ChainCatcher news, according to The Block, the crypto derivatives exchange Bitnomial announced the completion of a $25 million financing round led by Ripple Labs. At the same time, Bitnomial launched a perpetual futures trading platform called Botanical, which is currently in a closed testing phase.The Botanical platform will provide investors with perpetual futures, traditional futures, and options trading services. Bitnomial CEO Luke Hoersten stated that the company is boldly advancing its mission to provide users with a regulated and innovative trading experience through Botanical, offering an alternative to the currently widely used decentralized exchanges and VPN-based workarounds.Ripple CEO Brad Garlinghouse believes that Bitnomial's introduction of an offshore trading model into the U.S. derivatives industry presents a significant opportunity for establishing a compliant digital asset derivatives market (such as XRP). Bitnomial will utilize Ripple's RLUSD stablecoin for the settlement of perpetual futures.Previous news, Bitnomial filed a lawsuit against the U.S. Securities and Exchange Commission (SEC), questioning its regulatory authority over XRP futures contracts.

ChainCatcher news, according to FOX Business, the cryptocurrency derivatives exchange Bitnomial has sued the U.S. Securities and Exchange Commission (SEC), questioning its regulatory authority over XRP futures. After Bitnomial self-certified XRP dollar futures contracts, the SEC claimed that XRP is a security and demanded that the exchange comply with additional regulations.Bitnomial believes that XRP futures should not be classified as security futures and is seeking a court declaration to prevent the SEC from asserting jurisdiction over it. This lawsuit intensifies the battle between the SEC and the Commodity Futures Trading Commission (CFTC) over regulatory authority over crypto assets.

ChainCatcher news, according to CryptoSlate, Luxor Technology and Bitnomial launched the first fully regulated Bitcoin mining derivative "Bitcoin Hashrate Futures" in the United States on May 28.It is reported that the product trading code is HUP, allowing miners to hedge their income and providing investors with a new way to enter the Bitcoin mining market. Each contract represents 1 PH, with a duration of one month, and settlement is based on Luxor's Bitcoin Hashprice Index.

ChainCatcher News: The U.S. regulated digital asset derivatives exchange Bitnomial announced today that it has received a clearinghouse license granted by the U.S. Commodity Futures Trading Commission (CFTC). It is reported that the CFTC approved this license with a four-to-one vote during today's public meeting, making it the first and only crypto-native exchange to hold a full set of U.S. derivatives exchange, clearinghouse, and brokerage licenses. Bitnomial is also the only U.S. exchange that can offer margin-based, physically settled digital asset derivatives, allowing customers not only to receive cash payments at settlement but also to actually own the digital assets.