According to @secondswap_io, TradFi scaled by building durable market systems and learned that primary markets alone are insufficient because markets break without efficient exits, source: SecondSwap on X, Jan 8, 2026. The post states that DeFi skipped secondary markets, pushing locked tokens into DMs where prices feel random and trust erodes, source: SecondSwap on X, Jan 8, 2026. The team says SecondSwap creates an on-chain secondary market for locked tokens that verifies delivery and scales with demand, source: SecondSwap on X, Jan 8, 2026. For traders, this is positioned as the path to broader crypto adoption by enabling efficient exits and more transparent participation in locked-token markets, source: SecondSwap on X, Jan 8, 2026. The post links to an interview with @LCV_KL on @CryptoCoinShow for further details: https://x.com/secondswap_io/status/2009188484112896053, source: SecondSwap on X, Jan 8, 2026.

According to @EleanorTerrett, the Senate Agriculture Committee spent months building a bipartisan crypto market structure discussion draft, but negotiations have hit turbulence late in the process. @EleanorTerrett added that the House Agriculture Committee passed its portion of the CLARITY framework with a 47-6 bipartisan vote last summer. Reporter Jasper Goodman reported that Chair John Boozman is finalizing a new market structure draft planned for a Jan. 15 markup, but the current draft does not have Democratic buy-in. For traders, the immediate policy milestone to monitor is the Jan. 15 markup timeline reported by Goodman.

According to @EleanorTerrett, a Senate Agriculture Committee spokesperson said the committee will hold its own crypto market structure markup on January 15, the same day the Senate Banking Committee Republicans plan their markup; source: @EleanorTerrett on X, Jan 7, 2026. This creates a busy day for crypto policy on Capitol Hill with simultaneous market structure markups scheduled by SenateAg and BankingGOP; source: @EleanorTerrett on X, Jan 7, 2026.

According to @EleanorTerrett, the U.S. Senate’s Republican-led Banking Committee markup on crypto market structure is roughly a week away, setting a near-term policy calendar for traders to monitor for headline catalysts, source: X post by @EleanorTerrett on Jan 7, 2026. According to @EleanorTerrett, the post also flags significant industry lobbying activity heading into the markup, indicating concentrated efforts to shape the legislative text that could define market structure rules, source: X post by @EleanorTerrett on Jan 7, 2026. According to @EleanorTerrett, there is an open question whether the Senate Agriculture Committee will also hold a markup next week, which would concentrate multiple regulatory developments in the same window, source: X post by @EleanorTerrett on Jan 7, 2026.

According to @EleanorTerrett, a Politico-published closing offer outlines six unresolved items in Senate crypto market-structure negotiations, including a non-SDN blacklist and treatment of unlicensed money transmitters under 18 U.S.C. 1960 (source: Politico closing offer document; @EleanorTerrett on X). The meeting included 13 senators from both parties plus David Sacks and Patrick Witt, and attendees indicated there is still work left to do (source: @EleanorTerrett on X). The offer also references the GOP Majority Whip’s Blockchain Regulatory Certainty Act, which seeks to protect non-custodial software developers and codify self-custody (source: Politico closing offer document; @EleanorTerrett on X). For trading, emphasis on 18 U.S.C. 1960—central in the Roman Storm and Tornado Cash charges—underscores ongoing enforcement risk for privacy and mixing tools, while potential statutory protections for non-custodial software directly relate to DeFi infrastructure compliance exposure (source: U.S. Department of Justice Aug 2023 Tornado Cash charges; Politico closing offer document; @EleanorTerrett on X).

