Charles Schwab has announced plans to offer spot BTC & ETH trading soon, with a hefty fee, as part of a phased rollout under the “Schwab Crypto” brand. The move comes as Tether commits $127M to Drift while Circle is under a lawsuit over failing to freeze its storage facility. The firm also plans to launch prediction markets at some point, with CEO Rick Wurster stating that the firm has $11.8 trillion in client assets and 16,000 financial advisors, making it a direct competitor to platforms like Coinbase and Robinhood for retail crypto access. Meanwhile, the CFTC Chair Mike Selig faced pushback from both sides over his aggressive court defense of prediction markets jurisdiction and the inability to regulate Hyperliquid’s offshore perp trading. The offshore perpetual futures exchange has been pulling volume away from regulated US venues with no CFTC oversight.