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MindsEye's lead actor talks being the face of a game that flops hard
Game Updates

MindsEye’s lead actor talks being the face of a game that flops hard

by admin September 16, 2025



From an outside perspective, I think it was probably fairly obvious that MindsEye was never going to do very well. There was barely any game to show off, so they mostly didn’t. What they did show didn’t look very good either, and when it came out, it was a glitchy mess. This all put 300 staff members at risk of being laid off, the full extent of which still being not particularly clear. And in a recent interview, the game’s lead actor Alex Hernandez has shared his own experience of being the face of the game (spoiler alert: it’s not great).


Speaking on the FRVR Podcast, Hernandez spoke of what it was like having his face attached to such a mess of a game, quite plainly saying, “It’s hard. I’m not gonna lie about that. It’s a difficult thing to spend two-and-a-half years on a project that you’re really proud of and you’re proud of your contribution to it… for the 300 or so employees at Build A Rocket Boy, you’re like ‘I hope this goes really well.’ I want them all to get raises and have a giant party and have this be the job that launches their career.”


Perhaps the more upsetting thing to hear Hernandez say was how his name will “now be associated with something that many people have regarded as pretty f*****g bad. And as an artist, as a man, as a gamer, that hurts, it’s wildly painful.” This is an aspect of an increased use of motion and facial capture we’re not really thinking of.


My best guess is that actors’ real faces are being used more and more to help get better and more believable in-game performances (those who know better feel free to sound off in the comments). The trade-off here is that you are then thrusting some of these actors into the spotlight, one which features a community that, as many of us know, isn’t always the kindest, and I am putting that as politely as possible.


Personally, I always prefer a tightly designed character over motion capture anyway – even if I did enjoy getting a first-person perspective of Mads Mikkelsen in Death Stranding – but perhaps there’s yet another lesson to be learned here in the need for safeguards to be put in place for the people that are being put at the front of high profile games.



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September 16, 2025 0 comments
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Colman Domingo Talks Inspirations for His 'Running Man' Villain
Product Reviews

Colman Domingo Talks Inspirations for His ‘Running Man’ Villain

by admin September 15, 2025


The upcoming Running Man remake is set in a United States where people watch contestants try to survive being hunted. Watch any game show (or reality TV in general), and the host is as important as the players themselves, and that’s where Colman Domingo comes in.

He plays Bobby Thompson in the film, who hosts the titular blood sport that’s the talk of the country. We got a little bit of the character in the trailer, and according to Domingo, playing a guy like that is like “[being] in a whole different film than anyone else.” Like he told Entertainment Weekly, Thompson’s only seen through the context of his show, where he’s “operating, manipulating, charming, not only the studio audience, but the guests as well.”

Despite not having any backstory to lean on, Domingo revealed two inspirations for Bobby: his old theater days of “being able to hold an audience” and Jerry Springer, whose reality show used to be a big deal in the mid-2000s and became a reliable time-killer for schoolkids during snow days. Domingo watched the two-part documentary on the late TV show host the night before filming his scenes and recognized Springer’s skill in “inciting and letting people…do what they need to do on a platform and really let them engage in the worst behavior and still feel like he had nothing to do with it. He’s just there moving the show along. I felt like, what an interesting strategic way to abstain from any responsibility of what happens on that set.”

Bobby’s need to keep the masses entertained also extends to his look, which Domingo said comes courtesy of writer/director Edgar Wright and costume designers keeping him looking “impeccable in every way. Maybe it made sense for Edgar to cast me because I think he knew I could possibly pull it off.” Style has always been a hallmark of Wright’s movies, and Running Man looks to keep that trend going—which, to Domingo, is a great incentive to see the film in theaters on November 14. The holidays are no stranger to event films, and he’s positive “this one is going to be a massive event in our cinemas.”

Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who.