According to @EleanorTerrett, Sen. Cynthia Lummis of Wyoming announced she will not run for reelection and will leave office on January 3, 2027, making crypto market structure legislation her final focus in Congress. Source: Eleanor Terrett on X, Dec 19, 2025. Lummis co-authored the bipartisan Lummis–Gillibrand Responsible Financial Innovation Act, which proposes clarifying digital asset market structure and CFTC–SEC jurisdiction, a framework that traders are watching for potential advancement before the end of her term. Source: U.S. Senate press release by Sens. Lummis and Gillibrand, July 12, 2023; Congress.gov bill summary for the Responsible Financial Innovation Act. Momentum from the House passage of the FIT21 market structure bill in May 2024 increases the likelihood of Senate action this Congress, making committee hearings and markups potential volatility catalysts for BTC and ETH. Source: U.S. House Clerk roll call on FIT21, May 22, 2024; Reuters, May 22, 2024. Policy clarity has historically coincided with higher crypto volumes and price responses, as seen after the SEC approved spot Bitcoin ETFs on January 10, 2024, which was followed by elevated trading and a price jump in BTC. Source: SEC Order approving spot Bitcoin ETFs, Jan 10, 2024; Reuters, Jan 11, 2024.

According to Eleanor Terrett, senators are holding a bipartisan meeting this morning to continue negotiating crypto market structure, with a separate White House session this afternoon involving representatives from several leading industry firms, and later a meeting between senators and CEOs from Bank of America, Citi, and Wells Fargo to discuss curbing interest payments by affiliates of stablecoin issuers (source: Eleanor Terrett, X post, Dec 11, 2025). The White House involvement and back-to-back Senate engagements indicate active policy work on market structure and stablecoin oversight explicitly cited in the schedule (source: Eleanor Terrett, X post, Dec 11, 2025). Terrett also notes the White House meeting was flagged via an email reviewed by CryptoAmerica, highlighting formal coordination with industry representatives (source: Eleanor Terrett, X post, Dec 11, 2025). For traders, key watch items from the stated agenda are market structure terms discussed in the bipartisan Senate meeting, White House signals from industry consultations, and any Senate-CEO outcomes on curbing stablecoin-affiliate interest payments, which directly pertain to stablecoin issuer banking relationships described in the source (source: Eleanor Terrett, X post, Dec 11, 2025).

According to @WatcherGuru, top U.S. bank CEOs are set to meet with Senators to discuss crypto market structure legislation, signaling potential progress on jurisdiction, custody, and market access rules relevant to digital assets (source: @WatcherGuru, Dec 8, 2025). Traders should monitor the U.S. Senate Committee on Banking, Housing, and Urban Affairs calendar for official confirmation and agendas to time headline risk and liquidity positioning (source: U.S. Senate Committee on Banking, Housing, and Urban Affairs). Key points to track include the CFTC–SEC jurisdiction split outlined in the Financial Innovation and Technology for the 21st Century Act (FIT21), which passed the U.S. House in 2024 and frames token classification and exchange registration pathways that influence U.S. market access for BTC and ETH (source: U.S. Congress, H.R. 4763 FIT21). Bank participation indicates focus on regulated crypto custody and integration with broker-dealers and payment rails, areas previously guided by OCC interpretive letters that set conditions for banks’ digital-asset activities (source: Office of the Comptroller of the Currency, Interpretive Letters 1170, 1172, 1179). For positioning, set alerts for committee notices and potential post-meeting statements from banks, and watch U.S. trading hours for shifts in crypto exchange liquidity and derivatives basis if policy specifics emerge (source: U.S. Senate Committee on Banking, Housing, and Urban Affairs; major U.S. bank investor relations updates).

According to @EleanorTerrett, the latest Crypto in America weekly wrap-up highlights market structure developments, a Citadel versus DeFi storyline, and leveraged spot trading reaching the CFTC, summarizing the week’s key policy, institutional, and industry moves for traders (source: @EleanorTerrett via Crypto in America). The post is presented as a quick refresh for market participants tracking regulatory and institutional shifts in crypto (source: @EleanorTerrett via Crypto in America).

