Whale mtAAVEbank.ETH sold over 138000 LINK worth $1.9 million 6 hours ago, at a BTC price of $84000. The whale sold LINK to fund its 8-fold leveraged CRCL position on Hyperliquid, which had a loss of over $1.25 million at one point, and currently holds over $21 million in digital assets, with over 10% of the funds coming from Aave loans.

The CFTC Chairman stated that under the proposed rules, only cryptocurrency exchanges regulated at the federal level are allowed to offer leveraged trading. Lawyer Michael Selig stated that states are only allowed to engage in currency transmission business, and the commonly used 100x leverage in offshore markets has never been allowed in the United States and will not be an exception in the future.

Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission, stated that under the proposed rules, only federally regulated cryptocurrency exchanges can offer leveraged trading, and states can only provide fund transfer related services. Michael Selig pointed out that the commonly used 100x leverage in offshore markets is not allowed to be provided in the United States.

CFTC Chairman Rostin Behnam stated that under the proposed rules, only federally regulated cryptocurrency trading platforms can offer leveraged trading, states can only provide currency transfer services, and 100x leverage is not allowed in the United States. (Source: CNBC)

Coinbase plans to relaunch Coinbase Pro by the end of the year, supporting spot, futures, perpetual contracts, options, and stock trading, and has completed integration with Deribit to create the Coinbase Global exchange. Qualified US foreign traders will be granted option trading privileges in the coming weeks, while US retail traders are expected to be granted privileges later this year. US institutional clients can trade Deribit options and perpetual futures through Coinbase Prime, and use custody, financing, and staking services on the same platform.