State Street Investment Management and Galaxy Asset Management (GLXY) have launched a tokenized fund designed to move a core piece of finance — cash management — onto blockchain networks, the firms said Tuesday. The State Street Galaxy Onchain Liquidity Sweep Fund, trading under the ticker SWEEP, allows large investors to park stablecoins into a fund
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 2154.22, up 1.3% (+26.68) since yesterday’s close. All 20 assets are trading higher. Leaders: ICP (+5.2%) and LINK (+4.0%). Laggards: LTC (+0.7%) and BNB (+0.7%). The CoinDesk 20 is
Ondo Finance has tokenized STRC, Strategy Inc.’s perpetual preferred stock, making it available to non-U.S. investors across Ethereum, $BNB Chain, and Solana through Ondo Global Markets. The tokenized version carries the same 11.5% annualized yield as the underlying security, pays monthly dividends, and is backed 1:1 by STRC shares held in custody. Tokenized $STRC is
Digital asset investment products recorded $117.8 million in inflows last week, marking a fifth consecutive week of gains after a late-week rebound reversed earlier outflows. Crypto exchange-traded products (ETPs) shed $619 million across Monday through Thursday before a single-session inflow of $737 million on Friday flipped the week to positive, according to a report from
Prediction markets are moving closer to institutional finance as large investors seek direct ways to trade event risk, according to a May 4 Bernstein report. The firm said these markets can help investors track outcomes tied to tariffs, elections, policy decisions and geopolitics through clear yes-or-no contracts. Bernstein pointed to Kalshi’s first bespoke institutional block
Venture capital heavyweight Andreessen Horowitz (a16z) has launched a $2.2 billion crypto fund, doubling down on blockchain startups amid a surge in venture capital into artificial intelligence. The new vehicle, called ‘Crypto Fund 5,’ will invest in crypto entrepreneurs at all stages, with capital deployed over a decade, according to company’s spokesperson. The firm said
Coinbase announced a 14% reduction in its workforce on Tuesday, a decision CEO Brian Armstrong described as preparation for what he called a “new way of working” built on artificial intelligence—not a defensive reaction to market conditions. In a company-wide email, Armstrong cited two forces behind the move: the persistence of crypto market cycles and
The Bank of Italy has pointed out that the European Union may need to assess the development of a tokenized version of its existing payments framework, signaling a possible shift in how digital transactions are structured across the region. The proposal centers on adapting the Single Euro Payments Area (SEPA) to align with ongoing technological
A new trading trend has emerged for former token traders, exploring the South Korean stock market. The ability to launch contracts and trade any asset has allowed crypto traders to pivot from stagnant or crashing coins and tokens. Former crypto traders moved to the Korea Composite Stock Price Index (KOSPI 200), growing a newly emerging