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NasdaqListed

Wormhole's W token enters 'value accrual' phase with strategic reserve
NFT Gaming

SharpLink to tokenize Nasdaq-listed SBET shares on Ethereum

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SharpLink is set to become the first public company to issue its Nasdaq-listed SBET shares natively on Ethereum, appointing Superstate as digital transfer agent to oversee compliant onchain issuance.

Summary

  • SharpLink plans to tokenize its Nasdaq-listed SBET shares directly on Ethereum.
  • Superstate’s Opening Bell platform will manage compliant onchain issuance.
  • The partnership extends beyond issuance, exploring AMM-based trading of tokenized equity.

In an announcement on Sept. 25, SharpLink Gaming, Inc. said it will tokenize its SEC-registered common stock directly on the Ethereum blockchain, appointing financial technology firm Superstate as its Digital Transfer Agent.

The partnership will utilize Superstate’s ‘Opening Bell’ platform for the issuance. The Minneapolis-based company, chaired by Ethereum co-founder Joseph Lubin, stated the move is intended to demonstrate how blockchain infrastructure can create shareholder value and improve market efficiency.

“Tokenizing SharpLink’s equity directly on Ethereum is far more than a technological achievement – it is a statement about where we believe the future of the global capital markets is headed. At SharpLink, our core mission is two-fold: to build the world’s most trusted digital asset treasury and to pursue initiatives that accelerate the global adoption of the Ethereum network.” Lubin said.

Beyond issuance: exploring AMMs and compliant secondary markets

The partnership’s ambitions extend far beyond a simple onchain issuance. SharpLink and Superstate intend to explore one of the most complex frontiers in digital finance: enabling compliant secondary trading of tokenized equity on automated market makers and other DeFi protocols.

This initiative aligns with the SEC’s Project Crypto, a regulatory framework designed to accommodate blockchain-based markets. The goal is to demonstrate how tokenized securities can unlock deeper liquidity and operate within a modernized capital market structure.

If realized, this effort could reposition SharpLink’s tokenized equity and future issuances via Superstate’s Opening Bell as instruments with broader utility than traditional book-entry stock. Trading on AMMs would represent a structural shift in how liquidity forms around public equities, potentially enabling real-time settlement, global investor access, and transparent price discovery in a way conventional exchanges cannot match.

Notably, the partnership with Superstate is a strategic extension of SharpLink’s deep commitment to Ethereum. With Lubin at the helm, the company has aggressively positioned itself as a corporate leader in the Ethereum ecosystem, having launched a significant ETH treasury strategy earlier this year.

Investors have so far met the news with caution. SharpLink’s SBET stock traded down 7.63% on Thursday, settling at $16.26 after opening the session at $16.33 and closing the previous day at $17.58. The drop mirrors a wider pullback across crypto markets but also underscores how experimental the path ahead remains.



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Hong Kong (Dan Freeman/Unsplash)
Crypto Trends

A Nasdaq-Listed Firm Raises $1.65B to Launch Solana Treasury, Shares Surge 128%

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Forward Industries (NASDAQ: FORD) has raised $1.65 billion in cash and stablecoin commitments through a private investment in public equity (PIPE) led by Galaxy Digital, Jump Crypto, and Multicoin Capital, marking the largest Solana-focused treasury financing to date.

The firm’s shares jumped 128% in pre-market trading, while SOL rose by 2.3% following the announcement

The funding will support Forward Industries’ plan to become a publicly traded institutional player in the Solana ecosystem. Galaxy and Jump will provide infrastructure and advisory services, while Multicoin, an early Solana backer, brings investment expertise, according to a Monday press release.

The company said its strategy aims to generate on-chain returns and increase long-term shareholder value through active participation in Solana’s decentralized finance markets.

Forward Industries will be competing with the likes of Upexi Inc. (UPXI), which owns more than 2 million SOL tokens ($430 million) and Sharps Technology (STSS) after it raised $400 million to establish a solana treasury in August. Another Solana treasury company, SOL Strategies, which holds more than 435K SOL tokens, said on Sept. 5 that it will uplist from Toronto to Nasdaq on Sept 5.

As part of the transaction, Multicoin co-founder and managing partner Kyle Samani is expected to become chairman of Forward’s board. Galaxy President and CIO Chris Ferraro and Jump Crypto CIO Saurabh Sharma will join as board observers.

