BlackRock Tokenizes European Funds Holding $311 Billion

BlackRock launched onchain share classes minted on Ethereum for select Institutional Cash Series money market funds, covering a combined $311 billion in assets as of June 30. The rollout arrives through a partnership with Kinexys by JPMorgan.

Twelve tokenized share classes span the firm's Euro Government Liquidity, Sterling Government Liquidity, US Treasury, and Dollar Liquidity funds. Kinexys acts as a translation layer between onchain activity and traditional registers, with the official shareholder ledger still maintained by transfer agent infrastructure.

The classes enable round-the-clock peer-to-peer transfers between approved investor wallets through smart contracts, delivering yield-bearing exposure with near real-time visibility. Availability spans 15 markets including Bermuda, Germany, Ireland, Luxembourg, Singapore, and the United Kingdom.

Digital cash head Hannah Winter said tokenized funds bring short-duration exposures into digital formats without loosening capital preservation standards. The launch follows two tokenized products for stablecoin reserves introduced a day earlier, deepening a strategy Larry Fink has championed publicly.

Saylor Says He Has Never Sold a Personal Satoshi

Michael Saylor cleared the air on his personal stash, posting that he has never sold one satoshi and that Strategy is a public company rather than his wallet. The remark landed hours after the firm disclosed selling 1,638 bitcoin for roughly $104.7 million.

That sale trimmed holdings to 842,138 BTC, with proceeds funding preferred stock distributions and STRC repurchases. Saylor's firm has paused acquisitions for five weeks while lifting its dollar reserve to $3.75 billion, as MSTR trades down 40% year to date.

Senator Warren Seek SEC Probe of Trump's Memecoin

Senators Elizabeth Warren and Richard Blumenthal urged the SEC to investigate President Trump's memecoin, citing reports that nearly 1 million wallets have lost a combined $3.81 billion since its January 2025 launch. They accused him of orchestrating a rug pull.

The letter lands as the White House weighs an ethics compromise to unlock broader crypto legislation before senators depart Friday for recess. TRUMP now carries a $362 million market cap, ranking 112th, while the president reportedly earned $636 million from it.

Polymarket Targets $20 Billion Valuation Amid Rivalry

Polymarket is pursuing fresh capital at a $20 billion valuation, Bloomberg reported, months after closing a round at $15 billion that included $600 million from Intercontinental Exchange. Annualized revenue climbed above $1 billion following record World Cup volumes.

Founder Shayne Coplan frames the venue as an information platform rather than a betting site, describing it as a thermometer of the world. Rival Kalshi is reportedly seeking capital at $40 billion, while Coinbase and Robinhood add their own event contracts.

Data of the Day

Decentralized exchanges captured a record 24% of spot crypto trading in July, up from 17% a year earlier. Centralized venues have struggled as spot volumes dried up, prompting Coinbase and Gemini to cut staff while traders migrated onchain.

Spot exchange volume is tracking toward a 12-month low of $670 million, down from an annual high of $2.23 trillion. DEX aggregators have built deeper liquidity and faster cross-chain routing, closing most of the execution gap that once made onchain venues impractical.

More Breaking News

• Galaxy Research said Coldcard losses could swell to $130 million once an unconfirmed fourth wave is counted, having already traced 1,596 BTC stolen from 7,300 addresses.
• A former FBI agent was charged with stealing nearly $1 million in crypto from wallets tied to counterintelligence cases, later asking ChatGPT how to invest it and relocate to Europe.
• Mastercard completed its acquisition of BVNK, a deal valued at up to $1.8 billion, to scale enterprise stablecoin settlement, payouts, and treasury flows.
• Visa, Mastercard, and Coinbase are not abandoning Circle for Open USD, backing USDC under multi-coin strategies rather than betting on any single digital dollar.
• BitGo moved $7.4 billion of Wrapped Bitcoin to Chainlink's CCIP, pushing the total fleeing LayerZero near $15 billion after the KelpDAO bridge exploit.
• The Trump family's American Bitcoin topped 8,000 BTC after mining a record 932 coins in the second quarter, lifting its reserve 14% while narrowing quarterly losses.
• Tether Gold reserves rose 9.5% during bullion's worst quarter since 2013, with holders of the tokenized metal buying weakness rather than chasing rallies.
• Binance launched a bitcoin-backed Lite Loan letting verified users borrow up to 1,000 USDT with no price liquidation during the initial 30-day term.
• Tom Lee's Bitmine bought another 10,399 ether worth about $19.5 million, lifting its ETH treasury to 5.8 million tokens alongside 4.5 million shares repurchased.