Crypto platform Blockchain.com has added 173 tokenized stocks and exchange-traded funds through a partnership with Ondo Finance, bringing its catalog of tokenized traditional assets to more than 430 offerings across Ethereum, Solana and BNB Chain.

According to an announcement on Wednesday, the new listings include tokenized exposure to private company shares, active exchange-traded funds, Treasury products and covered-call strategies, with Blockchain.com highlighting SpaceX’s SPCX token among the additions.

The expansion also adds themed baskets tied to AI infrastructure, energy, robotics, autonomous vehicles and quantum computing, alongside income-focused products from Global X and other issuers.

A recent proposal by the US Securities and Exchange Commission to scrap two rules in its national market system regulations has been described by Galaxy head of research Alex Thorn as “one of the biggest unlocks yet for tokenized stocks” as it would remove “one of the biggest structural barriers to tokenized US equities trading in DeFi.”

Blockchain.com said the assets are available immediately through Ondo’s routing and liquidity infrastructure, which supports trading across all 173 new listings at launch.

Ondo is one of the largest tokenization platforms by asset value, with roughly $3.8 billion in distributed assets across 267 tokenized products, according to RWA.xyz data.

Source: RWA.xyz

The launch comes a week after Blockchain.com introduced a SpaceX-linked perpetual contract for institutional clients, expanding its push into tokenized and traditional financial markets.

Related: Tokenization could push DeFi assets to $2.7T by 2030: Standard Chartered

Onchain stocks building momentum

The tokenized equities market has grown rapidly this year. RWA.xyz data shows tokenized equities hold roughly $1.57 billion in distributed value, up nearly fivefold from about $330 million a year ago.

The market includes tokenized shares of public companies, exchange-traded funds (ETFs) and private firms. Among the largest tokenized equity assets by value are Strategy, Circle, Nvidia and Exodus shares.

Source: RWA.xyz

Competition has been intensifing as crypto exchanges and wallet providers race to offer onchain access to traditional financial assets. Earlier this month, Exodus launched a marketplace for more than 200 tokenized stocks, ETFs and other real-world assets through a separate partnership with Ondo Finance.

Several crypto platforms also introduced products tied to SpaceX’s IPO, ranging from tokenized IPO access and pre-IPO contracts to perpetual futures linked to the company’s shares. Binance said its SpaceX tokenized IPO offering attracted more than $557 million in USDC deposits from users seeking exposure to the listing.

However, the SpaceX IPO also highlighted some of the sector’s challenges. Several exchanges, including Binance, Bybit, Bitget Wallet and MEXC, were forced to cancel tokenized SpaceX offerings and issue refunds after failing to secure share allocations. Many of those products relied on Kraken-owned xStocks for distribution and settlement infrastructure.

The IPO was reportedly nearly four times oversubscribed, attracting more than $250 billion in investor demand for a $75 billion offering, according to Reuters.

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A Florida man known in crypto circles as “Bitcoin Rodney” has pleaded guilty to participating in a large fraudulent crypto scheme tied to HyperFund, according to the U.S. Department of Justice. Rodney Burton entered the plea in federal court in connection with an alleged conspiracy to operate an unlicensed money-transmitting business used to promote the platform.

Prosecutors said Burton helped provide unlicensed money-transmitting services to advance HyperFund, described as a global wire-fraud operation that affected thousands of investors. The U.S. Attorney’s Office for the District of Maryland said the guilty plea was announced by U.S. Attorney Kelly O. Hayes, along with agents from the Washington Internal Revenue Service Criminal Investigation unit and Homeland Security Investigations, New York.

Key takeaways

• Rodney “Bitcoin Rodney” Burton pleaded guilty to conspiracy involving an unlicensed money-transmitting business connected to HyperFund.
• Prosecutors allege HyperFund promised investors daily returns while purportedly lacking the mining revenue used to justify payouts.
• Burton is accused of promoting the scheme using investor funds to enrich himself between June 2020 and January 2022.
• HyperFund’s collapse in November 2022 followed multiple rebrands, including a DeFi ecosystem relaunch as HyperFund.
• Burton faces up to five years in federal prison; sentencing is scheduled for July 23.

