Katten announced that the firm has represented Bitnomial Exchange in connection with the upcoming launch of the first listed leveraged spot cryptocurrency product in the United States. This industry-first offering marks a major step forward in the evolution of the U.S. digital asset market structure and highlights Bitnomial’s leadership in developing regulated pathways for crypto trading. Once launched, the product will broaden access to listed crypto markets for participants seeking exchange-traded exposure backed by centralized execution, clearing, and robust risk management.
The Katten team, led by Financial Markets Litigation and Enforcement Partner Matthew F. Kluchenek and Financial Markets and Funds Associate Alexander C. Kim, advised Bitnomial across a wide range of regulatory, operational, and market-structure issues associated with bringing a new leveraged spot crypto product to a U.S. Commodity Futures Trading Commission (CFTC)-regulated exchange. Their work supported Bitnomial in navigating the complexities of listing and clearing a novel offering in an emerging asset class.
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Kluchenek noted the significance of the collaboration, explaining that the team is proud to support Bitnomial in achieving this first-of-its-kind milestone. He also praised CFTC Acting Chairman Caroline Pham for her innovative leadership in helping make the launch possible. According to Kluchenek, the product’s design and underlying infrastructure demonstrate a sophisticated and regulatory-first approach to risk management in digital assets.
Katten’s work with Bitnomial follows the firm’s involvement in Bitnomial’s earlier milestone: the first launch of crypto perpetuals in the United States. These achievements underscore the firm’s leading role in financial services and digital asset regulation. Katten’s financial markets practice features a deep bench of attorneys, including industry pioneers, former regulators from agencies such as the CFTC, SEC, FINRA, and DOJ, as well as veterans of global investment banks bringing unmatched experience across financial products, markets, and enforcement landscapes.
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Since the earliest days of cryptocurrency trading, Katten has been at the forefront of the legal and regulatory developments shaping the digital asset sector. The firm is widely recognized as a thought leader, having authored the Chambers-published “Derivatives Global 2025” guide and earning recognition in categories such as Blockchain & Cryptocurrencies, Crypto-Asset Disputes, and derivatives across Chambers FinTech, Chambers Global, and Chambers USA. Katten’s holistic approach provides clients with comprehensive counsel spanning transactions, regulation, compliance, and enforcement.
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Katten is a full-service law firm with nearly 650 attorneys across the United States, London, and Shanghai. Serving public and private companies across numerous industries—as well as government and nonprofit organizations—the firm is known for delivering sophisticated, high-value legal services across corporate, financial markets, insolvency, intellectual property, litigation, real estate, structured finance, tax, private credit, and private wealth.
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