Polymarket Prepares U.S. Relaunch as CME Group Plans 24/7 Crypto Futures and Options Trading in 2026

Avalanche Treasury Co. Seals $675M SPAC Deal to Form AVAX DAT, Targets $1B in Token Acquisitions

Avalanche Treasury Co. (AVAT) has entered a $675 million merger agreement with Mountain Lake Acquisition Corp., creating one of the largest crypto-related SPAC deals to date. The transaction includes $460 million in projected treasury assets and a $200 million discounted AVAX purchase allocation through the Avalanche Foundation. AVAT also secured an 18-month priority window for AVAX purchases by U.S. digital asset treasury firms.

Backers include major traditional and crypto-native investors such as Dragonfly, ParaFi, VanEck, Galaxy Digital, Pantera, CoinFund, and Kraken. FalconX will handle trading and credit services, and Monarq will manage parts of the portfolio. PJT Partners and Barclays are advising the company, with Skadden and Davis Polk as legal counsel.

Once approved, the new entity — AVAX DAT — plans to list on Nasdaq in early 2026 and deploy more than $1 billion into AVAX over time. The company will also invest in protocol development, enterprise partnerships, and validator infrastructure. AVAT will launch at a 0.77x mNAV entry point, allowing a 23% discount compared to buying AVAX directly.

Leadership includes CEO Bart Smith, COO Laine Litman, and CSO Budd White, with strategic involvement from Avalanche founder Emin Gün Sirer and other prominent advisors including Aave’s Stani Kulechov and Dragonfly’s Haseeb Qureshi. The venture aims to become a leading public vehicle for institutional AVAX exposure and active participation in the Avalanche ecosystem.

Polymarket Set to Relaunch in U.S. After $112M Acquisition and CFTC Clearance

Polymarket is preparing to return to the U.S. nearly four years after being sidelined by the CFTC. The platform acquired QCX LLC (now Polymarket US) for $112 million in July, gaining a Designated Contract Market (DCM) license. With that license, it can self-certify prediction markets and legally offer them to U.S. users. After receiving a no-action letter from the CFTC in early September resolving past reporting and recordkeeping issues, CEO Shayne Coplan said the company now has the green light to operate in the U.S.

Regulatory filings show Polymarket has already submitted certifications for sports and election-related contracts, which could go live as soon as October 2, 2025, unless the CFTC objects within one business day. The move is meant to compete directly with Kalshi, which has dominated the U.S. market thanks to its established DCM status.

Coplan also spoke this week on a joint SEC/CFTC panel alongside major industry players, signaling Polymarket’s effort to reposition itself within the regulated U.S. landscape.

CME Group Plans 24/7 Crypto Futures and Options Trading in 2026, Pending CFTC Review

CME Group plans to launch 24/7 trading for crypto futures and options starting in early 2026, pending regulatory approval. This would end current pauses on weekends, holidays, and after-hours. The move is driven by growing client demand to manage crypto market risk at all times, according to Tim McCourt, CME’s global head of equities, FX, and alternative products.

The U.S. Commodity Futures Trading Commission (CFTC) must review the change, but the agency is currently limited in operations due to the ongoing federal government shutdown. This may delay any approval until the shutdown ends.

CME CEO Terrence Duffy recently said that markets will soon require round-the-clock trading and that crypto is the fastest path to that shift. The CME’s notional open interest in Bitcoin and crypto derivatives stood at roughly $39 billion as of mid-September, compared to around $3.2 billion in global open interest tracked by CoinMarketCap.

Fitell Corporation Acquires 216.8M PUMP Tokens for $1.5M to Expand Digital Asset Treasury on Solana

Fitell Corporation (NASDAQ: FTEL) has purchased 216.8 million PUMP tokens, the native token of the Pump.fun launchpad on Solana, for $1.5 million, marking its first direct acquisition of PUMP. The move reflects Fitell’s strategy to expand its digital asset treasury and deepen involvement in the Solana ecosystem. CEO Sam Lu emphasized that the purchase aligns with the company’s goal of capturing long-term growth opportunities while diversifying its treasury. Fitell plans to provide regular updates on its digital asset holdings.

ECB Selects Tech Providers for Digital Euro Services, Launch Pending EU Regulation Approval

The European Central Bank (ECB) has selected technology providers to support core services for a potential digital euro, including fraud management, app development, offline payments, and secure information exchange. Companies chosen include Feedzai, Capgemini Deutschland, Almaviva, Fabrick, Giesecke+Devrient, EquensWorldline, Senacor FCS, Sapient GmbH, and Tremend Software Consulting. One additional offline service provider will be announced later.

The ECB emphasized that no payments are involved at this stage, and the project will proceed only after adoption of the EU Digital Euro Regulation and approval from the ECB Governing Council. The initiative is part of the EU’s plan to develop a central bank digital currency that could coexist with cash and improve payment efficiency, though a launch may not occur until the end of the decade.