Nasdaq is wiring its collateral and surveillance systems into Talos’s institutional trading stack to target a $35 billion “trapped” collateral problem. Nasdaq will integrate its Calypso risk and collateral platform and trade surveillance system with digital asset infrastructure firm Talos’s institutional trading tools. The integration announced Monday aims to offer institutional clients a “unified” workflow for managing tokenized collateral and monitoring crypto and traditional assets for market abuse. It aims to ease a bottleneck in institutional tokenization, with Nasdaq citing internal research that roughly $35 billion in collateral sits tied up in “corrective and non-interest-bearing measures.” Nasdaq’s integration of its trade surveillance tools means that Talos clients will be able to run alerts for opaque tactics such as wash trading, spoofing and layering across the venues they access. Read more
Aave founder Stani Kulechov says the proposal will move to a binding onchain vote to formalize V4’s deployment on Ethereum. Aave’s decentralized autonomous organization backed a proposal to move its V4 protocol toward deployment on Ethereum mainnet, signaling broader support for the upgrade after weeks of governance tension and contributor exits. On Monday, the proposal to deploy Aave V4 on the Ethereum mainnet garnered near-unanimous support from the DAO, with more than 645,000 votes in favor and less than one vote against, and no abstentions, according to data from the offchain voting platform Snapshot. The vote marks a shift from earlier divisions within the Aave community, signaling broad alignment around the protocol’s direction as it moves toward formalizing V4’s deployment. Read more
Mass adoption risks crypto’s cypherpunk roots. Privacy as a permissionless foundation must reclaim DeFi from surveillance, TradFi and memecoin casinos. Opinion by: Dr Corey Petty, chief evangelist at Logos When early cryptocurrencies were conceptualized, the vision was not one of complex leverage strategies, celebrity rugpulls and government treasuries. Rather, cypherpunks sought, through cryptographic tools, to empower people through the privacy-given freedom to exchange goods and services without the threat of government overreach and mass corporate surveillance The crypto landscape is turning from one of decentralized networks into an extension of traditional finance. Centralized exchanges regularly account for over 80% of daily crypto transactions. If crypto is to hold onto its original ethos, privacy cannot be optional. Read more
The SEC’s handling of cases involving Justin Sun and Elon Musk was among the factors that caused the agency’s top enforcement official to quit, according to sources. Update (March 25, 12:18 am UTC): This article has been updated to add a response from the SEC. The US Securities and Exchange Commission's former top enforcement official reportedly clashed with the regulator’s top brass before resigning last week, with part of the reason being how the agency handled cases involving those close to US President Donald Trump. Margaret Ryan, the ex-director of the SEC's Division of Enforcement, wanted to pursue fraud and other charges in cases involving those in Trump’s orbit, but was resisted by SEC Chair Paul Atkins and other Republican political appointees, Reuters reported on Monday, citing people familiar with the matter. Read more
NovaBay Pharmaceuticals was founded in 2000 as a biopharmaceutical company developing eye care products and is now betting big on the Sky protocol and stablecoins. Shares in NovaBay Pharmaceuticals jumped nearly 19% after the company announced it would change its name to Stablecoin Development Corporation as part of its strategic crypto pivot. NovaBay Pharmaceuticals CEO Michael Kazley said in a statement on Monday that the company’s plan going forward is to access cash flows within the growing stablecoin economy. “The name change to Stablecoin Development Corporation reflects our conviction that stablecoins represent the most compelling structural opportunity in digital finance,” he said. Read more
Strategy is increasingly turning to perpetual preferred stocks to fund its Bitcoin strategy, with the company adding 90,000 BTC to its balance sheet so far this year. Michael Saylor’s Strategy has announced several capital-raising programs totaling $44.1 billion to fund Bitcoin purchases, including the sale of common shares and two of its dividend-paying equity vehicles. Strategy plans to raise up to $21 billion by selling Strategy (MSTR) stock and another $21 billion from its high-yield perpetual preferred stock, Stretch (STRC), via new at-the-market programs, the company said in an 8-K filing to the US Securities and Exchange Commission on Monday. Strategy also intends to sell up to $2.1 billion worth of Strike (STRK) — another of its perpetual preferred stock offerings. The company didn’t specify a timeline for the issuances, stating that shares may be sold “from time to time.” Read more