Payward Services' @CFBenchmarks indices now power @cryptocom and @og_com new CFTC-regulated crypto perpetual futures offering for eligible US traders. It joins Kalshi and Bitnomial as another CF Benchmarks-powered venue for US crypto perps. CF Benchmarks indices are available to partners through a single integration.

There’s still a lot of misinformation about perpetual futures floating around. Let’s start with the premise that a futures contract has to expire. Where does it say that in the statute? Calling a perp a swap doesn’t create a different risk to the financial system. What matters is how the contract is margined, cleared and managed when someone defaults. If a perp can operate with the same safeguards as a traditional future, why should the absence of an expiration date exclude it from that framework? Then there’s the claim that perps necessarily come with massive leverage and auto-deleveraging. That's just totally wrong. You absolutely can build a perp with reasonable leverage and no ADL. You could also build a quarterly futures contract with massive leverage and auto-deleveraging. Those are design choices. I’m in favor of perps because they can address real inefficiencies in existing markets. An oil ETF could maintain its exposure without the trading costs and slippage of predictably rolling futures. A stock perp could pass the economic benefit of hard-to-borrow demand to the long holder—value that rarely reaches retail shareholders today. Producers still need traditional futures to hedge forward production. Perps complement those contracts. List both. Let people use the instrument that meets their needs. More from my discussion with @TheStalwart and @tracyalloway on Odd Lots:

Excited to work with Payward to forge a path for onchain derivatives built on Hyperliquid's infrastructure. Kraken is one of the most trusted and respected exchanges in crypto. They are also true believers in the technology and crypto ethos. We're honored that they are building on Hyperliquid to bring the next evolution of perpetual markets to the United States.

Payward, the parent company of Kraken, announced its intention to be the first CFTC-regulated deployer on HIP-3* markets. Payward will use Hyperliquid as the infrastructure layer to deploy perpetual futures markets for US clients. Subject to regulatory approval, Bitnomial, Payward’s CFTC-regulated DCM and DCO, would act as the HIP-3* deployer: creating, owning, and administering the markets and clearing and settling the contracts. If approved, NinjaTrader Clearing, Payward’s CFTC-registered FCM, would carry client accounts. HIP-3 will support optional deployer configuration for permissioned markets in a future network upgrade. This set of additional deployer functionality is collectively called HIP-3*. At its core, HIP-3* activation involves an onchain allowlist managed by the deployer or its sub-deployers. The functionality is strictly additive to HIP-3; its use is optional and up to the deployer. Existing markets remain unchanged. The initial release is available on testnet, where specifications are preliminary and subject to change based on feedback. Hyperliquid is a neutral infrastructure layer with the goal of supporting large parts of the financial system. HIP-3* gives deployers additional functionality to operate deployments consistent with the requirements applicable to them. As with HIP-3, HIP-3* deployers are independent operators who use Hyperliquid as the onchain infrastructure layer for their own markets, while retaining control and responsibility over their deployment.

the monero:native emails were us. they were wrong. here is what happened and what changed. what happened - clients who bought xmr with their own money and withdrew it got an email asking for employer, source of funds and what they planned to do with their coins - no rule required it. someone saw a young client with a lot of money and called it a red flag. that is not a red flag. that is our customer and client what changed - those requests are withdrawn and the clients have been told nothing is required of them - the "what will you do with your coins" question is gone and unacceptable. where your money came from is a fair question. what you do with it after it leaves is not xmr stays listed. buy it here, take it home. that is the product.. we'll keep making it better. thx for the call out.

Ken Griffin on France and socialism… "Paris should be a real wake up call to every single American. Government spending is 60% of their GDP. It’s the socialist dream the left talks about. That dream comes down to how much you can take from others. It doesn’t belong in America."

@RoKhanna I absolutely cannot afford to stay, given that you and your corrupt union overlords are planning another "one-time" tax in two years. This is not a 5% tax, it's a full confiscation of all my liquid assets. It's going to bankrupt founders without full liquidity.

Launching a US derivatives product no longer means you have to build it yourself. The demand is clear: the 11 largest centralized perpetual exchanges averaged $4.69T in monthly trading volume in early 2026. Our latest blog maps four ways to bring a US derivatives product to market without building the full stack ↓

Payward Pulse is back. It covers the recent agreement to acquire EU-licensed Saldo Bank, clearance to serve clients in Dubai and in-principle approval from Kazakhstan’s AFSA. Co-CEO @ArjunSethi also joins @ScottMelker to talk tokenization, private-market access & more. Watch Episode 7 ↓