Crypto World
Top 100 London Stocks Are Coming to Crypto, But There’s a Catch
Payward will launch tokenized London stocks within weeks, covering the city’s 100 largest listed companies. Investors in more than 110 countries qualify, but UK residents do not.
The Kraken parent is working with the London Stock Exchange on the rollout. What goes live is a wrapper rather than a share, and the exchange’s own plans sit years out.
Tokenized London Stocks Arrive Without Shareholder Rights
Each xStock tracks one underlying share. The legal issuer is Backed Assets (JE) Limited, a Jersey company. Payward agreed to buy the business behind it in December.
Holders get price exposure, round-the-clock transfers, and use inside wallets or on-chain apps. However, they do not get a place on the share register.
Voting rights and delivery of the real stock stay with the traditional holder. The fine print of tokenized stocks rarely makes that obvious.
The other catch is scale. Those 100 companies are the FTSE 100, an index that LSEG’s own arm, FTSE Russell, values at $3.47 trillion. That was the end-of-July reading. What goes on-chain is a fraction of a fraction of it.
Every tokenized stock on every chain was worth roughly $2.5 billion on Tuesday, per RWA.xyz data. xStocks holds about $607 million of that, behind rival issuer Ondo Finance.
Payward cites $40 billion in cumulative xStocks volume. That number measures trading churn, not how much stock sits onchain.
The London Stock Exchange Part Is Still Years Away
LSEG announced LSE 24 in July as a 24/5 venue, not a continuous one. Testing starts by late 2026. Exchange-traded products to be listed in the first half of 2027, subject to approval.
Equities come after that. Tokenized London names have no confirmed date on the exchange itself.
“Tokenization has the potential to change how investors access, and how issuers use, financial markets, but it must develop in a way that preserves the trust, rights and role of regulated markets,” read an excerpt in the announcement, citing Julia Hoggett, chief executive of LSE plc, said.
Both firms will also study native LSE-issued tokens carrying full shareholder rights. Payward struck the same kind of deal with Nasdaq in March, and that design also targets 2027.
So the pattern is set. Blue chips go onchain as Jersey paper first, and the real shares wait, sold everywhere except London.
The post Top 100 London Stocks Are Coming to Crypto, But There’s a Catch appeared first on BeInCrypto.
Artificial intelligence could usher in a new wave of concern over financial privacy, according to a Grayscale research report. The firm’s Head of Research, Zach Pandl, expects AI to create new privacy threats and drive demand for new solutions.
He sees Zcash as one potential option.
Zcash For Blockchain Privacy
Public attention to financial privacy has historically increased alongside major technological changes. The first wave came in the 1970s, when computers enabled the digitization and automation of financial record-keeping. A second wave followed in the 1990s with the expansion of the Internet and growing concerns over online privacy.
Grayscale believes a third wave has now begun as AI becomes more widely used. Pandl said AI tools are likely to create new privacy challenges across the economy, and the issue is particularly pressing for public blockchains that are transparent by default.
For instance, on the Bitcoin network, every transaction is recorded on a public ledger and can be viewed by anyone. When blockchain activity is linked with off-chain information, user addresses could potentially be de-anonymized, a risk also noted in the Bitcoin white paper.
While that risk existed before AI, Grayscale said advances in the technology could make blockchain address labeling more effective and widely available, increasing the need for privacy protection. Unlike Bitcoin, Zcash offers additional privacy features through shielded transactions, which use zero-knowledge cryptography to conceal both the addresses involved in a transaction and the amount being transferred. Grayscale said this privacy feature could become a “must-have” for users who prioritize financial privacy.
Grayscale had made a similar point earlier, while noting that ZEC had surged about 20 times in the past year but was still worth less than 1% of Bitcoin’s market cap. The firm said Zcash’s privacy features and other advantages may not be fully reflected in its current valuation, which leaves room for further gains.
The comments come days after Grayscale converted its Zcash Trust, launched in 2017, into a spot ZEC ETF. The fund began trading on the NYSE Arca on August 25.
$1,800 Target
ZEC has posted a strong performance. The privacy-focused crypto asset gained nearly 80% over the past month alone. Following the sharp rally, ZEC is trading around $850, but crypto analyst Ali Martinez is betting on further upside.
He said that “Zcash is about to melt faces,” while identifying $1,800 as the “first stop.”
The post Zcash May Have a Bigger Role to Play as AI Threatens Financial Privacy: Grayscale appeared first on CryptoPotato.
Ripple has teamed up with digital asset infrastructure provider SettleMint to bring an end-to-end custody and token lifecycle stack to financial institutions in Asia-Pacific. The firms say the integration is designed to reduce operational complexity for banks and other regulated players that want to hold tokenized assets and manage them from issuance through ongoing administration.
