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The exchange is seeking to take its on-chain equity push into the one market its current products can't touch OKX has filed with the US Securities and Exchange Commission to launch a tokenized-stock trading …

The exchange is seeking to take its on-chain equity push into the one market its current products can't touch OKX has filed with the US Securities and Exchange Commission to launch a tokenized-stock trading platform in the United States, Bloomberg reported. The filing itself had not surfaced in public SEC records as of early October. The timing still makes sense. Washington has only just carved out a formal lane for this kind of trading. What OKX already sells, and to whom OKX is not new to tokenized equities. On July 15–16, 2026, it rolled out a product line called Unified Tokenized Stocks, also described as xStocks-powered products. The initial lineup covered more than 40 US stocks and ETFs. By September 2026, that menu had grown to more than 70, offered through a dedicated Money app. Users can trade these tokens around the clock, 24/7, priced against the USDT stablecoin. Settlement happens on Solana and on X Layer, OKX’s own network. The tokens are backed 1:1 by underlying shares held by third-party issuers. OKX acts as the distributor rather than the issuer. Advertisement These products are restricted under Regulation S, the SEC rule that governs securities offered outside the US. They are unavailable to US persons, and they are also off-limits to users in the EU. Despite the share backing, the current products are classified as synthetic. Token holders get price exposure, but they do not receive shareholder rights like dividends and voting. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. The SEC opened a door in September The regulatory backdrop shifted on September 17, 2026. That day, the SEC introduced a five-year Innovation Exemption. The exemption lets qualified Tokenized Securities Venues, or TSVs, trade tokenized National Market System stocks on-chain. NMS stocks are, broadly, the shares listed on major US exchanges. Trading can run through approved automated market makers and liquidity pools. The exemption runs until September 17, 2031. It comes with a firm condition: tokens must preserve actual shareholder rights, including dividends and voting. That condition matters a lot for OKX. Its Unified Tokenized Stocks, as currently structured, are synthetic and do not fit the new framework. Simply flipping on access for US users would not qualify those products under the exemption. The ICE connection OKX also has another route into the US market already in motion. In June 2026, it announced a joint venture with Intercontinental Exchange, the parent company of the NYSE. The venture is branded OKXICE. It aims to offer tokenized NYSE equities once it secures US broker-dealer and futures commission merchant status. Those approvals are still pending with the SEC and the Commodity Futures Trading Commission. A broker-dealer license lets a firm handle securities trades for customers. FCM status covers futures and derivatives business under the CFTC. What this means For OKX, a US tokenized-stock platform would open up the largest equity market in the world, the one market its flagship product currently ignores. The Regulation S wall has capped the reach of its offering, no matter how many tickers it adds. The Innovation Exemption rewards tokens that carry full shareholder rights. Any US platform from OKX would likely need to look different from the synthetic tokens it sells offshore, requiring real dividends flowing to token holders and real votes attached to each unit. What to watch next: whether the filing becomes public and what structure it describes, whether OKX’s US product is designed to qualify as a TSV under the Innovation Exemption, and how the SEC and CFTC rule on OKXICE’s broker-dealer and FCM applications.

A CoinGecko analysis of eight major exchanges shows Ethereum's market depth has fallen to 35–45% of Bitcoin's, down from over 60% a year ago. Ethereum’s standing in the liquidity rankings has taken a meaningful …

A CoinGecko analysis of eight major exchanges shows Ethereum's market depth has fallen to 35–45% of Bitcoin's, down from over 60% a year ago. Ethereum’s standing in the liquidity rankings has taken a meaningful hit. A CoinGecko analysis of order-book depth across eight major centralized exchanges shows Ethereum’s median market depth sitting at $13 to $14 million, which puts it at just 35 to 45% of Bitcoin’s liquidity. A year ago, Ethereum was holding above 60% of Bitcoin’s level. Bitcoin’s order book is doing a lot of heavy lifting Bitcoin’s median aggregate depth has reached $29 million on the bid side and $37 million on the ask side, roughly 50% higher than the figures recorded in 2025. Order-book depth in this analysis is measured at approximately 0.15% from the mid-price, translating to about $100 on either side for Bitcoin and $3 for Ethereum. Advertisement Binance leads liquidity for both assets across the exchanges studied. At the other end of the spectrum, MEXC’s liquidity sits at approximately $450,000, making it a clear outlier in the dataset. Why the gap widened The contrast isn’t just that Ethereum got worse. It’s that Bitcoin got substantially better while Ethereum’s liquidity remained roughly flat in absolute terms. That combination mechanically pushes the ratio down. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. Increased institutional interest in Bitcoin, partly channeled through spot exchange-traded products, is one plausible driver of the deeper order books on the Bitcoin side. Ethereum, despite its own spot ETF approvals, has not attracted the same scale of order-book commitment. What traders and investors should watch The gap between Ethereum’s liquidity and Bitcoin’s is now wide enough to influence how large trades get structured. Algorithmic traders and institutions that slice orders across venues will need to account for Ethereum’s shallower book, particularly during periods of elevated volatility when spreads tend to widen further. For context, the Traders Union report covering this data was published on September 30, 2026. The dynamics it captures reflect a market structure that has been shifting steadily rather than breaking in a single moment.