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September 15, 2025 0 comments
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Hoskinson talks big, Cardano’s reality tells another story
Crypto Trends

Hoskinson talks big, Cardano’s reality tells another story

by admin September 11, 2025



From Ethiopia’s education system to a Wyoming health clinic, Hoskinson projects grand visions, but Cardano’s progress remains limited, uneven, and increasingly overshadowed by rivals.

Summary

  • Charles Hoskinson promotes bold ventures in healthcare and de-extinction while Cardano, his blockchain, struggles to match rivals in adoption, liquidity, and developer engagement.
  • Cardano’s smart contract rollout in 2021 proved rigid and discouraging for developers, pushing growth toward Ethereum and Solana, which now dominate in transactions, DeFi, and developer activity.
  • Governance reforms have introduced budgeting and on-chain voting, yet disputes, abstentions, and concentration of power continue to raise doubts about Cardano’s independence and long-term direction.
  • Hoskinson critiques Ethereum’s governance and design while pursuing side projects, but Cardano’s stalled adoption and weaker fundamentals suggest a widening gap between his rhetoric and delivery.

The Hoskinson pitch

In September 2025, Cardano (ADA) founder Charles Hoskinson returned to the spotlight at the Rare Evo conference in Las Vegas. Speaking to CoinDesk’s cameras, he declared that “health care is just f***ed in America” while unveiling a $200 million clinic project in Gillette, Wyoming.

He described the clinic as open-sourced and patient-first, saying it already serves about one-third of the town’s population. He added that patients unable to pay are not charged, and claimed the existing hospital was resisting the initiative by obstructing the credentialing of his doctors. 

Hoskinson also promised that artificial intelligence agents and selective disclosure cryptography would eventually be built into the system.

Almost at the same time, Hoskinson returned to one of his long-running critiques of Ethereum (ETH). He argued that the “Magnificent Seven” technology firms could become the next gatekeepers of liquidity in crypto and may choose to bypass Ethereum altogether.

He repeated his prediction that Ethereum might not survive beyond the next 10 to 15 years, pointing to its reliance on external scaling solutions and what he considers weak architectural design.

That skepticism toward rivals has often gone hand in hand with bold promises about Cardano’s own reach. 

In 2021, Hoskinson announced a partnership with Ethiopia’s Ministry of Education that was presented as a national breakthrough, with blockchain IDs promised for 5 million students and 750,000 teachers and academic records verified directly on Cardano. 

The project was held up as proof of real-world adoption at scale. In 2024, Input Output Global described the effort instead as a set of lessons and reflections and noted that Atala PRISM, once central to the deal, had been folded into Hyperledger Identus. 

That change reframed a flagship deployment into a learning exercise and placed the technology under a consortium standard rather than Cardano itself, undercutting the original narrative of transformative adoption. 

With so much activity around Hoskinson and Cardano, it is worth looking more closely at where the project stands and how it compares with its competitors.

Solana and Ethereum run while Cardano crawls

In that same interview, Hoskinson made a rare admission. He conceded that Cardano “bet wrong” on its smart contract model in 2021.

He described it as too rigid and unfriendly for developers, a choice that pushed many builders toward faster-growing ecosystems like Solana (SOL).

The timeline shows how this unfolded. Cardano launched in 2017 but did not release general-purpose smart contracts until the Alonzo hard fork on September 12, 2021.

Expectations had been building for years, yet within days, developers ran into concurrency issues on early decentralized exchange testnets such as Minswap.

These problems came from Cardano’s extended UTXO architecture, which processes transactions differently from Ethereum’s account-based model. The design was promoted as more secure and predictable, but in practice, it made complex applications harder to build.

Hoskinson tried to dismiss the concerns as misunderstandings, yet the reality was that a long-promised feature arrived with friction that immediately discouraged developers.

Subsequent upgrades were introduced to close the gap. The Vasil hard fork, aimed at scaling and improving Plutus, was planned for June 2022 but slipped to late September. Each delay added to the impression that Cardano could not deliver at the pace of the broader industry.

While competitors were attracting projects across decentralized finance, NFTs, and tokenization, Cardano was still working to stabilize the basics of its smart contract environment.

