NYSE owner, Druckenmiller back deal to bring Hyperliquid perps to US
The billionaire's first-ever X post was about Hyperliquid.
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Bitcoin weathered a rough day for stocks, but Hyperliquid ran the show.
New partnerships and funding are accelerating the push into perpetual futures and multi-asset trading.
Meanwhile, HTX is exiting the UK under a regulatory settlement.
Crypto continues to hold up better than usual, though it remains far from a safe haven.
Here is your daily market breakdown.
NYSE parent ICE teams with Hyperliquid-linked Trade.xyz to bring perpetual futures to US markets
ICE, the company behind the New York Stock Exchange, is reportedly building a 24/7 perp futures venue.
The platform would run on Hyperliquid infrastructure through a partnership with Trade.xyz.
Neither side has officially confirmed the deal, so treat this one with caution.
A regulated perp futures market on DeFi rails would be a first for US finance.
Markets
Bitcoin reclaims $81K as stocks tumble and Treasury yields retreat
Core PCE inflation came in at 3.1%, topping forecasts and keeping the Fed on edge.
Yet stocks cratered, with Google down 12% and the Nasdaq sliding 1.5%.
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Bitcoin caught a bid as some capital rotated out of equities and into crypto.
BTC recovered near $81K, ETH traded above $2,300, and SOL held above $101.
Kalshi raises $1B at $40B valuation to take on crypto and stock perp futures
Prediction market darling Kalshi just locked in a $1B raise led by Sequoia Capital.
The $40B valuation makes it one of the richest private fintech firms on the planet.
Kalshi plans to use the war chest for crypto derivatives and stock perpetual futures.
If it succeeds, every traditional exchange will need a new playbook.
FCA settles lawsuit with HTX as crypto exchange exits the UK
Britain's Financial Conduct Authority sued HTX last October over unauthorized crypto promotions.
The two sides reached a settlement that requires HTX to leave the UK market entirely.
It's a clear warning to any exchange marketing crypto services in the UK without proper registration.
On Our Radar
Game on, wallet out: Crypto and online gaming are having their awkward first date in the mainstream.*
Crypto's cold war: KuCoin is pulling out of Russia and Belarus effective immediately.
Blockchain bling: London Metal Exchange explores tokenizing metals stored in Hong Kong for better financing access.
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That’s your briefing. Catch you next time.
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