“An institutional-scale treasury can be deployed in sophisticated ways within the Solana ecosystem to create differentiated value,” Samani said in a statement.

Forward has also engaged Cantor Fitzgerald as lead placement agent, with Galaxy’s investment banking arm serving as co-placement agent and financial advisor.

Founded more than 60 years ago as a design company for medical and technology firms, Forward Industries is now repositioning itself as a digital asset treasury operator focused on Solana.



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A women drops her vote into a wooden box.
GameFi Guides

Nasdaq-Listed Crypto Exchange Group Coincheck Buys Regulated Prime Broker Aplo

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Japanese cryptocurrency exchange Coincheck, whose Netherlands-based holding company listed the trading platform on the Nasdaq last year (CNCK), has acquired Aplo, a digital asset prime brokerage firm regulated in France by the Autorité des Marchés Financiers (AMF).

The acquisition will help Coincheck, a popular exchange in Japan, expand into Europe, the companies said on Tuesday. The financial terms of the deal were not revealed.

Coincheck was established in Tokyo, Japan, in 2014, having rebranded from an earlier bitcoin wallet and payment company called ResuPress, founded in 2012 by Koichiro Wada and Yusuke Otsuka.

Coincheck Group N.V., which is headquartered in the Netherlands, listed on the Nasdaq late last year via a merger with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV (THCP).

As part of the acquisition, all issued and outstanding shares of Aplo will be exchanged for newly issued ordinary shares of Coincheck Group, a transaction expected to close in October 2025, according to a press release.

“Aplo brings us proven technology, expertise recognized by institutional clients in Europe, and a high performance team with an entrepreneurial culture,” said Gary Simanson, CEO of Coincheck Group in a statement.

In addition to being registered under the AMF in France as a Digital Asset Service Provider. Aplo is in the process of obtaining a full crypto asset service provider license under the European Union’s Market in Crypto Assets Regulation (MiCA).



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Chainlink
GameFi Guides

Chainlink (LINK) Chosen By Nasdaq-Listed Caliber For New Crypto Treasury

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

An increasing number of asset managers are adopting cryptocurrencies as treasury reserves. Nasdaq-listed Caliber is the latest to join this trend, having recently announced the formal approval of its new Digital Asset Treasury (DAT) Strategy, which features decentralized oracle provider Chainlink (LINK) at its core.

LINK Tokens As Reserve Assets

The announcement came from Caliber’s Board of Directors, which outlined its intention to not only purchase LINK tokens but also engage in activities aimed at maximizing returns from these digital assets. 

With a focus on the token’s long-term appreciation potential, the real state-focused asset manager plans to hold the cryptocurrency as part of its equity portfolio and generate yield through staking, further diversifying its investment strategy.

To support the implementation of this digital asset approach, Caliber has established the Caliber Crypto Advisory Board (CCAB). This dedicated advisory group, composed of experts in digital assets and blockchain technology, will provide guidance on the DAT Strategy and Policy.. 

The DAT Policy itself outlines a framework for the acquisition, custody, and management of digital assets, including specific protocols for security and internal controls. 

The Board believes that adopting this strategy will not only enhance shareholder value but also strengthen the company’s balance sheet and improve liquidity. By holding LINK as a reserve asset.

Additionally, the integration of Chainlink’s technology is expected to streamline key business processes, such as asset valuation and fund administration, further benefiting the company.

Chainlink’s Partnership With US Commerce Department

Chris Loeffler, Chief Executive Officer of Caliber, emphasized the importance of this strategic move, stating, “We believe that implementing a digital asset treasury strategy strengthens our balance sheet and aligns Caliber with the future of digital finance.” 

He noted that this initiative positions Caliber at the forefront of innovation in the real estate and investment management sectors, reinforcing its commitment to becoming a “diversified alternative asset manager.”

To ensure the responsible execution of this strategy, the asset manager said it has collaborated with a team of experts, including legal advisors from Perkins Coie and Manatt, Phelps & Phillips, as well as its existing audit firm, Deloitte.

Caliber’s announcement precedes a significant breakthrough for the Chainlink network, which recently partnered with the US Commerce Department to bring critical macroeconomic data on-chain. 

