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Bitcoin Price Prediction: What’s Next After CLARITY Act Delay and Rate Hike?

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Bitcoin price trades at $76,600, surprisingly gain 1.1% on the day, a bounce that masks a brutal prediction based on regulatory optimism. The bigger question isn’t the daily candle. It’s whether BTC can hold this range as Washington and the Fed both deliver bad news in the same 48 hours.

The Digital Asset Market CLARITY Act failed a critical cloture vote in the Senate on September 15, coming in at 50-49, a few votes short of the 60 needed to advance. Reuters flagged a more than 5% intraday drop in Bitcoin as the vote outcome became clear, the sharpest single-day move since June.

A day later, the Federal Reserve hiked rates 25 basis points to 3.75%-4.00%, its first increase in three years. But, instead of dropping Bitcoin run.

Two headwinds, one week. Rate hikes historically punish non-yielding assets like Bitcoin, and a stalled regulatory framework removes a catalyst that traders had been quietly pricing in since the summer.

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Bitcoin Price Prediction: Can BTC Hit $80,000 This Week?

BTC is changing hands near $76,600, with 24-hour volume running around $30.5 billion across major venues. That’s healthy turnover for a market absorbing two macro shocks in 48 hours, suggesting sellers haven’t fully capitulated.

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The low-$70,000s remain the level to watch. That’s where the CLARITY Act sell-off found buyers, and a break below would confirm the bearish thesis. Resistance sits in the upper-$70,000s to $80,000, a zone where prior rallies have stalled repeatedly this cycle.

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Bull case: a revived CLARITY Act push or dovish Fed commentary triggers a reclaim of $80,000. Base case: continued chop between $72,000 and $78,000 as the market waits for clarity on both fronts. Bear case: a break below $72,000 opens room toward the mid-$60,000s. Fed commentary in coming weeks will likely decide which path plays out.

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Bitcoin Hyper Targets Early Mover Upside as Bitcoin Tests Key Levels

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A choppy BTC range with regulatory delay hanging overhead isn’t exactly a green light for chasing spot at these levels. Anyone who bought the July rally is underwater on sentiment, even if the chart hasn’t fully broken. That’s pushing capital toward earlier-stage plays where the entry price hasn’t already priced in a decade of institutional adoption.

Bitcoin Hyper ($HYPER) is positioning itself as the first Bitcoin Layer 2 with full SVM integration, smart contract execution built for speed that reportedly outpaces Solana itself while settling back to Bitcoin’s base layer.

The presale has raised $33 million at a current token price of $0.0136863, with staking rewards live at launch. Core features include a decentralized canonical bridge for BTC transfers and low-latency transaction processing aimed at solving Bitcoin’s long-standing programmability gap.

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Traders looking for asymmetric upside outside the BTC chop can research Bitcoin Hyper directly.

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1win Adds Provably Fair Technology to Its Crypto Games

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[PRESS RELEASE – Willemstad, Curacao, September 17th, 2026]

1win, a leading crypto casino and betting platform, is introducing Provably Fair technology that lets crypto players independently verify game fairness. The technology becomes available on Coin Flip and Dice on September 17, 2026, and will expand to more of 1win’s crypto games in the coming months.

Provably Fair is a cryptographic system widely used in crypto-native gaming. Its core principle is simple. Before a round begins, the platform commits to the data used to determine the result. This commitment is cryptographically secured, as the server automatically records the original game input after a player places a bet. This digital fingerprint can later be used to verify that the results have not been manipulated.

With the introduction of Probably Fair technology, 1win commits to a fundamental principle of crypto-native entertainment: transparency backed by cryptography.

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​This way, 1win players can check the results themselves. For example, after playing a round of Coin Flip or Dice, a player can verify the round data and confirm the server did not replace the original input after the bet was placed.

The launch of Provably Fair for Coin Flip and Dice marks the first stage of a wider rollout across 1win’s crypto gaming portfolio. Additional instant games are expected to include Provably Fair functionality by year-end.

