SEC commissioner Peirce says onchain firms should talk to SEC. Bullish sentiment around ethereum. Robinhood stock nears all time high, and, memecoins are in at NFT exchanges. Jane King with the latest from the NYSE.
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Thanks, Rey.
Here's a look at your Coin Street headlines.
US Securities and Exchange Commission member Hester Pearce issued a blanket warning for companies considering distributing and trading tokenized securities.
Purse called on companies to discuss their potential tokenized offerings with SEC officials amid new entrants and many traditional firms embracing on chain products.
Purse says that tokenized.
Securities are still securities.
In the meantime, there is bullish sentiment around the second largest cryptocurrency.
Tesseract CEO James Harris predicts Ethereum will skyrocket 160% from its current price of 2,570-ish before the end of this year.
Harris points to the over 1 billion in inflows to spot ether exchange traded funds in the US in June.
And the recent hard fork as bullish factors.
Robin Hood's stock is also near record highs.
Its strategic embrace of blockchain technology and tokenization has fueled a nearly 30% rally in its stock over the past month.
Robin Hood's stock trading under the ticker hood surged yesterday to over $94 a share, so that puts it within 4% of its all-time closing high, which was set on July 2nd.
And the market for non-fungible tokens is plunging, and platforms like Open Sea and Magic Eden are pivoting to allow users to trade cryptocurrencies directly on their platforms.
There's also a regulatory reason for the pivot.
Under President Trump, the US SEC has largely halted.
Enforcement around digital asset trading.
Earlier this year, it dropped an investigation into Open Sea, and that has allowed marketplaces to broaden their ambitions from NFTs to crypto trading and possibly further into tokenized stocks and real world assets, and that's the latest 3 headlines.