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United States asset manager Canary Capital has filed to list an exchange-traded fund (ETF) holding the Tron blockchain network’s native token, TRX (TRX), regulatory filings show. The fund intends to hold spot TRX and stake a portion of the tokens for added yield, the filing said. According to CoinMarketCap, the TRX token has a total market capitalization of more than $22 billion. Staking TRX generates an annualized yield of approximately 4.5%, data from Stakingrewards.com shows.The filing is the latest in an outpouring of submissions aimed at listing ETFs holding alternative cryptocurrencies, or “altcoins.” However, Canary’s proposed fund is relatively unique in requesting permission to stake its crypto holdings in its initial application. Other US ETFs, such as those holding the Ethereum network’s native token, Ether (ETH), have sought approval for staking only after successfully listing a fund holding the spot token. They are still waiting for a regulatory decision. Tron is a proof-of-stake blockchain network founded by Justin Sun, who also owns Rainberry (formerly Bittorrent), the developer of the BitTorrent protocol. In March 2023, the SEC sued Sun for allegedly fraudulently inflating the prices of the Tron token and BitTorrent’s BTT token. In February, the SEC and Sun asked the judge overseeing the lawsuit to pause the case to allow the parties to enter into settlement talks. Platforms for staking TRX. Source: Stakingrewards.comRelated: Canary Capital proposes first Sui ETF in US SEC filingAltcoin ETF seasonSince US President Donald Trump took office in January, US regulators have acknowledged dozens of filings for proposed crypto investment products. They include plans for ETFs holding native layer-1 tokens such as Solana (SOL) as well as memecoins such as Official Trump (TRUMP). Since 2024, Canary has filed for several proposed US crypto ETFs, including funds holding Litecoin (LTC), XRP (XRP), Hedera (HBAR), Axelar (AXL), Pengu (PENGU), and Sui (SUI).Some industry analysts doubt that ETFs holding non-core cryptocurrencies will be embraced by traditional investors.“Most crypto ETFs will fail to attract AUM and cost issuers money,” crypto researcher Alex Krüger said in a March post on the X platform.Magazine: SEC’s U-turn on crypto leaves key questions unanswered

United States asset manager Canary Capital has filed to list an exchange-traded fund (ETF) holding the Tron blockchain network’s native token, TRX (TRX), regulatory filings show. The fund intends to hold spot TRX and stake a portion of the tokens for added yield, the filing said. According to CoinMarketCap, the TRX token has a total market capitalization of more than $22 billion. Staking TRX generates an annualized yield of approximately 4.5%, data from Stakingrewards.com shows.The filing is the latest in an outpouring of submissions aimed at listing ETFs holding alternative cryptocurrencies, or “altcoins.” However, Canary’s proposed fund is relatively unique in requesting permission to stake its crypto holdings in its initial application. Other US ETFs, such as those holding the Ethereum network’s native token, Ether (ETH), have sought approval for staking only after successfully listing a fund holding the spot token. They are still waiting for a regulatory decision. Tron is a proof-of-stake blockchain network founded by Justin Sun, who also owns Rainberry (formerly Bittorrent), the developer of the BitTorrent protocol. In March 2023, the SEC sued Sun for allegedly fraudulently inflating the prices of the Tron token and BitTorrent’s BTT token. In February, the SEC and Sun asked the judge overseeing the lawsuit to pause the case to allow the parties to enter into settlement talks. Platforms for staking TRX. Source: Stakingrewards.comRelated: Canary Capital proposes first Sui ETF in US SEC filingAltcoin ETF seasonSince US President Donald Trump took office in January, US regulators have acknowledged dozens of filings for proposed crypto investment products. They include plans for ETFs holding native layer-1 tokens such as Solana (SOL) as well as memecoins such as Official Trump (TRUMP). Since 2024, Canary has filed for several proposed US crypto ETFs, including funds holding Litecoin (LTC), XRP (XRP), Hedera (HBAR), Axelar (AXL), Pengu (PENGU), and Sui (SUI).Some industry analysts doubt that ETFs holding non-core cryptocurrencies will be embraced by traditional investors.“Most crypto ETFs will fail to attract AUM and cost issuers money,” crypto researcher Alex Krüger said in a March post on the X platform.Magazine: SEC’s U-turn on crypto leaves key questions unanswered

