocks onshore, arguing that the products can already operate under the country’s existing security futures framework without new rules.
In three Aug. 24 comment letters to the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), Ondo argued that existing rules can accommodate perpetual stock futures while also accounting for modern margining practices and onchain market data.
Ondo said its Panama-based affiliate already offers stablecoin-settled perpetual futures on individual US-listed stocks outside the United States, with the platform recording $8 billion in cumulative trading volume as of Aug. 14, around six weeks after its launch.
Ondo ranks fourth among tokenized RWA managers by distributed value. Source: RWA.xyz
The company argued that scheduled funding payments can keep perpetual contracts aligned with the price of their underlying stocks, performing a similar function to expiration in traditional futures.
“Nothing in the statutory definition of a security futures product requires a fixed expiration date,” Ondo said in its product-classification letter.
Ondo also noted that many of the stocks underlying offshore perpetuals are principally traded on US exchanges. “Bringing that activity back to the U.S. should not be an open question; it’s something both agencies should actively pursue,” the company said.
Ondo is among the largest managers of tokenized real-world assets, ranking fourth with about $2.6 billion in distributed value as of Wednesday, according to RWA.xyz data.
Related: Ondo shifts from layer-1 blockchain plan to offchain execution network
US regulators look to modernize market rules
Ondo’s proposal comes as US regulators reconsider how existing market rules apply to onchain products, including perpetual futures and tokenized securities.
President Donald Trump said in August that CFTC Chair Michael Selig was working to bring Hyperliquid into the United States in a “fully compliant and legal fashion.” Hyperliquid is best known for its onchain perpetual futures market, though neither the CFTC nor Hyperliquid has publicly detailed how US access would work.
HYPE, the native token of Hyperliquid, jumped more than 20% following Trump’s comments and has gained nearly 49% over the past month to trade around $81 on Wednesday, according to CoinGecko data.
HYPE has gained nearly 49% over the past month. Source: CoinGecko
The SEC, which oversees securities markets, and the CFTC, which regulates US derivatives markets, have also stepped up coordination this year, signing a memorandum of understanding in March to harmonize oversight in areas where their jurisdictions overlap.
On Tuesday, the SEC proposed overhauling its decades-old transfer agent framework, citing growing demand for blockchain-native recordkeeping and tokenized securities in US markets as the agency reexamines rules built for older market infrastructure.
Magazine: BTC will hit $1M by 2030… but Arthur Hayes is buying ETH instead
Burnham and Majority of Britons agree with Burnham that Brexit was ‘wrong turn’ for UK
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