About 1win

Founded in 2016, 1win is a crypto entertainment platform in the global gaming industry. Operating across Asia, Latin America, and Africa, 1win offers a wide range of entertainment products adapted to regional audiences. The brand actively collaborates with international public figures, including UFC legend Ilia Topuria, Olympic champion and UFC fighter Gable Steveson, rapper Tyga, reggaeton star Nicky Jam, and UFC interviewer Nina Drama—all of whom have 1win VIP community membership.

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Trump Withdraws ICE Director Nominee After Republican Senator Blocks Confirmation Hearing

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Trump Withdraws ICE Director Nominee After Republican Senator Blocks Confirmation Hearing

The President did not provide an explanation for his decision to withdraw the nomination. The White House did not immediately respond to TIME’s request for more information.

Schroyer’s pick was somewhat of a surprise, given that he has no experience leading a law enforcement agency. He is close to Homeland Security Secretary Markwayne Mullin, whose department houses ICE; Schroyer previously served on Mullin’s security detail, and the Secretary later made him a senior DHS advisor. 

Schroyer also helped lead the Oklahoma Highway Patrol’s efforts to train troopers and enforce an immigration crackdown in conjunction with ICE in his state, and was deputized to make federal immigration enforcement arrests last year.  

Mullin and Trump both urged Congress to swiftly confirm Schroyer following his nomination.

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“Lance is coming straight from the operational field where he ran large scale operations and worked alongside state and federal partners to remove illegal aliens from Oklahoma,” Mullin said at the time, adding that Trump “made a great pick.”

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SEC Backs Real Stock Tokens Over Synthetics: Who Loses?

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A $30 Billion AI Fund Implodes, Now the SEC Is Investigating Wall Street’s Role

AMC’s chief executive called Robinhood’s stock tokens vile. On Thursday, the US Securities and Exchange Commission approved onchain stock trading and barred synthetic tokens from it.

The order names no companies. It does name conditions, and two of them match the objections AMC raised in public.

What AMC’s Boss Actually Said

Robinhood extended tokenized stocks to AMC and more than 190 other companies through Robinhood Assets Limited. The firms never signed on.

“I find this practice to be contemptible, outrageous, disgusting, detestable, inexcusable, vile. How can it possibly be legal? We have no connection to this at all…” Adam Aron stated.

Chief executive Vlad Tenev answered that a company cannot control every product built on its shares once they trade publicly.

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He described the tokens as debt securities backed one to one by shares held as collateral. Buyers get the price. They get no vote.

What the SEC Put in the Thursday Writing

Venues must verify that a token gives holders the same rights and privileges as the ordinary share. Before listing a token created by an outside firm, they must notify the company and let it object.

Atkins titled that section of his statement “No Synthetics.”

“Today, the SEC is taking a significant step forward… to bring America’s capital markets into the digital age,” the chairman said.

Access is the catch. Only approved participants can trade, even though the smart contracts must run on public blockchains anyone can inspect.

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Symbol counts and volumes are capped. Onchain trading stops when the listed share halts. The relief expires in five years.

Venues must also publish trade data at set intervals, including price, size, time and daily volume. In exchange, they avoid being treated as a stock exchange.

Robinhood has since started promising voting rights and redemption for its tokens.

“Robinhood supports the SEC innovation exemption. Americans deserve access to crypto technology and all of the financial innovations it makes possible, including instant settlement, 24/7 trading, and fractionalization by default,” the company said following the regulator’s release.

Johann Kerbrat, senior vice president and general manager of crypto and international at Robinhood, called the exemption a major step that would let liquid tokenized securities markets develop onshore.

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Two of the three things on that list were being debated, with the SEC holding a separate roundtable on round-the-clock stock trading the same day. Robinhood was on the panel.

Atkins called the measure temporary and said permanent rules must follow. The SEC is taking public comment first.

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Mad Money Jim Cramer Sees 40% Upside for Palantir Stock. Does Wall Street Agree?

