Crypto Goes Legit: Banks, Gold, and IPOs – Oh My! 🚀💰

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Well, slap my wallet and call me a hodler-crypto is growing up! 🌱✨ Gone are the days of dog-themed coins and digital doodles dominating the headlines. In 2025, the big boys (and girls) of finance are rewriting the script, and it’s less *meme* and more *mandate*. 🏦📜

Two financial behemoths-HSBC and BNP Paribas-have decided to dip their toes into the blockchain pool by joining the Canton Foundation. Yes, the same Canton Foundation that’s all about tokenization. Because apparently, the future of finance isn’t just about money-it’s about turning everything into tokens. 🧱🔗 Following in the footsteps of Goldman Sachs (who’s been crypto-curious for a while now), these banks are here to remind us that blockchain isn’t just for the hoodie-wearing crowd. Suit and tie, anyone? 👔

Meanwhile, the crypto markets are buzzing like a Bitcoin miner in a heatwave. Billion-dollar shelf registrations? Check. IPOs that make your 401(k) look like pocket change? Double check. It’s a gold rush, but instead of pickaxes, everyone’s wielding whitepapers. 🏃💨

This week’s *Crypto Biz* newsletter is hotter than a GPU during a mining spree. Here’s the lowdown: HSBC and BNP Paribas cozying up to the Canton Foundation, Mega Matrix eyeing a $2 billion Ethena stablecoin treasure chest, Gemini aiming for a $3 billion IPO (because why not?), and tokenized gold sneaking its way into US retirement accounts. 📰✨

HSBC and BNP Paribas: Blockchain’s New BFFs

HSBC and BNP Paribas-two giants of the financial world-have officially joined the Canton Foundation, the blockchain gang that’s all about tokenization. 🏛️ They’re rubbing shoulders with the likes of Goldman Sachs and Moody’s Ratings, because nothing says “we’re serious” like a blockchain designed for institutional finance and real-world assets. 📈

A BNP Paribas exec (probably while sipping a latte in a high-rise office) said this move is all about “serving evolving client needs.” Translation: “We’re not missing the blockchain boat this time.” 🚢 Meanwhile, HSBC’s been busy applying for a stablecoin license in Hong Kong and dabbling in custody, bond issuance, and tokenization. Overachievers, much? 🏆

Mega Matrix: Betting Big on Ethena

Mega Matrix, the crypto holding company with a name straight out of a sci-fi novel, is planning to raise $2 billion for a treasury strategy centered on Ethena’s stablecoin ecosystem. 🤑 Their game plan? Focus exclusively on the ENA governance token, because why diversify when you can go all-in? 🎲

Ethena’s USDe stablecoin is the talk of the town, thanks to its fancy hedging mechanism that keeps it pegged to the dollar without traditional collateral. With a market cap of $13 billion, it’s basically the prom queen of stablecoins. 👑 Ethena’s USDe stablecoin growth chart

Gemini’s IPO: $3 Billion or Bust

The Winklevoss twins’ brainchild, Gemini, is gearing up for a $3 billion IPO. Yes, the same twins who sued Mark Zuckerberg are now aiming to conquer Wall Street. 🦸‍♂️🦸‍♂️ Updated filings show they’re pricing shares between $24 and $26, up from the initial $17 to $19 range. At this rate, they might just buy Facebook-er, Meta-outright. 💸

Nasdaq is backing the offering by acquiring 2.1 million shares of Gemini stock. And trading volumes on the exchange? Up to $200 million in 24 hours. Not too shabby for a couple of Harvard grads. 🎓

Tokenized Gold: Retirement’s New Bling

If you thought gold was just for jewelry and pirate treasure, think again. SmartGold is bringing tokenized gold to US retirement accounts, because why shouldn’t your IRA shine a little brighter? ✨ Through a partnership with Chintai Nexus, they’re tokenizing up to $1.6 billion worth of vaulted gold. Yes, you read that right-gold, but make it blockchain. 🏦⛓️

Here’s how it works: Investors buy and store gold through SmartGold, and Chintai issues digital tokens representing those holdings. Once onchain, these tokens can be used in yield-generating strategies, while the actual gold sits safely in a vault. It’s like having your cake and tokenizing it too. 🍰 Tokenized gold in IRAs

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2025-09-12 23:45