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NYSE Eyes Private Blockchains to Launch 24/7 Tokenized Stock Trading

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NYSE Eyes Private Blockchains to Launch 24/7 Tokenized Stock Trading

The Intercontinental Exchange said the new platform is part of its broader digital strategy, as tokenized stocks soar in popularity.

The New York Stock Exchange (NYSE) is working on a new digital platform that would let people trade tokenized stocks and exchange-traded funds around the clock, seven days a week, the company revealed in a press release today, Jan. 19.

The largest stock exchange globally said in the release that the launch is only “one component” of its parent company Intercontinental Exchange’s “broader digital strategy.” Intercontinental Exchange is also working with major banks, including BNY Mellon and Citi, to support tokenized deposits across its global clearinghouses, according to the announcement.

Michael Blaugrund, vice president at Intercontinental Exchange, told Bloomberg in an interview today that the move reflects an “evolution of NYSE’s trading capabilities.” He added that NYSE could give retail investors more opportunities, allowing them to trade 24/7 and use funds immediately.

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“It allows for new types of investor accessibility, and will create new opportunities for retail to participate in the stablecoin-funded markets that have attracted their attention,” Blaugrund said.

According to Bloomberg’s report, the NYSE intends to combine its existing trading system with private blockchain networks, though the team didn’t reveal further details.

The Defiant reached out to Intercontinental Exchange for details and comments on the move, but hasn’t heard back by press time.

Blaugrund also added that the company is in the process of working with the U.S. Securities and Exchange Commission (SEC) to gain approval, and Bloomberg reports that NYSE is aiming to roll out the new platform later this year.

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In mid-December, Nasdaq filed with the SEC for approval to offer 24-hour trading on weekdays to meet rising global demand for U.S. stock trading. The firm says, pending regulatory approval, it plans to launch the new trading hours in the second half of this year.

Tokenized stocks have seen a huge jump in popularity in the past year. In January of last year, the total market cap of tokenized equity stood at just over $5 million, while this month it’s just over $397 million — a 7,840% increase year-over-year.

As The Defiant reported last month, centralized crypto exchanges like Coinbase and Kraken are competing for their share of the sector, while decentralized platforms such as TradeXYZ and Ostium are pushing on-chain, crypto-native adoption.

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UK gov’t committee calls for halt to crypto donations amid foreign interference fears

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UK gov't committee calls for halt to crypto donations amid foreign interference fears

UK politicians concerned with foreign interference in politics are calling for temporary restrictions on crypto donations to be put in place until permanent legislation is drafted.

The Joint Committee on the National Security Strategy called for the measures in a letter to the UK’s Communities Secretary, Steve Reed, on Tuesday.

In the letter, Committee Chair Matt Western recommended five temporary measures: 

  • A temporary ban on accepting crypto donations until the Electoral Commission publishes its own guidance on interim crypto measures. 
  • Crypto donors should be prevented from using crypto firms that aren’t registered with the Financial Conduct Authority to make their donations
  • Donations should be converted into sterling within 48 hours of their receipt.
  • Crypto that’s been “upstream” from crypto mixers and tumblers, such as Tornado Cash, should be prohibited.
  • Crypto should only be accepted when an individual has “high confidence” about its origins.

Kraken says crypto ban will ‘displace’ political donations

The committee took into consideration the views of various stakeholders, crypto entities, charities, and research groups when deciding on its recommendations.  

Despite this, not everybody is happy. Kraken’s Chief Compliance Officer Natasha Powell, for example, warned that a ban would displace crypto donors to shadier avenues of funding, and that donors should be allowed to make donations from UK-regulated institutions.

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“If you say, ‘No crypto donations, they’re illegal,’ people will go offshore and find different ways of doing them,” said Powell. “They will keep happening; they will just do so under the radar.”

Read more: Nigel Farage milkshake’d while touring with shady crypto ally

The director of the Centre for Finance and Security at RUSI agreed with Powell, and called for a “moratorium until such time as we are sure that we have the right checks and balances in place.”

The anti-corruption charity Spotlight on Corruption has also suggested various measures to tackle shady crypto donations, while the Electoral Commission has said it could be given discretionary power to draft crypto donation guidance. 

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“This could involve producing non-statutory guidance at first, which could be changed to statutory guidance if required,” the letter reads.

The letter also highlights that, as the UK’s military role in Europe grows, and the security environment worsens, “the value of influencing the UK’s political positions (for example on Ukraine, or US/EU relations) is likely to increase.”

