drw

The founder and CEO of trading company DRW, Don Wilson, published an article raising several questions about the New York Stock Exchange's parent company's push to introduce the decentralized perpetual contract platform Hyperliquid to the U.S. market. He also expressed gratitude to CFTC Chairman Selig and the Trump administration for making such experiments possible and stated that only the market can determine whether an arrangement is useful.Don Wilson: What are the benefits of trading perpetual contracts on a regulated exchange in an on-chain manner? He believes the main advantage of on-chain trading is the reduction of friction in a trustless, identity-verification-free environment, or receiving the purchased assets in real-time through atomic transactions; however, perpetual contracts themselves are not assets, so the latter benefit does not apply.He also specifically mentioned Stan Druckenmiller, asking whether he is aware that positions and transactions on Hyperliquid can be tracked in real-time and whether he sees this as an advantage. Additionally, he noted that Hyperliquid's priority fee mechanism allows participants to pay to see information earlier or to move their orders ahead in the queue, and he inquired whether this aligns with CFTC core principles.Don Wilson further asked whether the liquidity of offshore order books can be merged with onshore order books; if not, whether listing perpetual contracts on regulated exchanges using traditional centralized order books is preferable to bearing the inefficiencies brought by on-chain matching.Previously, Intercontinental Exchange (ICE) and trade[XYZ] announced plans to deploy a perpetual contract market covering crypto assets, stocks, commodities, foreign exchange, and other physical assets for U.S. traders based on Hyperliquid infrastructure, pending regulatory approval, with ICE operating the regulated market and clearing framework.

According to The Defiant, trading firm DRW executed a total return swap with Marex on the Canton network through Derivnex, referencing the on-chain corporate bond benchmark from S&P Dow Jones Indices. S&P Dow Jones Indices announced this transaction with Kaiko on October 13.The swap was provided by Marex, with DRW as the counterparty, referencing the iBoxx USD Liquid Investment Grade Index, which tracks investment-grade corporate bonds that are dollar-denominated and have good liquidity. The swap provides both parties with exposure to the index without holding the underlying bonds. The transaction will synchronize events such as valuations during the contract's duration between both parties, and plans to migrate margin, collateral, and contract payments to the same infrastructure will be advanced in subsequent phases.Kaiko's tokens combine benchmark data with access permissions and usage rules, retaining the authorized control of S&P Dow Jones Indices, and distributing signed official index values for Derivnex to use for valuation. Derivnex expresses the transaction terms in the form of Canton smart contracts and introduces a universal domain model standard for derivatives trading. DRW founder and CEO Don Wilson stated that both parties can "work off the same record, thereby simplifying the process," and noted that once cash and collateral flows are integrated, more transactions are expected to achieve greater efficiency.

According to Arkham data, at 13:38, 38.9 BTC (worth approximately $2.5352 million) was transferred from an anonymous address (starting with 168Bv...) to Cumberland DRW. Subsequently, Cumberland DRW transferred 37.93 BTC to another anonymous address (starting with bc1qkg...).

According to Arkham data, at 07:39, 44.61 BTC (worth approximately $2.2383 million) was transferred from Cumberland DRW to an anonymous address (starting with bc1qkgt0e...).

According to Arkham data, at 08:24, 39.93 BTC (worth approximately 2.04 million USD) was transferred from Cumberland DRW to an anonymous address (starting with bc1qkgt...).

According to Arkham data, at 02:36, 89 BTC (worth approximately 6.06 million USD) was transferred from an anonymous address (starting with 168Bve...) to Cumberland DRW.

According to Arkham data, at 19:03, Cumberland DRW transferred 3.8 million USDC to BitGo.

According to Arkham data, at 04:50, 77.62 BTC (worth approximately 5.11 million USD) was transferred from multiple anonymous addresses to Cumberland DRW.

According to Arkham data, at 03:47, 1000 ETH (worth approximately 2.09 million USD) was transferred from Cumberland DRW to Arrington XRP Capital.

According to Arkham data, at 02:26, 1,073 BTC (worth approximately $71.61 million) was transferred from an anonymous address (starting with bc1qj8q8...) to Cumberland DRW.

According to Arkham data, at 17:19, 40 BTC (worth approximately $2.2284 million) were transferred from multiple anonymous addresses to Cumberland DRW.

According to Arkham data, at 13:20, 70 BTC (worth approximately 4.81 million USD) were transferred from an anonymous address (starting with bc1q8q62j...) to Cumberland DRW.

According to Arkham data, at 14:14, 35.99 BTC (worth approximately $2,519,700) was transferred from an anonymous address (starting with 168Bve...) to Cumberland DRW. Subsequently, Cumberland DRW transferred 35.55 BTC to another anonymous address (starting with bc1qkg...).

According to Arkham data, at 08:27, 36.81 BTC (worth approximately 2.03 million USD) was transferred from Cumberland DRW to an anonymous address (starting with bc1q2k6...).

According to Arkham data, at 03:48, 42 BTC (worth approximately $2.9775 million) were transferred from an anonymous address (starting with 168Bve...) to Cumberland DRW.

According to Arkham data, at 23:15, 50.83 BTC (worth approximately 3.6066 million USD) was transferred from NYDIG to Cumberland DRW.

According to Arkham data, at 22:12, 128.29 BTC (worth approximately 3.99 million USD) was transferred from NYDIG to Cumberland DRW.

According to Arkham data, at 02:25, 41.53 BTC (worth approximately 2.27 million USD) was transferred from an anonymous address (starting with 168Bveij...) to Cumberland DRW.

According to Arkham data, at 01:31, 29.6 BTC (worth approximately 2.07 million USD) was transferred from an anonymous address (starting with 168Bveij...) to Cumberland DRW.

According to Arkham data, at 22:33, 47.09 BTC (worth approximately 3.37 million USD) was transferred from Cumberland DRW to an anonymous address (starting with 1JaLcW...).