Centrifuge said governance proposal CP172 has passed, opening the way for what the protocol described as the first token-to-tokenized-equity conversion in its history. The move would allow eligible CFG holders to voluntarily exchange tokens for tokenized shares once required approvals and legal analysis are complete. Under the proposal posted on the governance forum, the Centrifuge Network Foundation would be reorganized and re-registered as Centrifuge, Inc., an exempted limited liability company in the Cayman Islands, for the purpose of issuing equity. Eligible holders would be able to convert at a 1 CFG to 1 share ratio through the Centrifuge platform, with no additional fee. The proposal also sets different participation routes based on holdings. Qualified holders with 100,000 CFG or more would be registered directly as shareholders, while those with less than 100,000 CFG would participate through a trust structure proposed in cooperation with CoinList. Centrifuge said the conversion would remain optional, and non-participating holders could keep their tokens or sell them on the open market. The protocol also said it would seek to maintain market liquidity during the conversion period. Legal guidance was provided by Ogier, with advisory support from Galaxy Digital Labs LLC and The Tokenized Asset Coalition.

A dense stretch of crypto and adjacent market developments unfolded between Aug. 25 and Aug. 26. The US Treasury said it is launching a Quantum Readiness Working Group, a public-private effort meant to help the financial sector migrate toward quantum-resistant technology in an orderly and operationally resilient way. One of its three workstreams is focused on digital assets and emerging technology risks. In Thailand, the securities regulator opened a public consultation on draft rules for crypto ETFs, with Bitcoin and Ether set as the only eligible assets at the initial stage and comments accepted through Sept. 20. Product launches and market-structure changes also stood out. Grayscale converted its Zcash Trust into the Zcash ETF, ticker ZCSH, and listed it on NYSE Arca, calling it the first ETF to provide direct Zcash exposure. The fund charges a 2.5% fee, and Grayscale said the revenue generated from that fee will flow back to the Zcash ecosystem. BlackRock, meanwhile, cut the minimum trade size for investors using in-kind Bitcoin subscriptions to create ETF shares from $25 million to $1 million in July. Robbie Mitchnick, BlackRock’s head of digital assets, said IBIT has now processed more than $5 billion of those conversions. Elsewhere, Kraken said some customer accounts were temporarily inaccessible after receiving tiny token transfers tied to a wallet associated with sanctioned rival HTX, while LayerZero outlined plans for an institutional onchain exchange called ATLAS. Several funding rounds, whale-position updates, tokenized-equity products, and ETF flow data rounded out the latest batch of market-moving items.

Grove Finance said it has established a strategic position in the Centrifuge ecosystem, with an initial holding of 37.8 million CFG, equal to about 5.4% of the token’s total supply. The announcement adds a treasury-style dimension to a relationship that, according to the company, dates back to the early MakerDAO period. The two sides already have more than $1.27 billion in assets deployed through Centrifuge infrastructure. Grove Finance said the new position shifts the relationship beyond protocol integration and toward closer strategic coordination. The companies plan to combine Centrifuge’s tokenization and distribution infrastructure with Grove Finance’s capital allocation capabilities to support the long-term development of the tokenized asset ecosystem. No additional details were disclosed in the brief announcement about the timing of future purchases or any broader allocation plan beyond the initial CFG holding.

A wide set of crypto, equity and AI developments shaped the July 27 news cycle. BitMart said it will wind down its exchange in phases, with new registrations, deposits and fresh orders already set to stop and all trading services ending on Aug. 26, 2026, while withdrawals remain open. Around the same time, Odos and Dango each published shutdown timetables, including read-only periods, trading cutoffs and fund withdrawal arrangements. Elsewhere, ChangXin Technology is set to list today at RMB 8.66 per share, with single-lot profit estimates ranging from roughly RMB 12,000 to RMB 20,200 based on different IPO gain benchmarks cited by Chinese media. Robinhood is also in talks with Crypto.com over a prediction-market partnership, according to The Wall Street Journal, and Binance Research said Gen Z is now the largest user group for its equity-linked products, contributing $80 billion in cumulative trading volume. The broader digest also covered Nvidia’s open-weight AI letter, OpenAI and Anthropic’s reported lobbying on open-source models, expected record earnings at SK hynix, Storj Labs’ Chapter 11 filing, a suspected security incident on WEMIX 3.0, and Fidelity’s call for the U.S. Senate to pass the CLARITY Act.

Ethereum and XRP outperformed major crypto assets while a wide range of altcoins posted sharp daily gains, pointing to stronger capital rotation into mid- and low-cap tokens.

BTC nears $68K with a 4.4% gain, ETH surges 8.6% to $2,054. Altcoins like XRP, SOL, and DOGE follow. Mid-caps CFG and POWER see outsized moves, supported by rising volumes.

Centrifuge's CFG surged more than 63% shortly after listing on Binance, climbing from about $0.12 to nearly $0.20, while daily trading volume rose to $45 million.

Centrifuge (CFG) surged over 200% intraday after Upbit listing, from $0.084 to $0.265, now trading near $0.1568. Speculation shifts to potential Binance listing and key technical levels.