Lords force UK Treasury toward a written crypto strategy, Labour resists
Stack
- 194–138: Lords vote margin forcing Treasury's hand on crypto strategy
- 12 months: statutory deadline for Treasury to publish once the bill becomes law
- July: Labour minister told peers a strategy already exists and is "being executed"
Story
This isn't a crypto policy win yet, it's a procedural skirmish. Labour can still strip the amendment in the Commons, and its July line that a strategy "already exists" shows zero shift in position.
Watch
- Watch whether the Commons keeps, amends or kills Amendment 88 when the bill returns
- Watch for any Treasury document clarifying what its current strategy contains
Full read: https://stackandstory.com/stories/uk-lords-mandatory-digital-asset-strategy
Stack
- 194–138: Lords vote margin forcing Treasury's hand on crypto strategy
- 12 months: statutory deadline for Treasury to publish once the bill becomes law
- July: Labour minister told peers a strategy already exists and is "being executed"
Story
This isn't a crypto policy win yet, it's a procedural skirmish. Labour can still strip the amendment in the Commons, and its July line that a strategy "already exists" shows zero shift in position.
Watch
- Watch whether the Commons keeps, amends or kills Amendment 88 when the bill returns
- Watch for any Treasury document clarifying what its current strategy contains
Full read: https://stackandstory.com/stories/uk-lords-mandatory-digital-asset-strategy
Bitcoin ETFs shed $449M in three days, ARK alone lost $164M
Stack
- ARKB's single-day outflow ($164M) was 58% of the entire market's $282.6M loss
- Ether ETFs gave back $29.8M, almost exactly Wednesday's $34.8M inflow
- Cumulative inflows still sit at $55.17B against $97.5B in total assets
Story
This reads like a market cooling off, not turning. One fund, ARKB, drove more than half the outflow, and Ether's flows just round-tripped what came in a day earlier.
Watch
- Watch if ARKB's outflow repeats over the next two sessions
- Watch if cumulative net inflows dip below $54B
Full read: https://stackandstory.com/stories/bitcoin-etf-outflows-449m-three-days
Stack
- ARKB's single-day outflow ($164M) was 58% of the entire market's $282.6M loss
- Ether ETFs gave back $29.8M, almost exactly Wednesday's $34.8M inflow
- Cumulative inflows still sit at $55.17B against $97.5B in total assets
Story
This reads like a market cooling off, not turning. One fund, ARKB, drove more than half the outflow, and Ether's flows just round-tripped what came in a day earlier.
Watch
- Watch if ARKB's outflow repeats over the next two sessions
- Watch if cumulative net inflows dip below $54B
Full read: https://stackandstory.com/stories/bitcoin-etf-outflows-449m-three-days
Anchorage adds custody for a stablecoin with $100K locked
Stack
- Frgmnt holds about $100,000 in TVL per DeFiLlama
- sfUSD offered 13.32% APR as of Sept. 4
- Anchorage's platform was valued at $4.2B in February
Story
A $4.2B chartered bank just built custody rails for a protocol worth $100K. This is a distribution bet ahead of Frgmnt's Sept. 15 public launch, not a sign institutional money has already moved.
Watch
- Does TVL grow materially after the Sept. 15 cap lift and public launch
- Does sfUSD's 13.32% APR hold as deposits scale up
Full read: https://stackandstory.com/stories/anchorage-frgmnt-fusd-stablecoin
Stack
- Frgmnt holds about $100,000 in TVL per DeFiLlama
- sfUSD offered 13.32% APR as of Sept. 4
- Anchorage's platform was valued at $4.2B in February
Story
A $4.2B chartered bank just built custody rails for a protocol worth $100K. This is a distribution bet ahead of Frgmnt's Sept. 15 public launch, not a sign institutional money has already moved.
