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  • FASB Proposal Could Allow Stablecoins as Cash Equivalents on Corporate Books

    FASB Proposal Could Allow Stablecoins as Cash Equivalents on Corporate Books

    The Financial Accounting Standards Board (FASB) is considering a rule change that could permit certain stablecoins to be classified as cash equivalents on corporate balance sheets, according to a report by Stripe’s Tempo. This proposed accounting standards revision, if adopted, could significantly impact how companies report their liquidity and manage financial covenants.

    The public comment period for the FASB proposal concludes on November 19th. A key condition for a stablecoin to be recognized as a cash equivalent under the proposal is the existence of a direct redemption right with the stablecoin issuer. this may indicate that simply purchasing a stablecoin, even one fully backed by U.S. dollars, does not automatically qualify it as a cash equivalent if the redemption mechanism is not direct with the issuer.

    Currently, many stablecoins, despite being fully backed, are not classified as cash reserves on corporate balance sheets. This can lead to understated liquidity ratios and potentially trigger violations of loan covenants. The FASB’s proposal aims to address this discrepancy, allowing qualifying stablecoins to be treated as cash, thereby providing a more accurate reflection of a company’s liquid assets.

    Coinbase, for example, has already classified USDC and other payment stablecoins as cash equivalents in its 2025 annual report, based on its direct redemption mechanism with Circle. Stripe’s Tempo report highlights that the contract arrangement between a company and the stablecoin issuer is the determining factor for this classification.

    This potential accounting shift is occurring alongside the development of regulatory frameworks for stablecoins. The GENIUS Act, a federal regulatory framework for payment stablecoins, was passed in July 2025 and is slated to become effective in January 2027, or 120 days after regulatory agencies complete implementation rules, whichever is earlier. While the GENIUS Act focuses on issuer responsibilities, the FASB proposal addresses the accounting treatment for holders.

    Together, the GENIUS Act and the FASB proposal are seen as forming a foundational infrastructure for the U.S. stablecoin ecosystem, which has a market size for USD-backed stablecoins exceeding $300 billion.

    Uncertainties remain regarding the specifics of the FASB proposal. It is not yet clear which stablecoins will qualify, nor if companies already holding stablecoins will need to adjust their redemption channels. Details on transition periods for companies to adapt to the new rules are also pending.

    Broader U.S. government initiatives may also promote USD-backed stablecoins internationally. Reports suggest the Trump administration is evaluating projects to encourage overseas use of these stablecoins. The proposed accounting change is viewed as a critical step in this strategy, potentially removing reporting and banking limitations that could hinder corporate use of stablecoins.

    Why This Matters

    The materials describe a narrow update: A report by Stripe’s Tempo suggests that a proposed accounting standards revision by FASB could permit qualifying stablecoins to be listed as cash equivalents on corporate balance sheets, provided there is a direct redemption right with the issuer. Which specific stablecoins will qualify for classification as cash equivalents.

    Broader Context

    Source materials place the factual news in this context: Stripe 旗下 Tempo 發布報告指出，FASB 八月的會計準則修訂案可能讓符合條件的穩定幣列為企業資產負債表的「現金等價物」，關鍵在於是否擁有與發行者之間的直接贖回權。.

  • Bitcoin Dips Below $81.5K, Ethereum Falls Under $2,425 Amid $770M Liquidations

    Bitcoin Dips Below $81.5K, Ethereum Falls Under $2,425 Amid $770M Liquidations

    Crypto Market Sees Significant Pullback, Bitcoin Drops Below $81.5K

    The cryptocurrency market experienced a notable downturn on December 13th, with Bitcoin falling below the $81,500 mark. The digital asset saw a 2.9% decline in the past 24 hours, trading at $81,510. Ethereum also slipped below $2,425, experiencing a steeper drop of 4.8%. Solana (SOL) and XRP (XRP) followed suit, with both cryptocurrencies plummeting between 6% and 7%.

    The broad market correction led to over $770 million in liquidations across crypto derivatives markets, predominantly affecting long positions which accounted for $685 million of the total. This indicates a significant unwinding of leveraged bets on price increases, signaling a cooling of market sentiment from the “greed” territory.

