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Offers for the institutional crypto platform are roughly 60% below its $500M marketing price, highlighting how private-market crypto valuations have reset.
The real asset on the block isn't the balance sheet — it's ClearLoop, the in-custody DvP settlement network that already routes for dozens of institutions and $50B in monthly notional.
The ratio has topped its 200-day moving average for the first meaningful time since September 2020 — the same setup that historically preceded bitcoin's 2021 vertical phase by weeks to months.
Gold tokens like PAXG and XAUT track metal prices with no yield. T-bill tokens like BUIDL and OUSG pass through ~4-5% yield but add custodial and KYC layers. They're different tools, not rivals.
The metals that traded like AI-infrastructure proxies for the first half of the year have now given back every basis point of YTD gains, with gold off 25% from its $5,600 peak and silver cut nearly…
Gold perps alone peaked at $7.77B in daily volume on Binance; the new European-style options, settled in USDT through ADGM-regulated Nest Exchange, layer on top of that demand with retail capped at…
The site is engineered to ride surplus grid capacity and switch off during peak demand, which is how Fortitude expects direct cash mining cost to fall from ~$70 to ~$40 per ZEC.
Backed 1:1 sounds reassuring. But tokenized gold is a chain of claims, not a bar in your hand, and the failure modes live in the seams.
EU bans interest on most stablecoins. The US is ambiguous. Singapore permits it with disclosure. Here's how MiCA, GENIUS, and the SEC each treat yield wrappers.
CFTC and SEC push the US toward a clearer digital-asset regime while MiCA forces, AML caps and an Illinois transfer tax squeeze the same rails from across the Atlantic.
Capital is rerouting from a tightening EU and a bleeding US ETF complex toward Asia, stablecoins, and a maturing institutional plumbing layer.
CoinDesk
WuBlockchain
TheBlock
Lina Haddad