isc

Mike Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), published an article clarifying four major misconceptions about perpetual futures contracts.Regarding the misconception of "fixed expiration date": There is a viewpoint that the defined "futures contract" requires a fixed expiration date or delivery date, and the indefinite nature of perpetual contracts is inconsistent with congressional intent. Selig clarified that neither the Commodity Exchange Act nor CFTC regulations provide a clear definition of the term "futures contract," nor do they require a fixed expiration date or delivery date. Since Congress did not define the term, the criteria for its determination are provided by case law and committee interpretation, both of which do not require a fixed expiration date.Regarding the misconception of "high leverage": There is a viewpoint that the CFTC approved a futures contract allowing Americans to use leverage of up to 250 times when approving the BTCPERP contract, violating its own rules. Selig clarified that extreme leverage has been a characteristic of trading perpetual contracts in offshore venues since their inception, and is not inherent to the contract structure itself. The perpetual contracts regulated by the CFTC are subject to the same leverage limits as other futures contracts regulated by the CFTC.Regarding the misconception of "public opinion": There is a viewpoint that the CFTC did not provide the industry with an opportunity to participate or express opinions. Selig clarified that the CFTC released a request for comments on "perpetual contracts" and "24/7 trading" in April 2025, soliciting public input, and received over 100 comments from a wide range of stakeholders, including many registered entities regulated by the CFTC.Regarding the misconception of "funding rates": There is a viewpoint that the funding rate mechanism imposes unique and prohibitively high costs on market participants, fostering bad behavior in the market. Selig clarified that after considering the costs associated with opening positions and rolling over contracts with expiration dates, the annualized cost of holding futures contracts with expiration dates is roughly equivalent to that of perpetual contracts. The funding rate mechanism is far from fostering bad behavior; rather, it is a constraint tool that keeps the contract linked to the underlying spot market.

The Japanese cryptocurrency exchange Bitbank today issued a risk warning to users regarding the use of prediction market services such as Polymarket.The announcement pointed out that prediction platforms that trade on future events, elections, or sports results using cryptocurrency assets are mostly operated by overseas institutions. If users access these platforms from within Japan and participate in trading for the purpose of making financial gains, they may be suspected of violating Japan's relevant gambling regulations.Bitbank emphasized that if the platform detects withdrawal and deposit records related to prediction markets or suspected related services in a user's account, it may implement suspension measures on that account. Once an account is suspended, the user will be unable to log in, trade, or withdraw and deposit cryptocurrency assets and yen, and the platform will not be responsible for any losses incurred as a result.

Michael Saylor, founder and executive chairman of Bitcoin Strategy Company, has once again released information related to Bitcoin Tracker, with the caption: "Still adding dots."According to previous patterns, Strategy always discloses information about increasing Bitcoin holdings the day after relevant news is released.

Ray Dalio, founder of Bridgewater Associates, recently published a lengthy article sharing his thoughts on the investment decision-making system in the AI era, emphasizing that human insights still hold irreplaceable value in financial markets.Dalio believes that investing is essentially a "value-added near-zero-sum" competitive environment. When certain information becomes widely recognized, its investment value often declines rapidly. Therefore, even the most advanced AI systems are insufficient for investors to rely on completely or to follow blindly; the true competitive advantage still lies in unique human understanding and deep insights.Drawing on Bridgewater's 50 years of development experience, Dalio suggests that decision-making should be based on a clear, understandable, and verifiable principle system. He states that principled thinking does not rely on intuition or experiential judgment, but rather systematizes decision-making standards by analyzing contexts and causal relationships, recording core principles, and utilizing historical data for verification, ultimately transforming them into computable and automatically executable decision systems.He also points out that the formation of principles cannot solely depend on data mining or directly asking AI, but must be based on logical reasoning and an understanding of the operational laws of the real world.Dalio describes this process as a "collaborative game" between humans and AI. In this model, AI provides systematic suggestions based on established principles, while humans engage in independent thinking according to their own principle framework. Both parties continuously optimize the decision-making system through comparison, discussion, and logical verification.He believes that truly valuable principles should transcend time and geography, enduring scrutiny across different historical cycles and market environments. If a principle fails, it is necessary to re-examine the underlying causal relationships and continuously revise it.Dalio states that he has already applied this method in his family office to fully leverage the new generation of AI technology and plans to continue sharing related methodologies with the outside world. He also reminds market participants that as AI technology continues to evolve, the ability to effectively combine artificial intelligence with principled thinking may become an important watershed for future competitiveness.

NASDAQ-listed company Tron Inc disclosed today the acquisition of an additional 157,392 TRX, with an average transaction price of approximately $0.3177, further expanding its TRX reserve scale. The company's total TRX holdings have surpassed 700 million for the first time, reaching 700.4 million as of now.

Cardano founder Charles Hoskinson stated that he has communicated with Phillip Pon and is planning to create a Discord to facilitate the migration of the Cardano community from X.Charles Hoskinson mentioned that he will continue to livestream on X in the future, but the Q&A session will only accept questions from the new Cardano Discord and the existing Midnight Discord. He stated that this move aims to provide the community with a better-managed and more positive communication space to foster genuine dialogue and drive real progress.