    Liquidation Surge Highlights Leveraged Position Unwinding

    Data from CoinGlass revealed that as of 9 AM on December 13th, total 24-hour liquidations reached $770 million. The overwhelming majority, $685 million, comprised long positions, while short positions accounted for only $85 million. This stark imbalance underscores the heavy impact on bullish leveraged positions during the current pullback.

    Bitcoin has been on a downward trend since reaching a high of $86,790 on October 2nd, accumulating a decline of over 6% in the past two weeks. Ethereum has also retreated from its peak of $2,754. Both major cryptocurrencies have broken key psychological levels this week, triggering a cascade of liquidations.

    Broader Market Influences and Risk-Off Sentiment

    The downturn in the crypto market appears to be influenced by broader financial market trends. U.S. stocks closed mixed on Monday, December 12th, with the S&P 500 down 0.09% and the Nasdaq Composite falling 0.49%, while the Dow Jones Industrial Average rose 0.34%. This divergence saw capital shift away from large-cap tech stocks towards industrial and financial sectors.

    Concurrently, a strengthening U.S. dollar and elevated U.S. Treasury yields have continued to suppress risk assets. In the absence of significant new buying interest, cryptocurrencies have mirrored the correction seen in U.S. tech stocks.

    Altcoins Suffer Deeper Losses Amidst Risk Aversion

    Major altcoins experienced substantial declines. Solana was trading at $103.18, down 7.6% in the last 24 hours and briefly touching a low of $101.69. XRP was priced at $1.3233, a 6.2% decrease. The current sell-off has disproportionately affected high-beta cryptocurrencies, indicating a clear contraction in market risk appetite and a continued withdrawal from leveraged and speculative positions.

    Technical Indicators Suggest Weakening Momentum

    On a daily candlestick basis, Bitcoin closed at $81,850. Its 14-day Relative Strength Index (RSI) stands at 47.2, placing it in neutral territory. The moving average arrangement shows the closing price below the 20-day Simple Moving Average (SMA20) at $84,046, but above the 50-day SMA (SMA50) at $81,047 and the 200-day SMA (SMA200) at $72,083. The Moving Average Convergence Divergence (MACD) is in bearish territory, with its histogram widening compared to the previous day, suggesting continued weakening momentum.

    Immediate overhead resistance levels for Bitcoin are at the SMA20 ($84,046), the upper Bollinger Band ($86,404), and the 30-day high ($87,396). Downside support is found at the lower Bollinger Band ($81,688), the SMA50 ($81,047), and the 30-day low ($74,968). The current closing price is hovering near the lower Bollinger Band, indicating a potential battleground in this zone in the short term.

    Ethereum closed at $2,447. Its 14-day RSI is at 37.6, indicating a weaker position. The closing price is below the SMA20 ($2,636) and SMA50 ($2,556), but above the SMA200 ($2,137). The MACD is also in bearish alignment with an expanding histogram, further signaling weakening momentum.

    Key resistance for Ethereum includes the lower Bollinger Band ($2,456), the SMA50 ($2,556), and the SMA20 ($2,636). Downside support is located at the 30-day low ($2,359) and the SMA200 ($2,137).

    Fear and Greed Index Cools, Market Shifts Towards Neutral

    The Fear and Greed Index registered 57 on December 13th, a significant drop from the previous day’s 69. Over the past eight days, the index has fluctuated between 57 and 73, suggesting a shift from the “greed” zone towards a more neutral market sentiment.

    Bitcoin has retraced approximately 6% from its early October high. The ability of the cryptocurrency to reclaim the $84,000 level (SMA20 resistance) will be a key focus for bulls. Until pressures from the U.S. dollar and yields abate, risk appetite in the market is expected to remain cautious.

  • Bitcoin Drops Below $82K Amid $120M Crypto Long Liquidation

    Bitcoin Drops Below $82K Amid $120M Crypto Long Liquidation

    Bitcoin’s recent price dip below $82,000 triggered immediate losses for leveraged traders, with approximately $120 million in long positions across the cryptocurrency market being liquidated within a mere 15 minutes.

