tZERO Newsletter 11.21.2025
In recent statements made by Chair Paul Atkins, the US Securities and Exchange Commission (SEC) announced a strategic plan targeted at giving much-needed clarity on the classification of crypto assets. Atkins highlighted the forthcoming consideration of establishing a “token taxonomy” within the Commission, a structured framework rooted in legal rationale to discern between securities and commodities. He emphasized the importance of adhering to “limiting principles” in laws and regulations to ensure a cohesive approach towards crypto asset classification.
US FDIC: Developing “Deposit Tokenization Insurance” Guidelines, Emphasizing Consistency Between On-Chain and Traditional Deposit Legal Nature
Jinse Finance reported that Travis Hill, Acting Chairman of the US Federal Deposit Insurance Corporation (FDIC), stated that the agency is working on formulating guidelines for “deposit tokenization insurance” to provide regulatory direction for financial institutions planning to expand into digital asset businesses. Hill emphasized that the legal nature of deposits should remain unchanged, whether in the traditional financial system or when migrated to blockchain or distributed ledger technology.
Coinbase’s Monad public token sale starts hot and then fizzles
Coinbase’s new public token sales platform kicked into gear on Monday by selling Monad tokens to retail investors — but after a quick start, commitments began to slow. Roughly six hours after it began, the Monad token sale was 45% subscribed with more than $100 million worth of tokens remaining. Nearly half of that amount was generated less than half an hour after the sale opened Monday morning, according to Coinbase Product Director Scott Shapiro, who posted X.
Kraken Partners with Crypto Insights Group to Strengthen Institutional Access to Digital Asset Funds
Kraken, one of the world’s longest-standing, most liquid and secure cryptocurrency platforms, today announced a strategic partnership with Crypto Insights Group (CIG), a leading intelligence and analytics platform connecting institutional allocators with hedge funds and digital asset managers. CIG provides a suite of solutions that enable allocators to identify, evaluate and communicate with some of the highest-performing funds in the digital asset space today.
DeFi: Figure to List Blockchain Native Traded Securities, Files S-1 With SEC
Figure Technology Solutions (NASDAQ: FIGR), a top blockchain-focused public firm, says it is aiming to trade digital securities; blockchain native equity. Everyone knows that all securities will eventually be digital. Figure is a company that is doing it today. Figure has filed an S-1 registration statement with the Securities and Exchange Commission seeking to trade its “Series A” blockchain common stock.
Will Franklin Templeton’s (BEN) Blockchain Push Redefine Its Competitive Edge in Digital Assets?
Earlier this week, the Canton Network announced the expansion of Franklin Templeton’s Benji Technology Platform onto the Canton Blockchain, enabling global institutional clients to access regulated, tokenized investment products and supporting new liquidity opportunities in the digital asset space. This move further cements Franklin Resources’ commitment to blockchain innovation, opening new avenues for institutional adoption of digital assets while addressing regulatory and privacy requirements.
CFTC May Introduce Leveraged Spot Cryptocurrency Trading via Regulated Platforms
Caroline Pham, the Acting Chairperson of the Commodities Futures Trading Commission (CFTC), has indicated that the regulatory agency is presently in talks with various regulated exchanges to potentially introduce spot cryptocurrency trading. This may include leveraged offerings and may be officially launched toward the end of 2025. Caroline Pham of the CFTC said via social media that reports of this development are actually true. This update has come despite the US federal government being shutdown for over 40 days now along with delays of various other crypto-related policy issues.
The Trump Organization and Dar Global, a Dubai-based luxury real estate developer, are partnering to develop a Trump-branded luxury resort in the Maldives that will incorporate tokenization. The tokenization model will enable blockchain-based participation in the hotel development, marking a novel approach to resort financing. The project will be built in phases across the island destination.
The October flash crash, a sudden and violent market drop that erased over $19 billion in leveraged crypto positions in just a few hours, exposed weaknesses across the digital-asset ecosystem. Prices plunged faster than many automated systems could react, liquidations cascaded across exchanges, and liquidity evaporated from key trading pairs. However, beyond the headlines, one group of players has drawn the attention of analysts and policymakers: Digital Asset Treasury companies, or DATs.