Watch
- Does TVL grow materially after the Sept. 15 cap lift and public launch
- Does sfUSD's 13.32% APR hold as deposits scale up
Full read: https://stackandstory.com/stories/anchorage-frgmnt-fusd-stablecoin
Ripple's stablecoin chief eyes $13T in corporate cash for RLUSD
Stack
- RLUSD supply sits near $700M against a claimed $13T addressable market
- Tether's cap is near $172B, USDC near $73B, the incumbents RLUSD trails
- Visa's stablecoin settlement already runs at a $20B annualized rate
Story
Ripple is pitching RLUSD against money market funds, not against Tether. The catch: GENIUS Act rules block stablecoins from paying interest directly, so the yield argument that wins treasurers over doesn't exist yet.
Watch
- Watch for nine-figure corporate treasury disclosures naming RLUSD holdings
- Watch whether a compliant yield-bearing wrapper around RLUSD launches
Full read: https://stackandstory.com/stories/rlusd-13-trillion-corporate-treasury
Stack
- RLUSD supply sits near $700M against a claimed $13T addressable market
- Tether's cap is near $172B, USDC near $73B, the incumbents RLUSD trails
- Visa's stablecoin settlement already runs at a $20B annualized rate
Story
Ripple is pitching RLUSD against money market funds, not against Tether. The catch: GENIUS Act rules block stablecoins from paying interest directly, so the yield argument that wins treasurers over doesn't exist yet.
Watch
- Watch for nine-figure corporate treasury disclosures naming RLUSD holdings
- Watch whether a compliant yield-bearing wrapper around RLUSD launches
Full read: https://stackandstory.com/stories/rlusd-13-trillion-corporate-treasury
Revolut leaked KYC and BTC data via a fake gov't domain request
Stack
- Attackers spoofed a government domain to pull real KYC records
- Exposed data paired identity info with Bitcoin transaction history
- ZachXBT flagged the incident as possibly targeting high-net-worth users
Story
This isn't a generic data leak. Pairing KYC with wallet history is exactly what you'd need to turn anonymous balances into a target list of real people.
Watch
- Watch whether Revolut discloses a confirmed count of affected accounts
- Watch for unusual onchain movement tied to exposed wallets in coming weeks
Full read: https://stackandstory.com/stories/revolut-kyc-bitcoin-data-fake-govt-domain
Stack
- Attackers spoofed a government domain to pull real KYC records
- Exposed data paired identity info with Bitcoin transaction history
- ZachXBT flagged the incident as possibly targeting high-net-worth users
Story
This isn't a generic data leak. Pairing KYC with wallet history is exactly what you'd need to turn anonymous balances into a target list of real people.
Watch
- Watch whether Revolut discloses a confirmed count of affected accounts
- Watch for unusual onchain movement tied to exposed wallets in coming weeks
Full read: https://stackandstory.com/stories/revolut-kyc-bitcoin-data-fake-govt-domain
Italy's second-biggest bank is shopping for a crypto custody vendor
Stack
- Cecabank, managing €400B+, went live with crypto custody in June via Bit2Me
- UniCredit is one of 37 banks across 15 countries building a euro stablecoin under Qivalis
- BBVA built its own custody stack rather than using a third-party vendor
Story
This isn't a bitcoin bet, it's a licensing race. MiCA gave banks a legal box to check, and five of them are checking it inside the same twelve months.
Watch
- Watch which custody vendor UniCredit signs
- Watch whether retail clients get access or only professional ones
Full read: https://stackandstory.com/stories/unicredit-crypto-custody-italy
Stack
- Cecabank, managing €400B+, went live with crypto custody in June via Bit2Me
- UniCredit is one of 37 banks across 15 countries building a euro stablecoin under Qivalis
- BBVA built its own custody stack rather than using a third-party vendor
Story
This isn't a bitcoin bet, it's a licensing race. MiCA gave banks a legal box to check, and five of them are checking it inside the same twelve months.