Just days earlier, Coincheck Group announced a separate push in Japan toward institutional-grade custody and wallet technology, partnering with DFNS to deliver wallet-as-a-service capabilities. Together, the announcements highlight how Asia-Pacific institutions are trying to close the “infrastructure gap” that has slowed crypto adoption inside regulated finance.
Key takeaways
- Ripple and SettleMint will integrate Ripple Custody with SettleMint’s Digital Asset Lifecycle Platform to support custody, issuance, and management of tokenized assets.
- Coincheck Group’s Japan effort with DFNS focuses on wallet infrastructure and institutional-grade custody through a wallet-as-a-service model.
- Both partnerships target a persistent bottleneck: limited infrastructure that fits regulated financial workflows across the token lifecycle.
- Regulatory momentum in the region—particularly Japan’s evolving framework—adds urgency to custody and tokenization capabilities for institutions.
Ripple’s custody and token lifecycle integration
Ripple announced the partnership with SettleMint on Tuesday, framing it as a way to help financial institutions handle tokenized assets “across their full lifecycle.” According to Ripple’s announcement via PR Newswire, the collaboration will integrate Ripple’s institutional custody infrastructure, Ripple Custody, with SettleMint’s Digital Asset Lifecycle Platform (DALP).
The stated goal is straightforward: rather than stitching together multiple vendors and separate tools for custody and post-issuance operations, institutions can use an integrated approach that supports both securing assets and managing their lifecycle. Ripple’s coverage positions the combined stack as a less complex route for regulated firms that need robust custody controls while also participating in tokenized-asset issuance and administration.
Why this matters for investors and operators is that custody and lifecycle management are typically two of the hardest components to operationalize within traditional compliance requirements. If lifecycle tooling and governance controls can be packaged into a single institutional workflow, it can shorten deployment timelines for banks and asset managers that would otherwise face longer integration projects and higher operational risk.
Parallel momentum in Japan: Coincheck and DFNS
A day before Ripple’s announcement, Coincheck Group revealed its own initiative in Japan, partnering with wallet infrastructure provider DFNS to bring institutional-grade digital asset custody and wallet technology to the market. The development was reported in a Business Wire release.
DFNS’s wallet-as-a-service approach is designed to centralize operational management. The source describes it as supporting transaction lifecycle management, including workflow orchestration and governance controls, delivered under a single platform that supports more than 100 blockchain networks.
For institutions evaluating crypto infrastructure, that distinction—platform-level management rather than fragmented components—can be critical. Many regulated services require controls around approvals, governance policies, and operational workflows that extend beyond simple wallet access. A service positioned around “full transaction lifecycle management” suggests an attempt to meet those requirements more directly.
Infrastructure gap meets faster onchain growth in Asia-Pacific
Both partnerships arrive as Asia-Pacific continues to accelerate in crypto usage. According to Chainalysis’ 2025 Global Crypto Adoption Index, the Asia-Pacific region ranked as the fastest-growing area for onchain activity and saw a 69% year-over-year increase in value received.
While adoption growth alone does not guarantee institutional participation, it typically increases pressure on infrastructure providers to deliver enterprise capabilities that can handle real-world transaction volumes and compliance demands. The partnership announcements explicitly connect their work to an “infrastructure gap” that has hindered regulated financial institutions from entering digital asset activities.
In other words, the region is not just expanding in consumer and retail usage; it is building the case for institutional-grade custody, token issuance tooling, and governance-ready wallet and custody services that can operate under regulatory constraints.
Regulatory developments in Japan raise the stakes
Japan is central to the current wave of institutional infrastructure pushes. In July, the Japanese parliament passed revisions that classify crypto assets as financial assets under Japan’s Financial Instruments and Exchange Act, according to earlier coverage from Cointelegraph.
The regulatory direction matters because classification under financial rules generally changes how institutions think about onboarding, compliance, custody responsibilities, and product design. More clearly defined categories can help create predictable expectations for regulated market participants, but they can also require infrastructure upgrades to satisfy governance and custody standards.
Cointelegraph also reported that Japan’s Finance Minister Satsuki Katayama signaled an intent to bring crypto under the same umbrella as traditional finance assets in January. The stated aim was to ensure citizens can “benefit from digital and blockchain-based assets,” while keeping the framework aligned with established financial oversight.
Against this backdrop, the Ripple–SettleMint and Coincheck–DFNS announcements can be read as infrastructure groundwork for institutions trying to participate in a market where regulatory classification and operational expectations are becoming more formalized.
What to watch next
Investors and builders should watch how these partnerships translate into deployable institution-facing offerings—particularly around custody workflows, governance controls, and end-to-end token lifecycle operations. As Japan’s legal framework continues to take shape and as Asia-Pacific onchain activity grows, the competitive advantage is likely to accrue to providers that can integrate tokenization, custody, and compliance-ready operational tooling without forcing institutions into complex, multi-vendor builds.