    Rapid Liquidation Event

    The sharp decline saw Bitcoin fall below the $82,000 threshold during intraday trading on October 12. As the price tumbled, cryptocurrency exchanges began to forcibly close leveraged long positions – bets placed by traders anticipating further price increases. This forced selling, known as liquidation, can create a cascading effect, as each automatic sell order adds downward pressure to the market.

    Data from analytics platforms like CoinGlass and Hyperliquid indicated a significant concentration of long positions among traders leading up to this market move. CoinGlass reported that these long positions constituted the majority of liquidations in recent events, suggesting that short-sellers, who bet on price declines, experienced a more favorable trading period.

    At the time of reporting, Bitcoin was trading in the low $82,000s. Traders were closely monitoring a support zone between $81,300 and $82,000, an area where buying interest has historically emerged.

    Previous Market Volatility

    This recent event follows a more substantial liquidation episode on October 8, when Bitcoin dropped below $81,000, reaching intraday lows between $80,400 and $80,500. That earlier slide resulted in over $1 billion in liquidations within a 24-hour period, predominantly affecting long positions, with an additional $696 million in related liquidations occurring concurrently.

    While Sunday’s $120 million liquidation figure may appear modest in comparison, the speed at which it occurred is noteworthy. The October 8 liquidations accumulated over a full day, whereas the latest event transpired in just a quarter of an hour.

    Both recent price drops followed a rally that had propelled Bitcoin to highs between $85,000 and $87,000 earlier in October. Profit-taking near the $87,000 peak is believed to have initiated the subsequent retreat.

    ETF Outflows and Market Dynamics

    Adding to the selling pressure, U.S. spot Bitcoin Exchange-Traded Funds (ETFs) reportedly experienced outflows totaling $487 million in a single day, diminishing a significant source of consistent buying demand.

    No major regulatory actions or protocol changes were reported in connection with this period of price volatility. The market swings appear to be primarily driven by traders unwinding leverage rather than any specific fundamental news.

    Following earlier sharp declines, Bitcoin has shown resilience, rebounding at one point to trade above $83,000.

    Key Levels to Watch

    The $81,300 to $82,000 support band remains a critical near-term level to monitor. A decisive break below this zone could trigger another wave of forced selling if traders continue to hold substantial leveraged positions.

    While a single day of $487 million in ETF outflows does not necessarily signal a sustained trend, continued redemptions would imply reduced institutional demand to absorb selling pressure when leveraged traders are liquidated.

    The October 8 low around $80,400 also serves as a key reference point. A return to this level would place the market back at the bottom reached during the day of over $1 billion in liquidations.

  • Sweeney Mocks Bets on Underwear, Dictator Deaths in New Novig Ad

    Sweeney Mocks Bets on Underwear, Dictator Deaths in New Novig Ad

    Sydney Sweeney Stars in New Novig Ad Targeting Industry Rivals

    Sydney Sweeney has returned for a new advertisement promoting Novig, a sports-only prediction market. The 30-second spot retains the “just sports” slogan introduced during the platform’s September launch. This latest campaign, however, sharpens its focus on what Novig describes as insider trading, bot activity, and the controversial inclusion of “war bets” on other industry platforms.

    The ad positions Novig as a dedicated space for sports predictions, implicitly contrasting it with competitors that offer a broader, and in Novig’s view, less focused, range of speculative markets. The “sports-only” approach is presented as a cleaner, more focused alternative for users interested solely in athletic contests.

  • Robinhood’s Chain Hits 100 Days Amid $15B Stock Token Trading Surge

    Robinhood’s Chain Hits 100 Days Amid $15B Stock Token Trading Surge

    Robinhood Chain Marks 100 Days with $15 Billion in Stock Token Trading Volume

    Robinhood Chain, a new Ethereum Layer-2 network, has reached its 100-day operational milestone, reporting a significant $15 billion in cumulative trading volume for its stock tokens. Launched on July 1, 2026, the network, built on the Arbitrum Orbit stack, has quickly established a presence in the tokenized equity market.

    Key Metrics and Adoption

    The headline figure of $15 billion in stock token volume since its inception highlights rapid adoption. September proved to be a particularly strong month, with Robinhood Chain capturing approximately 42% of the on-chain equity trading volume, equating to $6.57 billion.

    Beyond trading volume, the network reports around 200,000 holders for its stock tokens, offering a broader measure of user engagement. While trading volume can be influenced by a few active participants, the number of wallets suggests a wider user base.

