Larry Fink Calls On SEC To Approve Tokenization Of Stocks

Larry Fink Calls On SEC To Approve Tokenization Of Stocks

BlackRock CEO Larry Fink urged the SEC to approve tokenized bonds and stocks to streamline financial markets in a CNBC interview. Speaking at the World Economic Forum in Davos, he emphasized how blockchain could simplify ownership structures and reduce the need for costly proxy voting.

“I want the SEC to rapidly approve the tokenization of bonds and stocks that will simplify things, make things easier,” Fink said. He explained that tokenization could directly notify owners of their holdings, cutting costs and reducing corporate complexity.

Fink criticized the current proxy voting system, calling it "open warfare" for CEOs across industries. He called for reforms to lower costs and improve shareholder engagement. On technological advancements, Fink referenced the potential of the recent $500 billion Stargate AI initiative, led by OpenAI.

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Lido Founder Denies "Second Ethereum Foundation" Rumor

Konstantin Lomashuk, co-founder of Lido, addressed rumors surrounding the creation of a "Second Foundation" within the Ethereum ecosystem. In a post on X, Lomashuk clarified, "The tweet was just a tweet - no actual second foundation has been created yet," dismissing speculation he was involved in forming the rumored organization.

The rumors surfaced following a backlash against the EF’s limited community engagement and amid Vitalik Buterin’s announcement of upcoming leadership changes. Lomashuk emphasized the need for more organizations supporting Ethereum, stating, "If a second foundation ever does form, it must have a clear purpose that complements the enormous work of current contributors."

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John McAfee’s Twitter Promotes AI Crypto Token Posthumously

The late John McAfee’s X account made a sensation by promoting "AIntivirus," a Solana AI meme coin claiming to embody the tech mogul’s legacy. The account declared, “I’m back with AIntivirus. An AI version of myself. You didn’t think I would miss this cycle, did you?” leading to speculation about the project’s legitimacy, since McAfee passed away in 2021.

While blockchain security firm PeckShield initially flagged the account as compromised, McAfee’s widow, Janice, defended the initiative, calling it a tribute to her husband’s vision for privacy and freedom. Critics, however, remain skeptical, with crypto influencer Adam Cochran calling it “Not hacked… just an AI grift coin from the account of checks notes …a dead guy.”

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Ledger Co-Founder Freed After Ransom Kidnapping

David Balland, a co-founder of French crypto wallet startup Ledger SAS, was kidnapped from his home in central France early Tuesday and freed Wednesday night after a police operation, according to a statement from the Paris prosecutor's office. The kidnappers demanded a substantial ransom in cryptocurrency, though authorities have not disclosed whether it was paid.

Balland, who co-founded Ledger in 2014, was previously the director of the company’s Vierzon factory, where the firm manufactures physical crypto wallets. Ledger, valued at €1.3 billion ($1.4 billion) following a €100 million ($104 million) funding round in 2023, employs around 700 people and is headquartered in Paris. After his release, Balland was placed in the care of emergency services.

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Data of the Day

Blockchain analytics firm Chainalysis revealed that 50% of wallets holding the TRUMP and MELANIA memecoins were new to Solana-based altcoins, marking their first foray beyond SOL or stablecoins. Nearly half of these buyers created their wallets the same day they purchased the tokens, with over 80% of wallet balances holding less than $1,000 worth of assets.

Despite most TRUMP meme coin holders making less than $100 in profits, around 50 whales have reportedly earned over $10 million each, accounting for the majority of the tokens' total value. The tokens brought significant on-chain activity, with TRUMP briefly surpassing Dogecoin's valuation at $75 billion before correcting 50% after the launch of MELANIA’s meme coin.

More Breaking News

• Bitwise files Dogecoin ETF registration, confirming plans to launch a Dogecoin-focused exchange-traded fund as the memecoin gains renewed traction.
• Phemex investigates a $29 million hack, reporting suspicious withdrawals from its hot wallets that were converted to Ethereum.
• Circle unveils Paymaster, allowing users to pay transaction fees on Arbitrum and Base using USDC instead of the native ETH token.
• YZi Labs takes an active role in YZi Labs, rebranded from Binance Labs, expanding its investment focus from crypto to AI and biotech.
• World Liberty Financial plans more TRX purchases, following a $10M WBTC buy and nearing the completion of its $1.1 billion WLFI token sale.
• Polymarket users bet on Trump’s next crypto-related pardons, with Roger Ver (Bitcoin Jesus) and Edward Snowden among the top predictions.
• Azuki’s Animecoin debuts with a $1.2B fully diluted valuation, despite users reporting issues with the airdrop claims website at launch.
• Puffer Finance launches CARROT token, allowing users to earn tokens via staking and governance for conversion in a future PUFFER airdrop.

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