SEC Advances Crypto Custody Rules Amid Record Funding for Derivatives Platform

The US Securities and Exchange Commission (SEC) has taken another step towards overhauling the rules for crypto custody by investment advisers. This development comes as a welcome move for the industry, which has been grappling with regulatory uncertainty.

Meanwhile, cryptocurrency derivatives platform Kalshi has secured $1.12 billion in funding since April 3 through a private equity offering. The platform still has $380 million available under the same Form D notice.

Ripple's XRP token may see increased supply as a result of new SEC filing details. According to attorney Bill Morgan, an August 26 registration statement for the Cryptex Digital Market Cap ETF assigns XRP a 4.88% portfolio weight.