Guilty plea tied to unlicensed money transmission

In the government’s account, Burton conspired to provide money-transmitting services without the required authorization, which prosecutors framed as a mechanism used to facilitate HyperFund’s broader fraud. The statement from the U.S. Attorney’s Office for the District of Maryland emphasizes that Burton’s role was not limited to marketing—federal prosecutors describe his conduct as part of the infrastructure used to support the operation.

According to the DOJ announcement, Burton promoted HyperFund and used investor funds during the period from June 2020 to January 2022. Prosecutors also stated that Burton controlled multiple companies that were represented as consulting-related entities, and that he personally received at least $7.8 million in proceeds from the scheme.

The case adds another layer to the government’s ongoing focus on fraud networks that use financial rails—especially those operating without appropriate licensing or oversight. While crypto fraud prosecutions often center on misrepresentations to investors, this matter also targets how money moved through the scheme.

HyperFund’s claimed returns and alleged fake mining revenue

Prosecutors said HyperFund falsely promised investors daily passive returns ranging from 0.5% to 1%. Federal authorities alleged that the platform claimed those payouts came from cryptocurrency-mining revenue, even though prosecutors said the underlying revenue source did not exist as represented.

That mismatch—high-frequency returns supported by alleged income that investors could not verify—has been a common feature of many crypto investment scams. In this case, the government’s filing ties those promises to a broader wire-fraud scheme, with Burton’s activities presented as assisting the operation.

The DOJ described HyperFund as one of the largest crypto fraud schemes, indicating that it impacted thousands of investors. Earlier coverage by Cointelegraph has also grouped similar large collapses into the “Ponzi-style” category, including OneCoin (reported to have taken over $4 billion) and BitConnect (estimated to have caused more than $2 billion in investor losses), though those comparisons are drawn from the wider historical pattern of fraud.

How HyperFund evolved—and why the timeline matters

HyperFund did not appear in the market as a single static product. Prosecutors said HyperCapital launched in January 2022 as a DeFi ecosystem and was later relaunched six months afterward as HyperFund. After additional rebrands, federal authorities said the scheme collapsed in November 2022.

For investors and compliance professionals, rebranding can matter because it can signal an attempt to reset reputational risk, change marketing language, or adjust the narrative as scrutiny increases. In HyperFund’s case, the government’s timeline suggests the operation continued through multiple iterations until it ultimately unraveled.

Earlier in the case, federal prosecutors in Maryland announced charges in January 2024 against two other individuals connected to the alleged scheme. The DOJ announcement said the defendants were Sam Lee, an alleged co-founder, and Brenda Chunga.

Other defendants and sentencing outlook

According to the U.S. Attorney’s Office for the District of Maryland, Lee, a 35-year-old Australian, and Chunga of Maryland were charged with conspiracy to commit securities fraud and wire fraud. Prosecutors said Chunga’s sentencing has been delayed multiple times and is currently scheduled for June 29. Lee, according to the DOJ statement, had not been found guilty at the time of the announcement.

Burton, meanwhile, faces a maximum sentence of five years in federal prison for conspiracy to operate an unlicensed money transmitting business. The government states sentencing is scheduled for July 23, following Burton’s guilty plea.

For readers watching crypto enforcement, the case underscores that authorities are pursuing not only the “front-facing” marketing of fraudulent platforms but also the financial and corporate mechanisms they used to operate. As proceedings continue against other alleged participants, the details of how funds were moved—and how the promised returns were financed—may further clarify the alleged mechanics of HyperFund.

Next, investigators and prosecutors will likely focus on how the scheme’s money flows worked in practice and whether additional participants or entities remain tied to the operation—points that could become clearer as Burton’s sentencing approaches and related court proceedings move forward.

CoinMENA has signed a banking agreement with Standard Chartered to strengthen fiat payment infrastructure for users in the United Arab Emirates. 

The CoinMENA release said the exchange will use Standard Chartered’s banking capabilities for fiat on-ramps, off-ramps, safeguarded client money accounts and virtual account-based transaction management.

The deal gives CoinMENA more structured banking support as regulated crypto firms seek smoother access to local currency flows. The company said the setup is designed to support faster funding, more efficient settlement and better transaction transparency for customers and approved counterparties.