An Aptos community member submitted a proposal on April 18 to slash staking rewards for the network’s native token, Aptos (APT), by nearly 50%The proposal, submitted by a community member called MoonSheisty, aims at reducing reward yields from 7% to 3.79% in a three-month period, aligning Aptos staking rewards with other layer-1 blockchains and encouraging capital efficiency.The proposal has sparked curiosity on X, but early comments on GitHub show some initial resistance.A community member going by ElagabalxNode noted that reducing the staking reward without “compensatory mechanisms like a robust delegation program” could push smaller validators out of the network, thus weakening the Aptos blockchain’s decentralization and long-term resistance.Related: Aptos to accelerate innovation with new tech, investment in IndiaThe proposal addresses the validators’ role in the network, stating that Aptos should consider a community validator program to give grants and stake to small validators contributing to the ecosystem.”Aptos was founded in 2021 by a group of former Meta engineers. According to DefiLlama, the Aptos blockchain has a total value locked of $974 million as of April 18, with nearly a $320 million coming from lending protocol Aries Markets.Aptos TVL and other metrics. Source: DefiLlamaWhile high staking rewards can incentivize users to lock up tokens on Aptos, MoonSheisty argues that they may also discourage participation in higher-risk, higher-reward opportunities within the ecosystem, such as restaking, DePIN infrastructure, MEV, and decentralized finance.Staking ‘real reward rates’ vary considerablyStaking rewards can vary significantly across blockchains. According to CoinLedger, real returns on the BNB Smart Chain are among the highest at 7.43%, while Cardano offers one of the lowest at just 0.55%.Staking offers multiple benefits: It incentivizes users to lock their tokens on-chain, supports validators and helps secure the network. Rewards work similarly to interest earned on a savings account — but instead of cash, stakers earn crypto, which can fluctuate in fiat value.Related: Coinbase’s Ethereum staking dominance risks overcentralization: ExecsFrom time to time, proposals emerge aiming to modify staking procedures. In June 2024, Polkadot introduced a proposal to reduce the time needed to unstake to just two days. In September, the Starknet community voted to pass a new staking mechanism, while Ethereum co-founder Vitalik Buterin proposed solutions to staking issues a few weeks later.While staking gives the community a true “stake” in the network, there are risks associated with it, including the consolidation of smaller pools into larger ones. This trend can undermine decentralization and weaken the blockchain’s overall resilience. Magazine: Ethereum restaking — Blockchain innovation or dangerous house of cards?

An Aptos community member submitted a proposal on April 18 to slash staking rewards for the network’s native token, Aptos (APT), by nearly 50%The proposal, submitted by a community member called MoonSheisty, aims at reducing reward yields from 7% to 3.79% in a three-month period, aligning Aptos staking rewards with other layer-1 blockchains and encouraging capital efficiency.The proposal has sparked curiosity on X, but early comments on GitHub show some initial resistance.A community member going by ElagabalxNode noted that reducing the staking reward without “compensatory mechanisms like a robust delegation program” could push smaller validators out of the network, thus weakening the Aptos blockchain’s decentralization and long-term resistance.Related: Aptos to accelerate innovation with new tech, investment in IndiaThe proposal addresses the validators’ role in the network, stating that Aptos should consider a community validator program to give grants and stake to small validators contributing to the ecosystem.”Aptos was founded in 2021 by a group of former Meta engineers. According to DefiLlama, the Aptos blockchain has a total value locked of $974 million as of April 18, with nearly a $320 million coming from lending protocol Aries Markets.Aptos TVL and other metrics. Source: DefiLlamaWhile high staking rewards can incentivize users to lock up tokens on Aptos, MoonSheisty argues that they may also discourage participation in higher-risk, higher-reward opportunities within the ecosystem, such as restaking, DePIN infrastructure, MEV, and decentralized finance.Staking ‘real reward rates’ vary considerablyStaking rewards can vary significantly across blockchains. According to CoinLedger, real returns on the BNB Smart Chain are among the highest at 7.43%, while Cardano offers one of the lowest at just 0.55%.Staking offers multiple benefits: It incentivizes users to lock their tokens on-chain, supports validators and helps secure the network. Rewards work similarly to interest earned on a savings account — but instead of cash, stakers earn crypto, which can fluctuate in fiat value.Related: Coinbase’s Ethereum staking dominance risks overcentralization: ExecsFrom time to time, proposals emerge aiming to modify staking procedures. In June 2024, Polkadot introduced a proposal to reduce the time needed to unstake to just two days. In September, the Starknet community voted to pass a new staking mechanism, while Ethereum co-founder Vitalik Buterin proposed solutions to staking issues a few weeks later.While staking gives the community a true “stake” in the network, there are risks associated with it, including the consolidation of smaller pools into larger ones. This trend can undermine decentralization and weaken the blockchain’s overall resilience. Magazine: Ethereum restaking — Blockchain innovation or dangerous house of cards?

