Bankless Founder: Lighter The Big Market is Back

David Hoffman, the founder of Bankless, retweeted the compliance updates of the perpetual contract trading platform Lighter on X, stating, "Lighter's big market is back." During the Lighter third-quarter investor conference call the previous night, Hoffman, as an investor, asked whether, given that Lighter has had extensive prior communication with the U.S. Commodity Futures Trading Commission, the approval for the Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) licenses is expected to be granted earlier than the stipulated 180-day review period.

Lighter's founder and CEO Vladimir Novakovski responded that extensive prior communication would make the process much smoother. He stated that the U.S. Commodity Futures Trading Commission currently has a lot on its plate, so he could not provide a specific timeline, but internally there is a fast-acting team, and the approval process is expected to go relatively smoothly. Previously, Hoffman had liquidated his ETH holdings and shifted to tokens like LIT, ZEC, and NEAR, which have all significantly outperformed ETH since then.