Adoption numbers show the effect. As of Sep. 10, Cardano’s total value locked in DeFi stood near $390 million. Solana held about $12.5 billion. Ethereum remained far ahead at $93 billion.

The gap is not only about size but also about lost momentum. When liquidity and developers move elsewhere, the network effect builds against the slower chain.

Ethereum processed about 1.4 million smart contract executions per day in mid-2025. Cardano processed around 52,000. Developer activity reflected the same divide, with Ethereum supporting about 3,200 active monthly developers compared with Cardano’s 720.

The contrast with Solana makes the divergence sharper. Cardano entered the first quarter of 2025 with weaker fundamentals, averaging about 71.5k daily transactions, a 28% drop from the previous quarter.

Solana, in the same period, processed millions of daily transactions supported by a large wallet base. Average fees were about $0.00025, and throughput ranged between 40,000 and 65,000 transactions per second, with more efficiency promised through the Firedancer client.

A pattern becomes clear when all the data is combined. Cardano often arrives late, delivers less than expected, and then tries to present the outcome as part of a longer journey.

Governance or gatekeeping?

Cardano’s governance was designed as a three-part system. Input Output took responsibility for protocol development, the Cardano Foundation handled ecosystem promotion and standardization, and Emurgo focused on commercial applications.

The layered setup created complexity from the start and led to perceptions of centralization, rather than the decentralization Hoskinson often highlights as Cardano’s defining principle. The history of the project shows why.

In 2018, Hoskinson and Emurgo chief executive Ken Kodama publicly called for the resignation of the Cardano Foundation’s chairman. They accused the Foundation of weak community engagement and poor transparency.

That early clash set the tone for recurring disputes over how the project is governed. In early 2025, the Cardano Foundation, acting within Intersect’s governance framework, proposed a 30% reduction in the ecosystem’s draft budget. 

The largest cut was directed at Input Output, whose allocation was set to fall by about 44%, from roughly 69.8 million ADA to 38.8 million ADA. 

Hoskinson objected, warning that such reductions risked slowing core technical development. The dispute revived questions about how much independence these entities truly held and whether governance choices were aligned with Cardano’s long-term technical needs.

Meanwhile, in 2025, Cardano also introduced a structured annual budgeting process managed through elected delegates and Intersect committees. 

For the first time, the community approved allocations via on-chain voting, covering both ecosystem funding and protocol governance. These governance steps were designed to improve accountability and transparency, but participation has remained limited. 

As of May 2025, around 11.7 billion ADA have been delegated to governance representatives. Yet more than 6.2 billion ADA of that sits with the “Abstain” delegate and another 173 million ADA with “No Confidence.” 

This means 68% of participants have opted out of active representation, leaving only about 48% of total voting power aligned with representatives able to cast votes.

The total ADA in circulation is 35.3 billion, but only about 33% has been delegated at all. Of that, just 14% of circulating ADA coins are actively delegated to autonomous representatives. A substantial share of potential voting influence, therefore, remains unused.

Since large portions of ADA on centralized exchanges are likely undelegated, these numbers reflect a relatively low level of engagement in governance. 

Headline totals obscure how much of the system is effectively neutralized, leaving real decision-making power concentrated in a smaller portion of the network than the surface figures suggest.

Meanwhile, Cardano also became embroiled in a high-profile dispute over unclaimed ADA vouchers.

Allegations surfaced in May 2025 claiming that Hoskinson and IOG had manipulated the blockchain during the 2021 Allegra hard fork to seize about $600 million in ADA.

Hoskinson denied the accusations, and an independent 128-page audit carried out by law firm McDermott, Will & Schulte, together with accounting firm BDO, later cleared him of wrongdoing.

The report, released on Sep. 3, confirmed that nearly all vouchers issued through Cardano’s pre-launch sales were successfully redeemed and that unclaimed ADA had been properly moved into reserves.

Even so, the lack of clarity damaged confidence as investors questioned the project’s governance and transparency.

