Bitget Faces Regulatory Heat in Australia Over Unlicensed 125x Leverage Crypto Futures

Australia's financial regulator, ASIC, has issued a formal warning to cryptocurrency exchange Bitget for offering unlicensed derivatives products with extreme 125:1 leverage. The exchange, while registered with AUSTRAC for basic operations, lacks the necessary Australian Financial Services license to provide such high-risk products. This move underscores the increasing regulatory scrutiny on crypto platforms offering leveraged trading options, particularly in jurisdictions with strict financial compliance requirements. The warning serves as a reminder of the growing tensions between innovative crypto products and traditional financial oversight frameworks.

Australian Regulator Warns Bitget Over Unlicensed 125x Leverage Crypto Futures

Australia's financial watchdog has issued a formal warning against Bitget, accusing the crypto exchange of offering unlicensed derivatives products with extreme 125:1 leverage. The platform operates without an Australian Financial Services license despite being registered with AUSTRAC for basic exchange operations.

ASIC's intervention highlights growing regulatory scrutiny of high-risk crypto products. The 125x leverage offering—among the most aggressive in retail markets—exposes traders to catastrophic losses from minor price movements. Bitget's mobile accessibility compounds concerns about consumer protection gaps.

The warning follows Bitget's recent expansion into tokenized equities, mirroring moves by Robinhood and Kraken. This dual push into complex derivatives and synthetic assets tests jurisdictional boundaries as regulators globally tighten oversight of Crypto Leverage products.

ONDO Price Eyes 60% Surge Amid Institutional Adoption and Technical Breakout Signals

ONDO's price action suggests a potential 60% rally if it clears the $1.20 resistance level. The token has rebounded from a July low of $0.95, maintaining support above key moving averages. A bullish crossover on the daily chart and an RSI reset to 61 indicate renewed momentum.

Institutional interest grows as 21Shares files for a spot ONDO ETF with the SEC. Network activity surges—daily addresses quadrupled this week—while Ondo Global Markets Alliance expands to over 25 members, including recent additions Zodia Custody and Bitget. The project strengthened its infrastructure through acquisitions of blockchain developer Strangelove and SEC-licensed Oasis Pro in July.

Technical analysis reveals a double bottom pattern with a $1.70 target. The July 22 breakout attempt faltered at $1.17 due to overbought conditions, but the 20-day EMA continues to provide dynamic support. Market structure remains constructive as Ondo outperforms major moving averages.