Michael Selig named two people as senior advisers, one of whom helped with a law firm‘s letter that led to an SEC no-action letter on crypto custodians. Michael Selig, chair of the US Commodity Futures Trading Commission (CFTC), announced the appointment of a senior adviser with experience in litigating crypto and blockchain cases. In a Tuesday notice, Selig said Michael Passalacqua, a former associate at international law firm Simpson Thacher & Bartlett, would join the CFTC as a senior adviser. Selig cited Passalacqua’s experience with “financial regulatory matters involving crypto assets and blockchain technologies.” “Earlier in his career, [Passalacqua] served as assistant general counsel at a crypto asset capital markets firm where he advised on a range of crypto asset regulatory and transactional matters,” said Selig. Read more
ETH sold off at the weekly open, but its net taker volume metric turned positive for the first time in years. Will bulls take notice of the signal and attempt to press Ether price higher? Ether (ETH) derivatives data has begun to highlight a structural shift. After nearly three years of sell-side dominance, ETH’s net taker volume has turned positive, possibly pointing to renewed interest from futures traders. Key takeaways: ETH net taker volume reached $390 million since Jan. 6, the largest buy imbalance since January 2023. Read more
The deal adds a long-running dataset on tokenized real-world assets to RedStone’s oracle business as RWA activity spans public blockchains and institutional networks. Blockchain oracle provider RedStone has acquired Security Token Market (STM) and its TokenizeThis conference, adding a large dataset on tokenized real-world assets to its existing oracle business. According to an announcement, the acquisition brings STM’s historical data, covering more than 800 tokenized products across equities, real estate, debt and fund structures, under RedStone’s ownership, along with control of the TokenizeThis conference brand. STM founder Herwig Konings will join RedStone as an adviser and head of TokenizeThis, while STM chief operating officer Jason Barraza will take on an institutional business development role focused on asset managers, banks and tokenization platforms. Read more
The hedge fund manager said central banks were not handling fiat in the same way, warning of a breakdown in the global monetary order. Billionaire hedge fund manager Ray Dalio issued a stark warning for the global economy amid US President Donald Trump’s threats of tariffs and seemingly unpredictable economic policies for the country. Speaking to CNBC’s Andrew Ross Sorkin from the World Economic Forum (WEF) in Davos, Switzerland on Tuesday, Dalio said the monetary order was “breaking down,” warning of a change in behavior of how central banks handled fiat. According to the hedge fund manager, both fiat holders and “those who need it” were concerned about each other, creating a “big issue” down the line. Read more