NYSE Taps Securitize
Plus, Tether is finally getting audited
gm, Defiers!
TL;DR:
- NYSE partners with Securitize
- Balancer proposes reorg
- Tether hires a Big Four
- Enterprises Are Finally Moving Their Businesses Onchain: RJ Catalan of Aligned [MEDIA PARTNER]
Let’s dive in.
Crypto markets corrected slightly today after yesterday’s cautious rally. Sentiment remains in the extreme fear zone, while total market cap stands at $2.46 trillion. Meanwhile, stablecoin-linked stocks, namely Circle and Coinbase, dropped sharply today after news broke that the latest draft of the Clarity Act would restrict stablecoin yield offerings.
In DeFi, the wave of downsizing and rethinking the Labs-DAO structure has hit Balancer. One of the oldest protocols in DeFi, Balancer is now proposing shutting down its Labs, cutting the team in half and consolidating operations under a DAO-controlled entity, alongside a separate tokenomics proposal.
In TradFi, the NYSE, which first revealed it was planning a 24/7 tokenized securities trading platform in January, today announced that it has selected Securitize to collaborate on tokenized securities infrastructure. In a somewhat similar partnership also today, asset manager Invesco will take over management of Superstate’s flagship tokenized Treasury bill fund.
Finally, Tether has decided it’s time for a full audit. After years of criticism, scrutiny, and even government fines over the nature of the reserves backing USDT, the largest stablecoin in the world by supply, Tether said it is hiring a Big Four firm to conduct a full financial audit.
Read more below! But first, please give our sponsors some love; they make this newsletter possible.
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We’re back! Here’s what you need to know in web3 today
📈 Markets in the Past 24 Hours
| TICKER | VALUE | 24H | |
|---|---|---|---|
 | Bitcoin | $69,290 | -2.04 % |
 | Ethereum | $2,115.15 | -1.86 % |
 | BNB | $629.78 | -1.25 % |
 | XRP | $1.39 | -3.34 % |
 | Solana | $88.74 | -3.10 % |
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🎬WATCH
How the DTCC is Tokenizing $100 Trillions in Assets | Tom Sullivan
In this episode of The Defiant Podcast, Cami sits down with Tom Sullivan, Managing Director at DTCC Digital Assets.
Tom explains DTCC’s role as the trusted infrastructure behind much of the U.S. securities market, why blockchain has become a real infrastructure priority, and how tokenized assets could improve collateral mobility, settlement efficiency, and capital efficiency across global markets.
Watch the full interview:
Top News in the Past 24 Hours
NYSE Taps Securitize to Develop Tokenized Securities Trading Infra
The New York Stock Exchange and real world asset (RWA) tokenization platform Securitize have signed a Memorandum of Understanding to collaborate on tokenized securities infrastructure.
Why it matters: The move is part of a broader pattern of TradFi giants collaborating with crypto native firms to build infrastructure for their on-chain offerings.
Balancer Proposes Winding Down Labs, Ending BAL Emissions in Sweeping Reset
The team behind veteran DeFi protocol Balancer has posted two sweeping governance proposals that would wind down Balancer Labs, consolidate all operations under a DAO-controlled entity, and end BAL token emissions entirely.
Why it matters: The move comes almost five months after Balancer was exploited for $128 million, which triggered months of crisis response.
Tether Engages Big Four Firm for First Full Audit
Tether announced on Tuesday that it has engaged an as yet unnamed Big Four accounting firm to conduct what the firm says is its “first full independent financial statement audit.”
Why it matters: The move comes after years of criticism and scrutiny over Tether's transparency practices.
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