MSCI Boots Strategy, and Trump picks his next crypto regulatory referees

What happened: MSCI removed Michael Saylor's Strategy from its indexes, along with Metaplanet, a Solana treasury company, and Yellow Cake. Trump nominated a bipartisan slate of SEC and CFTC commissioners. Key numbers: Strategy fell about 7% on the news. JP Morgan estimated $2.8 billion in forced outflows, less than MSTR's daily volume. Bitcoin sold down as far as $67,000. Why it matters: Melker said the index removal does not require Strategy to sell any Bitcoin and is not the cause of the Bitcoin sell-off. He noted the CFTC had only one commissioner before the new nominations. Market: +0.5% today ($592.73), +19.3% YTD, 0.4x vol — as of 18:17 UTC

MSCI removed Michael Saylor's Strategy from its indexes, along with Metaplanet, a Solana treasury company, and Yellow Cake. Trump nominated a bipartisan slate of SEC and CFTC commissioners.

Melker said the index removal does not require Strategy to sell any Bitcoin and is not the cause of the Bitcoin sell-off. He noted the CFTC had only one commissioner before the new nominations. Market: +0.5% today ($592.73), +19.3% YTD, 0.4x vol — as of 18:17 UTC