    Decentralized Finance Integration

    The decentralized finance (DeFi) aspect of Robinhood Chain is also showing promise. The lending protocol Morpho reports approximately $1.1 billion deposited on the network. This activity primarily involves lending markets and vaults that utilize the tokenized assets, indicating that users are not just trading but actively employing these tokens within DeFi strategies.

    Token Structure and Access

    Robinhood’s Stock Tokens are structured as ERC-20 tokens, the standard for assets on Ethereum. Legally, they are classified as tokenized debt securities issued by Robinhood Assets (Jersey) Limited. Each token is backed 1:1 by the underlying equity held in custody, providing holders with economic exposure to U.S. stocks and ETFs, meaning they benefit from price movements. However, these tokens do not confer ownership or voting rights in the underlying companies.

    The tokens are available for trading 24/7 on decentralized exchanges like Uniswap. Users can also integrate them with protocols such as Morpho for lending or as collateral for loans. Currently, access to these tokens is restricted to users outside the United States, the United Kingdom, and Canada.

    Technical Foundation and Future Outlook

    Technically, Robinhood Chain utilizes ETH for gas fees and achieves block times under 100 milliseconds. The network has experienced swift growth in decentralized exchange (DEX) volume, user numbers, and total value locked, alongside occasional surges in memecoin trading. By building on Arbitrum Orbit, Robinhood Chain maintains connectivity to Ethereum’s liquidity and tooling while controlling its own settlement layer and customizing its network. Research indicates the offering is available in over 120 jurisdictions.

    The substantial deposit volume on Morpho suggests that users are leveraging the tokenized assets for more than just speculative trading, engaging them in yield-generating strategies and as collateral.

    Competitive Landscape and Limitations

    The tokenized equity market is becoming increasingly competitive, with networks like BNB Chain and Solana also vying for activity. While Robinhood Chain’s 42% market share in September is a strong position, it remains subject to market dynamics.

    The structure of the tokens as debt securities means holders rely on the issuer and custody arrangements, rather than direct share ownership. Furthermore, the exclusion of users from the U.S., UK, and Canada, markets that represent a significant portion of Robinhood’s existing customer base, presents a key variable for future growth.

  • Standard Chartered to Offer Ripple Stablecoin Trading in Dubai

    Standard Chartered to Offer Ripple Stablecoin Trading in Dubai

    Standard Chartered to Offer Custody of Ripple’s Stablecoin to Institutional Clients in Dubai

    Standard Chartered is set to provide institutional clients in Dubai with custody services for Ripple’s dollar-pegged stablecoin, RLUSD. The bank aims to enable these clients to trade the tokens without the need to transfer them to an exchange.

    Digital Asset Custody Infrastructure Expanded

    The British bank announced Monday that it now supports institutional custody of Ripple USD (RLUSD), issued on the XRP Ledger (XRPL). This offering grants eligible clients access to Standard Chartered’s digital asset custody infrastructure. The service is being rolled out through the bank’s branch in the Dubai International Financial Centre (DIFC), which operates under the regulation of the Dubai Financial Services Authority (DFSA).

    Custody in finance refers to the secure holding of assets by a regulated institution, which assumes responsibility for their safekeeping. While the institution manages and safeguards the assets, it also gains the authority to supervise, freeze, and control funds under its custody.

    RLUSD is a stablecoin, a type of cryptocurrency designed to maintain a stable value pegged at $1. It is backed by U.S. dollars, U.S. government bonds, and cash equivalents. Ripple launched RLUSD in December 2024 on both Ethereum and the XRP Ledger, a public blockchain closely associated with Ripple. Standard Chartered’s new service specifically covers the XRP Ledger version of the stablecoin.

    Integration with LMAX Group for Collateral Use

    In parallel, Standard Chartered has joined a planned integration with LMAX Group, a London-based marketplace for currencies and cryptocurrencies. This collaboration is intended to make RLUSD eligible as collateral on agreed LMAX products. Collateral, also known as margin, is funds deposited by a trader with a trading venue as a safeguard against potential losses.