Despite the rumors and fear-mongering, Quantum computers are still years away from threatening today’s financial systems. But the cost of preparing for them is already becoming real
In March, Google researchers estimated that a sufficiently advanced quantum computer could break widely used 256-bit elliptic-curve cryptography in minutes. This is the same level of cryptography used by crypto wallets, custody systems, blockchain signatures and much of the security infrastructure used by financial institutions.
Although Q-Day might not be tomorrow, governments have started planning. Because the risk is too great to ignore. The US is budgeting billions of dollars to move federal systems to new post-quantum standards, while NIST wants vulnerable algorithms phased out by 2035.
The transition is much harder for crypto. Assets worth billions can sit untouched for decades, old wallets may never be upgraded, and institutional custody systems were built around cryptography that quantum machines are expected to break.
BeInCrypto spoke with experts from BitGo, Nethermind and the cryptography community about what that migration will actually involve — and who will end up paying for it.
The Quantum Risk For Crypto’s Institutional Giants
All three of our interviewed experts agree on the same thing. Institutions need a complete record of where vulnerable cryptography is used, including signing systems, hardware, recovery procedures, authentication and long-lived keys.
Nigel Smart, who has a PHD in Computational Number Theory, describes this as a Cryptographic Bill of Materials.
“The post-quantum standards are already in place, as well as many production-ready implementations. What most organizations lack is the clear inventory, something called a Cryptographic Bill of Materials. Knowing where crypto is used in your organization, how keys are managed, and what algorithms are used.”
NIST similarly places discovery and prioritization near the beginning of the transition process.
For Akshay Thakur from BitGo, institutional custody introduces another critical requirement.
“Institutional custody runs on threshold signing; the key is never assembled in one place. NIST standardized for implementation simplicity, compactness, and conservatism. Thresholdability was not a standardized priority. Falcon, which Solana, Algorand and now TRON have all adopted, do not have viable threshold construction today. It’s an open research problem.”
NIST opened its first formal call for multi-party threshold schemes in January 2026, while research presented at its MPTS workshop found severe efficiency penalties for threshold signing with standard hash-based signatures.
Nitin Gaur from Nethermind, an engineering firm specializing in Blockchain Infrastructure, says the same issue extends across company systems.
“Cryptographic inventory across the estate: every use of RSA, ECC and Diffie-Hellman in TLS, JWT issuance, code signing, CA roots, API authentication, firmware. It is ten to fifteen per cent of programme cost and one hundred per cent of the critical path.”
Bigger Signatures, Bigger Costs
Post-quantum security comes with substantially larger keys and signatures. NIST’s ML-DSA-65 uses a 3,309-byte signature and a 1,952-byte public key, while commonly used elliptic-curve signatures are measured in tens of bytes. Some SLH-DSA variants reach tens of kilobytes.
On blockchains, more bytes mean greater bandwidth use, higher storage requirements and potentially higher fees.
For proof-of-stake networks, Nigel Smart also points to the difficulty of aggregating standardized post-quantum signatures efficiently.
“Post-quantum signatures can be substantially larger than today’s signatures, increasing bandwidth, storage, and verification overhead. In the blockchain space, we need signatures (for the consensus layer in proof-of-stake blockchains) which can be easily aggregated (which is currently non-trivial with standardized post-quantum signatures).
Thakur expects the user-facing cost to appear strongly at signing time, as larger payloads pass through multiparty protocols and add latency.
Hybrid periods, where classical and post-quantum signatures run together, can compound those costs further.
The Custody Issue
Institutional custody was built around elliptic-curve cryptography, with MPC, hardware security modules, recovery procedures and approval systems designed accordingly. Changing the signature therefore requires custodians to revalidate much of the control system around the key.
Gaur says MPC offers no quantum resistance by itself.
“MPC distributes the computation but does not change the algorithm: threshold ECDSA across five parties is still ECDSA. A quantum computer derives the private key from the public key alone, so it does not need to compromise any party and does not care how many there are. Every dollar spent distributing trust across signers buys exactly zero quantum resistance, and that is not well understood inside institutions that believe their custody is state of the art.”
Nigel Smart says some of the hardest systems to upgrade will be wallets, custody infrastructure and smart contracts already controlling assets.
Bitcoin shows why the clock matters. A June 2026 report estimated that around 1.7 million BTC still sit in early addresses where public keys are already exposed.
Many of those coins may never move, leaving them vulnerable if quantum computers become powerful enough before the network completes its migration.
Who Pays for the Migration?
Smart expects responsibility to be divided between protocol developers, custodians, service providers and asset owners, since each group controls a different part of the migration.
Gaur instead argues for a central budget with senior ownership.
