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The Commodity Futures Trading Commission (CFTC) has initiated a groundbreaking Digital Assets Pilot Program, as reported by Michael Geike. This program marks the first time Bitcoin, Ethereum, and USDC will be permissible as collateral in derivatives markets.
Acting Chair Kristin Johnson Pham points to this move as a significant step in integrating digital currencies into traditional financial systems.
The CFTC's initiative arrives amid a wave of institutional engagement with digital assets, building on industry shifts such as JPMorgan's pursuit of Bitcoin-linked notes in partnership with BlackRock's ETF developments—a theme previously explored in Michael Geike's coverage of JPMorgan's foray into Bitcoin notes. Developments in digital infrastructure, including the adoption of global standards like SWIFT’s transition to ISO 20022, further underscore the accelerating integration of digital assets within established financial networks.