Watch
- Watch which custody vendor UniCredit signs
- Watch whether retail clients get access or only professional ones
Full read: https://stackandstory.com/stories/unicredit-crypto-custody-italy
TRM says AI agents barely touch the $52.7M moving through x402
Stack
- $52.7M moved across 198.9M x402 settlements, per TRM's review
- Filtering self-payments and anomalies cut that to $25.62M in likely commerce
- Agents accounted for a small share under even that reduced total
Story
The agentic economy pitch says AI agents are already paying their own way. TRM's numbers say almost half the volume is test traffic and the rest is mostly humans.
Watch
- Next TRM cut showing agent-attributed share actually rising
- Integrators disclosing self-payment volume separately from real commerce
Full read: https://stackandstory.com/stories/x402-protocol-ai-agent-spending-research
Stack
- $52.7M moved across 198.9M x402 settlements, per TRM's review
- Filtering self-payments and anomalies cut that to $25.62M in likely commerce
- Agents accounted for a small share under even that reduced total
Story
The agentic economy pitch says AI agents are already paying their own way. TRM's numbers say almost half the volume is test traffic and the rest is mostly humans.
Watch
- Next TRM cut showing agent-attributed share actually rising
- Integrators disclosing self-payment volume separately from real commerce
Full read: https://stackandstory.com/stories/x402-protocol-ai-agent-spending-research
Circle pays $400M for licenses it can't build itself
Stack
- Circle is paying roughly $400M for Tazapay, a Singapore payments firm
- Tazapay's value sits in emerging-market banking licenses built over years
- USDC growth increasingly hinges on local fiat on/off-ramps in those markets
Story
This isn't a tech buy. Circle is paying $400M for regulatory permission it can't earn any faster any other way.
Watch
- Watch USDC volume growth in Tazapay's licensed markets over 2-3 quarters
- Watch for local regulators confirming license transfer to Circle
Full read: https://stackandstory.com/stories/circle-400m-tazapay-emerging-market-access
Stack
- Circle is paying roughly $400M for Tazapay, a Singapore payments firm
- Tazapay's value sits in emerging-market banking licenses built over years
- USDC growth increasingly hinges on local fiat on/off-ramps in those markets
Story
This isn't a tech buy. Circle is paying $400M for regulatory permission it can't earn any faster any other way.
Watch
- Watch USDC volume growth in Tazapay's licensed markets over 2-3 quarters
- Watch for local regulators confirming license transfer to Circle
Full read: https://stackandstory.com/stories/circle-400m-tazapay-emerging-market-access
Mexico finds its fourth hidden crypto mine near the same dam since 2025
Stack
- Fourth crypto farm found in the same area since early 2025, per Reuters via The Block
- Site sits near a local hydroelectric dam, same power source as three prior raids
- Charges cover both stolen electricity and money laundering, two separate revenue streams
Story
Four raids near one dam in eighteen months means someone keeps finding the same hole in the grid, or the same operators keep rebuilding after getting caught.
Watch
- Watch for seized equipment or stolen power figures in follow-up filings
- Watch for a fifth site near the same dam within six to twelve months
Full read: https://stackandstory.com/stories/mexico-fourth-hidden-crypto-mine-power-theft
Stack
- Fourth crypto farm found in the same area since early 2025, per Reuters via The Block
- Site sits near a local hydroelectric dam, same power source as three prior raids
- Charges cover both stolen electricity and money laundering, two separate revenue streams
Story
Four raids near one dam in eighteen months means someone keeps finding the same hole in the grid, or the same operators keep rebuilding after getting caught.
Watch
- Watch for seized equipment or stolen power figures in follow-up filings
- Watch for a fifth site near the same dam within six to twelve months
Full read: https://stackandstory.com/stories/mexico-fourth-hidden-crypto-mine-power-theft
Trump backs tougher ethics rules in Clarity Act's final push
Stack
- Revised Clarity Act text dropped Sunday, two days before the Tuesday floor vote
- Republicans call it their "last, best and final offer," leaving no room to renegotiate
- Bill concedes ground on both DeFi and stablecoin provisions that had stalled talks
Story
The ethics rules are the cheap part of this deal. The real price Republicans paid was loosening DeFi and stablecoin restrictions, which is what the industry wanted all along.