Italy-based fintech Conio has received authorization to operate as a crypto-asset service provider under the European Union’s MiCAR framework, becoming one of the firms to secure approval before stricter licensing requirements take full effect across the bloc.

Conio said the authorization was granted following a regulatory review involving Italy’s market watchdog Consob and the Bank of Italy. The licence permits the company to provide digital asset custody, transfer, and placement services under the EU’s crypto regulatory regime.

The company said it plans to serve retail investors, financial institutions, banks, and fintech firms. Conio also intends to offer white-label services and support organizations pursuing tokenization initiatives and digital asset management projects.

Chief Executive Officer Christian Miccoli said the authorization strengthens Conio’s efforts to act as a partner for institutions that want to incorporate digital assets into regulated investment offerings. He added that the company will continue participating in blockchain and tokenization projects.

“Obtaining MiCAR authorization in Italy is an important milestone that confirms the strength of our approach and our commitment to offering innovative, secure and fully compliant services,” a translated statement from Conio read.

The company added that the licence strengthens its role as a partner for retail clients, banks, and institutions operating in Italy’s regulated digital asset market.

“With the end of the transition period approaching on June 30, 2026, obtaining MiCAR authorization is becoming an essential requirement for operating in Europe.”

Approval arrives before EU licensing deadline

The authorization comes as crypto companies across Europe race to comply with MiCAR before the end of the transition period. Under EU rules, firms that do not obtain the required authorization by July 1, 2026, may no longer provide covered crypto services to customers in the bloc.

The European Securities and Markets Authority has previously stated that firms operating without a MiCAR licence after the deadline would be in breach of EU law. The regulator also said providers that fail to secure authorization should prepare wind-down plans and help customers move assets to authorized providers or self-custody wallets.

Legal firm Hogan Lovells said Europe had more than 3,000 virtual asset service providers in 2024 but only 194 authorized crypto-asset service providers, including credit institutions, by May 2026. The firm estimated that about 75% of the pre-MiCAR provider base could lose registration status as national transition periods expire.

Conio’s approval also positions the company to benefit from MiCAR’s passporting system, which allows licensed firms to expand services across the European Union after completing the required notification procedures.

From retail crypto wallets to institutional services

Conio has previously focused on crypto custody and wallet services for retail users. In July 2024, the company partnered with fintech infrastructure provider Mesh to connect its wallet platform with major cryptocurrency exchanges, including Coinbase and Binance.

At the time, Conio said more than 430,000 customers used its services in Italy. The company, which counts Poste Italiane and Banca Generali among its backers, said the partnership aimed to give users greater control over how they store digital assets outside centralized exchanges.

A 56-year-old Florida resident has pleaded guilty in federal court to conspiracy to operate an unlicensed money-transmitting business in connection with a $1.8 billion fraudulent crypto platform.

According to a statement from the United States Attorney’s Office for the District of Maryland, Rodney “Bitcoin Rodney” Burton conspired to provide unlicensed money transmitting services to promote HyperFund, a global wire-fraud scheme.

Kelly O. Hayes, US Attorney for the District of Maryland and agents from the Washington Internal Revenue Service Criminal Investigation unit and Homeland Security Investigations, New York, announced Burton’s guilty plea on Wednesday.

HyperFund is one of the largest crypto fraud schemes, which impacted thousands of investors worldwide. It compares to some of the bigger Ponzi-style collapses in the space, such as OneCoin, which took over $4 billion, and BitConnect, which is estimated to have caused over $2 billion in investor losses.

Prosecutors said HyperFund falsely promised investors daily passive returns of 0.5% to 1%, claiming the payouts came from crypto-mining revenue it didn’t actually have.

According to the plea agreement, from June 2020 to January 2022, Burton promoted HyperFund and used investors’ funds to enrich himself.  

Related: Law enforcement freezes $41M connected to $150M crypto Ponzi collapse

Burton also controlled several companies that purported to offer consulting services and personally received at least $7.8 million in proceeds from the operation, according to the announcement. 

Burton faces five years

In January 2024, federal prosecutors in Maryland announced charges against two other individuals for orchestrating the scheme. Co-conspirators Sam Lee, a 35-year-old Australian, and Brenda Chunga from Maryland, faced charges of conspiracy to commit securities fraud and wire fraud.

