SEC Drops Crypto Guidance, Coinbase Wins CFTC Clearinghouse, Goldman's $100B Fund Enters DeFi…

SPEAKER_1 (0:00)

Welcome to Stock Market Today, your market briefing with actionable insights on stocks, bonds, crypto and the events moving markets. Let's get into it. Bitcoin is holding $84,000 as massive regulatory and infrastructure shifts set the stage for institutional capital flows. The SEC issued updated staff guidance clarifying when crypto activities don't qualify as securities under the Howey test. Token issuers can conduct buyback programs if the network is functional with no central party. Staking receipt tokens won't always classify as securities. The guidance has no legal force, but signals coordination with the CFTC.

Coinbase secured CFTC approval for its derivatives clearinghouse, completing end-to-end regulated futures infrastructure. The clearinghouse can clear fully collateralized futures, options and swaps with native USDC settlement 24-7. This pairs with Coinbase's existing futures broker and exchange to offer Bitcoin, Ether, commodity and equity index futures.

Goldman Sachs is integrating its flagship $100 billion Treasury fund into Lynq, an institutional settlement network on a private avalanche blockchain.

Unlike tokenized products from BlackRock or Franklin Templeton, this keeps the fund traditional while using Lynq as a distribution channel. Over 30 institutional clients and $89 million in assets now sit on the platform. blockchain.com filed confidentially for an IPO targeting $500 million at $4-6 billion valuation by year end. That's down from $14 billion at the prior peak. Crypto IPO conditions remain brutal, with Gemini, Bitgo and Atoro down 50-80% from post-listing highs. The restaking sector collapsed. Ether.Fi is exiting restaking entirely by end of Q3. The five largest liquid restaking protocols made just $953,000 in combined gross profit in Q2.

Restaking holds $10 billion, but generated only $99,000 in fees last week versus $27 million for regular liquid staking. Key levels. Bitcoin support at $82,500. Resistance at $85,700.

Wednesday brings PCE inflation data. Friday delivers payrolls. That wraps your market intel. Trade smart out there. For deeper insights and real-time analysis, visit capitalcopilot.io.