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Palantir Technologies Inc. (PLTR) Stock Performance. Source: Yahoo Finance

Famous CNBC Mad Money host Jim Cramer reaffirmed his $250 price target on Palantir stock (PLTR) on Thursday. Cramer’s price calls are often a complete hit or miss. “Inverse Cramer” is a popular meme, where investors believe the opposite of his prediction is likely to happen. 

Palantir stock currently trades near $175, roughly 43% below the predicted target. So, the big question is, does Wall Street back Cramer’s forecast?

Palantir Technologies Inc. (PLTR) Stock Performance. Source: Yahoo Finance
Palantir Technologies Inc. (PLTR) Stock Performance. Source: Yahoo Finance

What Are Other Analysts Predicting About Palantir Stock?

  • UBS analyst Karl Keirstead lifted his target from $220 to $250 on September 15. 
  • D.A. Davidson’s Gil Luria made the same move from $200 four days earlier.

Both pointed to demand for sovereign AI. That means AI systems that governments run on their own infrastructure rather than an outside vendor’s cloud.

Both analysts increased their price targets after AIPCon11, the company’s customer showcase. Palantir has also struck a fresh tie-up with Nvidia on supply chain software.

The raises followed Q2 results in which Palantir beat Wall Street estimates. Revenue reached $1.94 billion, up 93% from a year earlier.

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Most of Wall Street is Still Less Bullish

The consensus is more cautious. Across 23 analysts tracked by TipRanks, the average 12-month target stands at $202.11.

Palantir Technologies (PLTR) Stock Forecast & Price Target. Source: TipRanks
Palantir Technologies (PLTR) Stock Forecast & Price Target. Source: TipRanks

Seventeen rate the stock a buy, four a hold, and two a sell. The lowest target on the board is $80, under half the current price.

Palantir trades at roughly 149 times trailing earnings. That valuation has drawn repeated criticism, including from short seller Michael Burry.

Karp appeared on CNBC the same morning, calling for enforceable guidelines on artificial intelligence. Cramer posted his target shortly afterward.

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Shares have added 6.4% over five days, yet they still sit below the 52-week high of $207.52. Closing the $74 gap to Cramer’s target now rests on commercial bookings holding their pace.

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Vitalik Buterin Has a Different Take on AI Hackers and the Future of Cybersecurity

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Vitalik Buterin does not believe that the growing concern that AI-powered hacking could make cybersecurity increasingly difficult is warranted. In a recent post, the Ethereum co-founder said he disagrees with the idea that AI hacking means “cybersecurity is doomed.”

He instead said that security could naturally favor protection once people build the right systems and use stronger verification tools.

On AI Hackers and the Future of Cybersecurity

Buterin gave a simple example involving advanced artificial intelligence and mathematics. He said,

“If AI can prove Navier-Stokes and FLT, then AI can prove the statement ‘this program is secure’ as a mathematical theorem. Even if the program is very complicated.”

However, Buterin emphasized that defining what “secure” actually means is much harder than it sounds. A system can have many different security concerns that need to be considered. Security definitions can become extremely detailed. They can cover how an attacker might interfere with a system, how information could leak, and what could happen if different parts of the software or hardware fail or are compromised.

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Because of this, Buterin said making definitions more human-readable is extremely important. He described this as perhaps the only “high-level language” that matters right now. Buterin still believes that, for security-critical components, the definition can be a much smaller attack surface than the implementation itself.

Verifying whether the definition is adequate can also be more manageable than scanning the code directly. He said better tools could make this process even more practical.

He even sees an advantage in working with definitions. They are additive. If two groups have two different definitions, developers can prove that a program satisfies both. If the two definitions cannot be satisfied at the same time, the conflict is isolated and becomes an important issue for the project to address.

Verifying Whole Program

Code does not work this way, according to the Ethereum co-founder. If a program is made up of different parts, a bug in any one of those parts can compromise the whole thing. Buterin acknowledged that this approach does not work equally well for every type of software. In some cases, such as user-interface components, the definition may be almost as large as the implementation.