    Under a system Standard Chartered terms “collateral mirroring,” RLUSD will remain in the bank’s custody. LMAX will receive a mirrored record of the collateral’s value, which will then count towards the client’s trades. This arrangement means the stablecoins themselves will not be transferred to the exchange.

    The collateral mirroring mechanism offers a potential advantage in the event of an exchange failure. If an exchange were to collapse, a trader’s collateral would remain secured at Standard Chartered, a bank designated by the Financial Stability Board as one of the 29 institutions considered “too big to fail” and subject to more stringent capital regulations.

    Waqar Chaudry, who leads digital assets within the bank’s securities services unit, stated, “Institutional clients want to participate in digital asset markets without compromising on how their assets are safeguarded.”

    Standard Chartered has been providing crypto custody services in Dubai since 2024. In July, the bank announced it was the first globally systemically important bank to allow institutions to mint and redeem Circle’s USDC directly.

    RLUSD received regulatory approval from Dubai authorities in June 2025. The integration with LMAX is not yet operational. The bank indicated that the process is subject to final documentation, testing, and regulatory approvals, and did not provide a specific timeline for when clients will be able to use RLUSD as margin.

  • Solana Treasury Firm Buys SOL Amid Record CHAD Preferred Stock

    Solana Treasury Firm Buys SOL Amid Record CHAD Preferred Stock

    DeFi Development Corp Boosts Solana Holdings Amid Market Volatility

    DeFi Development Corp (DFDV), a Nasdaq-listed entity focused on Solana, significantly expanded its treasury last week by acquiring approximately 22,070 SOL tokens, valued at around $2.37 million, along with other “SOL equivalents,” according to a press release issued Monday.

    This latest acquisition brings DFDV’s total holdings to roughly 2,586,282 SOL tokens, currently worth approximately $287 million, with SOL trading near $111. The company’s weekly SOL purchases have shown a declining trend, decreasing from 101,381 SOL (approximately $11.4 million) in mid-September to 47,706 SOL ($5.8 million), and most recently to 26,202 SOL ($3.1 million).

    DFDV operates as a digital asset treasury company, enabling public investors to gain exposure to cryptocurrency without direct account ownership. The firm was formerly known as Janover, a real estate software company, before pivoting to a Solana-centric strategy in April 2025 and adopting a model similar to Strategy’s Bitcoin approach.

    Perpetual Preferred Stock Reaches New Highs

    The company’s perpetual preferred stock, branded as CHAD, achieved an all-time high in the week ending October 9, nearing the $10 mark. Perpetual preferred shares do not have a maturity date and receive dividends before common stockholders. CHAD offers a variable annual dividend of 13% on its $10 stated value, equating to $1.30 per share, with declarations made daily.

    “CHAD reaching new highs and approaching $10.00 even as SOL pulled back is an encouraging sign that investors are recognizing its distinct income proposition,” stated Dan Kang, Chief Strategy Officer. He added, “For common shareholders, CHAD provides a funding source that can support accretive SOL per share growth without issuing additional common shares. For CHAD holders, it offers daily income supported by that growing, productive treasury.”

    However, the significance of this record price is tempered by the fact that CHAD shares were priced at $8 during their initial public offering in September, below their stated par value. Last week, DFDV also authorized share buybacks for instances where CHAD trades below its $10 par value, suggesting a concerted effort to support its price.

    Funding Strategy and Market Pressures

    DFDV finances its SOL acquisitions through a $300 million at-the-market program, which involves the gradual sale of new CHAD shares at prevailing market prices. The closer CHAD’s trading price is to $10, the more SOL can be purchased with each newly issued share.

    “Short-term volatility has not changed our conviction or our commitment to accumulating SOL,” commented CEO Joseph Onorati in the press release.

    The broader cryptocurrency market has experienced significant fluctuations. SOL saw a decline of approximately 9% over the past seven days, and nearly $1 billion in long positions were liquidated within a 24-hour period. Liquidation occurs when traders using leverage face margin calls due to price drops, leading to automatic selling that can further depress prices.

    Dividend Sustainability and Company Valuation

    While a 13% dividend may appear attractive, CHAD is backed by a company whose primary asset, SOL, is trading approximately 62% below its January 2025 peak of around $295. The company’s own press release acknowledges that staking rewards may not be sufficient to cover dividend payments.