That backdrop makes Hoskinson’s criticism of Ethereum more pointed and more paradoxical. He has often described Ethereum as a dictatorship around Vitalik Buterin.

Ethereum’s governance is based on open proposals and informal consensus through processes such as Ethereum Improvement Proposals. Decisions evolve from broad community debate rather than from a central authority.

Cardano’s model, in contrast, continues to revolve around three main entities that hold considerable influence despite the introduction of on-chain mechanisms.

Cardano drifts as its founder chases side quests

Hoskinson has promoted the Hoskinson Health and Wellness Clinic as a $200 million investment in Gillette, Wyoming. Local reporting in 2022, however, estimated the combined renovation and land development costs at closer to $18 million.

Promises of artificial intelligence integration and cryptocurrency payment systems remain future projections rather than active features. His claims that patients who cannot pay are not charged come without transparent data on how many individuals have actually received such care.

There are no publicly available metrics on patient outcomes, service volume, or adoption of the blockchain features he now associates with the clinic’s mission.

At the same time Hoskinson remains invested in one of the more unusual ventures connected to the crypto world, the de-extinction movement.

He is a backer of Colossal Biosciences, a company that has raised more than $200 million with promises to bring back woolly mammoths, dodos, and Tasmanian tigers. The investor list includes names as varied as Paris Hilton.

Conservationists and geneticists argue that such projects resemble spectacle more than science and that the money could be better directed toward protecting endangered species that still exist.

Even insiders at Colossal have criticized the company’s narrative and said they faced smear campaigns when they questioned the approach.

The effect of these side ventures is puzzling. While Cardano continues to struggle with low decentralized finance traction, limited developer momentum, and a lackluster record of adoption, its founder is speaking more about curing healthcare or reviving long extinct animals than about strengthening Cardano’s ecosystem.

The contrast between rhetoric and delivery grows sharper with each new announcement. The question is whether these ventures represent bold experimentation or distractions that take attention away from building a blockchain able to compete with its peers.



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September 11, 2025 0 comments
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Cameron and Tyler Winklevoss at the White House on July 18, 2025. (Jesse Hamilton/CoinDesk)
Crypto Trends

USDT Issuer Tether Holds Talks to Invest in Gold Mining: FT

by admin September 5, 2025



Tether, the issuer of world’s largest stablecoin, USDT, has eyed investing in gold mining, the Financial Times reported on Friday.

The firm has held discussions with mining groups about putting money into the gold supply chain, including refining, trading and royalties, according to the report, which cited people familiar with the talks.

Tether CEO Paolo Ardoino referred to the precious metal as “bitcoin in nature,” in a speech at the Bitcoin 2025 conference in May.

One commodity industry executive referred to Tether as the “weirdest company I have ever dealt with,” according to the report.

Tether already holds $8.7 billion in gold bars in a Zurich vault, according to its financial statements, and in June this year paid $89.2 million for a minority stake in Elemental Altus (ELE), a publicly traded precious-metals investment company.

The company also offers Tether Gold (XAUT), a stablecoin in which each token is equivalent to the value of one troy ounce of physical gold.

Gold rose to an all-time high of over $3,550 per ounce this week, having nearly doubled in price in the last two years. Given its reputation as a haven amid geopolitical tensions, gold remains a natural investment of interest for crypto-native investors, many of whom buy bitcoin and other digital assets for similar reasons.

Tether did not immediately respond to CoinDesk’s request for comment.



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September 5, 2025 0 comments
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Take-Two was reportedly in talks to fund and publish Perfect Dark reboot
Esports

Take-Two was reportedly in talks to fund and publish Perfect Dark reboot

by admin September 3, 2025


Take-Two Interactive was reportedly in talks to fund and publish The Initiative’s Perfect Dark reboot following the closure of the developer in July.

That’s according to Bloomberg, with sources telling the publication that the deal ultimately fell through resulting in layoffs at the game’s co-developer Crystal Dynamics last week.

