Nasdaq has filed for a rule change with the SEC that would allow regulated exchanges in the US to trade tokenized stocks. Nasdaq, the world’s second-largest stock exchange by market capitalization, is seeking regulatory approval from the US securities regulator to list tokenized stocks. Nasdaq filed a request Monday with the US Securities and Exchange Commission (SEC) asking for a rule change that would allow the company to list tokenized stocks. The exchange operator specifically asked to amend certain rules, including the definition of a security, to trade tokenized stocks under the same execution and documentation rules as traditional securities, provided the tokenized versions are deemed equivalent. Read more
Forward Industry’s $1.6 billion SOL corporate treasury would be nearly triple the size of the largest existing Solana reserve. Nasdaq-listed design and manufacturing company Forward Industries secured $1.65 billion in cash and stablecoin commitments to launch a Solana-focused crypto treasury strategy. The company said Monday that it raised the largest Solana (SOL) treasury to date, led by crypto-native companies Galaxy Digital, Jump Crypto and Multicoin Capital. Other participants included C/M Capital Partners, which is one of Forward Industries’ existing shareholders. This follows a Bloomberg report in late August saying the three crypto giants were planning to raise $1 billion and take over a publicly-traded company to create the biggest crypto treasury dedicated to Solana. Read more
Strategy’s latest 1,955 Bitcoin acquisition brought its total BTC holdings to 638,460 BTC, purchased at an average price of $73,880 per coin. Michael Saylor’s Strategy, the world’s largest holder of Bitcoin, continued stacking the cryptocurrency as the BTC price edged up slightly last week. Strategy acquired 1,955 Bitcoin (BTC) for $217.4 million between Sept. 2 and 7, according to a Tuesday US Securities and Exchange Commission filing. The purchase was made at an average price of $111,196 per coin as the cryptocurrency briefly surged above $113,000 last Friday before slipping to around $110,000, according to CoinGecko. Read more
XRP price has painted a classic bullish reversal pattern against Bitcoin, eyeing gains of over 100% in the coming months. Key takeaways: XRP/BTC is up around 300% since Trump’s election victory. The pair could rally by another 100%-250% due to multiple bullish setups aligning. Read more
Selling by Bitcoin long-term holders, reduced buying by treasury companies and a weakening technical structure could push BTC’s price toward $95K. Key takeaways: Long-term Bitcoin holders sold 241,000 BTC over the past 30 days. BTC price bear flag targets $95,500. Read more
HSBC and ICBC reportedly plan to apply for Hong Kong stablecoin licenses, with ICBC and Standard Chartered expected to secure first-round approvals. HSBC and the world’s largest bank by total assets, the Industrial and Commercial Bank of China (ICBC), reportedly plan to apply for stablecoin licenses in Hong Kong as the region’s new regulatory regime takes effect. According to a Monday report in the Hong Kong Economic Journal, both HSBC and ICBC signaled their intention to apply for a stablecoin license with the Hong Kong Monetary Authority (HKMA). Neither bank responded to Cointelegraph’s request for comment by publication. The HKMA previously said it is likely to only issue a few stablecoin licenses at first. According to the report, Standard Chartered and ICBC are likely to receive their licenses in the first round, giving them a potential first-mover advantage. Read more