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According to CoinWorld, the full-stack on-chain exchange Flying Tulip has recently received additional institutional investment from Amber Group, Fasanara Digital, and Paper Ventures. Founder Andre Cronje stated that this reflects institutional investors’ continued focus on verifiable on-chain market structures. The platform is building a unified spot trading, derivatives, credit, stablecoin (ftUSD), and on-chain insurance market. Its core feature is on-chain redemption rights, namely the “Perpetual PUT” option, which allows eligible participants to burn $FT tokens and redeem up to the amount of their original principal from isolated on-chain reserves, thereby providing downside protection.

According to CoinWorld, New York City Mayor Zoran Mamdani announced that a budget shortfall of $12 billion is expected over the next two fiscal years, attributing the responsibility to former Mayor Eric Adams for his long-term underinvestment in basic public services. Adams, however, refuted this on social media, claiming he left behind more than $8 billion in reserves. This fiscal dispute stems from Adams' launch last month of the controversial "NYC" themed cryptocurrency, in which over 60% of the 4,300 traders suffered losses, with some losing more than $100,000.

Robinhood CEO Vlad Tenev met with U.S. government officials to discuss legislative issues related to the cryptocurrency market structure. (Watcher.Guru)