“Centrally funded, CISO owned, CFO approved multi-year line, governed the way Y2K and LIBOR were. No business line will volunteer budget for a programme with no revenue and no customer asking, and funded that way it will not happen.”
Public blockchains are harder to govern because there is no single budget holder capable of forcing every participant to upgrade. A custodian can replace its own signing systems, yet it cannot compel dormant asset owners to move funds or impose consensus changes across an entire network.
Internet security shows that large migrations can still begin early. By April 2026, Cloudflare reported that more than two-thirds of human-generated TLS traffic reaching its network already used post-quantum protection.
An Unpriced Cost
Crypto still lacks a credible industry-wide estimate. Thakur outlined where the biggest costs are likely to fall.
“Most of the cost isn’t cryptography. It’s inventory and dependency mapping. It’s hardware that can’t be upgraded and has to be replaced. It’s running classical and post-quantum systems in parallel while you prove the new one preserves every control. It’s re-auditing and re-certifying. And there’s one category with no precedent in any previous cryptographic migration: paying on-chain transaction fees to move assets, at post-quantum signature sizes, on chains where those larger signatures have themselves pushed fees up.”
Nigel Smart commented on the timeline for such a migration.
“The transition is likely to take years rather than months, making early inventory, testing, and staged migration preferable to a last-minute upgrade. However, many governments and large companies have brought forward their timelines for transition quite aggressively over the last few months.”
The dates already give institutions enough to budget against. Ethereum is aiming for core post-quantum protections around 2029, while NIST’s transition timetable extends through 2035.
The uncertainty lies in when cryptographically relevant quantum hardware arrives, while procurement cycles, hardware replacement and custody redesign already operate on timelines measured in years.
The post The $7 Billion Race to Save Crypto From Quantum Computers appeared first on BeInCrypto.
The Monetary Authority of Singapore (MAS) is reconsidering its earlier restriction on stablecoins issued across multiple jurisdictions, proposing a route for some jointly issued tokens to qualify under its regulatory framework.
MAS opened a public consultation on Tuesday, covering legislative amendments to implement its stablecoin framework and additional policy proposals reflecting developments since 2023.
Under one proposal, stablecoins jointly issued by a Singapore issuer and a foreign issuer could be regulated under the framework and labeled “MAS-regulated stablecoins,” provided that the associated risks are sufficiently mitigated.
MAS is also considering recognizing a limited number of foreign-issued stablecoins regulated under comparable overseas frameworks, citing their potential use in cross-border wholesale transactions.
The proposals revisit MAS’s 2023 position that qualifying stablecoins must be issued solely in Singapore. The regulator finalized a framework that year covering single-currency stablecoins issued in Singapore and pegged to the Singapore dollar or a G10 currency.
At the time, MAS cited difficulties establishing regulatory equivalence and cooperation with other jurisdictions. It also noted technical challenges in tracing where commingled stablecoins originated and determining whether overseas reserves would be sufficient to meet redemption requests.
MAS proposes additional issuer safeguards
The broader consultation seeks to implement the 2023 stablecoin framework through amendments to the Payment Services Act (PSA), the primary law governing payment services and operators in Singapore.
The proposed requirements cover reserve-backed value stability, capital, redemption at par and issuer disclosures. Only issuers licensed under the framework would be permitted to market themselves as MAS-regulated stablecoin issuers and label their tokens “MAS-regulated stablecoins.”
Related: Japanese regulator requests tax filing exemption for trust-type stablecoins in 2027 reform
MAS also proposed prohibiting issuers from paying interest on regulated stablecoins and requiring them to conduct stress tests and maintain recovery and orderly wind-down plans.
Additional consumer safeguards would require issuers to protect customer money received before the corresponding stablecoins are issued. Stablecoins outside the dedicated framework would continue to be treated as digital payment tokens under existing rules.
MAS is accepting public comments on the proposals until Oct. 16.
Magazine: How Hong Kong is turning tokenized bonds into real market infrastructure
Bitcoin price has fallen below $77,000 as fresh U.S. military strikes on Iranian targets have pushed oil prices higher and triggered heavy selling across crypto and stock markets.
Summary
- Bitcoin price dropped to $76,762 after losing the $78,000 and $77,000 levels.
- Crypto traders suffered about $115 million in long liquidations within one hour.
- Brent settled at $94.65, while U.S. crude closed above $90 per barrel.
- U.S. strikes targeted Iranian positions after reported attacks near the Strait of Hormuz.
Bitcoin price falls below $77,000
The U.S. Central Command said American forces began striking Islamic Revolutionary Guard Corps targets in Iran at 12 p.m. ET on Tuesday, citing recent attempted attacks against commercial vessels in the Strait of Hormuz and U.S. military personnel stationed in the region.
Bitcoin (BTC) fell through $78,000 as reports of the operation emerged before extending its decline below $77,000. The cryptocurrency traded around $76,762 at the time of writing, after falling from an intraday high near $79,166.