Watch
- Does Tuesday's vote get enough Democratic crossovers to pass?
- Do the final DeFi and stablecoin terms match Sunday's draft?
Full read: https://stackandstory.com/stories/clarity-act-ethics-trade-crypto-votes
Stack
- Revised Clarity Act text dropped Sunday, two days before the Tuesday floor vote
- Republicans call it their "last, best and final offer," leaving no room to renegotiate
- Bill concedes ground on both DeFi and stablecoin provisions that had stalled talks
Story
The ethics rules are the cheap part of this deal. The real price Republicans paid was loosening DeFi and stablecoin restrictions, which is what the industry wanted all along.
Watch
- Does Tuesday's vote get enough Democratic crossovers to pass?
- Do the final DeFi and stablecoin terms match Sunday's draft?
Full read: https://stackandstory.com/stories/clarity-act-ethics-trade-crypto-votes
WTO: stablecoins stuck at 3% of trade payments, rules are why
Stack
- Stablecoins are just 3% of global trade payments, per WTO
- Only 11 of 28 jurisdictions have finished stablecoin rules, per FSB
- Stablecoin cross-border use grew 35x from 2020 to mid-2024
Story
The 3% number reads like stalled adoption. The 35x growth number says the tech already works, the rulebook just hasn't shown up.
Watch
- FSB's next framework count, watching if 11-of-28 rises by end of 2026
- Western Union's wallet expansion from 37 to 60-plus markets
Full read: https://stackandstory.com/stories/stablecoins-stall-at-3-percent-trade-payments
Stack
- Stablecoins are just 3% of global trade payments, per WTO
- Only 11 of 28 jurisdictions have finished stablecoin rules, per FSB
- Stablecoin cross-border use grew 35x from 2020 to mid-2024
Story
The 3% number reads like stalled adoption. The 35x growth number says the tech already works, the rulebook just hasn't shown up.
Watch
- FSB's next framework count, watching if 11-of-28 rises by end of 2026
- Western Union's wallet expansion from 37 to 60-plus markets
Full read: https://stackandstory.com/stories/stablecoins-stall-at-3-percent-trade-payments
Kraken lets you lend tokenized Nvidia stock into DeFi for yield
Stack
- Kraken DeFi Earn already holds $800M+ in deposits since January
- Tokenized equities hit $2.84B, up from $540M a year ago
- Vaults excluded in the US, UK, Canada, Australia and UAE
Story
Kraken built a yield product it can't legally offer in its five biggest regulated markets. The exclusion list tells you more than the launch does.
Watch
- Watch for a default or liquidation in the Kamino-based lending pool backing xStocks
- Watch whether any excluded jurisdiction names tokenized-equity vaults in guidance
Full read: https://stackandstory.com/stories/kraken-defi-yield-tokenized-stocks
Stack
- Kraken DeFi Earn already holds $800M+ in deposits since January
- Tokenized equities hit $2.84B, up from $540M a year ago
- Vaults excluded in the US, UK, Canada, Australia and UAE
Story
Kraken built a yield product it can't legally offer in its five biggest regulated markets. The exclusion list tells you more than the launch does.
Watch
- Watch for a default or liquidation in the Kamino-based lending pool backing xStocks
- Watch whether any excluded jurisdiction names tokenized-equity vaults in guidance
Full read: https://stackandstory.com/stories/kraken-defi-yield-tokenized-stocks
Orlen's $230M oil deal ran on USDT. Only $29M in oil showed up.