Sources claimed that leadership from The Initiative and Crystal Dynamics spent two months in negotiations with “multiple parties” to find a new funding partner, resulting in a potential deal between Take-Two and Crystal Dynamic’s parent company Embracer.

However, the firms involved were “unable to come to terms over long-term ownership of the Perfect Dark franchise.”

Bloomberg reached out to representatives for Embracer, Xbox, and Take-Two, all of which declined to comment.

The Perfect Dark reboot was announced at The Game Awards in 2020, and was the first project of The Initiative – a first-party Xbox studio founded in 2018.

In 2023, it was reported that Perfect Dark was still in pre-production three years after its announcement.

The developer initially worked with support studio Certain Affinity to co-develop the game, with Crystal Dynamics taking over as a co-dev in 2021.

Crystal Dynamics was acquired by the Embracer Group, alongside Eidos Montreal and Square Enix Montreal, for $300 million.



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September 3, 2025 0 comments
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Report: Take-Two Interactive Was In Talks To Save Xbox's Canceled Perfect Dark Reboot
Game Updates

Report: Take-Two Interactive Was In Talks To Save Xbox’s Canceled Perfect Dark Reboot

by admin September 2, 2025


Take-Two Interactive Software, the publisher behind Ken Levine’s next game Judas, Rockstar’s Grand Theft Auto series, and the upcoming Borderlands 4, was in talks to save the recently canceled Perfect Dark reboot, according to a new report from Bloomberg. While Crystal Dynamics owner Embracer Group was close to striking this deal with Take-Two, negotiations ultimately failed, leading to last week’s layoffs at Crystal Dynamics. 

Bloomberg writes that Embracer “had come close to striking a deal” with Take-Two to purchase the game from Xbox, which owned the rights, but that discussions collapsed “at least in part because the companies involved were unable to come to terms over long-term ownership of the Perfect Dark franchise,” according to its sources. 

 

Unfortunately, with layoffs at Crystal Dynamics and these negotiations ending, it seems the Perfect Dark reboot is officially dead. 

Xbox and The Initiative, a new studio formed specifically for this game, revealed this Perfect Dark reboot in 2020. We learned The Initiative was teaming up with Tomb Raider series developer Crystal Dynamics in 2021, and a long three years later, in 2024, we got our first look at Perfect Dark gameplay. 

That 2024 gameplay showing was the last we saw or heard about Perfect Dark before it was canceled in July. 

[Source: Bloomberg]



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September 2, 2025 0 comments
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Strategy's Saylor Talks About Future Amid Bitcoin Bloodbath
NFT Gaming

Strategy’s Saylor Talks About Future Amid Bitcoin Bloodbath

by admin August 29, 2025


Michael Saylor picked a rough day to talk about the future. While Bitcoin was experiencing a slump and tons of leveraged bets were being wiped out, the Strategy chairman dropped a post with a dystopian cityscape and the caption “The Future is Orange.”

This message of long-term conviction is happening in the middle of one of the messiest periods Bitcoin has had in weeks.

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Just in the last day, over $410 million in positions were liquidated across exchanges, and most of the damage was from longs. Around $350 million in bullish bets were erased as Bitcoin plunged to $109,000.

Even in the four-hour period leading up to the drop, around $200 million in longs were liquidated, showing how crowded the upside trade had become after the run toward $123,000 earlier this month.

Derivatives data shows the scale. Open interest fell to about $80 billion, but the long-to-short ratios on Binance and OKX remained high, showing many stayed long into the fall. Yet, open interest dropped more than 20%, suggesting contracts were closed instead of new positions. On paper, it looks like a market that went too far and then hit a wall.

Saylor not bothered

For Saylor, this does not matter as much as it does for short-term speculators. Strategy holds over 200,000 BTC, and his feed rarely changes tone no matter what the chart is doing.

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The post, which depicts a man walking alone through an orange haze toward a futuristic vehicle, reads as a statement of faith: volatility is temporary, conviction is permanent. Whether the market agrees is another question, as Bitcoin is just above $109,000 with liquidation risk still high.