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But for many critical components, he said the difference is real. He specifically pointed to message-passing protocols, sandboxes, and cryptographic systems such as SNARKs and fully homomorphic encryption. Previously, developers often verified only the parts of their code that they believed were security-critical. The rest was left unchecked. While this was understandable when verification was difficult and scarce, he believes that modern AI changes the situation.

For Buterin, the answer is therefore not simply to hope that “good guys” find vulnerabilities before the “bad guys.” The more important strategy is to make code much more resilient in the first place. According to him, there is no future for blockchains, especially those focused on scalability and privacy, without this kind of work.

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Securitize jumps after regulators greenlight tokenized U.S. stocks

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Carlos Domingo, chief executive officer of Securitize Inc., speaks during the Messari Mainnet summit in New York, US, on Thursday, Sept. 21, 2023. Photographer: Michael Nagle/Bloomberg via Getty Images

Bloomberg | Bloomberg | Getty Images

Securitize surged Thursday after federal regulators greenlit the issuing of tokenized stocks on some trading platforms in the U.S. 

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The tokenization name was last up 14%. At its peak, it was up 24%.

The Securities and Exchange Commission earlier in the day announced a temporary path for the limited trading of tokenized publicly traded U.S. stocks. The order, though not a formal regulation change, will remain in force for five years.

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“The Innovation Exemption is designed to resolve challenges that have prevented responsible innovation from taking root in the United States while providing investor protections and market integrity standards,” SEC Chair Paul Atkins said in a statement.

Tokenization refers to the process of registering ownership rights for real-world assets like bonds and stocks on a digital decentralized ledger. The technology makes it possible to trade financial assets around the close, giving tokenized securities an edge over their traditional counterparts. 

Securitize became the first major tokenization firm to go public in the U.S. in early July. It holds roughly 9% of the tokenized market by assets under management, priming it to reap the rewards of a boom in real-world asset tokenization, according to Needham Securities.

The combined market value of tokenized assets has soared to $38.51 billion as of Thursday afternoon, up more than 70% over the past year, according to data provider RWA.xyz.

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“We believe the long-term leaders will be those platforms that can secure the broadest base of inst. customers. SECZ has done this having launched two funds with BlackRock, Apollo, KKR, and others and has infra. partnerships with Computershare and NYSE,” Needham analyst John Todaro wrote last week.

He initiated coverage of the stock with a buy rating.

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From Bear to Bull: Analyst Says Bitcoin UTXO Data Points to a Cycle Shift

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Bitcoin’s share of addresses sitting at a loss has dropped sharply, and on-chain analyst Crypto Dan says moves of that size have historically ended bear markets rather than just producing a short bounce.

The call went out following two macro jolts that hit crypto: a Fed rate hike and a stalled Senate vote on the CLARITY Act.

Why the On-Chain Picture Looks Different

Crypto Dan’s argument centers on UTXOs, the individual chunks of BTC in wallets, and how many currently sit below what their holders paid for them.

That share has fallen by a wide margin, and the analyst pointed to past cycles where drops of a similar size didn’t just produce a brief bounce; they closed out the bear phase entirely.

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“Looking at previous market cycles, declines of this scale have represented more than just short-term rebounds,” he wrote. “They have shown enough momentum to bring bearish phases to an end and transition the market into a bullish cycle.”

He flagged the rate hike and the CLARITY Act’s failure as near-term risks, but argued that neither had been enough to undo the shift already underway.

Darkfost’s read on the chain data lines up with that. Bitcoin is holding above $71,300, a cost basis that only counts units actively moving through the market, and Darkfost noted this level got tested twice near the end of the 2023 bear market before the next cycle took off.

On the other side sits $79,800, the break-even point for invested capital, where BTC keeps getting rejected, a pattern the market watcher also traced back to that same 2023 stretch. That leaves Bitcoin stuck between the two levels.

At the time of writing, BTC was trading above $76,000, up about 1% on the day but down nearly 3% for the week. If you zoom out, the picture flips, with the OG cryptocurrency up 19% in the past month even after sliding almost 35% over the last year, to put it about 39% below its all-time high from last October.

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Volume has cooled too, and was down close to 24% in a day to about $29.5 billion.

