Ondo Finance President Ian De Bode joins Jennifer Sanasie and Andy Baehr on CoinDesk Live at the Ondo Summit to discuss the firm's ascent to more than $2 billion in TVL and its roadmap for 2026. De Bode explains how Ondo is moving beyond simple asset issuance to build a comprehensive on-chain prime brokerage. A key pillar of this strategy is the launch of Ondo Perps, a platform that allows users to trade perpetual futures on equities and commodities using their tokenized spot assets as collateral. By bridg ...

As filed with the Securities and Exchange Commission on February 4, 2026 Registration No. 333-292822 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 2 to FORM S-1 REGISTRATION STATEMENT Table of Contents UNDER THE SECURITIES ACT OF 1933 Clear Street Group Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 6211 86-2376416 (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Emplo ...

UNDER THE SECURITIES ACT OF 1933 Clear Street Group Inc. (Exact Name of Registrant as Specified in Its Charter) Table of Contents As filed with the Securities and Exchange Commission on January 20, 2026 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classification Code Number) Delaware 6211 86-2376416 (I.R.S. Employer Identification Number) 150 Greenwich Street ...

Core Insights - Ethereum is leading the "institutional race" to modernize global financial systems, with major financial players like BlackRock, Fidelity, and JPMorgan favoring it for on-chain activities [1] - Institutions are focused on upgrading markets fundamentally rather than engaging in speculative activities, which is supported by Ethereum's reliability and established presence as a smart contract platform [2] Regulatory Developments - The U.S. regulatory landscape is shifting, with the GENIUS Act legitimizing the use of public blockchains for stablecoins, despite delays in the market structure bill [3] - The GENIUS Act has reduced legal risks for banks and broker-dealers, enabling traditional finance to move significant amounts of tokenized assets onto Ethereum [4] Institutional Adoption - BlackRock's BUIDL fund, which started on Ethereum, has grown to over $2 billion in assets and expanded to other networks [5] - JPMorgan Chase has launched its first tokenized money-market fund on Ethereum, starting with an investment of $100 million [5] Market Predictions - Ethereum's price is projected to reach $15,000 by the end of 2026, with a potential market cap expansion from hundreds of billions to multi-trillions [6] - This optimistic outlook is based on a fivefold increase in the stablecoin market, a similar growth in tokenized real-world assets, and Ethereum's role as a "productive store of value" [7]

Core Viewpoint - Coinbase is expanding its services to include stock trading, aiming to become an "everything exchange" that integrates crypto, equities, and alternative markets on a single platform [1]. Group 1: Stock Trading Expansion - Coinbase has started rolling out stock trading to a limited user group, positioning itself against traditional brokerages and competitors like Robinhood [1]. - The exchange currently utilizes Apex Fintech Solutions for backend operations to offer stocks through conventional methods, with plans to broaden access to all customers soon [3]. Group 2: Leadership and Vision - CEO Brian Armstrong emphasized the company's expertise in crypto and its trusted brand, asserting that Coinbase is well-positioned to lead as financial assets transition to blockchain [2]. - Armstrong outlined three strategic priorities for 2026, including building a global everything exchange, scaling stablecoins and payments, and enhancing user engagement through various tools and applications [5]. Group 3: Tokenized Equities - Armstrong noted that fully tokenized equities are still years away, requiring significant coordination with the SEC, but he anticipates a transition beginning within two years, starting with newer companies [3][4]. - Monthly transfer volumes for tokenized equities have increased by approximately 19% over the past 30 days, reaching about $2.41 billion [4]. Group 4: Diversification into Prediction Markets - Coinbase is expanding its offerings to include prediction markets through a partnership with Kalshi, allowing event contracts across various sectors [6].

Core Viewpoint - State Street Corporation has launched a new digital finance infrastructure aimed at bridging traditional and blockchain ecosystems, which is expected to enhance its position in the tokenized asset services market [1][3]. Financial Performance - Analysts anticipate State Street will report quarterly earnings of $2.84 per share, an increase from $2.60 per share in the same period last year [2]. - The consensus estimate for quarterly revenue is $3.62 billion, up from $3.41 billion a year earlier [2]. Digital Asset Platform Features - The Digital Asset Platform is designed to support tokenized assets, including tokenized ETFs, money market funds, and cash products, providing wallet management, custodial support, and cash handling tools [3]. - The platform aims to facilitate the development and operation of tokenized products across public and private permissioned blockchains while ensuring a seamless connection to existing financial systems [4]. Security and Compliance - The platform incorporates enhanced security, operational controls, and on-chain compliance tools to ensure secure access to tokenized products for institutional clients [4]. - The ongoing evolution of the platform will align with regulatory expectations and market needs, as stated by the chief product officer [6]. Strategic Commitment - State Street's initiative reflects its commitment to assist clients in navigating the rapidly evolving digital asset sector, leveraging expertise from its global business and investment management teams [7]. - The launch is seen as a significant step in State Street's digital asset strategy, moving from experimentation to practical, scalable solutions [5].

