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The CFTC of the United States rebuts the lawsuit qualification of CME: stating that it has not reasonably explained how the perpetual contract policy caused financial harm

The U.S. Commodity Futures Trading Commission (CFTC) stated in its latest court filing that CME only claims increased competition without reasonably explaining the existence of imminent financial harm, which is insufficient to qualify for a lawsuit challenging its perpetual contract policy. The CFTC pointed out that after the policy adjustment, CME's cryptocurrency futures trading volume has actually increased.In May of this year, the CFTC approved Kalshi's first Bitcoin perpetual contract and stated that it would regulate such products on a case-by-case basis under futures regulations. CME, on the other hand, believes that perpetual contracts do not have an expiration date and should be classified as swaps rather than futures, subject to a different regulatory framework. Last month, the CFTC requested a federal judge to dismiss the case, and this filing further elaborated on its rebuttal to CME's standing in the lawsuit.The CFTC also noted that CME had previously informed investors that it had not heard customer demand for perpetual contracts, and that such products could not replace its existing futures, and that it should not take different positions in court and during earnings calls. TD Cowen policy analyst Jaret Seiberg believes that CME may still have the upper hand regarding its standing in the lawsuit and the argument that the products should be classified as swaps. However, he is concerned that if the perpetual contract market continues to grow during the litigation, it may become more complicated to dismantle this market if CME wins.

first_img After the release of GPT-6 Astra, users complained that it became less intelligent, and OpenAI has not yet responded

According to a report by Decrypt, OpenAI's latest flagship model GPT-6 Astra has seen a surge of user complaints on the X platform about its performance "getting dumber" just a week after its release. An anonymous developer, synthwavedd, posted that "Astra feels noticeably dumber today," joking that it was a "post-release lobotomy." Previously praising the model, developer Pranjal Paliwal stated after reviewing the code Astra wrote for him: "We don't have AGI; what we're encountering is a performance regression."Developer Pankaj Kumar listed the symptoms: faster responses with poorer quality, and he suspects OpenAI has lowered the "juice value" (the computational power invested by the model before answering). Salio and researcher Md Ismail Sojal compared Astra on the release day with the current version using the same prompts, both yielding worse results. T3Chat founder Theo believes Astra is simply less stable than Claude Fable, with users beginning to showcase poor results after the honeymoon period ended. There are also opinions pointing out that OpenAI's previous flagship GPT-5.6 Sol experienced a similar cycle in July, when OpenAI executive Tibo Sottiaux denied intentionally weakening the model but admitted the company had been experimenting with "reasoning effort" settings.OpenAI has not released a statement regarding Astra similar to that of Sol.
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