Selling also reached Ethereum (ETH), which moved below $2,400 during the market decline. According to CoinGlass data cited in the original report, roughly $115 million in leveraged long positions across the crypto market were liquidated within one hour.
Liquidations occur when an exchange closes a leveraged position after the trader’s collateral can no longer cover mounting losses. A rapid price decline can therefore force the closure of long positions, adding more sell orders to an already weak market.
One day earlier, Bitcoin had held near $78,000 even as earlier exchanges between U.S. and Iranian forces pushed crude prices above $90. The latest round of strikes placed renewed pressure on that price area and erased the asset’s brief attempt to hold above short-term support.
The decline has also followed a strong August for Bitcoin. BTC gained about 23% during the month, according to market data cited in earlier coverage, before renewed geopolitical and interest-rate concerns weighed on the opening trading sessions of September.
US strikes increase pressure near the Strait of Hormuz
According to CENTCOM’s account, the operation followed alleged Iranian attempts to attack commercial shipping in the Strait of Hormuz and American service members deployed to the region.
Iranian state media reported explosions across several locations on the country’s southern coast, including Qeshm Island, Bandar Abbas and Chabahar. Reports cited by Axios also identified Jask, Konarak, Minab and Sirik among the areas struck.
Qeshm Island and Bandar Abbas sit close to the Strait of Hormuz, a key passage connecting Persian Gulf energy exporters with international markets. Before the current conflict, roughly one-fifth of global oil and liquefied natural gas supplies moved through the waterway, according to Reuters data previously cited in market coverage.
The Associated Press reported that Tuesday’s action ended roughly a month without direct military exchanges between the two countries. Earlier U.S. strikes on Sunday targeted rocket launchers on Larak Island, after which Iran launched missiles toward American sites in Jordan. Jordanian forces intercepted the missiles, while the United Arab Emirates said it stopped an Iranian drone over its waters.
Following Tuesday’s strikes, Iranian semi-official news agencies Fars and Tasnim reported that Tehran had started launching missiles and drones in response. An IRGC spokesperson said the United States “will regret its new attacks,” according to Fars.
President Donald Trump described the American operation as “large and powerful” and warned Tehran against further retaliation. According to Trump, another Iranian response would lead to a “much harder and higher level” of U.S. attack.
Iranian President Masoud Pezeshkian had said earlier on Tuesday that Tehran was prepared to return to a ceasefire agreement brokered with Washington in June if the United States followed its terms. Trump later questioned the value of another agreement during comments reported by the Associated Press.
Oil above $90 adds inflation and rate pressure
Crude prices accelerated as military activity returned to areas around the Strait of Hormuz. Reuters reported that Brent crude settled 4.6% higher at $94.65 per barrel, while U.S. West Texas Intermediate rose 5.2% to $90.22.
Oil traders were also monitoring reports that two tankers had been hit while leaving the strait. Iranian officials have warned that Gulf oil exports could face additional disruption if military and economic pressure on Tehran continues.
Earlier exchanges between Washington and Tehran had already exposed the sensitivity of financial markets to oil supply risks. In July, a warning of further U.S. strikes coincided with a $500 billion stock selloff as crude prices rose and Bitcoin came under pressure.
Higher energy prices matter to U.S. crypto investors because a sustained rise in fuel costs can feed into inflation data and influence Federal Reserve policy. U.S. Treasury yields rose during Tuesday’s trading, while the S&P 500 fell to its lowest level since Aug. 4, according to market data cited in the original report.
August inflation data and the Federal Reserve’s September policy decision could therefore affect Bitcoin’s next move. In August, Bitcoin rebounded after CPI data showed annual U.S. inflation at 3.4%, but oil supply disruptions could place fresh pressure on subsequent readings.
Federal Reserve Chair Kevin Warsh has maintained a firm position on inflation and left open the possibility of higher interest rates. Rising Treasury yields can increase the appeal of interest-bearing assets while raising financing costs, conditions that have previously weighed on Bitcoin and other assets that do not produce yield.
US markets fall as leveraged crypto positions unwind
Pressure from the military escalation has not remained confined to digital assets. U.S. equities declined as investors assessed the effect of higher oil prices, while the selloff in government bonds pushed Treasury yields upward.
Bitcoin’s fall below $77,000 placed the asset close to the lower end of the price range it had established after its August rally. The intraday low near $76,483 left the $76,500 area as an immediate level being tested by sellers, based on market pricing during the session.
A sustained break below that region would remove another support area that previously slowed declines. Any recovery would first require Bitcoin to regain $77,000, followed by the former support zone between $78,000 and $79,000.
Liquidation data offer another measure of the pressure facing leveraged traders. CoinGlass attributed the one-hour liquidation total of roughly $115 million mainly to long positions, indicating that traders positioned for higher prices absorbed most of the forced closures during the drop.
