Aptos Gets Washington Voice; Fibonacci Targets Suggest $6.20 If Bulls Seize Momentum - Crypto News Flash

• Aptos CEO Ching’s appointment signals the CFTC’s intent to incorporate blockchain expertise into its evolving regulatory framework.
• Bitwise’s filing for an Aptos-linked ETF highlights rising institutional interest in the Layer 1 blockchain, which already supports three USD-pegged stablecoins.

Aptos Foundation finds its route to Washington with company CEO and co-founder Avery Ching recently grabbing a seat at the Commodity Futures Trading Commission’s Digital Asset Markets Subcommittee.

The CFTC’s Global Markets Advisory Committee has some of the industry heavyweights from the financial world, including representatives from financial giants BlackRock, Goldman Sachs, and Citadel. Additionally, the panel also includes crypto leaders like Rebecca Rettig of Polygon Labs and Christopher Perkins of CoinFund.

Aptos announced that its own representative, Ching, will bring the builder’s perspective to a policy landscape still dominated by legal and financial incumbents. His appointment signals the CFTC’s growing interest in engaging technologists with deep blockchain expertise.

Aptos CEO At CFTC Could Be Beneficial for Crypto Industry

The joining of Aptos CEO Avery Ching to the CFTC’s Digital Asset Markets Subcommittee comes at a critical juncture for crypto regulation. While the SEC continues its aggressive enforcement strategy, the CFTC has adopted a more measured approach, particularly regarding assets like Bitcoin (BTC) and Ethereum (ETH).

Ching’s expertise as a blockchain technologist adds a valuable perspective to the commodities regulator’s evolving oversight framework. Moreover, Ching brings a unique background, distinct from the typical finance-focused appointees.

As a co-founder of Aptos and a former principal engineer at Meta’s Diem project (formerly Libra), he has successfully navigated through the rough phase of crypto regulatory market, dealing with both the technical and regulatory challenges of developing blockchain infrastructure and launching a global stablecoin. Thus, Ching could leverage his strong experience for the Wyoming Stable Token Commission (WSTC), which announced that Aptos, alongside Solana, has emerged as a leading contender for powering the WYST stablecoin network.

Now advising the CFTC, Ching joins a roster that includes Nasdaq’s Tony Sio and Franklin Templeton’s Sandy Kaul. His role aims to bridge the divide between blockchain innovators and traditional financial institutions.

APT Price Upside Likely Ahead Amid Bitwise’s Aptos ETF Filing

Aptos (APT) price is currently trading at $4.68, with more than 7% weekly gains, with daily trading volumes soaring to $175 million. Aptos (APT) is holding firm at the $4 mark, showing signs of building momentum for a potential breakout toward $8, noted crypto analyst Crypto Spaces. Market observers have noted a steady increase in trading volume, signaling growing investor interest in the token.

Bitwise’s revised application for an ETF linked to Aptos reflects increasing institutional interest, even as the SEC postpones rulings on broader crypto ETFs. Aptos’s ecosystem, which currently supports three USD-pegged stablecoins, is likely drawing regulatory scrutiny amidst ongoing discussions around stablecoin oversight.