The Week’s Two Macro Jolts Barely Moved the Market

The two events Crypto Dan flagged already happened. The Senate failed to advance the CLARITY Act on September 15, falling short of the 60 votes needed. Bitcoin dropped on the news, then the Fed raised rates by 25 basis points the next day, its first hike in three years, and the asset climbed above $76,000.

Bitwise CIO Matt Hougan said the rally has little to do with regulation, noting that BTC rose about 38% between July and mid-September even as betting markets cut CLARITY Act odds from 39% to 18%.

Meanwhile, trader Matthew Hyland mocked predictions that the failed vote and rate hike would send Bitcoin to $50,000, when it held near $76,000, with longtime BTC advocate David Bailey calling the muted reaction the strongest sign yet that the bear market is over, saying traders are in a “bad news doesn’t matter phase.”

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Ethereum Price Prediction: Binance Inflows Hit June Record High

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ETH trades near $2,435 as Binance inflows hit a June-level high. Ethereum support/resistance levels and price prediction.

Ethereum price is trading at $2,435, up 1.5% on the day, as a fresh wave of exchange deposits raises questions and a bearish prediction about whether holders are gearing up to sell. The number underneath that move is the real story, and it’s one that traders watching the order books have been flagging all week.

Inflows of ETH to Binance have climbed to their highest level since last June, according to on-chain data cited by Cryptoquant. That kind of spike typically precedes either profit-taking into strength or a liquidity build ahead of derivatives positioning.

ETH trades near $2,435 as Binance inflows hit a June-level high. Ethereum support/resistance levels and price prediction.

The timing, with ETH fresh off a bounce from sub-$2,300 lows, makes the read genuinely ambiguous. Analysts tracking the move have pointed to it as an early signal worth watching rather than a confirmed bearish signal.

The backdrop matters. ETH has spent weeks consolidating in a rising structure many technicians call a continuation pattern, not a completed top, and the broader market is still digesting how Fed policy and macro data bleed into risk assets like crypto more generally.

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Ethereum Price Prediction: Will ETH Hit $2,800 This Week?

ETH’s current print of $2,435 sits almost exactly on the 0.618 Fibonacci retracement level at $2,438.85. A level Binance’s own analysis flagged as the pivotal support zone for the current structure. Hold above it, and the path toward $2,550 resistance stays open. Lose it convincingly, and $2,360 becomes the next test, with $2,173 the deeper downside target if that Fibonacci floor cracks.

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  • Bull case: A clean break above $2,550–$2,600 resistance opens the door to $2,800, and possibly $3,000+ in an extended flag breakout scenario.
  • Base case: continued range-bound chop between $2,360 and $2,550 while the market awaits macro clarity.
  • Bear case: a decisive Binance-inflow-driven sell-off pushes ETH through $2,360 support, exposing the $2,212–$2,161 zone near the 200-day EMA.

Volume around the current resistance band will likely determine which scenario plays out first.

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LiquidChain Targets Early Mover Upside as Ethereum Tests Key Levels

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ETH holders sitting on gains since the summer lows have a legitimate case for staying put; the higher-high structure is real. But at a $290B+ market cap, doubling from here requires an enormous amount of fresh capital. That math is exactly why some traders are rotating a slice of profits into earlier-stage infrastructure plays before the next cycle narrative sets in.

Enter LiquidChain ($LIQUID), an L3 project fusing Bitcoin, Ethereum, and Solana liquidity into a single execution environment. The presale has raised $960K at a current token price of $0.014956.

Its core pitch: a Unified Liquidity Layer and Deploy-Once Architecture that lets developers build once and tap into all three ecosystems’ liquidity simultaneously, with Single-Step Execution and Verifiable Settlement rounding out the stack.

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Research LiquidChain directly before the round progresses further.

Discover: The Best Token Presales

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Bitcoin rises as traders look past the Fed’s rate increase: Crypto Markets Today

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Bitcoin rises as traders look past the Fed's rate increase: Crypto Markets Today

Bitcoin pushed up to $76,621 on Thursday, a gain of 0.60% since midnight UTC and 0.88% over 24 hours, as risk assets focused on the Federal Reserve’s interest-rate projections rather than the first increase in more than three years. Ether added 1.1% to $2,444.36 and solana (SOL) rose 2% to $100.57.

