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How is the market doing today?

SEC Chair Paul Atkins reiterated his push for “Project Crypto,” working with the CFTC to develop a digital asset classification framework that clarifies when tokens are securities, and planning to roll out an “innovation exemption” to support trading of tokenized securities on-chain. This is seen as a major shift in regulation from enforcement to rulemaking, or as releasing institutional capital and boosting Bitcoin; currently around $77,586

On-chain sets the pricing for ChangXin Technology’s IPO: 526% premium and half of SK hynix’s market value. ChangXin Technology’s IPO is being subscribed for today. The CXMT Pre-IPO contract on Hyperliquid is directly quoted at $7.26, corresponding to a 526% premium over the A-share offer price of 8.66 yuan. The implied on-chain market capitalization is $485.5B, roughly equal to half of SK hynix’s market value. On-chain funds are using real money to price the primary market.

SEC Chair Paul Atkins reiterated his push for “Project Crypto,” saying he will work with the CFTC to develop a digital-asset classification framework to clarify when tokens constitute securities, and he plans to roll out an “innovation exemption” to support on-chain tokenized securities trading. This is seen as a major shift in regulation away from enforcement toward rulemaking, or as a signal to unlock institutional capital and strengthen Bitcoin; currently about $77,586

SEC Chair Paul Atkins reiterated his push for “Project Crypto,” saying he will work with the CFTC to develop a digital asset classification framework to clarify when tokens qualify as securities, and plans to roll out an “innovation exemption” to support trading of tokenized securities on-chain. This is seen as a major shift in regulation from enforcement to rulemaking, or as a signal to unlock institutional capital and strengthen Bitcoin—currently around $77,586.