The CFTC, the US regulator that oversees futures markets, has approved Coinbase to run its own clearing house. It is called Coinbase Clearing LLC, and The Block reported the approval overnight.

A clearing house sits between the two sides of every derivatives trade. If you buy a contract and the seller can't pay, the clearing house is the one that has to make you whole. To do that job it holds everyone's collateral and writes its own rulebook.

Earlier this month Coinbase asked the CFTC to approve single-stock perpetual futures, contracts with no expiry date. They were to trade around the clock on weekdays on Coinbase Derivatives and clear through Nodal Clear, an outside clearing house. According to The Block, the new approval lets Coinbase list, broker and clear fully collateralized products in-house. Listing puts a contract on the menu. Brokering takes your order. Clearing guarantees the trade. All three now sit under one owner. A clearing house registered with the CFTC answers to the regulator directly, which is what the approval is for.

Fully collateralized means traders put up the money to cover a contract's worst outcome before the trade starts. For the contracts Coinbase clears itself, Coinbase now holds that collateral and writes those rules.

The report doesn't say which contracts Coinbase Clearing will handle first, or when, and the approval for the clearing house is separate from the approval Coinbase asked for on the stock contracts. If you only buy and hold coins on Coinbase, nothing about your account changes today. If you use its derivatives, the company that takes your order and the company that guarantees it are now the same one. Read its rules before you put real money into them.

The 10-year Treasury yield settled at 5.241% on Monday, a 19-year high, up from 5.18% on Friday. Bitcoin is $83,301 this morning, down 1.4% in 24 hours and lower than any daily reading of the past week.

The level to watch is 5.303%, where the yield stood on June 12, 2007. A close above it would be the highest since May 2002.

Early in Trump's second term, his advisers argued that showing the bond market Washington was serious about deficits would bring long-term rates down without leaning on the Fed. The Wall Street Journal reports that the plan backfired. Inflation is rising and the Fed is raising rates. Tariffs, energy shocks and an investment boom are pushing yields up.

Bitcoin pays no interest, and a 10-year Treasury now pays more than it has at any time since 2007.

Bitget started letting customers withdraw again on Monday, beginning with bitcoin, after the $387.5 million theft from its hot wallets. Ether and USDT withdrawals are still paused. The exchange says it has patched the flaw and that its user protection fund will cover every loss. Chief executive Gracy Chen says Bitget will top the fund back above $300 million this week.

Chen also told The Block that the attacker sent two small test transfers about half an hour before taking the money, probing the exchange's risk controls first.

Chen put the loss near $350 million last Wednesday, so the final figure came in higher. Bitget is promising that no customer loses money, and that promise is only as good as a fund the exchange has to refill itself. If you keep coins on an exchange, the size of that fund is what stands between you and a loss.