CeFiWire

Editor’s Note: A 33% down round typically is the sign of a startup in stress. Arjun Sethi just accepted one with a smile, because the buyer on the other side was Stephan Leithner of Deutsche Borse — and the check comes bundled with distribution Deutsche Borse Groupput $200 million into Payward, the parent company behind crypto exchange Kraken, acquiring a 1.5% fully diluted stake in a secondary transaction.

Editor’s Note: Robert Leshner built Compound, the DeFi lending protocol that put the yield-farming craze on the map and sent compliance officers at firms like Invesco reaching for the antacids. Until recently, his name was krypto — and by that we mean kryptonite, not cryptography — to TradFi execs like Andrew Schlossberg. The Invesco deal with Superstate says that era is over. More importantly, it says Andrew sees what’s coming for his own flagship product.

Yes, it takes some blood, sweat and tears, but you can now hold a common stock in your Solana wallet, no brokerage account needed. Until this week, the only tokenized “stocks” were really derivatives. Typically they were stakes in a special purpose vehicle (SPV) that held the stock you wanted to invest in. In some cases, the brokerage firm or sponsor was merely making an un-backed promise to match a stock’s return based just on its balance sheet credit.

After Grayscale won its victory in court, the Securities and Exchange Commission waited until the end of last days of the slowest news week of the year to make its latest decision on the handful of pending Bitcoin ETP registrations. It delayed them for another 45 days. Those awaiting a decision mark mid-October for the next SEC action on the decision. And don’t be surprised if the regulators smash the “delay” button once again.

Editor’s Note: As always, if you have news of your own drop us a note at “editors@cefiwire.com”. Connect to CeFiWire! JUST ONE LEAD PAYS FOR YOUR MEMBERSHIP To access to our exclusives, simply send an email to Veronica@CeFiWire.com and we will provide a trial and enterprise pricing. Or call us at 646-450-3474.

The big news of the week was PayPal’s decision to launch its own stablecoin … pyUSD. The move is all about payments José Fernández da Ponte, PayPal’s crypto SVP told Unchained’s Laura Shin. Payments are not our beat — which is where TradFi intersects with DeFi — but we recommend a listen anyway. The other big news of the week also involved payments … and capital markets too.

Editor’s Note: As always, if you have news of your own drop us a note at “editors@cefiwire.com”. Connect to CeFiWire! JUST ONE LEAD PAYS FOR YOUR MEMBERSHIP To access to our exclusives, simply send an email to Veronica@CeFiWire.com and we will provide a trial and enterprise pricing. Or call us at 646-450-3474.

Editor’s Note: As always, if you have news of your own drop us a note at “editors@cefiwire.com”. Connect to CeFiWire! JUST ONE LEAD PAYS FOR YOUR MEMBERSHIP To access to our exclusives, simply send an email to Veronica@CeFiWire.com and we will provide a trial and enterprise pricing. Or call us at 646-450-3474.

Editor’s Note: As always, if you have news of your own drop us a note at “editors@cefiwire.com”. Connect to CeFiWire! JUST ONE LEAD PAYS FOR YOUR MEMBERSHIP To access to our exclusives, simply send an email to Veronica@CeFiWire.com and we will provide a trial and enterprise pricing. Or call us at 646-450-3474.

Editor’s Note: As always, if you have news of your own drop us a note at “editors@cefiwire.com”. Connect to CeFiWire! JUST ONE LEAD PAYS FOR YOUR MEMBERSHIP To access to our exclusives, simply send an email to Veronica@CeFiWire.com and we will provide a trial and enterprise pricing. Or call us at 646-450-3474.