Industry News

Tracks company news, strategic changes, funding activities, and personnel adjustments across the blockchain and crypto industries, delivering a full-spectrum industry overview for our users.

Wall Street’s $4 quadrillion backbone to roll out tokenized US Treasurys

The Depository Trust and Clearing Corporation (DTCC) announced plans to bring tokenized US Treasurys onchain through the Canton Network, a permissioned blockchain. This initiative, starting with US Treasury securities, is part of a broader roadmap to eventually tokenize a wide range of assets. The project received a no-action letter from the SEC, allowing it to operate without enforcement risk for three years. A minimum viable product is expected by the first half of 2026. While this marks a significant step toward onchain capital markets, analysts note that full integration with decentralized finance may take time due to technological and regulatory developments.

cointelegraph12/17 13:01

Wall Street’s $4 quadrillion backbone to roll out tokenized US Treasurys

cointelegraph12/17 13:01

New Coinbase report points to ‘broken’ traditional finance system: Armstrong

Coinbase CEO Brian Armstrong states that the traditional financial system is broken, pushing younger investors toward alternative assets like crypto. According to Coinbase’s "State of Crypto" report, Gen Z and millennial investors allocate 25% of their portfolios to non-traditional assets—three times more than older generations. They trade more frequently, use higher-risk strategies like margin trading, and show strong interest in 24/7 markets and crypto derivatives. Nearly 75% believe it's harder to build wealth through traditional means, and many see crypto as a key opportunity. They also rely more on self-directed research and social media for investment cues rather than traditional advisors.

cointelegraph12/17 12:55

New Coinbase report points to ‘broken’ traditional finance system: Armstrong

cointelegraph12/17 12:55

Paradigm's First Investment in a Brazilian Company: What's the Logic Behind It?

Paradigm has made its first investment in a Brazilian company, leading a $13.5 million Series A round in Crown, a stablecoin issuer, at a $90 million valuation. This investment, alongside a previous $8.1 million seed round, highlights strong institutional confidence in Crown’s potential despite its current small market size—BRLV, Crown’s Brazilian real-backed stablecoin, has a circulating supply worth under $20 million. Crown’s appeal lies in its experienced founding group, including former executives from major Brazilian fintech firms like Nubank and Xerpa, and a vision to use stablecoins to support Brazil’s national treasury while offering yield to holders. Brazil represents a strategic market due to its high crypto adoption (ranking fifth globally), a large unbanked population, and a supportive regulatory environment, including the widely-used Pix instant payment system. Unlike many emerging economies, Brazil’s growing fintech ecosystem and reduced inflation make local currency stability viable, creating opportunities for real-backed stablecoins to integrate with existing infrastructure and serve both domestic and cross-border use cases.

比推12/17 12:49

Paradigm's First Investment in a Brazilian Company: What's the Logic Behind It?

比推12/17 12:49

HashKey Raises $206M in Hong Kong IPO Despite Trading Swings

HashKey Holdings, Hong Kong's leading cryptocurrency exchange, successfully raised $206 million in its IPO and began trading on the Hong Kong Stock Exchange, marking a significant milestone as the first Asian digital asset firm to go public in the city. The offering saw overwhelming demand, with the Hong Kong portion oversubscribed 394 times and the international portion 5.5 times. Despite strong investor interest, the stock experienced notable volatility on its first trading day, initially rising to $0.91 before falling to around $0.84, slightly below the IPO price. Chairman and CEO Xiao Feng emphasized the company’s commitment to compliance, security. The listing reinforces Hong Kong’s position as a key hub for regulated digital asset businesses in Asia.

TheNewsCrypto12/17 12:42

HashKey Raises $206M in Hong Kong IPO Despite Trading Swings

TheNewsCrypto12/17 12:42

Solana Foundation Outlines Plans To Combat Emerging Quantum Computing Risks

The Solana Foundation has announced a collaboration with Project Eleven to address the emerging security threats posed by quantum computing to its blockchain. The initiative includes a comprehensive threat assessment and a successful prototyping of a post-quantum digital signature system on a Solana testnet, demonstrating that quantum-resistant transactions can be practical and scalable. The analysis evaluated potential risks to user wallets, validator security, and the network's foundational cryptography. Industry experts warn that quantum computers could eventually break current cryptographic safeguards, potentially exposing private keys. Solana's proactive stance aligns with broader efforts in the crypto industry to integrate post-quantum cryptography, with several other projects already implementing quantum-resistant solutions. Solana co-founder Anatoly Yakovenko has urged accelerated action, estimating a 50% chance of a significant quantum computing breakthrough within five years.

bitcoinist12/17 12:31

Solana Foundation Outlines Plans To Combat Emerging Quantum Computing Risks

bitcoinist12/17 12:31

HashKey Falls Below IPO Price on First Day of Trading, 'The Eastern Coinbase' Not Yet Established