According to @jchervinsky, Citadel’s letter characterizing everyone in crypto as an intermediary appears designed to establish standing to sue once the SEC adopts its long-promised innovation exemption, highlighting a legal strategy that could follow the rule’s release (source: @jchervinsky). He states that traditional finance is poised to run the 2023 crypto policy playbook, implying imminent legal challenges and policy confrontation around the SEC’s innovation exemption (source: @jchervinsky). For traders, this flags near-term regulatory headline risk and timing volatility around the SEC’s innovation exemption adoption and any subsequent litigation by TradFi firms, making policy calendars and court filings critical catalysts to monitor (source: @jchervinsky).

According to @HenriArslanian, a new interview with @namdar, CEO of @BNBNetworkCo, explores the unique role of DATs versus ETFs, with the full episode available on YouTube bit.ly/4ovf4E7, Spotify bit.ly/4q2QnAf, and Apple bit.ly/4rEysBt, powered by Phoenix Group UAE, source: Henri Arslanian on X Dec 2 2025. For traders, the interview is positioned to inform assessments of how DAT structures could be compared with ETFs in areas such as liquidity access, trading hours, and fee considerations, source: Henri Arslanian on X Dec 2 2025. No product launch details, pricing, or performance metrics were disclosed in the post itself, so any trading decisions should be based on the full interview content, source: Henri Arslanian on X Dec 2 2025.

According to @EleanorTerrett, derivatives exchange Bitnomial is preparing to offer spot crypto trading, described as the first CFTC-regulated spot crypto trading, signaling a potential new onshore venue for digital assets (source: @EleanorTerrett on X, Dec 1, 2025). The report adds that U.S. crypto market-structure talks are coming down to the wire this week, highlighting a near-term regulatory window to monitor (source: @EleanorTerrett on X, Dec 1, 2025). For trading desks, the update frames this week as a watch period for developments that could influence order flow and liquidity across majors such as BTC and ETH if the venue launch proceeds as indicated (source: @EleanorTerrett on X, Dec 1, 2025). The post does not provide a launch date or a list of supported assets, leaving timing and product scope to be confirmed (source: @EleanorTerrett on X, Dec 1, 2025).

According to @cas_abbe on X on Nov 30, 2025, the current crypto cycle features no AltSeason for over three years, the worst Q4 since the 2018 bear market, altcoins peaking before BTC, and BTC rising while diverging from liquidity; based on these observations, he argues crypto is shifting to a macro-asset regime with 5–10 year uptrends and 1–2 year bear phases, implying traders should de-emphasize four-year halving playbooks and “sell in May” seasonality in favor of longer-duration trend structures per his view (source: X/@cas_abbe, Nov 30, 2025).

According to @AltcoinDaily, the U.S. Senate has released a draft crypto market structure bill, but the post does not include a bill number, committee name, or a link to the draft text. Source: Altcoin Daily on X, Nov 11, 2025. Traders should confirm the draft’s existence and details on primary sources that publish official texts and schedules, including Congress.gov and relevant U.S. Senate committee pages. Source: Congress.gov; U.S. Senate official committees. U.S. market regulators caution that digital asset markets are high-risk and news-driven, so waiting for the official text before adjusting BTC and ETH exposure aligns with regulator guidance to verify information and understand risks. Source: U.S. CFTC Customer Advisories on digital assets; U.S. SEC Office of Investor Education investor alerts. When the draft is posted, assess any sections on asset classification and market oversight, as those determine SEC and CFTC jurisdiction and exchange obligations under existing securities and commodities laws. Source: U.S. Senate Committee on Banking, Housing, and Urban Affairs jurisdiction; U.S. Senate Committee on Agriculture, Nutrition, and Forestry jurisdiction.