Stack
- $230M wired by Orlen, mostly in USDT, for Venezuelan crude in Dec 2023
- $50M gap when Horizon Global returned less USDT than it received
- $29M in oil actually delivered against the full advance
Story
USDT moved exactly as told at every step traced. What failed was a payment chain with no escrow and no verification, built specifically to reach a sanctioned seller.
Watch
- Watch whether Poland's prosecutors add USDT-tracing evidence to the executives' case
- Watch if Tether issues any statement on the sanctioned-counterparty use
Full read: https://stackandstory.com/stories/usdt-trail-orlen-230m-oil-loss
Stack
- $230M wired by Orlen, mostly in USDT, for Venezuelan crude in Dec 2023
- $50M gap when Horizon Global returned less USDT than it received
- $29M in oil actually delivered against the full advance
Story
USDT moved exactly as told at every step traced. What failed was a payment chain with no escrow and no verification, built specifically to reach a sanctioned seller.
Watch
- Watch whether Poland's prosecutors add USDT-tracing evidence to the executives' case
- Watch if Tether issues any statement on the sanctioned-counterparty use
Full read: https://stackandstory.com/stories/usdt-trail-orlen-230m-oil-loss
House panel bundles crypto tax fixes into one markup
Stack
- $10 de minimis exemption proposed for fees paid in crypto, per The Block
- Bill also sets separate rules for stablecoins, mining, and staking
- Markup scheduled for Wednesday
Story
The $10 fee exemption is the easy part everyone will cheer. The real fight is staking and mining rules riding along in the same vote.
Watch
- Watch whether staking language matches or breaks from the IRS's current position
- Watch if the $10 threshold gets indexed or capped in markup
Full read: https://stackandstory.com/stories/house-crypto-tax-bill-10-dollar-exemption
Stack
- $10 de minimis exemption proposed for fees paid in crypto, per The Block
- Bill also sets separate rules for stablecoins, mining, and staking
- Markup scheduled for Wednesday
Story
The $10 fee exemption is the easy part everyone will cheer. The real fight is staking and mining rules riding along in the same vote.
Watch
- Watch whether staking language matches or breaks from the IRS's current position
- Watch if the $10 threshold gets indexed or capped in markup
Full read: https://stackandstory.com/stories/house-crypto-tax-bill-10-dollar-exemption
Deutsche Bank's crypto custody license lands three years late
Stack
- Deutsche Bank first announced custody plans in 2023; license still pending in 2026
- LBBW beat it to launch by 18 months, DZ Bank by 10 months
- Initial asset list: just BTC, ETH, and three stablecoins
Story
Everyone's calling this Deutsche Bank entering crypto. It's actually Deutsche Bank arriving last among Germany's major banks, three years after it said it would.
Watch
- Does the October MiCA license land on time, or slip again?
- Does a Deutsche Bank stablecoin launch before or after custody goes live?
Full read: https://stackandstory.com/stories/deutsche-bank-crypto-custody-mica
Stack
- Deutsche Bank first announced custody plans in 2023; license still pending in 2026
- LBBW beat it to launch by 18 months, DZ Bank by 10 months
- Initial asset list: just BTC, ETH, and three stablecoins
Story
Everyone's calling this Deutsche Bank entering crypto. It's actually Deutsche Bank arriving last among Germany's major banks, three years after it said it would.
Watch
- Does the October MiCA license land on time, or slip again?
- Does a Deutsche Bank stablecoin launch before or after custody goes live?
Full read: https://stackandstory.com/stories/deutsche-bank-crypto-custody-mica
World bundles stablecoins, Stripe, Kalshi behind an iris scan.
Stack
- World ID verification unlocks "boosted rewards" inside the new app, per The Block.
- Stripe, Kalshi, and Morpho are all wired into the single wallet at launch.
- Stablecoins still sit near 3% of global trade payments despite years of rail-building.
Story
This reads like a payments app but it's really an identity retention play. World needs people to keep scanning their eyes, and money is the hook it's using to make that happen.