The 1D chart shows LINK’s price volatility witnessed over the past week. Source: LINKUSDT on TradingView.com

NewsBTC reported earlier today that following the disclosure of the partnership, LINK’s price experienced a notable surge, reaching approximately $25, reflecting a 6% increase. As of this writing, the Chainlink’s price has dropped toward $24.86, losing earlier gains to a 1.8% increase now recorded in the 24-hour time frame. 

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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Jamie Crawley
Crypto Trends

Nasdaq-Listed SoFi Taps Bitcoin Lightning for Remittances

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Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. We’re Margaux Nijkerk & Jamie Crawley, reporters at CoinDesk.

In this issue:

  • Nasdaq-Listed SoFi Taps Bitcoin Lightning for Remittances
  • Bitcoin DeFi Project Enters Solana with BTC-Backed Token YBTC
  • Valantis Acquires stHYPE, Expanding Liquid Staking Reach on Hyperliquid
  • Hyperbeat Secures $5.2M Backing From ether.Fi, Electric Capital

Network News

SOFI TAPS BITCOIN LIGHTNING FOR REMITTANCES: SoFi Technologies will soon allow remittance payments on top of the Bitcoin layer-2 Lightning Network through a partnership with Lightspark, aiming to bring real-time international money transfers to its members. SoFi’s remittance product, which is expected to roll out later this year, will allow users to send U.S. dollars through the SoFi app, with recipients receiving local currency deposits abroad, using Lightspark’s Universal Money Address (UMA). Lightspark’s UMA provides access to a global payment rail designed for speed and scale. Transfers will display upfront exchange rates and fees, addressing longstanding pain points in traditional remittance services. The launch follows SoFi’s reentry into crypto, after halting services in 2023 during its transition to a national bank. Earlier this year, it revealed plans to offer international remittances through blockchain and stablecoins and allow users to invest in crypto. — Jamie Crawley Read more.

BITLAYER ENTERS SOLANA WITH YBTC: Bitcoin DeFi project Bitlayer has partnered with Kamino Finance and Orca to bring its bitcoin-backed token, YBTC, to the Solana ecosystem. This integration is intended to combine Bitlayer’s security with Solana’s speed and scalability, aligning with Bitlayer’s goal of expanding the Bitcoin DeFi sector. It will provide bitcoin holders with native BTC exposure and yield opportunities, said Charlie Hu, co-founder of Bitlayer. YBTC, pegged 1:1 with BTC, is central to Bitlayer’s BitVM bridge, which is designed for trust-minimized bitcoin transfers by eliminating centralized intermediaries. The token serves as a direct representation of users’ locked BTC within the Bitlayer ecosystem, enabling seamless interoperability between Bitcoin and decentralized finance applications. By holding YBTC, Solana users can maximize yields through Kamino’s institutional-grade earn vaults, which provide auto-compounding and optimized BTC-denominated returns, helping assets grow effortlessly. — Omkar Godbole Read more.

VALANTIS ACQUIRES stHYPE: Valantis, a decentralized exchange (DEX) protocol, has acquired Staked Hype (stHYPE), the second-largest liquid staking token (LST) on Hyperliquid. Financial terms of the deal were not disclosed. stHYPE, which launched as the first LST on HyperEVM, currently holds about $180 million in total value locked (TVL), according to the stHYPE website. Following the deal, stHYPE’s operations, development, and scaling will be managed by Valantis Labs. Addison Spiegel, founder of Thunderhead, the team behind stHYPE, will serve as an advisor to Valantis. Liquid staking has become a central pillar within Hyperliquid’s ecosystem. According to DeFiLlama, liquid staking accounts for more than half of Hyperliquid L1’s $2.26 billion in DeFi TVL. The acquisition builds on Valantis’ earlier launch of LST-specific DEX pools for both stHYPE and hHYPE, which together have attracted nearly $70 million in TVL and processed more than $500 million in trading volume. — Oliver Knight Read more.

