Weekly Recap: DTCC Gets SEC Approval for Tokenization Pilot
Happy weekend Defiers!
Crypto markets had a volatile week, with BTC briefly trading above $94,000 on Wednesday prior to the Fed meeting, only to end the week around $90,000 as a selloff in tech stocks weighed on investor sentiment.
The Depository Trust & Clearing Corporation (DTCC) received a no-action letter from the SEC that allows it to test tokenized versions of major TradFi assets.
Terra founder Do Kwon has been sentenced to 15 years in prison, with the latter half to be served in his native South Korea.
Meanwhile, Coinbase is gearing up to support on-chain Solana token trading directly through its app.
Finally, Stream Finance is suing its operator over mismanagement, a month after the yield platform collapsed.
Enjoy!
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Top stories this week
DTCC Gets SEC Clearance to Pilot Tokenized U.S. Securities
The SEC approved a three-year pilot for certain Layer 1 (L1) and Layer 2 (L2) blockchains, starting in the second half of 2026. The program covers highly liquid assets, including stocks in the Russell 1000 index, major index-tracking ETFs, and U.S. Treasury bills, notes and bonds.
In other tokenization news this week, Galaxy issued its first commercial paper on Solana, and Superstate debuted a direct on-chain issuance platform.
Terra Founder Do Kwon Sentenced to 15 Years in Prison
After a long legal battle, Do Kwon, the founder of the defunct algorithmic stablecoin protocol Terra, is set to serve 15 years behind bars.
Terra’s $40 billion implosion is widely considered to have triggered the bear market and FTX collapse in 2022.
Crypto Markets Post Minor Losses Amid Tech Sell-Off
Major digital assets traded mostly flat or posted modest losses on Friday as stock markets dipped following disappointing earnings from several large U.S. technology companies.
Bitcoin (BTC) continues to consolidate around $90,000.
Coinbase Says It’s ‘Expanding to Solana’ with Native DEX Trading
Coinbase is set to launch on-chain trading of Solana-based tokens directly through a built-in decentralized exchange in its app, bypassing the need for traditional listings.
Stream Files Lawsuit Against Operator ‘0xlaw’ Over $93 Million Loss
Stream Finance, the yield optimization platform that collapsed last month, is suing its owner and operator, Caleb McMeans, known online as 0xlaw, alleging mismanagement.
Trending
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- Coinbase Says It’s ‘Expanding to Solana’ with Native DEX Trading
- Stream Files Lawsuit Against Operator ‘0xlaw’ Over $93 Million Loss
