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Crypto entering biggest consolidation phase in history, says ARK analyst

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ARK Invest’s Lorenzo Valente says revenue is becoming increasingly concentrated among a handful of crypto protocols, setting the stage for more mergers, acquisitions and exchange closures.

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Coin Market

Manhattan US Attorney leading probe into Binance’s Iran compliance: Bloomberg

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The investigation is examining whether Binance knowingly allowed trading that violated US sanctions on Iran, months after reports first revealed a Justice Department probe.

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Saudi Arabia exits China-backed mBridge CBDC project: FT

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Saudi Arabia has left mBridge, a cross-border CBDC platform that has drawn scrutiny from US policymakers, according to the Financial Times.

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Ondo lets institutions convert stocks directly into tokenized shares

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Ondo’s new in-kind conversion system allows approved institutions to mint and redeem tokenized stocks and ETFs using the underlying securities instead of cash.

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