Meanwhile, Iran’s response remained active late Tuesday, with Fars and Tasnim reporting new missile and drone launches after the U.S. operation. American officials said the initial strikes were directed at Iranian radar and military capabilities associated with threats to commercial vessels and U.S. personnel.
The London Stock Exchange (LSE) and cryptocurrency exchange Kraken are reportedly launching tokenized stock trading on the stock market operator’s new night-time trading venue.
The LSE has partnered with Kraken’s parent company, Payward, to launch access to tokenized stocks tracking the value of leading UK equity products starting in 2027, Payward’s chief commercial officer, Mark Greenberg, told the Financial Times according to a Tuesday report.
The tokenized stocks will be listed on LSE’s new night-time trading venue, LSE 24, that will offer 24/5 trading, operating from Mondays to Fridays, the company announced on July 21.
The initiative makes the London bourse the latest traditional exchange operator to explore blockchain-based stock offerings that can be traded 24 hours a day with fractional ownership. Other traditional finance (TradFi) institutions exploring tokenized equity products include the Nasdaq, CME Group and the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE).
In August, Nasdaq agreed to acquire LeveL Markets, the third-largest alternative trading system in the US by trading volume, as part of its push into tokenized markets with round-the-clock trading.
Related: Trump Jr.-linked 1789 Capital leads Polymarket’s $1B raise: Report
TradFi companies deepen tokenization push
Some of the world’s largest TradFi institutions have been exploring tokenized stock offerings.
In March, Nasdaq, the world’s second-largest stock exchange by market capitalization, partnered with Payward and its Backed subsidiary, the issuer behind xStocks, to develop an equities transformation gateway. The plan builds on Nasdaq’s tokenization proposal filed with US securities regulators in September 2025.
A week earlier, ICE invested in crypto exchange OKX to bring NYSE-listed tokenized stocks to the exchange starting from the second quarter of 2026.
In April, Deutsche Börse invested $200 million in Payward, as part of the German exchange operator’s plans to offer access to a wider array of blockchain-based securities and tokenized investment products and build on its prior partnership with Kraken.
In January, CME Group, the largest derivatives exchange by volume, announced plans to launch crypto futures contracts tied to Cardano (ADA), Chainlink LINK and Stellar (XLM). Three months later, CME announced plans to add Avalanche AVAX and Sui SUI futures contracts starting May 4, subject to regulatory approval.
Tokenized stocks, total value onchain, all-time chart. Source: RWA.xyz
The value of tokenized stocks increased by 15% in the past 30 days to $2.53 billion, while the number of tokenized equity holders grew by 153% to 2.45 million, according to data provider RWA.xyz.
Magazine: What NYSE’s exploration of onchain systems means for financial markets
An affiliate of Fairshake, one of the best-known political networks tied to the U.S. crypto industry, is spending on media ahead of Tuesday’s Massachusetts primary as part of a broader push into the 2026 election cycle. According to Federal Election Commission (FEC) filings, Protect Progress PAC—linked to Fairshake—has targeted messaging to support Representative Jake Auchincloss in his bid for reelection.
The spending and accompanying accusations are also renewing scrutiny of how crypto-aligned political groups are engaging with candidates in races that are not directly about crypto policy—while highlighting the political pressure points around legislation affecting digital assets.
Key takeaways
- FEC records show Protect Progress PAC spent just over $189,000 on media supporting Jake Auchincloss in Massachusetts’ 4th congressional district primary.
- Democratic candidate Jason Poulos alleges some of the mailers were “AI-generated slop mailers,” raising questions about messaging tactics in the race.
- Poulos asked Auchincloss to renounce the PAC’s efforts in an Aug. 16 letter, intensifying public conflict around outside influence.
- Auchincloss’ crypto-policy profile is part of the dispute, with Poulos citing Auchincloss’ voting record on a 2025 digital-asset market structure bill.
- Fairshake and affiliates remain active in 2026, with the PAC reporting substantial cash reserves ahead of fall elections.
FEC filings detail Protect Progress PAC media spending in Massachusetts
Federal Election Commission documents filed as of Tuesday indicate that Protect Progress PAC, a Fairshake affiliate, spent just over $189,000 on media in connection with Representative Jake Auchincloss’ reelection campaign in Massachusetts’ 4th congressional district.
The primary is scheduled for Tuesday, and the media buy is notable because it reflects how crypto-linked political entities continue to participate in contests where candidates may be evaluated through broader political narratives rather than directly on digital-asset policy.
Poulos accuses outside groups of AI-generated messaging
Jason Poulos, a Democratic candidate challenging Auchincloss, argues that at least part of the PAC-supported messaging was not produced in a traditional format. In a public letter dated Aug. 16, Poulos called on Auchincloss to “publicly renounce” Protect Progress’ efforts to influence both the primary and the general election.
