Phantom’s CFTC filing puts self-custody wallets at the center of the next US fight over regulated on-chain perps.
Gino Matos 6 min read 
The New York case still targets more than 39,000 addresses, but recent transfers are testing the claim that long silence proves abandonment.
The Executive Council voted 3-2 against the proposal, halting a structure that would have moved BTC collateral from credit design into a state-linked approval process.
The ruling gives New York room to press sports-event enforcement while the CFTC is still writing national rules.
The bill's next test is whether Senate leaders can turn committee momentum into floor time before the August work period.
Bitcoin has avoided a deeper break, but rising oil prices are reviving rate concerns that could pressure risk assets.
Glassnode says Bitcoin’s bottoming process needs long-term holder capitulation to cool, while the Fed minutes gave exhausted sellers fewer reasons to stop.
Bitcoin’s July recovery has given traders relief, but one of its strongest policy catalysts could fade if lawmakers miss the Aug. 7 window.
US electricity demand is heading for record highs by 2027, forcing Bitcoin miners to prove their power use can support the grid.