Watch
- Watch active World ID verifications tied to app usage over the next two quarters.
- Watch whether Stripe or Kalshi disclose user growth from the World integration.
Full read: https://stackandstory.com/stories/world-money-super-app-world-id-rewards
Stack
- World ID verification unlocks "boosted rewards" inside the new app, per The Block.
- Stripe, Kalshi, and Morpho are all wired into the single wallet at launch.
- Stablecoins still sit near 3% of global trade payments despite years of rail-building.
Story
This reads like a payments app but it's really an identity retention play. World needs people to keep scanning their eyes, and money is the hook it's using to make that happen.
Watch
- Watch active World ID verifications tied to app usage over the next two quarters.
- Watch whether Stripe or Kalshi disclose user growth from the World integration.
Full read: https://stackandstory.com/stories/world-money-super-app-world-id-rewards
MoonPay puts stablecoin reserves into a $1.2B tokenized Treasury fund
Stack
- WTGXX pulled $466M in 30 days, nearly 7x the next-best tokenized Treasury fund's $66M
- WTGXX now holds $1.23B of the entire $15.4B tokenized Treasury market
- MoonPay's network spans 35 million accounts, per the companies
Story
This reads like a distribution deal but the flow data shows something else: one fund is soaking up nearly all the growth in tokenized Treasuries while its competitors stall.
Watch
- Does WTGXX's inflow pace hold past this quarter, or was $466M a one-time bump?
- Does MoonPay disclose the dollar size of its WTGXX reserve allocation?
Full read: https://stackandstory.com/stories/moonpay-taps-wisdomtree-tokenized-fund
Stack
- WTGXX pulled $466M in 30 days, nearly 7x the next-best tokenized Treasury fund's $66M
- WTGXX now holds $1.23B of the entire $15.4B tokenized Treasury market
- MoonPay's network spans 35 million accounts, per the companies
Story
This reads like a distribution deal but the flow data shows something else: one fund is soaking up nearly all the growth in tokenized Treasuries while its competitors stall.
Watch
- Does WTGXX's inflow pace hold past this quarter, or was $466M a one-time bump?
- Does MoonPay disclose the dollar size of its WTGXX reserve allocation?
Full read: https://stackandstory.com/stories/moonpay-taps-wisdomtree-tokenized-fund
Ether, XRP prices rose. Their ETFs bled cash anyway.
Stack
- Ether ETFs: -$39M Thursday, third straight outflow day, -$224M and -$141M before it
- Zcash's lone U.S. fund pulled in $47M in a day, $230M-plus this month
- Bitcoin ETFs took in $159M same session, up nearly $2.5B over 30 days
Story
Everything was green Thursday, so the flow data is the only signal that matters. ETF money picked bitcoin and Zcash, and walked past ether and XRP.
Watch
- A 4th+ day of ether ETF outflows despite a rising ether price
- Zcash fund inflows holding above $200M pace into a second month
Full read: https://stackandstory.com/stories/eth-xrp-etf-outflows-price-divergence
Stack
- Ether ETFs: -$39M Thursday, third straight outflow day, -$224M and -$141M before it
- Zcash's lone U.S. fund pulled in $47M in a day, $230M-plus this month
- Bitcoin ETFs took in $159M same session, up nearly $2.5B over 30 days
Story
Everything was green Thursday, so the flow data is the only signal that matters. ETF money picked bitcoin and Zcash, and walked past ether and XRP.
Watch
- A 4th+ day of ether ETF outflows despite a rising ether price
- Zcash fund inflows holding above $200M pace into a second month
Full read: https://stackandstory.com/stories/eth-xrp-etf-outflows-price-divergence
Grayscale splits its Zcash ETF 3-for-1 after $233M rushed in
Stack
- ZCSH assets near $890M after a $233M inflow surge, per The Block
- ZEC mining competition just hit record highs alongside the rally
- Grayscale is executing a 3-for-1 split to reset the per-share price
Story
A stock split isn't cosmetic here. It confirms retail demand outran the share price, and it proves buyers want ZEC's rally without any of ZEC's privacy tech.
