Tiger Research flags SEC tokenized-stock exemption as a liquidity fragmentation risk
The proposal could let third-party venues list tokenized equities without issuer approval, while the SEC’s final scope remains unresolved.
U.S. Securities and Exchange Commission and its impact on crypto.
The proposal could let third-party venues list tokenized equities without issuer approval, while the SEC’s final scope remains unresolved.
Kate Fraher disputed the AML narrative behind her 2024 settlement and blamed regulatory pressure for Silvergate’s wind-down.
Her planned move would leave the SEC with two commissioners as the CLARITY Act could shift crypto oversight toward a one-member CFTC.
Asset servicing jumped 201% to $8.3M while adjusted EBITDA fell to $800K and CEPT shares gained 5% on the day.
The note argues HYPE is being valued as “just perps” despite Hyperliquid’s multi-asset ambitions and non-crypto-linked volume.
The package would also scrap a $75M float test and lift the large accelerated filer bar to $2B with a two-year trigger.
The endowment also cut its IBIT stake by 43% as ETH pulled back toward the $2,000–$1,700 support zone.
The push comes with the CFTC down to one commissioner while Congress weighs expanding its spot crypto remit.
Both proposals target Nasdaq listings and keep staking out at launch as Canary updates its staked TRX ETF filing.
Filings as of March 31 reveal a split: sovereign exposure grew in bitcoin ETFs while one major endowment reduced risk across BTC and ETH sleeves.
The move lifted XRP about 5% in 24 hours, but the bill still faces multiple steps before becoming law.
The bank’s 13F also shows a near-exit from Galaxy Digital and a 125% jump in Strategy shares.
The filing details 9,542 BTC and 756.1M CRO holdings, with a large slice of bitcoin pledged to notes and tied to covered calls.
He pointed to a March joint interpretation and chair-led policy work, while stablecoin-yield text revived passage talk.
WTGXX reports $857.64M in assets and a 3.43% daily yield, with SEC-approved 24/7 trading for always-on liquidity.
The draft would drop the separate-entity requirement and adds conflict-of-interest and oversight expectations ahead of a May 20 deadline.
The exchange says millions of forms tied to sub-$1 activity show the reporting regime is capturing micro-transactions.
The regulator warned local promoters could face up to ₱5 million in fines and up to 21 years in prison.
A new report argues regulation should hinge on developers controlling assets or executing transactions, not writing software.
Dropped cases, ETF approvals, and a “most tokens not securities” notice cut near-term risk, but Congress still hasn’t set jurisdiction lines.