American software giant Adobe released its Q2 results for fiscal year 2026, with revenue of $6.62 billion, a year-on-year increase of 13%, and an 11% increase when calculated at constant exchange rates; diluted earnings per share were $4.25, and adjusted earnings per share were $5.96. At the end of the quarter, the total annual recurring revenue reached $27.1 billion, which includes approximately $480 million from Semrush. During the same period, GAAP operating income was $2.24 billion, and non-GAAP operating income was $2.95 billion; GAAP net income was $1.71 billion, non-GAAP net income was $2.4 billion, and cash flow from operating activities was $2.17 billion.Adobe CEO Shantanu Narayen stated that the record revenue in the second quarter reflects strong customer demand for artificial intelligence products.

PiggyBank released a detailed report on the LAB incident on June 6, stating that the protocol experienced a net withdrawal of approximately $579,000 on June 6, primarily due to a LAB token basis trade being manipulated by the market.In early May, PiggyBank purchased 142,800 locked LAB tokens (approximately $102,500) through an OTC intermediary while simultaneously opening a perpetual contract short hedge. However, market participants continuously maintained the spot price above the perpetual contract price, resulting in a deeply negative funding rate (annualized -17,000%), and the high hedging costs forced the shorts to close, resulting in a loss of approximately $476,000. The currently locked LAB tokens have a spot value of about $1 million, but due to poor liquidity and lack of hedging, they have been excluded from the NAV calculation.PiggyBank will undergo structural reforms: increasing transparency of on-chain mechanisms, strategy logic, and fund allocation will be publicly verifiable, while basis trading and funding rate arbitrage will be gradually phased out. In terms of compensation, affected users will receive USDC compensation based on actual losses, with funding sources including NAV discrepancies, future LAB sales (expected to unlock from August 14 to October 14, currently valued at approximately $1 million), and 50% of future platform revenue. All users recorded in the snapshot on June 6 are eligible for compensation.

According to monitoring by Catcher Predict, in the predicted market event "Washington Nationals vs. San Francisco Giants" on Polymarket, the option "San Francisco Giants" in the sub-market "Spread -1.5" experienced a sharp fluctuation in winning probability, dropping from 33.5% an hour ago to the current 11.5% (a fluctuation of 22%). Please note the impact of related breaking news.

According to the Wall Street Journal, Kalshi plans to require some participants in the prediction market to disclose their employer identities. It is reported that users will need to submit an online form disclosing their workplace when placing bets in markets involving undisclosed significant information, and this change will be rolled out in the coming weeks. Sensitive betting markets involving company performance, national security, and other areas are expected to require the disclosure of employment information.The audit committee report reveals for the first time that Kalshi has submitted over 20 referral cases to the U.S. Commodity Futures Trading Commission and the Department of Justice in the first quarter of 2026. This year, individuals referred to federal authorities include former New York Congressman George Santos and accounts related to military spouses.

According to Jinshi reports, the President of the Hong Kong Monetary Authority, Yu Weimen, stated in a media interview that Anchor Technology is expected to launch a stablecoin by mid-year and will begin trial use in a few weeks.HSBC is expected to launch a stablecoin in the third to fourth quarter of this year, with different application scenarios; Anchor Technology focuses on cross-border payments, while HSBC emphasizes retail payment scenarios. Yu Weimen emphasized that Hong Kong will continue to attract global capital inflows.

According to monitoring by Catcher Predict, in the predicted market event "Washington Nationals vs. San Francisco Giants" on Polymarket, the win probability for the "San Francisco Giants" option in the sub-market "Spread -1.5" has experienced significant fluctuations, dropping from 37.5% an hour ago to the current 14.5% (a fluctuation of 23%). Please note the impact of related breaking news.

Notable cryptocurrency bankruptcy creditor Thomas Braziel (@Bkclaims) disclosed that the original documents collected from the Isle of Man show that the earliest structure of the Cardano Foundation involved Charles Hoskinson, Jeremy Wood, Ken Kodama, and others. Subsequent documents indicate that Hoskinson served as the "Enforcer" of the foundation— a key position responsible for ensuring that the foundation's board acted in accordance with its charter.It is worth noting that Cardano's initial coin issuance began as early as September 2015, while the Swiss Cardano Foundation was not officially established until September 2016. During this period, the terms of service and risk disclosures listed the "foundation" as the issuer or supporter. Additionally, historical records of the Swiss Cardano Foundation also confirm the existence of the predecessor foundation in the Isle of Man and show that it received approximately 1,090 BTC.

According to monitoring by Catcher Predict, in the Polymarket prediction market for the "San Francisco Giants vs. Chicago Cubs" event, the "San Francisco Giants" option in the sub-market "San Francisco Giants vs. Chicago Cubs" experienced a sharp fluctuation in winning probability, dropping from 55.5% an hour ago to the current 39.5% (a fluctuation of 16%). Please note the impact of related breaking news.

Michael Saylor, the founder and executive chairman of Bitcoin Treasury Company Strategy, has once again released information related to Bitcoin Tracker, with the caption: "A good time to add more dots.."According to previous patterns, Strategy always discloses information about increasing Bitcoin holdings the day after relevant news is released.

According to monitoring by Catcher Predict, in the Polymarket event "San Francisco Giants vs. Chicago Cubs," the "Over" option in the sub-market "O/U 6.5" has experienced a sharp fluctuation in win rate, dropping from 55.5% an hour ago to the current 32.5% (a fluctuation of 23%). Please note the impact of relevant breaking news.

According to monitoring by Catcher Predict, in the Polymarket prediction market for the "San Francisco Giants vs. Chicago Cubs" event, the "San Francisco Giants" option in the sub-market "San Francisco Giants vs. Chicago Cubs" has experienced significant fluctuations in winning probability, soaring from 41.5% an hour ago to the current 62.5% (a fluctuation of 21%). Please note the impact of related breaking news.