Watch
- ZCSH post-split trading volume in the first two weeks
- ZEC mining difficulty and hashrate charts for continued records
- New Grayscale privacy-coin ETF filings next quarter
Full read: https://stackandstory.com/stories/grayscale-zcash-etf-split-inflow-surge
Stack
- ZCSH assets near $890M after a $233M inflow surge, per The Block
- ZEC mining competition just hit record highs alongside the rally
- Grayscale is executing a 3-for-1 split to reset the per-share price
Story
A stock split isn't cosmetic here. It confirms retail demand outran the share price, and it proves buyers want ZEC's rally without any of ZEC's privacy tech.
Watch
- ZCSH post-split trading volume in the first two weeks
- ZEC mining difficulty and hashrate charts for continued records
- New Grayscale privacy-coin ETF filings next quarter
Full read: https://stackandstory.com/stories/grayscale-zcash-etf-split-inflow-surge
Bitcoin ETFs just posted their best two-day pull since January
Stack
- ETFs took in $1.7B in two days, the strongest stretch since January
- Total ETF assets hit $111B, up 56% from June's $71B low but still 13% below January's $128B peak
- Average ETF holder cost basis sits at $81,722 per coin, per Bloomberg Intelligence
Story
This isn't a chase-the-rally story. The flows followed the moment underwater holders broke even, not the other way around.
Watch
- Watch if flows stay positive through sideways price action, proving it's holder behavior not momentum
- Watch for a flow reversal if BTC revisits the $81,722 cost-basis line
Full read: https://stackandstory.com/stories/bitcoin-etf-inflows-cost-basis
Stack
- ETFs took in $1.7B in two days, the strongest stretch since January
- Total ETF assets hit $111B, up 56% from June's $71B low but still 13% below January's $128B peak
- Average ETF holder cost basis sits at $81,722 per coin, per Bloomberg Intelligence
Story
This isn't a chase-the-rally story. The flows followed the moment underwater holders broke even, not the other way around.
Watch
- Watch if flows stay positive through sideways price action, proving it's holder behavior not momentum
- Watch for a flow reversal if BTC revisits the $81,722 cost-basis line
Full read: https://stackandstory.com/stories/bitcoin-etf-inflows-cost-basis
SEC's tokenized stock exemption fits almost nobody's current product
Stack
- UNI jumped over 30% in days after the SEC's Sept. 17 order
- BTC and ETH each rose more than 10% on the same news
- The exemption runs five years, tied to permissioned AMM pools only
Story
The market read this as a green light for tokenized stocks broadly. The rule only fits custodial, rights-bearing tokens in permissioned pools, which rules out most tokens trading today, including Robinhood's and Kraken's.
Watch
- Watch if Coinbase or Ondo file to operate under the exemption this cycle
- Watch if Robinhood or Kraken redesign tokens to add voting rights and issuer veto
Full read: https://stackandstory.com/stories/sec-tokenized-stocks-innovation-exemption-winners-losers
Stack
- UNI jumped over 30% in days after the SEC's Sept. 17 order
- BTC and ETH each rose more than 10% on the same news
- The exemption runs five years, tied to permissioned AMM pools only
Story
The market read this as a green light for tokenized stocks broadly. The rule only fits custodial, rights-bearing tokens in permissioned pools, which rules out most tokens trading today, including Robinhood's and Kraken's.
Watch
- Watch if Coinbase or Ondo file to operate under the exemption this cycle
- Watch if Robinhood or Kraken redesign tokens to add voting rights and issuer veto
Full read: https://stackandstory.com/stories/sec-tokenized-stocks-innovation-exemption-winners-losers