Second Lap: CFTC’s Crypto Sprint Continues!

The CFTC launched its second “crypto sprint” to gather feedback on regulating spot crypto trading.

Author

Danielle du Toit
August 22, 2025

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Here's what we've got for you today:

  • CFTC Launches Second ‘Crypto Sprint’ to Advance White House Push

  • Ripple Partners with SBI to Roll Out RLUSD Stablecoin in Japan by Q1 2026

  • Kanye West YZY Sniper Wallet Linked to $21M LIBRA Extraction Scheme: Analysts

  • VERB Technology Invests $713M Into Toncoin Treasury

🏃‍♀️ CFTC Launches Second ‘Crypto Sprint’ to Advance White House Push

As part of its second crypto sprint, the CFTC is seeking public input on how it can more effectively regulate spot crypto trading.

  • The CFTC launched its second “crypto sprint,” focusing on public engagement to gather feedback on regulating spot crypto trading, particularly leveraged and margined retail activity.

  • Acting Chair Caroline Pham said the feedback will guide how the regulator approaches oversight of spot crypto markets on CFTC-registered exchanges. Submissions are open until Oct. 20.

  • This follows the first crypto sprint, which explored allowing spot crypto asset contracts on CFTC-registered futures exchanges, shortly after the Trump White House released a 166-page crypto policy report.

Ripple announced that it plans to distribute RLUSD in Japan in partnership with SBI Holdings. 

  • Ripple is partnering with Japan’s SBI Holdings to launch its Ripple USD (RLUSD) stablecoin in Japan by Q1 2026, with distribution handled by SBI VC Trade.

  • SBI VC Trade CEO Tomohiko Kondo said that RLUSD will boost reliability and convenience in Japan’s stablecoin market while also expanding the available options.

  • RLUSD was first launched in December of 2024, and is fully backed 1:1 by US dollar deposits, short-term government bonds, and other cash equivalents.

On-chain sleuths found YZY sniper wallets tied to LIBRA extracted $23 million in suspected insider gains.

  • Analyst Dethective linked a wallet that sniped Kanye West’s YZY token to wallets behind the LIBRA token, suggesting the same operator exploited both launches.

  • The YZY wallet bought $250,000 worth of tokens at $0.20, flipped them for over $1 million in profit within minutes, and moved the funds into a treasury wallet.

  • That treasury wallet also received funds from LIBRA-related wallets, which extracted $21 million, bringing the total haul from both launches to nearly $23 million, later funneled through Kamino and Binance.

💰️ VERB Technology Invests $713M Into Toncoin Treasury

VERB Technology Company committed heavily to Toncoin by accumulating $713 million worth of the token.

  • VERB Technology revealed it accumulated about $713 million in Toncoin (TON) and $67 million in cash reserves, pushing its total assets above $780 million.

  • The company raised most of this capital through a $558 million private placement in August, which drove its share price up more than 200%.

  • VERB aims to capture 5% of TON’s circulating supply, or around 128 million coins, using corporate debt, equity issuance, and staking.

👀 QUICK NEWS

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