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August 29, 2025 0 comments
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Kraken’s SEC talks put tokenized trading to the test of the U.S. securities law
NFT Gaming

Kraken’s SEC talks put tokenized trading to the test of the U.S. securities law

by admin August 26, 2025



Kraken outlined a blueprint for tokenized trading in rare talks with the SEC, testing whether U.S. securities law can adapt to blockchain markets.

Summary

  • Kraken met the SEC’s Crypto Task Force on Aug. 25, presenting a detailed agenda on tokenized trading design, regulatory treatment, and market benefits.
  • The agenda addressed system architecture, lifecycle of tokenized assets, compliance with securities law, and potential advantages like faster settlement, fractional ownership, and reduced costs.
  • The meeting followed key regulatory developments, including Kraken’s 2023 lawsuit dismissal and the SEC’s May 2025 custody guidance on tokenized securities.
  • Tokenization already represents $26 billion in assets, including $7 billion in U.S. Treasuries, as global jurisdictions advance clearer frameworks while the U.S. deliberates.

Kraken brings tokenized trading blueprint to the SEC

On Aug. 25, the SEC’s Crypto Task Force held a meeting with representatives from Payward, Inc., Kraken Securities, and lawyers from WilmerHale. The agenda submitted by Kraken focused on how a tokenized trading system could be built and regulated in the U.S.

The company outlined three main points for discussion. The first was the design of the system itself, including the core components of the architecture and the full lifecycle of certain transactions, from the issuance of a tokenized asset to its eventual settlement.

The second centered on the legal and regulatory framework. Kraken sought to examine how current federal securities laws would apply to such a system, and how the SEC might provide clarity that balances compliance with space for innovation.

The third point was the potential benefits. Kraken argued that tokenization is not just a technical shift but also a way to support capital formation and broaden access to financial markets.

A tokenized trading system is not the same as simply turning assets into tokens. Tokenization alone means creating a digital version of a share or bond that exists on a blockchain.

A trading system goes further. It encompasses the full structure that allows those tokens to be issued, exchanged, settled, and custodied in line with regulatory requirements.

Industry experts also took note of the meeting. Nate Geraci, president of ETF Store and a long-time analyst of digital markets, said that the meeting showed the SEC is now looking closely at the legal framework for tokenized trading systems in the U.S.

Kraken met w/ SEC Crypto Task force today to discuss tokenization of traditional assets…

Included the legal & regulatory framework for operating a tokenized trading system in the *US*.

It’s coming. pic.twitter.com/hAbJB7FRa8

— Nate Geraci (@NateGeraci) August 25, 2025

According to data from RWA.xyz, more than $26 billion worth of real-world assets are already represented on blockchains. Of that, over $7 billion comes from U.S. Treasury tokens.

Tokenised assets data | Source: rwa.xyz

This shows that tokenization has moved well beyond theory. The open question is how complete trading systems will be regulated in the U.S.

The SEC created the Crypto Task Force in January 2025 to address issues like these. Since then, it has been meeting with banks, asset managers, trading platforms, and crypto firms to test how digital assets fit within the existing rulebook.

Can 1930s securities law handle blockchain trading?

Kraken’s second agenda item with the SEC focused on how a tokenized trading system would fit within existing U.S. securities law.

The challenge is that many of the rules governing today’s markets were written for paper certificates and centralized clearinghouses, not for digital tokens recorded on a blockchain.

One area of discussion is likely to have been the Securities Exchange Act of 1934.

Any system that matches buyers and sellers of securities can fall under the definition of an exchange, meaning it must either register as a national exchange or operate as an Alternative Trading System under Regulation ATS.

That framework is already used by platforms that handle billions of dollars in securities each day, and it provides the most direct model for a blockchain-based system.

Custody is another critical question. Under Rule 15c3-3, broker-dealers face strict requirements for safeguarding customer securities.