Poulos specifically claimed some of the mailers were “AI-generated slop mailers” supporting Auchincloss ahead of the Massachusetts primary. While the FEC spending records establish the existence of the media expenditure, Poulos’ characterization focuses on the alleged nature of the materials—an accusation that highlights the rising political controversy around technology-assisted campaign content.
Crypto-policy voting record becomes part of the political argument
In his Aug. 16 letter, Poulos also raised a link between the political support and Auchincloss’ relationship to crypto industry priorities. The candidate alleged Auchincloss had received $77,500 directly from “crypto-industry sources” since 2020.
Poulos further pointed to Auchincloss’ voting behavior on the Digital Asset Market Clarity Act in July 2025, describing it as a market-structure bill. As framed by Poulos, that measure was not signed into law at the time and was still awaiting Senate consideration.
For investors and builders following the policy landscape, the practical significance is that crypto-aligned political groups appear to be tying campaign support—directly or indirectly—to candidates’ positions on digital-asset regulation and market structure. Whether those policy positions translate into legislative outcomes remains a key question, but political reinforcement can influence candidate incentives ahead of legislative votes.
Fairshake affiliates push into 2026 elections with sizable resources
The Protect Progress spending is part of a larger pattern of engagement by Fairshake and related groups in the 2026 midterm cycle. Earlier this year and in recent reporting, Fairshake affiliates have deployed resources across multiple congressional races.
In August, Cointelegraph reported that the PAC and its affiliates spent about $3.6 million on House and Senate races in Alaska, Florida, and Wyoming during August. At the same time, Fairshake reported having $122 million in cash on hand ahead of the 2026 midterms.
Fairshake spokesperson Geoff Vetter stated in August that the organization was “not slowing down heading into November,” adding that there were “dozens of wins” across House and Senate races and that it had $122 million ready for the fall.
Massachusetts, with its primary on Tuesday, is among the later states to hold primaries, leaving limited time for further campaign developments ahead of the general election. Other states scheduled to hold primaries in September include New Hampshire, Rhode Island, and Delaware.
For readers trying to assess how crypto politics are evolving, the Massachusetts spending shows that the cycle is not limited to a small number of early contests. Instead, crypto-linked political capital appears to be extending across the calendar, with media buys and message discipline playing a prominent role.
What to watch next in the Massachusetts primary
With FEC data confirming Protect Progress PAC’s media spending and Poulos pressing Auchincloss to reject outside influence publicly, the key uncertainty now is how Auchincloss and party leaders respond to the allegations and whether the primary’s outcome changes the tone of future attacks about crypto-linked political spending. The next data point to track will be additional reporting and filings clarifying the content and spending breakdowns associated with the media campaign tied to the Fairshake affiliate.
Broadcom stock reports third-quarter results after Wednesday’s close and has climbed 4% from last week’s low to $370.34.
Wall Street rates it a Strong Buy, with 25 buy ratings, three holds, and no sells, despite a major money flow warning.
Broadcom shares still sit 23% below the record they set on June 2, up 7% this year, compared with 63% for the PHLX Semiconductor Index.
What Wall Street Expects From the Stock
This is the season’s last big AI print, after 36 analysts backed Nvidia into its own results.
Analysts expect $29.241 billion of revenue and $3.215 in adjusted earnings.
One number undercuts the rest. In June, Broadcom told investors in its own second-quarter filing that it would make about $29.4 billion this quarter. Analysts are forecasting slightly less than the company promised.
That is the weak signal. Broadcom has beaten its own numbers eight quarters in a row, so analysts would normally forecast above the guide. This time they sit below it.
The growth explains why. Almost all of it now comes from AI chips, which earn Broadcom far less than its software business does.
AI will account for $16 billion of this quarter’s sales, 54% of the total, up from 49% last quarter, including OpenAI’s first custom processor.
Broadcom told investors it will still earn 67 cents of profit on every dollar of sales, the same as last quarter, while revenue jumps 84%. The company is getting much bigger without getting any more profitable.
Even beating has not helped before. TipRanks data shows AVGO stock topping estimates every quarter since 2024 yet falling the next day four times, with an average move of 10.53% and a spread from a 13.01% fall to a 22.71% gain.
The reason sits in the ownership data.
Why Money Is Leaving AVGO Stock
TipRanks scores blogger sentiment at 83% bullish and news sentiment at 0.89 out of one. Yet its best-performing investors cut Broadcom exposure 2.37% over 30 days and 3.06% in the last seven. The selling is speeding up.
This is not only a Broadcom story. Chaikin Money Flow, a proxy for whether institutional money is entering or leaving a stock, is negative on 10 of 14 major chip names.
