Zcash (ZEC) jumps 23% as Paradigm discloses holding
Zcash continues to buck the crypto trend. The token rose roughly 11% over the last 24 hours, following a 20%+ daily move the day before. The immediate spark appears to have been Paradigm’s co-founder, Matt Huang’s, public endorsement of Zcash saying the firm owns ZEC and characterized it as a privacy-preserving complement to BTC. Still, the tweet likely accelerated momentum rather than created it from scratch.
X will now let US users trade stocks and crypto
X is beefing up it’s ‘Cashtags’ feature by letting users place stock and crypto trades via participating brokerages. Initial partners in the effort include Interactive Brokers, Moomoo, Gemini, Kraken, and Coinbase. With X Money paying 6% on cash, Elon continues to try to transform X into an ‘everything app’. Read more →
Well, that didn’t take long
Just one day after we wrote that regulators weren’t waiting on Congress, the SEC unveiled its long-awaited Innovation Exemption, opening a five-year pathway for certain U.S. stocks to trade onchain through approved tokenized-securities venues. These aren’t synthetic stock tokens either. Investors would still get things like dividends and voting rights, and companies could object to being listed. The SEC is also giving approved platforms more flexibility in how they trade these assets, including using automated liquidity pools instead of a traditional exchange setup. Read more →
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