SEC Urged to Disapprove Nasdaq Tokenized Securities Plan Amid Transparency Concerns

Ondo Finance is calling on the SEC to postpone Nasdaq's tokenization plan due to concerns over transparency. The proposed changes lack clarity on how the Depository Trust Company would manage post-trade settlements for these tokens, raising questions about the reliability of the process. This matters because effective tokenization could revolutionize trading, but without clear guidelines, investors may face unnecessary risks.

This week's roundup highlights significant Bitcoin ETF outflows and concerns over bank contagion, reflecting a potential risk reset in the crypto market. The SEC Chair's commitment to reviving U.S. crypto innovation comes amid fears that the U.S. is heading towards a financial crisis reminiscent of past economic downturns. This situation is crucial as it could impact investor confidence and the future of cryptocurrency regulation in the country.

XRP has stabilized after an early dip, as traders are now focusing on a potential breakout at $2.40. This comes in the context of renewed fears over U.S.–China tariffs and a cautious approach ahead of upcoming SEC deadlines for spot XRP ETFs. The market's reaction to these developments is crucial, as it could influence XRP's price trajectory in the near future.

Dogecoin's price has taken a significant hit, dropping 10% to $0.17 as large investors, known as whales, sold off approximately 360 million DOGE worth $74 million. This decline extends a troubling trend, with the cryptocurrency down over 27% for the week. Despite some positive buzz surrounding the potential merger of House of Doge with a Nasdaq-listed company and Thumzup's plans for DOGE payouts to creators, the initial excitement has quickly waned. This situation highlights the volatility in the crypto market and the impact of large sell-offs on prices.

Ondo Finance has urged the SEC to pause Nasdaq's plan for tokenized securities, expressing concerns that the proposal lacks transparency regarding settlement details, which could disproportionately benefit larger market players. This matter is significant as it highlights ongoing debates about fairness and equity in the evolving landscape of digital finance, potentially impacting how smaller investors engage with tokenized assets.

Chainlink's LINK has seen a significant drop of 9% as intense selling pressure overshadows Caliber's recent $2 million accumulation of the cryptocurrency. Despite Caliber's efforts to bolster LINK by purchasing nearly 60,000 tokens, the market remains bearish, indicating that investor sentiment is still cautious. This situation highlights the volatility in the cryptocurrency market and the challenges faced by even established players like Chainlink.

Thumzup Media has made an exciting move by integrating Dogecoin for creator payouts, marking a significant step in the corporate adoption of meme coins. This development not only highlights the maturation of the cryptocurrency market but also aims to reduce cross-border transaction fees, making it easier for creators to receive payments. As technical analysts monitor Dogecoin's support levels, this integration could attract more speculative capital, potentially benefiting both Thumzup and the broader crypto community.

Coinbase has scheduled a system maintenance for the same day the SEC is set to announce its decision on the proposed XRP ETF, leading to speculation among market watchers. Analyst ChartNerd highlighted this coincidence, suggesting it might indicate some behind-the-scenes preparations. Although Coinbase has described the maintenance as routine, the timing has piqued the curiosity of analysts and investors alike, making it a topic of interest in the crypto community.

Chinese tech giants Ant Group and JD.com have put their stablecoin projects on hold in Hong Kong due to concerns raised by Beijing regulators about the issuance of digital currencies by private companies. This decision highlights the increasing scrutiny from the Chinese government over the cryptocurrency sector, which could impact innovation and investment in the region. As these companies navigate regulatory challenges, the future of digital currencies in Hong Kong remains uncertain.

Binance has recently banned over 600 accounts for misusing its Binance Alpha service, highlighting its dedication to maintaining platform integrity. This move is significant as it aims to enhance user trust during a time of market volatility, reassuring users that the platform prioritizes security and responsible usage.

The US Treasury has stepped into the Argentine currency market, a move that comes as former President Trump ties his support to Javier Milei's electoral success. This intervention is significant as it highlights the ongoing economic challenges in Argentina and the potential influence of US politics on foreign economies. With Milei's controversial policies and Trump's backing, the situation could lead to shifts in both countries' economic landscapes.

OpenSea, the popular NFT marketplace, is gearing up to launch its own native token, SEA, by the first quarter of 2026. This move, announced by CEO Devin Finzer, marks a significant step in OpenSea's evolution into a comprehensive platform for all blockchain trading activities. The introduction of the SEA token is expected to enhance user engagement and streamline transactions, making it a noteworthy development in the cryptocurrency space.

Bull Wallet has officially launched worldwide, offering a new mobile app focused on privacy for Bitcoin transactions via the Lightning Network. This launch is significant as it addresses growing concerns about privacy in digital finance, providing users with a secure way to manage their Bitcoin. With the increasing adoption of cryptocurrencies, Bull Wallet aims to enhance user experience and security, making it a noteworthy addition to the crypto landscape.

Japan is considering a regulatory change that would allow banks to hold Bitcoin and other cryptocurrencies for investment purposes. This potential shift is significant as it could enhance the stability and integration of the crypto market, positively impacting global financial systems and boosting investor confidence. Such a move may pave the way for broader acceptance of digital currencies in traditional finance, making it an important development for both local and international investors.