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CFTC FAQ update allows FCMs to invest customer funds in permitted tokenized assets
Mantle tokenized asset count rises to 1,473 as distributed asset value reaches $476.1 million
Stablecoins and tokenized assets push Wall Street and crypto firms onto the same turf
CFTC Staff Says Futures Brokers May Put Customer Funds Into Eligible Tokenized Assets, Keep Records Onchain
Ondo
2026-09-22 02:25:09

Ondo drawn into inheritance and control dispute after founder Nathan Allman’s death

Ondo, one of the best-known names in tokenized real-world assets, is facing a governance fight after founder and CEO Nathan Allman died unexpectedly in May at age 32. Allman was not only the company’s founder and chief executive, but also its sole director and controlling shareholder, leaving a major question over who would control the company and his holdings after his death. Ondo said on May 26 that longtime president Ian De Bode would become CEO, describing him as the executive who had overseen strategy, products, and day-to-day operations over the previous two years. But the succession quickly turned into a legal battle because Allman reportedly left no will. Court filings said his estate includes a controlling interest in Ondo and a large amount of ONDO tokens, including both unlocked tokens and tokens scheduled to unlock over the coming years. The dispute now spans Delaware and Hawaii. Kathleen Allman, Nathan Allman’s mother and the personal representative of his estate, has challenged De Bode’s appointment and compensation package. In a separate Hawaii filing dated Sept. 16, Nathan’s half-sister Lani Clinton and early Ondo investor David Chen sought a limited conservatorship over Kathleen’s inherited estate interest, raising allegations about her ability to manage the assets. Kathleen has denied those claims, calling them baseless and part of a broader effort to remove her from control.

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Ondo drawn into inheritance and control dispute after founder Nathan Allman’s death
crypto market
2026-09-21 08:08:12

BigTime maps the crypto market-making sector, with GSR and rival firms shifting toward institutional business

BigTime has published a sector report on crypto market makers, arguing that the business is being reshaped by lower trading activity, rising institutional participation and a broader push into capital-markets services. The report says overall trading volume has kept falling from its September 2025 peak, while institutional trading share has climbed to a record 72%. It also points to derivatives activity, near-$100 billion ETF assets and a record stablecoin supply as signs that market structure is no longer retail-led. The report outlines several industry trends. It says the post-crash shakeout after the October 2025 sell-off increased concentration among market makers, while banks are increasingly using equity stakes and partnerships to gain crypto capabilities rather than building market-making desks themselves. Standard Chartered’s SC Ventures investment in GSR is cited as a leading example, alongside ties involving B2C2, FalconX and SBI. BigTime also highlights FalconX’s IPO filing in May 2026 and compares it with the sharply mixed post-listing performance of Circle, Bullish, Gemini and CoinShares. On strategy, the report says leading firms including Wintermute and GSR are moving beyond pure market making into brokerage, ETFs, tokenized assets and advisory work, effectively positioning themselves as broader crypto capital-markets platforms.

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BigTime maps the crypto market-making sector, with GSR and rival firms shifting toward institutional business
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