Author: Tristan Lodenberg

Commodity perpetual swaps experienced unprecedented growth in the first quarter of 2026, with BitMEX reporting weekly trading volume soaring 65,463% from $38.1 million to $25.0 billion. Precious metals and energy particularly silver (XAG), crude oil (CL), and gold (XAU) were the primary drivers of this surge, highlighting rising demand for 24/7 exposure to commodities via crypto-native venues. Market Share by Commodity As of mid-March, silver accounted for 34.8% of tokenized commodity market share, followed by crude oil at 27.7%, gold at 27.5%, and Silver on Hyperliquid at 6%. BitMEX attributed the crude oil spike to ongoing geopolitical tensions in Iran,…

The U.S. Court of Appeals for the District of Columbia Circuit has rejected Anthropic’s emergency request to pause the Pentagon’s designation of its technology as a national security supply chain risk. The three-judge panel ruled that government interests in controlling the use of AI during active military conflict outweighed potential financial and reputational harm to the company. In its decision, the court stated that “the equitable balance here cuts in favor of the government,” emphasizing that the risk to national security took priority over the business impact on a single private firm. The designation remains active and prevents contractors working…

The European Union on Thursday firmly rejected Iran’s proposal to impose tolls on shipping through the Strait of Hormuz, emphasizing that freedom of navigation in the vital Gulf waterway must be ensured without any payments. The statement came as diplomatic efforts continue following a two-week ceasefire between Iran and the United States after over a month of hostilities. EU and International Law Position European Commission spokesman Anouar El Anouni clarified that “international law provides for the freedom of navigation, which means… basically no payment or toll whatsoever.” He added that freedom of passage is a public good that must be…

The latest Core PCE Price Index for March rose 0.4% month-over-month, matching both the forecast and February’s reading. The steady inflation metric suggests consumer prices are rising at a moderate pace, providing signals for the Federal Reserve’s future policy decisions. Final GDP Growth Slows US GDP growth for Q1 2026 came in at 0.5% quarter-over-quarter, below the 0.7% forecast and prior quarter. The slowdown indicates softer economic momentum, placing pressure on the US dollar. A weaker than expected GDP combined with stable inflation tends to boost safe haven demand. Gold prices often rise when the dollar loses momentum, as investors…

Canary Capital has submitted a Form S-1 application to the U.S. Securities and Exchange Commission seeking approval to launch a spot exchange-traded fund tied to the PEPE memecoin. The proposed product, named the CANARY PEPE ETF, is designed to track the price performance of the Pepe token by holding the asset directly through a designated custodian. According to the filing, the ETF trust may allocate up to 5% of its assets to Ether in order to cover transaction fees associated with activity on the Ethereum blockchain. The move highlights the operational requirements of maintaining blockchain-based assets within a regulated investment…

U.S. Treasury Secretary Scott Bessent has intensified pressure on Congress to pass the Digital Asset Market CLARITY Act, emphasizing that clear rules for cryptocurrencies, tokenized assets, and decentralized exchanges are critical for maintaining U.S. leadership in financial innovation. In a recent op-ed, Bessent noted the global crypto market has reached $3 trillion, with nearly one in six Americans holding digital assets. House Approval and Senate Delays The CLARITY Act passed the U.S. House of Representatives in July 2025 but has faced repeated delays in the Senate, largely over how stablecoin yields should be treated. Traditional banks argue that yield payments…

The Royal Government of Bhutan recently moved approximately 319.7 BTC, valued at $22.68 million, across two wallets on Thursday, according to on-chain data. One recipient wallet reportedly routed funds for sales via Galaxy Digital and OKX, while the second was a new, unmarked address. Year-to-Date Bitcoin Transfers Arkham data shows Bhutan has transferred around $215.7 million worth of bitcoin from its holding addresses so far in 2026, with $162.6 million directed to unlabeled wallets. These transactions follow a broader trend, leaving Bhutan with 3,954 BTC, worth roughly $280.6 million. At its peak in October 2024, the country held nearly 13,000…

South Korean crypto exchange Bithumb has begun legal proceedings to recover 7 Bitcoin that remain unreturned following a major payout error during a promotional event earlier this year. The exchange filed for a provisional attachment, a court approved measure designed to freeze assets before a civil lawsuit, targeting users who have not yet returned the mistakenly distributed funds. The error occurred on Feb. 6 when Bithumb intended to distribute 620,000 Korean won (about $420) to 249 winners of an event. Due to an input mistake, the system accidentally sent 620,000 Bitcoin instead of the intended fiat amount. At the time,…

Dubai’s Virtual Assets Regulatory Authority (VARA) released detailed guidance on token issuance, specifying how stablecoins, real-world asset (RWA) tokens, and other digital assets should be structured, disclosed, and distributed. The guidance interprets VARA’s existing Virtual Asset Issuance Rulebook, establishing three distinct issuance categories rather than creating new law. Three Issuance Pathways Category 1 covers fiat- and asset referenced tokens, Category 2 requires distribution through VARA-licensed intermediaries, and exempt virtual assets with limited functionality fall under Category 3. Licensed distributors in Category 2 are responsible for due diligence and ongoing compliance validation. Enhanced Transparency and Governance Ruben Bombardi, VARA general counsel,…

Lightning Labs CTO Olaoluwa “Roasbeef” Osuntokun has unveiled a working prototype designed to protect Bitcoin wallets from potential quantum attacks. The tool enables users of vulnerable Taproot and other modern wallets to prove wallet ownership using their secret seed without revealing it, providing a backup method if the network disables traditional digital signatures. Bitcoin currently relies on cryptographic signatures, which a sufficiently powerful quantum computer could forge. To counter this, developers have proposed BIP-360, a quantum resistant wallet migration plan, and an “emergency brake” upgrade that would shut off Bitcoin’s signature system. While the emergency brake could prevent theft, it…