According to Milk Road (@MilkRoadDaily), spot crypto trading is coming to U.S. stock exchanges and is a net positive for Coinbase because TradFi rails will onboard new users while Coinbase and treasuries like $SBET sell them the rest of the crypto stack; source: Milk Road (@MilkRoadDaily), mrcrypto.milkroad.com/p/should-coinbase-be-worried-about-this.

According to Eleanor Terrett, the U.S. Commodity Futures Trading Commission (CFTC) has announced a new initiative to examine the trading of spot crypto asset contracts on CFTC-regulated exchanges (Designated Contract Markets, DCMs), as part of a broader crypto regulatory sprint led by acting chair Caroline D. Pham. The CFTC is also soliciting public feedback on this proposal. This move signals a potential shift toward increased regulatory oversight and infrastructure for spot crypto trading in the U.S., which could impact liquidity, price discovery, and institutional participation (source: Eleanor Terrett).