In 2020, the SEC created a limited pathway for “special purpose broker-dealers” seeking to custody digital asset securities, but the guidance was narrow and temporary.

More recently, in May 2025, SEC staff issued clarifications on how control of tokenized assets can be established. This is essential because any trading system must demonstrate it can protect investor holdings while still operating on blockchain rails.

Transfer agents also remain part of the discussion. In traditional markets, they maintain the official record of security holders. On a blockchain, the ledger itself could perform that role, but U.S. law still requires a registered agent in many cases.

Regulators will need to decide whether smart contracts and distributed ledgers can substitute for the role that agents have historically played.

The meeting also took place against a backdrop of active enforcement. Kraken faced an SEC lawsuit in 2023 for operating as an unregistered exchange, broker, and clearing agency. 

That case was dismissed with prejudice in March 2025, closing the matter without penalties or admission of wrongdoing.. 

Bringing a formal agenda to the Task Force suggests the company is now seeking a compliant path forward rather than repeating past disputes.

Meanwhile, the World Federation of Exchanges warned in August 2025 that tokenized stock products offered by some platforms risk undermining market integrity if they fail to provide investor rights such as voting and disclosures.

Fractional access opens doors to new investors

The final part of Kraken’s agenda with the SEC focused on the benefits of building a tokenized trading system.

One clear benefit is speed. Traditional securities trades in the U.S. now settle on a T+1 basis since May 2024, down from T+2 previously, but delays still remain in the clearing process. 

The Depository Trust and Clearing Corporation reported that the shift to T+1 cut the NSCC Clearing Fund by about $3–3.7 billion, a reduction of roughly 23–29%, showing how faster settlement frees up capital across the system.

A blockchain-based system could shorten that cycle further, with settlement occurring within minutes instead of days. 

Another benefit is access. Fractionalization makes it possible to divide assets into smaller increments, which in principle allows a wider pool of investors to participate.

Efficiency is also part of the case. In today’s markets, trades often move through multiple intermediaries, including brokers, clearinghouses, and custodians. Each adds cost and time.

A tokenized system can streamline these steps by using a single distributed ledger to record and verify ownership.

Franklin Templeton’s blockchain-based money market fund provides a working example. It uses a public blockchain to maintain its shareholder register and has highlighted operational efficiencies compared with traditional record-keeping. 

Franklin Templeton operates a registered ’40-Act on-chain fund, while BlackRock’s BUIDL is a private tokenized liquidity fund for qualified investors, not a registered mutual fund.

Kraken also framed tokenization as a tool for capital formation. Lower costs and more open markets can attract new participants and make it easier for companies to raise funds. 

Tokenization could be one way to achieve that reduction, especially in places where traditional infrastructure is limited.

Uneven frameworks raise the risk of regulatory arbitrage

The August meeting between Kraken and the SEC’s Crypto Task Force was one moment in a broader conversation unfolding across global markets.

BlackRock and Franklin Templeton have already shown that registered funds can operate on-chain, while banks such as JPMorgan are testing tokenized deposits with institutional clients.

The U.S. now faces a choice. Other jurisdictions, including the European Union, Singapore, and Hong Kong, have begun writing rules for tokenized securities. In contrast, the U.S. has leaned on case-by-case enforcement and informal guidance.

Global exchanges are watching closely. The World Federation of Exchanges has urged regulators to ensure that tokenized products do not bypass traditional investor rights.

At the same time, platforms such as Robinhood have started offering tokenized stock trading in Europe, and Coinbase has signaled interest in similar products, raising the prospect of uneven rules across jurisdictions.

Without clearer U.S. guidance, the risk of regulatory arbitrage grows, as firms may shift activity abroad to markets that offer more certainty.

The discussion with Kraken was not just about one company’s product plan but reflected a wider question now confronting every major regulator.

The answer will determine how quickly tokenized trading systems move from meetings and memos to operating at scale.





