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TLDR Former CFTC Chairman Chris Giancarlo said banks need the Clarity Act more than crypto firms. Giancarlo stated that crypto companies can move offshore and continue building their platforms. He explained that banks cannot relocate abroad and must operate under US regulations. Giancarlo said banks need clear digital asset rules to stay competitive in the sector. The stablecoin reward dispute has delayed progress on the Clarity Act in the Senate. Former CFTC Chairman Chris Giancarlo said banks need the Clarity Act more than crypto companies. He made the statement during a recent appearance on the Paul Barron podcast. He argued that banks face limits that crypto firms do not face. JUST IN: Former CFTC chair @giancarloMKTS "Banks need the #CLARITY act MORE than the crypto industry does." https://t.co/8HCncMEZgC pic.twitter.com/QbzmAUHJdO — ChartNerd (@ChartNerdTA) April 2, 2026 Giancarlo said crypto companies can relocate and continue operations without d...

TLDR The CFTC and the Department of Justice filed a lawsuit against Illinois over its action against prediction markets. Federal regulators argue that the Commodity Exchange Act gives the CFTC exclusive authority over event contracts. Illinois sent cease-and-desist letters to platforms including Kalshi, Robinhood, and Crypto.com in 2025. The CFTC claims that event contracts qualify as federally regulated derivatives rather than state-regulated gambling products. The complaint names Governor J.B. Pritzker, Attorney General Kwame Raoul, and the Illinois Gaming Board as defendants. The U.S. Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) have sued Illinois over its action against prediction markets. The federal agencies filed the complaint in the Northern District of Illinois on April 2. They argue that Illinois violated federal law by sending cease-and-desist letters to several platforms. Federal Complaint Challenges State Authority Over CFTC an...

Key Takeaways President Trump’s recent address indicated the Iran conflict may continue longer than Wall Street anticipated, triggering airline stock declines. Aviation fuel prices have skyrocketed approximately 70% since the commencement of the U.S. and Israel-led conflict with Iran. Southwest Airlines (LUV) and United Airlines (UAL) ranked among the S&P 500’s biggest losers. TD Cowen slashed price projections for multiple airline carriers, pointing to persistent fuel expenses and weakening travel demand. United’s price target was reduced to $120 from $140, while Southwest’s dropped to $46 from $56, though both retained Buy ratings from TD Cowen. Airline sector equities experienced significant downward pressure Thursday following President Trump’s commentary on the Iran situation, which eliminated market expectations for a rapid conclusion. Investors had anticipated a prompt end to hostilities — along with the accompanying decrease in fuel expenses. Those expectations qu...

Key Highlights Microsoft unveiled three proprietary AI models: MAI-Transcribe-1, MAI-Voice-1, and MAI-Image-2, now accessible via Microsoft Foundry. MAI-Transcribe-1 achieves superior accuracy across 25 languages, surpassing OpenAI’s Whisper and Google Gemini Flash in benchmark testing. A renegotiated OpenAI agreement from late 2025 now permits Microsoft to develop frontier AI models independently. Development teams of under 10 engineers built each model, utilizing approximately 50% fewer GPU resources than competitors. Mustafa Suleiman, Microsoft AI CEO, announced intentions to create a frontier large language model, pursuing complete AI autonomy. Microsoft executed its boldest move yet in the AI race on Wednesday, unveiling three proprietary models that position the tech giant as a direct rival to OpenAI, Google, and emerging AI companies. Microsoft Corporation, MSFT The newly released trio — MAI-Transcribe-1, MAI-Voice-1, and MAI-Image-2 — can now be accessed through ...

Key Highlights March 2026 saw Tesla’s China production deliver 85,670 units, representing an 8.7% year-over-year increase The Shanghai manufacturing facility has now recorded five months in a row of sales expansion Q1 2026 deliveries surged 23.5% compared to the prior year, a significant acceleration from Q4’s modest 1.9% gain Strengthening European market demand played a significant role in the sales boost Analysts project Tesla’s worldwide Q1 deliveries will bounce back approximately 10% following last year’s decline Tesla (TSLA) stock was trading up 2.56% during the session. Tesla, Inc., TSLA The electric vehicle manufacturer’s Shanghai production facility delivered another strong performance in March, with combined Model 3 and Model Y deliveries increasing 8.7% compared to the same period last year. The 85,670 vehicle total encompasses both Chinese domestic sales and shipments to European markets along with other international destinations. $TSLA China-made EV sa...

TLDR: GMX has facilitated over $363 billion in notional volume across eight chains, now adding MegaETH. MegaETH processes up to 100,000 transactions per second with 10-millisecond block confirmation times. Chainlink’s oracle infrastructure has enabled over $28 trillion in total transaction value across DeFi. MegaETH’s Chainlink integration unlocks nearly $14 billion in assets for over 740,000 GMX traders. GMX has launched perpetual markets on MegaETH, combining Chainlink Data Streams with the blockchain’s 10-millisecond block times. The deployment brings real-time trade execution to one of DeFi’s most active perpetual exchanges. With over $363 billion in notional volume, GMX continues expanding its multichain presence. This move aims to close the performance gap between decentralized and centralized trading platforms. GMX Brings Real-Time Perpetual Trading to MegaETH GMX’s integration with MegaETH marks a notable step in onchain derivatives trading. MegaETH processes ...