The Federal Open Market Committee voted to lift the target rate by 25 basis points to 3.75%-4%. Chair Kevin Warsh told reporters that inflation had been “too high … for too long” and that recent months’ readings did not suggest underlying trends had meaningfully improved.

What reassured traders was the committee’s “dot plot” forecast, with a median policy rate of 4.1% at the end of both 2026 and 2027, implying just one further 25 basis-point move and no sustained tightening cycle.

Risk assets rallied, with the Dollar Index losing 0.17% while Nasdaq 100 index futures gained 1.04%, S&P 500 futures 0.81%, gold 1.02% and silver 1.52%. The two-year Treasury yield slipped 2 basis points to 4.71% after touching the highest level since 2024 in the previous session.

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Edel Expands Institutional Push as Wall Street Tokenization Matures

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Edel Expands Institutional Push as Wall Street Tokenization Matures

New York, USA, September 17th, 2026, Chainwire. Edel announced an expanded institutional push for its tokenized equity and commodity markets on Canton, led by board member Brad Klaas, a securities lending and prime brokerage veteran whose career spans BlackRock’s predecessor firms and Franklin Templeton. The push comes as Wall Street’s largest institutions move assets onchain and confront a harder question: what those assets can do once they arrive, and whether the answer gives institutions a compelling reason to change.

As part of that effort, Edel has joined the DTC Digital Assets Solutions Industry Working Group, convened to provide feedback on the creation of the DTCC Tokenization Service. 

Edel will help shape this work alongside more than 100 other members, including institutions at the core of US capital markets such as NYSE, BlackRock, Goldman Sachs, JPMorgan and Citadel Securities. The DTCC Tokenization Service is expected to launch in Q4 2026.

For most of the past decade, the question hanging over blockchain and capital markets was whether the two belonged in the same sentence. That question has largely been settled. BlackRock has tokenized funds. JPMorgan has built blockchain settlement rails.

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Franklin Templeton has moved investment products onchain. The Depository Trust & Clearing Corporation, the post-trade utility beneath much of the US securities market, is developing tokenization infrastructure of its own.

Yet as the novelty of issuance fades, a less comfortable reality is setting in. Putting an asset on a blockchain does not automatically make it useful inside the machinery of global finance. The markets around it still have to work.

For Klaas, those requirements are familiar. The questions now confronting onchain finance increasingly resemble the ones he has spent decades working through.

Beyond the Token

The first era of real-world asset tokenization was dominated by questions of issuance. How does a fund issue shares using blockchain infrastructure? That question still matters, but the value of a financial asset has never come solely from the ledger it sits on. It comes from everything that can happen around it.

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In traditional markets, assets are rarely static. Stocks are lent. Treasuries are pledged as collateral. Positions are financed, margined, cleared and moved between institutions. Dealers borrow securities to make markets, hedge funds borrow them to express short positions, and large asset owners lend portfolios that would otherwise sit idle. This plumbing rarely makes headlines. It is also where much of modern finance actually lives.

That creates a genuine risk for the tokenization movement. If a tokenized security trades in an isolated liquidity pool, cannot be used efficiently as collateral and cannot interact with the systems institutions already rely on, tokenization can simply create another silo. The bigger prize is making the asset programmable without making the market around it worse.

That means addressing liquidity, privacy, settlement and credit. It also means understanding why the existing arrangements work as they do.

What Wall Street Already Learned

Early in his career, Klaas ran global securities-lending operations at Wells Fargo Investment Advisors, the business that became Barclays Global Investors and was later acquired by BlackRock. He says he scaled those operations from just over $1 billion to nearly $40 billion before leaving in 1998, during a period when the firm’s assets under management grew from roughly $400 billion to $1.2 trillion.

