Sphinx

A 24/7 exchange for U.S. power, natural gas and compute. Trade perpetual swaps and dated futures from a single account, with near-instant T+0 settlement.

[Sphinx @SphinxProtocol]

Have you gSphinx’d today?

[Sphinx @SphinxProtocol]

@RakaSiwi2100 Energy risk never sleeps, neither does Sphinx.

[Sphinx @SphinxProtocol]

@boombosouth013 It never ends…

[Sphinx @SphinxProtocol]

The “It’s so over”

To

The “We’re so back”

Pipeline is feeling very real this week.

[Sphinx @SphinxProtocol]

@asemuhdsani @Nitsua_D We never left! 💪

[Sphinx @SphinxProtocol]

@Unstoppablehum Nice

[Sphinx @SphinxProtocol]

@RakaSiwi2100 Great!

[Sphinx @SphinxProtocol]

@Nerton_Key Yes

[Sphinx @SphinxProtocol]

@WatcherGuru More.

[Sphinx @SphinxProtocol]

@asemuhdsani gSphinx

[Sphinx @SphinxProtocol]

gSphinx

bitcoin:native

[Sphinx @SphinxProtocol]

@GreenWicks_only 🐱

[Sphinx @SphinxProtocol]

@RakaSiwi2100 Always cooking

[Sphinx @SphinxProtocol]

@WatcherGuru

[Sphinx @SphinxProtocol]

@WatcherGuru

[Sphinx @SphinxProtocol]

Compute = Power power⚡️

Power = Compute 💻

[Sphinx @SphinxProtocol]

@RakaSiwi2100 @coinbase @krakenfx @RobinhoodApp @Gemini @Ripple @Nasdaq @NYSE Soon 👀

[Sphinx @SphinxProtocol]

The biggest market structure bill since Dodd-Frank is six Senate votes away. This afternoon the White House put the entire cap table of American markets on one stage to push it.

@coinbase , @krakenfx , @RobinhoodApp , @Gemini , @Ripple . @Nasdaq , ICE, the @NYSE . The chairs of the SEC and the CFTC in the same room. That guest list is the tell: the CLARITY Act is a market structure bill wearing a crypto costume.

Status, precisely, because the headlines blur it: the House passed it 294 to 134 last July, with 78 Democrats. One ethics provision held it up all summer. The Senate left for recess without a vote and takes it back up in September, roughly six Democratic votes short of sixty. The stablecoin bill was signed a year ago; this is the harder half. Nothing has passed yet.

What the bill actually decides is an address. Digital commodities go to the CFTC. Securities-like tokens stay with the SEC. Customer funds get bankruptcy protection, developers get safe harbors, and a jurisdictional tug-of-war that spent a decade in courtrooms gets settled in statute.

Congress has run this play before. Grain futures, 1936. The CFTC itself, 1974. The swaps market, hundreds of trillions notional, handed over by Dodd-Frank in 2010. When a market grows up, it gets sent to the commodity regulator, because the CEA chassis is the most adaptable rulebook American finance owns: registered venues, clearinghouses, core principles, self-certification.

The part I find most interesting: the agency about to inherit the asset class that never closes is the same one currently asking the public 67 questions about 24/7 trading and perpetual contracts. Those two facts are one story. The rulebook for always-on markets is being written this year, in statute and in comment files at the same time.

The fair caution: six votes are real, and one Senate amendment sends the whole thing back to the House. Bills die in reconciliation every year.
New markets are born wherever they like. They mature at the CFTC.

ethereum:0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48 ripple:native #Stablecoins #Trading

[Sphinx @SphinxProtocol]

@Nerton_Key @coinbase @krakenfx @RobinhoodApp @Gemini @Ripple @Nasdaq @NYSE ⚡️⚡️⚡️⚡️⚡️

[Sphinx @SphinxProtocol]

@GreenWicks_only @coinbase @krakenfx @RobinhoodApp @Gemini @Ripple @Nasdaq @NYSE 👍