HashKey Holdings (stock code: 03887.HK), known as the first Hong Kong-listed cryptocurrency exchange, debuted on the Hong Kong Stock Exchange on December 17. Despite strong pre-IPO interest—with its public offering oversubscribed by nearly 394 times—the stock price fell below its initial offering price of HK$6.68 within the first hour of trading. It closed the day at HK$6.67 after hitting a low of HK$6.12. The market response contrasts sharply with earlier optimism from crypto industry participants, who had hailed HashKey as a milestone for Hong Kong’s Web3 sector and even dubbed it the "Eastern Coinbase." However, the article points out significant gaps between HashKey and Coinbase in terms of scale: HashKey has only 138,000 registered users and average daily trading volumes in the millions of dollars, far below Coinbase’s pre-IPO user base of 56 million and billions in daily trades. HashKey has reported four consecutive years of losses, which the company attributes to high investment in technology and compliance during its early development phase. The IPO raised approximately HK$1.67 billion, with 40% earmarked for technology upgrades and another 40% for market expansion. The listing is seen by some as a symbolic step toward broader acceptance of crypto in traditional finance, yet the author suggests HashKey’s successful listing may remain an isolated case in Hong Kong. This is largely due to the influential backing of its major shareholder, Lu Weiding—chairman of Wanxiang Group and a prominent business and political figure—whose support may be difficult for other crypto firms to replicate under current regulatory conditions.

Odaily星球日报12/17 12:05

HashKey Falls Below IPO Price on First Day of Trading, 'The Eastern Coinbase' Not Yet Established

Odaily星球日报12/17 12:05

RWA Weekly Report｜On-Chain Total Value Rises Again; U.S. SEC Issues Crypto Asset Custody Guidance (12.10-12.17)

RWA Weekly Report: On-Chain Value Rebounds; SEC Issues Crypto Custody Guidance (Dec 10–17) The total distributed asset value (DAV) of real-world assets (RWA) on-chain rose to $18.74 billion, up 1.63% from the previous week, ending a period of stagnation. The represented asset value (RAV) increased 4.92% to $410.38 billion, marking the largest weekly gain in two months. The number of asset holders grew by over 14,000 to 575,752. Stablecoin market cap slightly declined to $300.18 billion, but user numbers increased by 1.42% to 210.72 million. U.S. Treasuries remained the largest asset class but decreased marginally to $8.7 billion. Commodity assets grew to $3.2 billion, while private credit saw a modest rise to $2.4 billion. Public equities and non-U.S. government debt also increased, whereas private equity slightly declined. Key developments include the U.S. Congress urging the SEC to allow cryptocurrencies in 401(k) plans, the SEC releasing crypto custody guidance emphasizing wallet risks, and approving DTCC to custody tokenized stocks and RWAs on blockchain. Nasdaq proposed extending trading hours to 23 hours daily to align with crypto markets. Visa began USDC settlement via Solana for U.S. banks. Ondo Finance announced plans to launch tokenized stocks and ETFs on Solana in early 2026 after the SEC closed its investigation without charges. MSX (STONKS) reported a record $2 billion in daily trading volume and is preparing for potential official tokenized stock adoption following Nasdaq’s SEC application.

Odaily星球日报12/17 11:15

RWA Weekly Report｜On-Chain Total Value Rises Again; U.S. SEC Issues Crypto Asset Custody Guidance (12.10-12.17)

Odaily星球日报12/17 11:15

Polymarket shows stronger retention than most DeFi, wallets and exchanges

Polymarket demonstrates significantly higher user retention rates compared to most crypto projects, including DeFi platforms, wallets, and exchanges, according to data from Dune Analytics and Keyrock. The report, which sampled 275 crypto entities, found that Polymarket outperformed over 85% of protocols in keeping users active beyond their first month. This strong retention is attributed to its event-driven model, which ties engagement to real-world occurrences like elections and sports, fostering recurring participation rather than relying on short-term speculation or incentives. As a result, major crypto platforms—including Coinbase, Gemini, Phantom, and Bitnomial—are increasingly integrating prediction markets to boost sustained user engagement.

cointelegraph12/17 11:01

Polymarket shows stronger retention than most DeFi, wallets and exchanges

cointelegraph12/17 11:01

KuCoin taps Tomorrowland festivals as MiCA-era on-ramp for European fans

KuCoin has signed an exclusive multi-year partnership with Tomorrowland music festivals from 2026 to 2028, becoming the event's official crypto and payments partner. This follows KuCoin’s recent acquisition of a MiCA-regulated license in the EU, allowing it to operate as a fully compliant crypto service provider. The collaboration aims to integrate cryptocurrency seamlessly into festival operations—including ticketing, merchandise, and concessions—without disrupting the user experience. Emphasizing security and regulatory compliance, KuCoin seeks to position crypto as a mainstream financial tool, learning from past failed Web3 partnerships like FTX’s with Tomorrowland. The goal is a smooth, invisible integration of digital assets into live events.

cointelegraph12/17 10:45

KuCoin taps Tomorrowland festivals as MiCA-era on-ramp for European fans

cointelegraph12/17 10:45

Visa Launches Stablecoin Settlement For US Financial Institutions With Circle’s USDC

Global payments leader Visa has expanded its stablecoin settlement capabilities to the United States, enabling financial institutions to settle transactions with Visa using Circle’s USDC stablecoin on the Solana blockchain. This initiative, part of Visa's broader strategy to modernize its settlement infrastructure, offers partners like Cross River Bank and Lead Bank faster fund movement, 24/7 availability, and enhanced operational efficiency without altering the consumer card experience. Visa also plans to utilize Circle’s upcoming Arc blockchain and has launched a Stablecoins Advisory Practice to guide businesses on strategy and implementation. The company reported $3.5 billion in stablecoin settlement volume as of late November, highlighting growing institutional adoption.

bitcoinist12/17 10:41