The CFTC has asked a court to dismiss CME's lawsuit over crypto perpetual contracts, according to Hyperliquid Policy Center CEO Jake Chervinsky. The regulator argued that CME lacks standing, including on the basis that CME could also offer perpetual contracts itself, making any alleged harm self-inflicted. Chervinsky cited the CFTC's filing as describing the case as "nothing more than a mountain out of a molehill." The development marks the regulator's formal push to end the dispute at an early stage.