The four still positive sit outside AI compute. The five worst all build AI accelerators, the same rotation that pulled smart money out of Nvidia, in a year when Wall Street kept choosing between chip names.
AVGO stock sits last among those 14, at -0.225.
Broadcom Stock Price Levels to Watch
Broadcom shares have fallen inside a descending channel since June 3. Buying volume only improved on August 27.
Confirmation needs a daily close above $376.28, then $398.34 to come close to leaving the channel. One widely followed chart account says Broadcom needs a bigger bounce to match Nvidia and TSMC.
Failure is faster. Losing $356.62 opens $344.46, and a break of $334.62 exposes $324.79.
Analyst’s View: Broadcom stock is showing mixed trends heading into Wednesday’s earnings. Almost every analysts call this a bullish stock, but the biggest shareholders are slowly selling. The chart has not picked a side either. That is why the reaction to the earnings could matter more than the numbers.
The post 28 Analysts Share Their Broadcom Stock Forecast Before Q3 Earnings appeared first on BeInCrypto.
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Crypto World
Aster and World Liberty Financial Launch USD1 RWA Boost: Phase 1, Offering 125M $WLFI + 6.25M USD1 in Rewards
[PRESS RELEASE – George Town, British Virgin Islands, September 1st, 2026]
Aster, the privacy-first onchain trading platform backed by YZi Labs, today announced the kickoff of USD1 RWA Boost: Phase 1 with World Liberty Financial (WLFI), featuring 125,000,000 $WLFI and 6,250,000 USD1 in rewards.
The campaign builds on AOS-2, Aster’s earlier expansion of its Aster Open Standards (AOS) framework from spot markets to perpetuals.
Leonard, CEO at Aster, said: “AOS-2 is turning Aster from a decentralized perp exchange into an open infrastructure layer where anyone can launch and operate their own perpetual markets on top of Aster Chain. The first USD1 RWA perpetuals show that model is already working.”
AOS-2: A Published Standard for Perpetual Listings
AOS-2 is Aster’s standardized, onchain framework for initiating perpetual market listings, enabling projects to propose new markets through a transparent and automated process.
Applicants stake 1 million $ASTER, locked for four years with no early exit, before the proposal goes to an onchain validator vote. If approved, Aster’s risk team configures the market and the perpetual can go live as early as T+1; if rejected, the stake is returned in full.
Listing access runs on published onchain rules, while leverage and other trading parameters stay under Aster’s risk controls, letting Aster bring new markets to traders faster without giving up risk management.
USD1 RWA Boost Phase 1: 125M $WLFI + 6.25M USD1 in Rewards
The campaign runs from August 31 through December 31, 2026, covering SPCX/USD1, CL/USD1, XAU/USD1, SNDK/USD1, SKHYNIX/USD1, and MU/USD1.
Users earn Trading Points through taker volume on eligible USD1 pairs, which determine their share of the USD1 reward pool, while Open Interest (OI) Points are earned by holding eligible positions and determine their share of the $WLFI reward pool. Traders using Single Asset Mode with USD1 as collateral receive a 2x boost on OI Points. Rewards are calculated across weekly epochs and distributed the following week.
“When real-world assets trade onchain, the settlement asset matters as much as the market itself. Perpetuals on gold, energy, and equities, all denominated in USD1, give traders one dollar instrument across every one of these markets, and that is what stablecoins were built to do. We are supporting these markets because this is where onchain market structure is heading, and Phase 1 is only the start,” said Zach Witkoff, Co-Founder and CEO at World Liberty Financial.
Building the Frontier of Onchain Trading
AOS-2 gives Aster a repeatable, onchain path for bringing new markets to the platform, and the first USD1 RWA perpetual listings show that path is already at work. Paired with the ecosystem support from Aster and WLFI, the launch turns a new listing framework into real trading activity from day one.
As more real-world and crypto-native assets move onchain, Aster aims to become a leading venue for bringing new asset markets onchain. The map gets bigger from here.
About Aster
Aster is a privacy-first onchain trading platform backed by YZi Labs, with unique features like Hidden Orders to protect user trading activity. It pioneers the frontier of on-chain trading through perpetual futures, spots, and earn products for top-trending assets, including RWAs, memes, and core crypto markets. It is powered by Aster Chain, a Layer 1 blockchain built to power the future of decentralized finance.
Users can learn more about Aster on the official website or follow Aster on X.
*Disclaimer: Eligible pairs, reward parameters, and campaign rules are subject to change during the campaign. Please refer to the official campaign page for the latest eligible pair list and campaign details. Trading cryptocurrencies and leveraged products involves significant risk and may result in the loss of capital. This announcement is for informational purposes only and does not constitute investment or financial advice.
The post Aster and World Liberty Financial Launch USD1 RWA Boost: Phase 1, Offering 125M $WLFI + 6.25M USD1 in Rewards appeared first on CryptoPotato.
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