Today commemorates the 13th anniversary of the first altcoin, the crypto asset Namecoin (NMC), whose network debuted on April 18, 2011. Although the token has dimmed over time, the network remains under active development and its proof-of-work (PoW) hashrate ranks among the highest in the crypto ecosystem. While Often Forgotten, the First Altcoin Turns 13 […]

Ivan Soto-Wright, CEO of cryptocurrency payment firm MoonPay, is calling on US lawmakers to leave a path open to state-level regulators when passing legislation on stablecoins.In an April 18 X post, Soto-Wright said he wanted Congress to “keep state-regulated issuers in the game” when it comes to stablecoin regulation, referencing efforts in the House of Representatives and Senate to create a federal regulatory framework. Lawmakers are considering whether to pass the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, in the Senate and the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act, in the House.“While the cryptocurrency industry has called for federal legislation for years, it has been these state regulators who have provided and continue to provide regulatory clarity and supervision to ensure consumer protection and enable growth in the sector,” said Soto-Wright. “As federal legislation now approaches the finish line, it is essential to preserve viable state pathways for PSIs [permitted stablecoin issuers] that place the state regulators who meet the standards set out in GENIUS and STABLE on equal footing with federal regulators.”April 17 letter from MoonPay CEO to congressional leadership. Source: Ivan Soto-WrightThe MoonPay CEO’s comment echoed those of the Conference of State Bank Supervisors (CSBS), which wrote to leadership on the House Financial Services Committee in an April 1 letter and recommended a similar state-level approach. Both the Senate Banking Committee and House Financial Services Committee voted to advance the bills in March and April, respectively, paving the way for a full floor vote.Related: Lawmaker alleges Trump wants to replace US dollar with his stablecoinThe STABLE Act, a companion bill modeled after the GENIUS Act, proposed regulating payment stablecoins by limiting them to “permitted payment stablecoin issuers,” allowing for “state qualified” ones. Soto-Wright said the GENIUS bill “stacks the deck” for permitted stablecoin issuers through federal regulators over state-level ones and the Federal Reserve to be the “sole federal regulator for all state PSIs.”Trump family-backed venture launched its own stablecoinIt’s unclear whether the bills have the necessary votes to pass both chambers before being signed into law by US President Donald Trump. The president and his family members have also backed the launch of their own stablecoin through World Liberty Financial, despite allegations of conflicts of interest and potential complications getting the bills through the House and Senate.  World Liberty Financial, which launched in September 2024, has already received roughly $600 million — largely through token sales — from investors including Tron founder Justin Sun, market maker DWF Labs, venture capital firm Oddiyana Ventures, and investment platform Web3Port. According to the project, its USD1 stablecoin was not tradable as of March 24.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

