The CFTC argued in a lawsuit that the Commodity Exchange Act gave it "exclusive jurisdiction" over all swaps, which include prediction markets.

Coinbase’s conditional OCC approval moves it closer to operating as a federally regulated crypto custodian, pending compliance and final review.

The move comes in response to a wave of phishing attacks using fake copyright emails and is the latest in an attempt to shut down crypto-linked scams on the platform.

The exploit did not involve a bug in Drift's code. It used "durable nonces," a legitimate Solana transaction feature, to pre-sign administrative transfers weeks before executing them, bypassing the protocol's