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He went on to build businesses in prime brokerage and electronic trading, and later spent more than four years at Franklin Templeton working on institutional tokenized collateral products and partnerships. His experience spans both the machinery that puts institutional portfolios to work and the effort to bring those functions onchain.

That career arc matters because the two markets are starting to collide. Securities lending turns a passive portfolio into productive capital, but the infrastructure underneath it is demanding. Counterparty exposure has to be managed. Collateral moves, margin changes and securities need to be recalled. Corporate actions have to be accounted for, and settlement needs to happen reliably.

Decades of financial infrastructure exist to make that process look boring. Blockchain changes some of the mechanics, but it does not eliminate those obligations.

Klaas sees an opportunity in how those functions connect. Discussing traditional securities finance with Andrés Soltermann, CEO and co-founder of Edel, he describes “very old systems all lined up in a particular way.” Changing what an asset can do often means working through arrangements that were not designed to adapt together. By contrast, his interest in blockchain rests on composability: the ability to build financial functions that can work with one another and accommodate new uses.

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That flexibility helps explain Klaas’s interest in Edel. Asked what competitive advantage a token could give the business, he points to the possibility of using it across several activities rather than confining it to one application. As the infrastructure develops, those uses could open up different sources of income and activity – what he describes as “creating that flywheel around income.” For someone who has spent decades building businesses around the productive use of assets, the attraction is a token whose economic role could expand alongside the markets being built around it.

As a board member, Klaas’s remit spans institutional strategy, senior industry relationships and shaping how Edel’s markets for tokenized equities and commodities on Canton serve institutional participants. He brings the team into conversations with decision-makers across traditional finance, while helping translate their commercial and operating requirements into the markets Edel is building.

Canton gives that discussion a practical dimension: qualifying applications can earn Canton Coin rewards for the economic activity they bring to the network. Edel reported in August that it was generating “tens of thousands in revenue every day,” which the company attributes to those rewards. That offers a concrete example of the broader opportunity Klaas describes: earning from participation in the infrastructure, alongside the business built on top of it.

What matters is the overlap between what he spent decades building and the problem now emerging onchain. His experience connects the technology to the business decisions that determine whether institutions will use it.

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The Profit Formula

Klaas is clear-eyed about institutional change. Large firms have established revenues, internal obligations and investors whose agreement may be needed before they can adopt a different approach. Their willingness to move, he argues, is affected by “their own profit formula.”

That observation cuts both ways. An institution has little reason to replace a working system merely because a newer technology exists. It has a more compelling reason to consider one that could lower funding costs, improve collateral availability or allow it to do more business with the assets it already holds.

This is where collateral mobility becomes interesting. If assets take hours or days to move between systems, institutions may need additional liquidity to meet obligations while they wait. If an eligible security can be deployed more efficiently as collateral, some of that funding burden could fall. An existing portfolio could support financial activity that would otherwise require a separate pool of cash.

Those improvements have to justify the cost of integration and satisfy the institution’s risk requirements. But they speak directly to the economics Klaas describes. The same concern for profitability that makes a firm reluctant to change can give it a reason to adopt a system that demonstrably improves how it uses capital.

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Tokenized Assets Need Something to Do

Edel is exploring one application of that idea: whether securities tokenized by DTC could be recognized directly as margin within Edel Markets.

Its immediate focus is perpetual futures on Canton. The broader ambition is to build capital-markets infrastructure that makes tokenized assets more productive, improving how they move, support positions, and serve the institutions holding them.

If the necessary arrangements can be established, an institution might be able to post an eligible security rather than sell it or raise separate cash to fund margin. The potential benefit would come from reducing the friction between holding an asset and putting it to work.

Recognition as margin, however, requires more than a token that can move. The receiving market has to accept the asset, value it appropriately, and establish what happens if the position deteriorates or the counterparty defaults. Custody, permissions and enforceable rights remain part of the transaction.

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These are the kinds of questions that connect the proposed application to Klaas’s experience. A crypto developer can explain what the technology permits. An institution needs to understand how the arrangement fits its financing, risk, and operating requirements. His contribution lies in helping those conversations meet.

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