    DFDV’s common stock was trading near $4.41 on Monday, giving it a market capitalization of approximately $140 million. This valuation is roughly half the value of its SOL holdings, although the company also carries debt. When a treasury company’s stock trades below the value of its cryptocurrency reserves, the rationale for selling shares to acquire more tokens diminishes, contributing to pressure within the sector.

    CHAD holders are set to continue receiving a daily dividend of $0.00516 per share through October 30. The next significant economic indicator for the market is expected on Wednesday with the release of the U.S. September inflation report.

  • ICP Surges 14% Daily, Further Gains Expected

    ICP Surges 14% Daily, Further Gains Expected

    Internet Computer (ICP) Surges 14% in a Day, Analysts Eye Further Gains

    New York, NY – October 12, 2023 – The popular altcoin Internet Computer (ICP) is experiencing a significant surge today, marking one of the best-performing cryptocurrencies with a double-digit increase pushing its price to approximately $3.40. This notable upward movement has captured the attention of prominent analysts, who suggest the token could be poised for further appreciation in the near future, bolstered by supportive technical indicators.

    Analyst Optimism and Technical Signals

    Among those bullish on ICP is X user Lucky, who pointed to the cryptocurrency’s robust uptrend and ample room for growth, projecting a potential climb beyond $8. Lucky, who commands a following of nearly two million, also highlighted ICP’s “loudest and most passionate communities in crypto.”

    Analyst CW echoed this sentiment, having previously predicted that a break above the $3.39 mark, which has now occurred, would signal a return to bullish territory for ICP. Meanwhile, EliZ stated that the price action has unfolded precisely as forecasted, anticipating an ascent past $4.

    Adding to the optimistic outlook, WIZZ noted that Internet Computer historically performs well in the final quarter of the year. WIZZ confirmed their own investment in the asset, indicating no plans to divest in the coming months.

    However, a closer examination of historical data reveals a mixed performance for ICP in Q4. While the token has finished the fourth quarter in negative territory in three out of the last five years, the final quarter of 2023 has already proven exceptionally strong, with its price skyrocketing by over 320%.

    RSI and Exchange Netflow Support Bullish Case

    Further reinforcing the optimistic projections, ICP’s Relative Strength Index (RSI) suggests that the price may indeed align with the analysts’ expectations. This technical analysis tool, which measures the speed and magnitude of price changes, is currently positioned just above the 70 mark, a level typically interpreted as indicating strong upward momentum and potentially signaling an impending correction, but currently supporting the bullish narrative.

    The asset’s exchange netflow also warrants attention. In recent weeks, outflows from exchanges have consistently outnumbered inflows. This trend suggests a shift among investors towards self-custody, thereby reducing immediate selling pressure on the market.

  • Bitfinex Securities Launches Tokenized Funds with Tether’s Hadron

    Bitfinex Securities Launches Tokenized Funds with Tether’s Hadron

    Bitfinex Securities has launched capital raises for two tokenized funds managed by CMCC Global, broadening its platform with dollar and Bitcoin-denominated investment strategies.

    New Tokenized Funds Expand Investment Options

    The new offerings encompass the Crest Fund and the Liberty Bitcoin Accumulation Fund (LBAF). Both funds are being tokenized utilizing Tether’s Hadron platform, according to a press release. Subscriptions are open to eligible investors until October 29, with secondary trading anticipated to commence after the capital raises conclude. Bitfinex Securities stated these products mark the debut of tokenized funds of funds issued under El Salvador’s digital asset regulatory framework.

    CMCC Global, in partnership with Bitcoin analyst Willy Woo, co-founded both funds. Crest was launched in March 2022, while LBAF began operations in April 2025. Both funds allocate capital to quantitative managers employing strategies such as funding rate arbitrage, market making, and cross-exchange arbitrage within decentralized finance (DeFi).

    Investment Strategies and Return Targets

    The Crest Fund is denominated in U.S. dollars and aims to achieve returns exceeding those of U.S. Treasury bills. The LBAF, conversely, measures its returns in Bitcoin and targets net annualized returns between 8% and 12%, as detailed by Martin Baumann, Managing Partner at CMCC Global.

