STORY: From Justin Sun suing World Liberty Financial to perpetual crypto futures... this is Crypto Weekly.
:: Sun takes Trump family's firm to court
Crypto entrepreneur Justin Sun sued World Liberty Financial, the digital currency venture co-founded by U.S. President Donald Trump and his sons.
He made a series of allegations, including how the crypto group illegally froze his holdings of tokens issued by the company.
Reuters calculates Sun's reported holdings of four billion tokens are now worth around $325 million.
World Liberty called Sun's legal claim "entirely meritless."
:: UK crackdown
Britain's Financial Conduct Authority swooped on eight London addresses suspected of illegal peer-to-peer crypto trading.
The FCA said it was its first such operation with other agencies.
Peer-to-peer traders who reject centralised exchanges have to be registered in Britain.
Authorities want to stop such traders from giving a route for criminals to move, disguise and spend money.
:: Chinese crypto tycoon eyes Hong Kong
Chinese crypto tycoon Li Lin plans to move a trading system and team from his family office to Hong Kong-listed Bitfire Group, where he is the largest shareholder.
It's an effort to tap into demand for digital assets among investors and institutions.
Crypto trading has been banned in mainland China since 2021, while Hong Kong is striving to become a virtual asset hub.
:: US perpetual futures
Global crypto exchanges are racing to capitalize on the U.S. Commodity Futures Trading Commission's expected move...
to allow trading in perpetual crypto futures.
It's a popular but risky derivatives product that has so far largely remained offshore.
Perpetual futures, commonly known as "perps," are a type of futures contract that doesn't have an expiration date.
It means investors can hold positions indefinitely rather than closing them out or rolling them over.
