Crypto.com’s CEO said its sister exchange was cleared to offer US access to single-stock perpetual futures, as the latest platform to bridge TradFi and digital assets. OG.com has received authorization from the US Securities and Exchange Commission (SEC) to offer single-stock futures in the US. Kris Marszalek, co-founder and CEO of crypto.com, made the announcement its sister futures exchange in a Thursday X post that received regulatory approval to list single-stock futures in the US. The US Securities and Exchange Commission (SEC) has acknowledged OG.com’s 1-N filing, authorizing the platform to offer single-stock futures in the US, . Read more
The SEC’s Innovation Exemption allows limited tokenized US stock trading on onchain venues with trading caps and transparency requirements. The US Securities and Exchange Commission approved a temporary exemption allowing limited trading of tokenized US stocks on certain onchain venues. Under the innovation exemption approved Thursday, Tokenized Securities Venues (TSVs) can offer permissioned trading of tokenized National Market System (NMS) stocks. The exemption covers trading through automated market makers and liquidity pools, subject to requirements including transaction transparency, recordkeeping and technology safeguards, SEC Commissioner Mark Uyeda said. TSVs must also regularly publish US dollar-denominated transaction data, including prices, trade sizes, timestamps, pool addresses, end-of-day pool sizes and daily volumes. Read more
Bitcoin treasury companies promise to amplify returns over investing in Bitcoin alone, but does the potential upside outweigh the risks to the downside? There are now 179 listed companies holding Bitcoin on their balance sheets, all following variations of the same simple formula: Raise capital on traditional markets, buy Bitcoin and attempt to increase the amount of BTC that backs each share faster than the company dilutes shareholders. According to Mark Palmer, managing director and senior equity research analyst at StoneX, that’s how treasury companies attempt to “beat” Bitcoin’s returns. Read more
S&P Global agreed to buy OpenZeppelin, which says its smart contracts have facilitated more than $37 trillion in value transfers. S&P Global is set to acquire the blockchain security company OpenZeppelin, expanding the financial data, ratings and benchmark provider’s digital asset capabilities. The deal announced on Thursday is aimed at complementing S&P Global’s risk assessment and ecosystem development capabilities in the digital asset market, it said. Financial terms were not disclosed, and the transaction remains subject to closing conditions. “Our digital assets strategy centers on bringing trusted data, benchmarks and transparent risk assessment to markets as they move onchain,” S&P Global ratings president Yann Le Pallec said. He added that OpenZeppelin would expand his company’s smart contract and onchain technology risk assessment capabilities. Read more