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first_img Anchorage Digital applies for CFTC swap dealer registration, planning to expand its cryptocurrency options business

Institutional-level cryptocurrency platform Anchorage Digital has submitted a swap dealer registration application to the U.S. Commodity Futures Trading Commission (CFTC) to expand its institutional cryptocurrency options business. The application was submitted through Anchorage Digital Swap Dealer, LLC to the National Futures Association (NFA) and is currently awaiting NFA's review. The company's CEO and co-founder Nathan McCauley did not provide a timeline for the completion of the review, only stating that further progress will be announced at the appropriate time.McCauley stated that if the application is approved, Anchorage Digital Swap Dealer plans to offer European-style options for Bitcoin and Ethereum, with a maximum term of one year, and will subsequently launch more products as it meets its own approval processes and regulatory requirements. Once the registration is complete, institutional clients will be able to trade digital asset derivatives with CFTC-registered counterparties while also utilizing Anchorage Digital's existing custody and other services.Anchorage Digital noted that the growth of its existing options business primarily comes from publicly traded companies holding Bitcoin and Ethereum on their balance sheets, with asset management firms and funds using options to manage exposure also contributing. Anchorage Digital Bank, N.A. became the first federally licensed digital asset bank in 2021, regulated by the Office of the Comptroller of the Currency; this swap dealer entity will adhere to CFTC requirements regarding capital, risk management, and margin, applying the same framework used for interest rate, credit, and foreign exchange market banks under the Dodd-Frank Act. In March of this year, Anchorage Digital added collateral management features to the Atlas platform, and in December of last year, it acquired the wealth management division of Securitize.

Data: In 2026, the number of cryptocurrency dead projects increased to 368, with 37 projects raising over 10 million USD

According to the compilation of the "2026 Crypto Dead Projects List", the number of dead projects this year has reached 368, an increase of 244 from the number disclosed on August 14. Among them, 85 projects actively announced their cessation of operations, accounting for 23.1%; the remaining 283 were identified by RootData based on operational status monitoring and review, accounting for 76.9%.The list includes on-chain projects such as Blast, Abstract, Balancer, Goldfinch, Zapper, Proof of Play, Linera, as well as trading platforms like CoinEx and BitMEX. Among these, 37 projects raised over $10 million, and 94 projects raised over $1 million. In terms of sector labels, DeFi projects are the most numerous, with a total of 110, accounting for 29.9%; infrastructure projects number 64, accounting for 17.4%, with 13 projects each in Layer1 and Layer2. The AI label involves 27 projects. The list covers multiple fields including trading and lending, underlying networks, gaming, and AI.It is reported that RootData regularly monitors the operational status of over 21,000 projects in its database. In addition to determining based on announcements and news, they also conduct further manual reviews of projects that have not updated their official websites and social media for over six months. For more details, see the article "Statistical Logic and Thoughts on RootData's Dead Projects List".

first_img Proton CTO: Programming is dead, engineers should help models write code

The privacy email and VPN service provider Proton publicly shared an internal memo titled "AI @ Proton, Engineering Manifesto," written by Chief Technology Officer Bart Butler about a month ago. The memo states that software engineering has undergone irreversible changes this year, as large language models and their tools can now write code. A senior Proton engineer indicated that no one in their business unit is writing code by hand anymore. Butler believes that the era of manually writing excellent code is over; time-consuming tasks such as documentation, testing, and boilerplate code can be handled by models, which can also participate in architecture and system design discussions.Butler pointed out that although engineers are widely using large language models, Proton's productivity has not significantly improved for three reasons. First, the engineering culture needs to shift; the work of engineers is no longer to write code but to help models write better code faster. Each engineer should become a team leader for models and agents, promoting their autonomous and continuous work, and reducing repetitive failures through repository-level context, shared skills, and prompts. Second, the company is still in the first phase of using models to accelerate existing processes and needs to enter the second phase, which involves eliminating bottlenecks across continuous integration, design, approval, specifications, and code review, with the expectation that most manual code reviews will come to an end. Third, there is a collective action problem between individual use of models and the overall transformation of company processes, as the organization has not invested enough resources.The memo emphasizes that this is not the end of expertise or good engineering practices; maintainability, documentation, and testing remain critical, but best practices will adjust with changes in cost and capability. Butler wrote, "Programming is dead," but engineering and professional skills have not vanished. The new responsibility of engineers is to continuously optimize and maximize automation as builders, and Proton will organize and allocate resources to complete this transformation. Proton stated that the memo is not an in-depth discussion of engineering documents related to security, reliability, or infrastructure. It also mentioned that technology companies have laid off over one million people in recent years, and Microsoft proposed 60,000 buyout offers last week.
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