Core Insights - State Street Corporation has launched a new digital finance infrastructure aimed at bridging traditional and blockchain ecosystems, which has positively impacted its stock performance [1][7] Financial Performance - Analysts expect State Street to report quarterly earnings of $2.84 per share, an increase from $2.60 per share in the same period last year [2] - The consensus estimate for quarterly revenue is $3.62 billion, up from $3.41 billion a year earlier [2] Digital Asset Platform - The new Digital Asset Platform is designed to support tokenized assets, including tokenized ETFs, money market funds, and cash products [3] - The platform includes features such as wallet management, custodial support, and cash handling tools [3] Institutional Support - The platform aims to assist institutions in developing and operating tokenized products across public and private permissioned blockchains, while ensuring a seamless connection to existing financial systems [4] - Enhanced security, operational controls, and on-chain compliance tools are integral to the platform's design [4] Executive Insights - Joerg Ambrosius, president of investment services at State Street, emphasized that this launch signifies a shift from experimentation to practical, scalable solutions [5] - Donna Milrod, chief product officer, noted the importance of reliable, interoperable, and safe digital infrastructure for clients [5] Strategic Commitment - State Street's platform reflects its commitment to helping clients navigate the evolving digital asset sector, leveraging expertise from its global business [7]

Core Insights - Franklin Templeton is adapting its institutional money market funds to align with blockchain-based finance, targeting the expanding market for tokenized assets and regulated stablecoins [1][3] Group 1: Fund Modifications - The Western Asset Institutional Treasury Obligations Fund (LUIXX) has been updated to comply with the GENIUS Act, which establishes reserve standards for regulated stablecoins, now holding only short-term U.S. Treasuries with maturities under 93 days [2] - The Western Asset Institutional Treasury Reserves Fund (DIGXX) has introduced a Digital Institutional Share Class for distribution on blockchain platforms, allowing for on-chain recording and transfer of fund shares [3] Group 2: Market Positioning - As stablecoins gain traction in payments and settlements, regulated reserve products like LUIXX are positioned to play a crucial role in the financial infrastructure [3] - Franklin Templeton's Head of Digital Assets emphasized the importance of making traditional funds more accessible and useful in the blockchain space, rather than questioning their capabilities [4] Group 3: Recent Developments - Franklin Templeton has been increasingly integrating blockchain technology, having launched a tokenized money market fund in Hong Kong in November and expanded its Benji Technology Platform to the Canton Network during the same month [5]

Core Insights - Morgan Stanley is set to launch its own digital wallet in the latter half of 2026, marking a significant move towards integrating blockchain technology into traditional finance services [1][9] - The bank has been gradually increasing its involvement in the crypto sector, exploring various avenues such as offering bitcoin exposure and advising on digital asset strategies [2][6] - The in-house wallet aims to streamline client access to tokenized assets, catering to high-net-worth individuals and institutional investors [3][4] Digital Wallet Development - The wallet is designed to support multiple types of digital tokens beyond cryptocurrencies, functioning as a comprehensive storage solution for seamless transactions [4] - This initiative aligns with industry trends where traditional financial institutions are tokenizing real-world assets to enhance liquidity and efficiency [5] Competitive Landscape - Morgan Stanley's recent application for spot ETFs tracking major cryptocurrencies indicates a multifaceted strategy to capture market share in the digital economy [6][7] - The combination of ETF products and a proprietary wallet could create an ecosystem appealing to both retail and professional investors, potentially bridging traditional banking and crypto services [7] Market Context - The move reflects growing confidence in blockchain stability, with Bitcoin recently surpassing previous highs amid renewed institutional interest [8] - The global tokenized asset market is projected to reach trillions in value over the next decade, presenting substantial potential rewards for Morgan Stanley [9]

Group 1: Market Outlook and Predictions - The cryptocurrency market has experienced significant volatility in 2025, with major altcoins trading below their all-time highs (ATHs) [1] - Prominent crypto experts express optimism for 2026, anticipating potential recovery and growth in the market [1] Group 2: Stablecoins as Financial Infrastructure - BlackRock emphasizes the role of stablecoins as essential financial infrastructure for payments, settlement, and liquidity, moving beyond speculative trading [2] - Samara Cohen from BlackRock states that stablecoins are bridging traditional finance and digital liquidity, indicating their growing importance [3] Group 3: Bitcoin Price Predictions - Grayscale forecasts that Bitcoin will reach a new ATH in the first half of 2026, driven by clearer U.S. policies and increasing institutional demand [4] - The firm believes that macro liquidity and regulation will play a significant role in Bitcoin's price movements, moving away from the traditional halving cycle [4] Group 4: Market Structure and Future Trends - Coinbase predicts that market structure will define the crypto landscape in 2026, with a focus on perpetual futures, prediction markets, and stablecoins [5][6] - The stablecoin market cap is projected to reach approximately $1.2 trillion by 2028, highlighting its significance in real-world applications [6] Group 5: Tokenized Assets and Real-World Use Cases - Galaxy's report indicates that tokenized assets will gain traction in mainstream collateral and capital markets, alongside stablecoins processing more volume than U.S. ACH [5] - Public chains are expected to innovate in value capture, with at least one Layer 1 (L1) blockchain likely to develop a revenue-generating application [5]