🎙️ The Permanent Battle: Regulated Perps, Sovereign Reserves, and the Banking Backlash

🎙️ The Permanent Battle: Regulated Perps, Sovereign Reserves, and the Banking Backlash

May 31, 2026 · 21 min

About this episode

The episode discusses the implications of the CFTC's decision on crypto perpetual futures and the ongoing political battles surrounding crypto legislation in the U.S.

In our May 31st issue, we dissect a monumental shift in U.S. financial architecture as the CFTC opens the gateway for onshore retail crypto perpetual futures. As Coinbase and Kalshi charge forward, a parallel war erupts in Washington, where partisan friction threatens landmark crypto legislation. We expose the institutional and sovereign landscape: from Texas creating a state-level Strategic Bitcoin Reserve committee with top mining executives, to Treasury Secretary Bessent revealing a ...

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Organizations: CFTC, Coinbase, Kalshi

Places: Texas

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