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Jake Chervinsky, lawyer and head of policy at Variant Fund and Blockchain Assoc., reports that CME filed its opposition to the CFTC's motion to dismiss. The filing, submitted on Friday, included references to HyperliquidPC's amicus brief and Chervinsky's own commentary but allegedly did not address arguments about fixed versus expanding markets and the appropriate zone of interests. According to Chervinsky, the CFTC is expected to file its reply by October 16.
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Earlier, Chervinsky reported that HyperliquidPC filed an amicus brief in CME v. Selig, arguing that CME lacks standing to block perpetual futures. He has also outlined his long-term goal to move all finance onto public blockchains to surpass traditional financial institutions. These developments provide context for ongoing disputes surrounding derivatives and regulatory authority.