Chunga’s sentencing has been delayed multiple times and is now scheduled for June 29, while Lee, the alleged co-founder of HyperFund, has not been found guilty of anything.

HyperCapital was launched in January 2022 as a DeFi ecosystem, which was relaunched six months later as HyperFund. After several rebrands, the scheme collapsed in November 2022.

Burton faces a maximum sentence of five years in federal prison for conspiracy to operate an unlicensed money transmitting business, and sentencing is scheduled for July 23.

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The move marks a notable reversal from the start of the year, when the curve was steepening, a sign markets were pricing in rate cuts, which were then cited as a tailwind for risk assets including cryptocurrencies. That tailwind now looks like it’s fading.

Here’s why the curve matters

Bonds serve as one of the channels through which monetary and fiscal policies are transmitted into markets and the economy. Hence, shifts in the bond market curve or spreads are often clearer and more reliable signals of impending policy changes than individual analyst commentary.

The two-year yield moves closely with expectations for near-term Fed policy, while the 10-year yield reflects where markets see growth and inflation over the longer haul.

Under normal conditions, the curve (the spread between the two) slopes upward as investors demand extra compensation, or a premium, to lock up their money for longer periods, pushing the 10-year yield above the two-year yield.

When that gap narrows, it usually means one of two things: investors are pricing in higher interest rates for longer, which keeps the two-year yield elevated, or they’re growing more pessimistic about long-term growth, which pulls the 10-year yield down.

Right now, the move looks like the former, especially in the wake of Wednesday’s Fed decision, in which the central bank held interest rates unchanged, but the broader messaging leaned hawkish.

Jack Dorsey’s Block has launched Builderbot, a new AI-native software tool built to support engineering work across the company.

In a Block announcement, the company said the tool now handles about 15% of all production code changes.

Builderbot runs more than 200,000 operations per day and merges about 1,500 pull requests each week, according to Block. Brad Axen, Block’s head of AI capabilities, said the tool is “the missing layer between AI coding tools and how engineering actually works at scale.”

AI tool works across Block’s codebase

Block said Builderbot is not a standard coding assistant that works in one repository. It acts as an orchestration layer that coordinates several AI agents across the company’s codebase. It can work with services, APIs, internal rules, and system patterns across Block.

The tool works inside Slack. Engineers can tag Builderbot, describe the task, and let the system create a branch, write code, open a pull request, watch continuous integration, and respond to feedback. Block said the tool only works with source code and system configuration. It does not access customer data, payment data, or personal information.

Dorsey’s AI shift gets clearer

The rollout gives more detail on Block’s wider use of AI across its business. The company said 100% of its engineers now use AI regularly in their work. It also said Builderbot lets engineers make changes in parts of the company’s systems they have not worked on before.

As previously reported by crypto.news, Block’s workforce cuts reduced headcount by more than 4,000 jobs as Dorsey said the company was restructuring around AI and smaller teams. At the time, Dorsey said intelligence tools were helping Block work in a new way.

AI coding moves beyond assistants

Builderbot shows how AI coding tools are moving from suggestions to production work. The system does not just generate code snippets. It follows tickets, edits files, opens pull requests, and helps move software toward release while humans review direction and judgment.

Block said some work that once took months can now take days. Axen said engineers on Square used Builderbot to ship seller-facing features that had been waiting for months. He said Builderbot handled scaffolding and repeated work, while engineers made product decisions.

Crypto and fintech firms test AI agents

Block is not alone in pushing AI deeper into financial technology. According to an earlier crypto.news report, Coinbase’s AI advisor lets users interact with portfolio tools through natural language commands. That report also noted that AI agents can connect to Coinbase and follow user-approved trading rules.

crypto.news previously reported that AI expansion has become part of the strategy for several crypto-linked companies. The Builderbot rollout adds a different example. It shows AI being used inside engineering teams, not only in user-facing products.

The key question is how companies keep quality, review standards, and security in place as AI agents touch more code. Block said humans still guide the process and focus on decisions that shape the product. Builderbot handles the lower-level work that slows development.