Ivan Soto-Wright, CEO of cryptocurrency payment firm MoonPay, is calling on US lawmakers to leave a path open to state-level regulators when passing legislation on stablecoins.In an April 18 X post, Soto-Wright said he wanted Congress to “keep state-regulated issuers in the game” when it comes to stablecoin regulation, referencing efforts in the House of Representatives and Senate to create a federal regulatory framework. Lawmakers are considering whether to pass the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, in the Senate and the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act, in the House.“While the cryptocurrency industry has called for federal legislation for years, it has been these state regulators who have provided and continue to provide regulatory clarity and supervision to ensure consumer protection and enable growth in the sector,” said Soto-Wright. “As federal legislation now approaches the finish line, it is essential to preserve viable state pathways for PSIs [permitted stablecoin issuers] that place the state regulators who meet the standards set out in GENIUS and STABLE on equal footing with federal regulators.”April 17 letter from MoonPay CEO to congressional leadership. Source: Ivan Soto-WrightThe MoonPay CEO’s comment echoed those of the Conference of State Bank Supervisors (CSBS), which wrote to leadership on the House Financial Services Committee in an April 1 letter and recommended a similar state-level approach. Both the Senate Banking Committee and House Financial Services Committee voted to advance the bills in March and April, respectively, paving the way for a full floor vote.Related: Lawmaker alleges Trump wants to replace US dollar with his stablecoinThe STABLE Act, a companion bill modeled after the GENIUS Act, proposed regulating payment stablecoins by limiting them to “permitted payment stablecoin issuers,” allowing for “state qualified” ones. Soto-Wright said the GENIUS bill “stacks the deck” for permitted stablecoin issuers through federal regulators over state-level ones and the Federal Reserve to be the “sole federal regulator for all state PSIs.”Trump family-backed venture launched its own stablecoinIt’s unclear whether the bills have the necessary votes to pass both chambers before being signed into law by US President Donald Trump. The president and his family members have also backed the launch of their own stablecoin through World Liberty Financial, despite allegations of conflicts of interest and potential complications getting the bills through the House and Senate.  World Liberty Financial, which launched in September 2024, has already received roughly $600 million — largely through token sales — from investors including Tron founder Justin Sun, market maker DWF Labs, venture capital firm Oddiyana Ventures, and investment platform Web3Port. According to the project, its USD1 stablecoin was not tradable as of March 24.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

Tokenized stocks are on track to exceed $1 trillion in market capitalization in the coming years as adoption accelerates, two industry executives said at the TokenizeThis conference in New York. The total addressable market for tokenized stocks — a type of tokenized real-world asset (RWA) —  is difficult to project but is “definitely a bigger trillion-dollar market,” Arnab Naskar, STOKR’s CEO, said during an April 16 panel at the event.In 2025, demand for the instruments has “exploded” from institutions ranging from Web3 wallets to neobanks to traditional financial services firms, according to Anna Wroblewska, Dinari’s Chief Business Officer. “We’ve had an enormous influx of demand from a much broader scope of potential partners than you might even imagine […] it’s actually been really interesting,” Wroblewska said.Tokenized stocks are still a small portion of the total RWA market. Source: RWA.xyzRelated: Tokenization can transform US markets if Trump clears the waySmall but growing market shareAs of April 18, tokenized stocks comprise around $350 million in cumulative market capitalization, according to data from RWA.xyz. This represents only a sliver of the total RWA market, which is worth upward of $18 billion, the data shows. But this could change as tokenized stocks capture a growing share of the US equities market, Wroblewska said. The US stock market has an aggregate value of more than $50 trillion, according to Siblis Research. There is a “huge appetite for US public equities… even individual investors globally want exposure to US capital markets. Tokenization makes it fast and cheap,” Wroblewska said. She added that tokenized US Treasury Bills are already in high demand for similar reasons. They currently comprise nearly $6 billion in total market cap, RWA.xyz data shows. Meanwhile, Coinbase is considering making tokenized shares of its stock available on Base, its Ethereum layer-2 network.Collectively, tokenized RWAs represent a $30 trillion market opportunity globally, Colin Butler, Movement Labs’ global head of institutional capital, told Cointelegraph in an August interview.“Tokenization will become a mirror of the market. If the user experience is better, faster, and cheaper, people will default to tokenized assets,” Wroblewska said.Magazine: SEC’s U-turn on crypto leaves key questions unanswered