    “Both funds leverage diversified portfolios of quantitative, market-neutral strategies, rather than relying primarily on the directional performance of digital-asset markets,” Baumann explained. CMCC Global has previously characterized LBAF as a strategy designed to generate Bitcoin-denominated yield through quantitative trading, with its return targets expressed in Bitcoin rather than U.S. dollars.

    Token Details and Investor Benefits

    CREST tokens will be issued at $10 each, and LBAF tokens at 0.0001 BTC each. The minimum investment requirement is one token, subject to investor eligibility and verification.

    The offerings include a six-month period post-listing during which performance fees will be reduced by 50%, and redemption fees will be waived. These benefits will extend to tokens traded on the secondary market for the remainder of this introductory period.

    Fund Structure and Compliance

    Both funds are structured as segregated portfolios under CMCC Global SPC in the Cayman Islands. The tokens represent economic interests in underlying participating shares held in trust by BFXS (PTC) Limited. Tokens will be minted against these underlying shares and subsequently burned upon redemption. All transfers will be subject to identity verification and anti-money laundering controls. Eligible investors will have the ability to hold tokens in approved wallets and trade them 24/7 on Bitfinex Securities.

    Tether introduced Hadron in November 2024 as a platform for the issuance and management of tokenized assets, including equities, debt, and funds. The platform’s capabilities include token issuance and burning, compliance, and lifecycle management.

    These new offerings enhance Bitfinex Securities’ product suite, which already includes tokenized debt, Bitcoin hashrate contracts, and U.S. Treasury bills. The company reports listing over $500 million in assets and recently concluded a $50 million capital raise for Alkemya Metacore, its largest to date.

  • XRP Faces Uncertainty After Resistance Rejection

    XRP Faces Uncertainty After Resistance Rejection

    XRP’s recent surge has faltered near the $1.40 mark, following a significant downturn from its prior consolidation phase. While buyers have shown interest around a key demand area, the cryptocurrency’s price is currently struggling to overcome immediate resistance and remains within a corrective pattern.

    On the daily chart, Ripple’s native token has continued its corrective move after being rejected from the $1.61-$1.70 resistance zone. The latest sell-off saw the price dip below the $1.48-$1.50 consolidation range, with a notable lower wick extending to approximately $1.32 before buyers intervened. Subsequent trading sessions have shown stabilization around $1.40, though the recovery has lacked sustained momentum.

    The $1.25-$1.32 demand zone is proving to be a critical level. This area coincides with the 100-day and 200-day moving averages, which are situated near $1.265 and $1.281, respectively. The upward trajectory of the 100-day average, as it approaches the 200-day average from below, hints at a potential bullish crossover, though this remains unconfirmed. Concurrently, the daily Relative Strength Index (RSI) hovers around 45, indicating that momentum is still below the neutral mark despite the recent bounce.

    Sustaining the current demand zone could help preserve the broader recovery trend and pave the way for another attempt at the $1.48-$1.52 resistance area. Beyond that, the $1.61-$1.70 supply zone stands as the primary obstacle to further upside. Conversely, a decisive break below $1.25 would undermine the recovery structure and expose the next significant support zone, located between $1.11 and $1.18.

    Technical Outlook on Shorter Timeframes

    The 4-hour chart illustrates XRP trading within a descending channel, characterized by a series of lower highs that reinforce the corrective trend. The recent decline saw the price breach the $1.43-$1.45 support level before briefly touching the channel’s lower boundary near $1.32. Buyers then initiated a rebound, pushing the price back towards $1.42, where it encountered renewed selling pressure.

    The former $1.43-$1.45 demand zone has now transitioned into an overhead resistance area. Its proximity to the upper boundary of the descending channel presents a substantial hurdle for upward price movement. A sustained push above both these levels would offer an initial indication that selling pressure is abating and could potentially open the path towards the $1.48-$1.52 resistance region.

    Until such a breakout materializes, the current rebound appears to be a corrective phase. A loss of immediate support around $1.38 would bring the $1.34-$1.35 area back into focus, followed by the more significant $1.25-$1.32 demand zone. Consequently, the market’s reaction to the $1.43-$1.45 resistance area will be pivotal in determining whether XRP can break free from its descending channel or remains susceptible to further declines.