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Archived story · published November 9, 2026. Coverage reflects reporting at the time. See today's brief

Crypto · November 9, 2026

Trump administration's embrace of "perp" futures sets off risk alarms for Wall Street stalwarts

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Ethereum co-founder Vitalik Buterin recently advocated for ETH’s role as a store of value, even as Wall Street institutions utilize the blockchain for tokenized real-world assets (RWAs) like BlackRock’s BUIDL fund without necessarily holding ETH as collateral. Meanwhile, investment firms like Tom Lee’s Bitmine continue significant ETH acquisitions, targeting a 5% share of the circulating supply. Simultaneously, reports indicate the Trump administration is pushing to introduce 'perpetual' futures—currently common offshore—to U.S. markets, a move that has sparked concern among some Wall Street incumbents regarding market stability.

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Hype check

How the hype check works

Confirmed · 2

Backed by filings, on-chain data, official statements or several independent publishers.

  • Bitmine purchased 9,587 ETH last week. (The Block)
  • BlackRock’s BUIDL allows clients to post fund tokens as margin via OKX and Standard Chartered. (CryptoSlate)

Claimed · 2

Said by a company, project or person; not yet independently confirmed.

  • A tokenization and AI 'supercycle' is approaching. (Tom Lee)
  • ETH’s monetary properties deserve more attention than fee burn valuation. (Vitalik Buterin)

Speculation · 1

Price talk, forecasts or unnamed sources, quoted as someone else's view.

  • Perpetual futures could threaten market stability if brought to the US. (Four exchange executives)

Reported by only some outlets

  • Vitalik Buterin argued on November 8 for ETH's monetary properties while supporting EIP-1559's fee burn
  • BlackRock’s BUIDL fund allows eligible institutions to post yield-bearing tokens as collateral via Standard Chartered and OKX
  • Bitmine purchased 9,587 ETH last week to approach a 5% supply target
  • The Trump administration is seeking to bring offshore 'perpetual' futures to the U.S. market

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CadNews does not determine absolute truth or endorse political viewpoints. It compares publicly available reporting, identifies shared facts, highlights framing differences, and flags uncertainty.