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August 26, 2025 0 comments
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Cardano’s Token Finds Support as Charles Hoskinson Talks Markets, Network's Future
Crypto Trends

Cardano’s Token Finds Support as Charles Hoskinson Talks Markets, Network’s Future

by admin August 25, 2025



Cardano’s ADA token fell 3% over the past 24 hours, currently trading at $0.87 after a volatile session that saw the token swing over 10% in value overnight.

The price action followed a Friday night AMA (Ask Me Anything) with Cardano co-founder Charles Hoskinson, who expressed long-term optimism for Cardano’s prospects, pointing to the upcoming Midnight Network — an initiative aimed at improving data privacy on the blockchain—as a major unlock for activity.

He noted that incorporating bitcoin BTC$110,074.45 into the Cardano ecosystem could expand its use cases and investor appeal.

Hoskinson also discussed the market’s macro events and catalysts during his AMA. He said he expects two potential catalysts to shape crypto markets in the coming months: a likely interest rate cut by the Federal Reserve in September and the possible passage of the Digital Asset Market Clarity Act (CLARITY).

ADA’s price action

Overnight from Sunday to Monday, ADA began trading near $0.901 before surging to an intraday high of $0.963 on a spike in volume, with 333.34 million tokens exchanged during the rally, according to CoinDesk Research’s data. But that momentum reversed.

ADA dropped nearly 10% to a session low of $0.862 before stabilizing around current levels. Support emerged around $0.856, a level where buyers stepped in at above-average volumes, the data showed.

ADA’s Volatility spiked to 10.48% over the session, reflecting shifting market sentiment and heightened sensitivity to macroeconomic cues. The move coincided with the broader market as bitcoin price fell sharply on Sunday after a large whale dumped the digital assets. The broader market gauge, CoinDesk 20 Index, also fell more than 3%.

While ADA is still up 125% from a year ago, the token is down more than 70% from its all-time high of $2.90, reached in August 2021.

For now, though, ADA and the broader crypto market may remain range-bound as institutional investors and retail traders alike watch how regulators and central banks shape the next phase of the crypto cycle.

Read more: Here Is Why Bitcoin’s Flash Crash May Signal Altcoin Season



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August 25, 2025 0 comments
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Katee Sackhoff Talks 'The Mandalorian' and Acting Struggles
Gaming Gear

Katee Sackhoff Talks ‘The Mandalorian’ and Acting Struggles

by admin August 25, 2025


Battlestar Galacta alum Katee Sackhoff has been in genre TV for years. After voicing cultist turned mercenary/freedom fighter Bo-Katan Kryze for Star Wars: The Clone Wars and Rebels, she reprised the role in the live-action series The Mandalorian. She’s gotten to play Bo several times since then, but as the actor herself tells it, coming back to that role hasn’t been without its challenges.

In the latest episode of her podcast, Sackhoff told her Battlestar co-worker Tahmoh Penikett how she lost “all of my confidence” after filming The Mandalorian. “I’ve always played two steps removed from myself, [and] it always felt grounded in some part of my belly, of who I was,” she explained. Her usual acting method has been to go with her “first instinct, play the reality of the situation,” but that wasn’t the case with Bo-Katan. Playing the character in live-action made her realize how much Bo is “nowhere near who I am as a human being. As much as I stood her, I never identified with her, and I didn’t know how to find her.”

Sackhoff went on to say Bo-Katan “broke” her, enough to keep her from further acting in the past three years. She credits an acting coach and a new manager with helping her turn things around; the former reaffirmed her talent and said she just “need to get you back in your belly. You just need to find your confidence again.” As of this year, Sackhoff’s done voice work for Warner Bros.’ animated Watchmen duology and showed up in this year’s Fight or Flight, and she’s also in Prime Video’s upcoming Carrie series.

Star Wars-wise, it’s unclear whether she’ll appear in The Mandalorian & Grogu or the second season of Ahsoka, both of which Bo-Katan is some connections to. The show is currently in production, while the film is due May 22, 2026.

[via Variety]

Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who.



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