Securitize hires former PayPal executive Jerome Roche as it expands regulated tokenized securities for US investors and builds on fresh approvals in Europe. Major tokenization platform Securitize has doubled down on its push to bring tokenized equity to US investors, naming a former PayPal executive as its new general counsel. Securitize on Tuesday announced the appointment of ex-PayPal executive Jerome Roche, who led the company’s expansion into digital asset projects, including the PayPal USD (PYUSD) stablecoin. Securitize also said its tokenized securities are already available to US investors, challenging the notion that most issuers prefer to offer such products abroad due to local stock access. Read more
Prediction markets may be providing a way of turning opinions into financial products, but they may also pose financial risks and opportunities for insider trading. Prediction markets like Kalshi and Polymarket are growing, generating billions of dollars in volume. But some observers are concerned about the ethical problems and potential credit risks posed by major prediction betting platforms. Last week, Polymarket saw a notional volume of over $1.2 billion, according to Dune Analytics. Media giant CNBC has entered into a partnership with prediction market Kalshi to integrate prediction data in its TV, digital and subscription platforms. On the back of this success, Kalshi co-founder Tarek Mansour has mentioned creating “a tradable asset out of any difference in opinion,” stating that prediction markets could soon surpass the stock market in size. Read more
Kevin O’Leary, aka “Mr Wonderful,” says Bitcoin may not be the most logical first target for quantum computing attacks. Quantum computers may eventually be capable of breaking Bitcoins security, but attempting to use it that way could be entirely pointless, according to multimillionaire entrepreneur Kevin OLeary. If youre going to take a quantum computer stack and dedicate it to cracking Bitcoin, is that the best use of the power and that facility, or is there another way to make money? OLeary says during an interview with Magazine. Ive heard the narrative for almost six years, OLeary, dressed in his trademark black suit, says, brushing aside a long-held concern from the crypto industry. Read more
Malaysia’s crown prince launched a stablecoin on Zetrix and a $121 million digital asset treasury modeled after MicroStrategy, despite sector bubble fears. The eldest son of Malaysia’s billionaire king is launching a stablecoin pegged to the national currency, targeting payments across the Asia-Pacific region. Bullish Aim, a telecom company owned by Ismail Ibrahim, the son of Sultan Ibrahim Iskandar of the Johor royal family, on Tuesday announced the launch of RMJDT, a new stablecoin backed by the Malaysian ringgit, the country’s fiat currency. The stablecoin is set to be issued on Zetrix, a layer-1 blockchain designed to connect governments, businesses and individuals to the Web3 economy with a focus on cross-border integration, particularly in China. Read more
Crypto is at a mainstream tipping point due to the emergence of regulated investment products, according to Matt Huang of Paradigm. The cryptocurrency industry is approaching its “Netscape moment,” as steady progress in blockchain infrastructure and the rise of regulated investment products drive a new wave of institutional adoption, according to Paradigm co-founder Matt Huang. The crypto sector is “facing its ‘Netscape’ or ‘iPhone’ moment,” Huang wrote Sunday in a post on X. “It’s working bigger than ever before, far beyond our wildest dreams. Both the institutional parts and the cypherpunk parts.” Netscape launched the first easy-to-use web browser for mainstream users in 1994 before going public with a successful initial public offering (IPO) in August 1995, marking the first building block that triggered the internet’s mass adoption. Read more
Hong Kong has launched a public consultation on adopting the OECD’s crypto account tax data sharing program, CARF, and revising its tax reporting standards. Hong Kong has launched a public consultation on how to implement the international Crypto-Asset Reporting Framework, or CARF, as it moves to bring crypto tax data sharing in line with global standards. According to a Tuesday news release, Hong Kong is seeking input on both the implementation of CARF and changes to tax reporting standards. The announcement explicitly ties the move to the local administration’s efforts to fight cross-border tax evasion. The move constitutes standardization rather than a change of direction by the local government. As the announcement points out, Hong Kong authorities have been annually exchanging financial account information with partner jurisdictions since 2018. Read more
Japan’s FSA is set to mandate liability reserves for crypto exchanges to boost consumer protection. The new rules are set to change the market. Japan is in the process of introducing significant changes to cryptocurrency regulation following renewed attention to Mt. Gox-related repayment activity in 2024. The Financial Services Agency (FSA) plans to introduce new rules requiring cryptocurrency exchanges to maintain special “liability reserves” to protect customers if their assets are lost due to hacks or unauthorized transfers. The measures aim to bring the cryptocurrency sector closer to the strict standards applied to traditional financial institutions in Japan, one of the world’s most heavily regulated markets. Read more
The total value traded for spot DOGE ETFs reached its lowest point since launch, signaling a fading of the early hype as liquidity and flows lag well behind those of major crypto ETFs. US spot Dogecoin exchange-traded funds (ETFs) are showing early signs of cooling demand, as total value traded (TVT) has fallen to its lowest level since launch. SoSoValue data showed that on Monday, Dogecoin ETFs’ TVT fell to just $142,000, the lowest since launch. This marked a sharp retreat from late November, when the funds saw days where value traded topped $3.23 million. Total value traded refers to the total dollar amount of ETF shares bought and sold over a given period. It serves as a gauge of market activity and practical liquidity, indicating the amount of money that has moved through the funds. Read more