His letter also recommended tougher sentences for electoral finance offences, a singular group dedicated to policing political finance and foreign interference risks, and increased wealth checks for political donors.

Crypto donation ban would upset Reform UK 

The only major party currently accepting crypto donations in the UK is Nigel Farage’s Reform UK. The right-wing party announced its acceptance of crypto donations last May as part of an effort to appeal to crypto investors. 

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It’s received over £19 million ($25.6 million) in donations from Tether shareholder Christopher Harbourne over the years and has also reportedly received some crypto donations, but hasn’t disclosed who from. 

Because of this, Labour and Liberal Democrat MPs have called for an investigation that looks to determine any potential conflicts of interest that might “undermine public trust in the integrity of our political system.”

Read more: Scoop: Bitfinex, Tether shareholder Harborne is Nigel Farage’s top donor

One of Farage’s close allies, George Cottrell, is linked to a Polymarket wallet that made millions betting on the outcome of various Donald Trump-related prediction markets.

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Cottrell was also convicted of wire fraud after he was caught agreeing to launder drug trafficking proceeds. He allegedly threatened to report the fake drug traffickers unless they paid him $80,000 worth of bitcoin. 

He’s also launching a book called How To Launder Money, and his mother, Fiona Cottrell, has also donated £750,000 ($1 million) to Reform UK.

Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on XBluesky, and Google News, or subscribe to our YouTube channel.

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Solana Price Charts Are Hinting at a Potential Rally Toward $110 Next

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Solana Price Charts Are Hinting at a Potential Rally Toward $110 Next

Solana’s SOL (SOL) has rallied 10% over the past 24 hours, rising to an intraday high of $86 on Wednesday.

The recovery was accompanied by a leap in futures activity, with SOL’s open interest rising by more than 5% to $5.27 billion.

Analysts are now focusing on the short-term technical setup and fundamental indicators that may signal a major turning point for SOL.

Key takeaways:

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  • SOL price has risen 10% in 24 hours, fueled by bullishness in the broader market and Solana ETF inflows.

  • Solana’s symmetrical triangle breakout targets $110 SOL price.

SOL recovers with the crypto market

The SOL/USD pair rose as much as 13.6% to $86 on Wednesday from a two-week low of $75 on Tuesday, amid a marketwide recovery.

Bitcoin (BTC), the market leader, was trading at $66,800 at the time of writing, up 5% over the 24 hours. Second-placed Ether (ETH) has gained about 8% on the day to trade just above $1,990. XRP (XRP) has also posted significant daily gains among the top 10 cryptocurrencies, up 6% over the same period.

As a result, the global crypto market capitalization is up 4% on the day to $2.28 trillion on Wednesday.

Performance of top-cap cryptocurrencies: Source: CoinMarketCap

Solana’s surge today is accompanied by significant short liquidations totaling $15.4 million over the last 24 hours, signaling intense demand-side pressure.

The buyers were also US-based spot Solana ETFs, which have recorded $40 million in net inflows since Feb. 9.

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Spot Solana ETFs flows table. Source: Farside Investors

The growing demand-side pressure that could push SOL prices higher when coupled with increased inflows from global Solana investment products and buying by whales.

Cryptocurrencies, Markets, Price Analysis, Tech Analysis, Market Analysis, Altcoin Watch, Solana, ETF
Source: Lookonchain

SOL’s symmetrical triangle breakout targets $110

Data from TradingView shows SOL price breaking above a symmetrical triangle on the six-hour time frame, as shown in the chart below.

The price needs to close above the 100-day simple moving average (SMA) at $86 to sustain the upward momentum.

The measured target of the prevailing pattern, calculated by adding the height of the triangle to the breakout point, is $110, coinciding with the 50-day SMA. This represents a 28.5% rally from the current levels. 

SOL/USD 6-H chart. Source: Cointelegraph/TradingView

As Cointelegraph reported, a daily candlestick close above the 20-day EMA, currently at $88, would open the way for a rise toward $95 and later to $117. 

Glassnode’s realized price distribution data for Solana shows limited historical buying activity above $85, suggesting that the bulls could easily break this resistance.

In other words, there are relatively few SOL holders with a cost basis above this zone, reducing the chances of sellers stepping in decisively until the price reaches higher supply zones. 

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The next significant resistance sits at $115, where approximately 22 million SOL were previously acquired.

SOL: UTXO realized price distribution (URPD). Source: Glassnode