CME Group said Terry Duffy will step down as chief executive and become executive chairman on March 1, with CFO Lynne Fitzpatrick set to succeed him. Separately, CME has sued the U.S. Commodity Futures Trading Commission after the regulator approved crypto perpetual contracts that had already generated more than $1 billion in trading volume. Duffy had said the no-expiry products should be regulated as swaps under the Dodd-Frank Act rather than futures. The dispute centers on the CFTC’s late-May approval of Kalshi’s Bitcoin perpetuals, later expanded to other cryptocurrencies, and underscores broader tensions over competition and regulatory oversight in U.S. crypto derivatives markets.