HYPERBEAT GETS $5.2M IN SEED: Hyperbeat, a protocol powering yield infrastructure on the Hyperliquid decentralized exchange, has closed a $5.2 million oversubscribed seed round co-led by ether.fi Ventures and Electric Capital. The raise will be used to build out their yield infrastructure for traders, protocols, and institutions that are tapped into the Hyperliquid ecosystem. The round also drew investments from Coinbase Ventures, Chapter One, Selini, Maelstrom, Anchorage Digital, and community backers via the HyperCollective. Hyperbeat serves as the native yield layer for Hyperliquid, building permissionless financial infrastructure that allows anyone to earn, stake, and spend directly from their on-chain portfolio. It unlocks yield generated by Hyperliquid’s funding rates—previously accessible only to sophisticated market participants—and packages it into simple, tokenized vaults. The news of the seed raise comes as Hyperliquid’s total value locked surpasses $2.1 billion, and as institutions are starting to develop greater interest in its ecosystem. — Margaux Nijkerk Read more.

In Other News

  • SkyBridge Capital, Anthony Scaramucci’s investment management firm, plans to tokenize $300 million worth of its hedge funds on the Avalanche network. The firm is bringing its Digital Macro Master Fund and Legion Strategies on-chain in partnership with tokenization provider Tokeny and its parent, Apex Group, which manages more than $3.5 trillion in assets, according to the press release shared with CoinDesk. Apex acquired Tokeny earlier this year. The initiative uses the ERC-3643 token standard with operational support from Apex’s Digital 3.0 platform, which handles issuance, administration, and distribution. — Kristzian Sandor Read more.
  • Thumzup Media, which counts Donald Trump Jr. as a large shareholder, said it will acquire Dogehash Technologies, Inc. in an all-stock deal, pivoting from digital marketing into industrial-scale crypto mining. Under the agreement, Dogehash shareholders will receive 30.7 million Thumzup shares, according to a Tuesday release, valuing the transaction at $153.8 million, based on the shares’ closing price. The combined company will rebrand as Dogehash Technologies Holdings, Inc. and list on Nasdaq under the ticker XDOG, pending shareholder approval later this year. The company says it will also use Dogecoin’s DogeOS layer 2 to stake in DeFi products, aiming to boost miner returns beyond standard rewards. — Sam Reynolds Read more.

Regulatory and Policy

  • The crypto industry is mounting a counteroffensive against Wall Street bankers’ bid to rewrite the U.S.’ new stablecoin law, arguing that attempts to roll back core provisions of the GENIUS Act would tilt the field toward traditional banks. In a letter to Senate Banking Committee leaders dated Aug. 19, the Crypto Council for Innovation and the Blockchain Association urged lawmakers to reject proposals from the American Bankers Association, Bank Policy Institute and state banking groups that called for stripping out Section 16(d) of the law and banning yield programs offered by affiliates of stablecoin issuers. Section 16(d) allows subsidiaries of state-chartered institutions to conduct money transmission across state lines in support of stablecoin issuer activities, ensuring holders can redeem their tokens nationwide without needing separate state licenses. Banking groups warned earlier this month that allowing state-chartered, uninsured institutions to issue stablecoins and operate nationwide would amount to regulatory arbitrage, bypassing state licensing regimes. — Sam Reynolds Read More
  • The U.S. Federal Reserve’s newest vice chair who supervises Wall Street banking, Michelle Bowman, made a crypto speech on Tuesday that could have been uttered by one of the industry’s own policy wonks, advocating that banks get behind the digital assets surge and that the Fed give the sector rules that won’t get in crypto’s way. At the Wyoming Blockchain Symposium, Bowman warned banks that don’t embrace the shift toward crypto “will play a diminished role in the financial system more broadly,” and she further underlined what’s already been an obvious change in crypto sentiment from U.S. banking regulators. “Your industry has already experienced significant frictions with bank regulators applying unclear standards, conflicting guidance, and inconsistent regulatory interpretations,” she said. “We need a clear, strategic regulatory framework that will facilitate the adoption of new technology, recognizing that in some cases, it may be inadequate and inappropriate to apply existing regulatory guidance to address emerging tech.” — Jesse Hamilton Read more.

Calendar

  • Sept. 22-28: Korea Blockchain Week, Seoul
  • Oct. 1-2: Token2049, Singapore
  • Oct. 13-15: Digital Asset Summit, London
  • Oct. 16-17: European Blockchain Convention, Barcelona
  • Nov. 17-22: Devconnect, Buenos Aires
  • Dec. 11-13: Solana Breakpoint, Abu Dhabi
  • Feb. 10-12, 2026: Consensus, Hong Kong
  • May 5-7, 2026: Consensus, Miami



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