According to @EleanorTerrett, the Senate Agriculture Committee has released a bipartisan crypto market structure discussion draft on Nov 10, 2025 (source: @EleanorTerrett on X, Nov 10, 2025). According to @EleanorTerrett, the announcement confirms the document is a discussion draft from the committee, indicating formal movement in U.S. crypto market-structure policymaking (source: @EleanorTerrett on X, Nov 10, 2025). According to @EleanorTerrett, the post does not include the draft text, scope, or timing details, so traders can currently confirm only the release event and should await the full document for specifics on market structure implications (source: @EleanorTerrett on X, Nov 10, 2025).

According to @LexSokolin, stablecoins are a subset of tokens and tokens are a native feature of blockchains, highlighting tokenization as core crypto market infrastructure. Source: Lex Sokolin on X, Nov 9, 2025, https://twitter.com/LexSokolin/status/1987473910909251944 He adds that Ethereum is the accelerant to financial innovation, framing ETH as foundational infrastructure for tokenized money and settlement flows. Source: Lex Sokolin on X, Nov 9, 2025, https://twitter.com/LexSokolin/status/1987473910909251944 For traders, the post directs attention to Ethereum’s token and stablecoin activity when assessing ETH market structure and liquidity narratives. Source: Lex Sokolin on X, Nov 9, 2025, https://twitter.com/LexSokolin/status/1987473910909251944

According to @CryptoMichNL, the discussion with @JSeyff focuses on how the Bitcoin (BTC) and Ethereum (ETH) spot ETFs have changed market dynamics since approval, highlighting their growing role in price discovery and capital access for traders and institutions, source: X/@CryptoMichNL. The U.S. SEC’s January 2024 approval of spot Bitcoin ETFs and subsequent 2024 approval of spot Ethereum ETFs enabled regulated brokerage access and primary market creations and redemptions that can transmit demand into underlying BTC and ETH via cash-based processes, affecting liquidity and intraday volatility, source: U.S. SEC orders and ETF prospectuses on sec.gov. For trading, monitoring ETF creations redemptions and U.S. session flows has become more important because cash creations require authorized participants to source BTC and ETH in the spot market, which can influence short-term spreads and basis around U.S. equity hours, source: U.S. SEC ETF filings and operational disclosures on sec.gov.

According to @LexSokolin, the crypto industry should stop relying on centralized finance (CeFi) and instead execute trading and build infrastructure on decentralized finance (DeFi), comparing current behavior to complaining about Windows Phone while trading Apple stock; source: Lex Sokolin on X, Oct 21, 2025. He advocates on-chain execution and self-custody over centralized venues as the solution for crypto-native market activity; source: Lex Sokolin on X, Oct 21, 2025.

According to Jordi Alexander, exchanges that issue native tokens should prioritize users over token holders or risk losing both, highlighting structural risks that traders must factor into venue and token exposure decisions (Source: Jordi Alexander @gametheorizing, X post on Oct 11, 2025, https://twitter.com/gametheorizing/status/1976946050909827214). He argues that instead of celebrating vault profits made from their users, operators should address obvious market-structure flaws, signaling caution for strategies that rely on opaque execution or yield extraction from retail flow (Source: Jordi Alexander @gametheorizing, X post on Oct 11, 2025, https://twitter.com/gametheorizing/status/1976946050909827214). He further advises market participants who were rekt in such flawed markets to learn the right lessons and rebuild, reinforcing a risk-management focus for traders evaluating exchange tokens and venue selection (Source: Jordi Alexander @gametheorizing, X post on Oct 11, 2025, https://twitter.com/gametheorizing/status/1976946050909827214).

According to @dydxfoundation, Charles d’Haussy stated that “the money coming into crypto this cycle is smarter money,” highlighting a discussion among leaders from EY, Tether, and dYdX about how clearer regulation and institutional discipline are reshaping the next phase of crypto markets (source: @dydxfoundation, Oct 8, 2025). The post underscores an institutional, compliance-driven market structure narrative that is relevant for traders monitoring liquidity conditions, order-book depth, and volatility across major venues (source: @dydxfoundation, Oct 8, 2025).