Leaked financial figures for Anthropic, an AI lab, indicate significant risk in its upcoming IPO, as reported on social media by @laurashin. The confidential IPO filing suggests a valuation of $2 trillion, but with …

Leaked financial figures for Anthropic, an AI lab, indicate significant risk in its upcoming IPO, as reported on social media by @laurashin. The confidential IPO filing suggests a valuation of $2 trillion, but with substantial losses reported, including $8 billion in operating losses and a $42 billion net loss in 2025. These figures have raised concerns about the company’s financial health as it prepares to join the public market. Anthropic has been a prominent player in the AI sector, competing closely with OpenAI, and its last private valuation in May 2026 reached $965 billion. Key Takeaways Market pricing suggests skepticism about Anthropic achieving a market cap exceeding $1.25 trillion at IPO close. Leaked financial data indicating large losses appears consistent with concerns about Anthropic’s valuation. Current pricing reflects a cautious stance, with significant hurdles anticipated for Anthropic’s public debut. What to Watch The trajectory of Anthropic’s IPO will be closely watched, with potential adjustments in pricing and valuation disclosure likely to influence market sentiment. Any announcements from the SEC or changes in underwriter guidance could indicate shifts in the IPO timeline or valuation expectations. Market participants will be monitoring developments closely, as these could alter perceptions of Anthropic’s financial viability and its standing in the competitive AI sector.

Bloomberg and Moody's flag Southeast Asia, China, Japan and South Korea as highly vulnerable if AI investment cracks Asia built much of the hardware behind the artificial intelligence boom. Now it may have to …

Bloomberg and Moody's flag Southeast Asia, China, Japan and South Korea as highly vulnerable if AI investment cracks Asia built much of the hardware behind the artificial intelligence boom. Now it may have to absorb the shock if that boom goes sideways. Southeast Asia, China, Japan and South Korea face high risk from a potential collapse in the AI market, according to Bloomberg. That puts some of the world’s largest economies in an awkward position: deeply invested in a trend that a growing number of voices describe as a bubble. A boom with a narrow base Bloomberg’s reporting in July 2026 described Northeast and Southeast Asian economies as tightly bound to the global AI supply chain. That link leaves the region unusually sensitive to swings in AI spending and to any broader market correction. The winners are easy to spot. South Korean chipmakers SK Hynix and Samsung have been booking substantial profits as AI-driven demand for their products climbs. Their specialty matters here. High-bandwidth memory is a type of chip built to move huge volumes of data quickly, which is exactly what AI systems need to function. Bloomberg’s reporting points to a K-shaped pattern, where one group surges upward while another stalls or slides. Semiconductor and memory producers sit on the rising arm of the K. Sectors outside tech are stagnating. Advertisement Moody’s and the hedge funds sound the alarm In September 2026, Moody’s cautioned that the risks tied to over-investment in AI infrastructure, along with concentration risk, are substantial. The ratings agency singled out South Korea, Japan, China and ASEAN nations, all of which are pouring money into AI-related technology. Moody’s identified a bursting AI bubble as a serious downside risk for Asia-Pacific economies, one that could carry severe consequences for the region. AI, tech, and the markets they move—in one daily briefing. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. Southeast Asia shows how much money is already on the table. Malaysia alone has more than $6 billion in data center projects underway as of September 2026, a level of commitment that raises notable risks if demand cools. In June 2026, Chinese hedge funds flagged what they called an “AI super bubble,” warning of the risk of an imminent collapse. The market has already flinched In September 2026, stocks sold off sharply after leaders in the AI industry raised safety concerns and urged a slower pace of development. Major chip stocks plunged amid fears that AI progress could slow. The MSCI Asia index posted strong performance in 2025, but it ran into headwinds in early 2026 as fears of an AI bubble spread. What this means for Asia’s economies and investors Asia’s AI exposure is not spread evenly across its economies. It is clustered in a small group of booming tech sectors and a short list of companies. For investors, the findings from Bloomberg and Moody’s point toward caution on tech stocks with heavy AI dependence. Semiconductor companies would likely be first in line to feel a correction, given how directly their order books track AI spending. For policymakers, the K-shaped pattern presents its own challenge. Headline growth figures can look healthy while large parts of the economy tread water. The physical buildout adds a longer-term layer of risk. Projects like Malaysia’s data center pipeline represent multi-year commitments that cannot be easily unwound if sentiment turns. Moody’s framed a burst bubble as a downside risk, not a forecast, and the profits flowing to firms like SK Hynix and Samsung are real today.

Official Python client for the CandleFeed crypto market-data API — OHLCV, funding, open interest, liquidations, basis, Deribit options across Binance, Bybit, OKX, dYdX, Hyperliquid and Huobi. Returns pandas DataFrames. A required part of this …

Official Python client for the CandleFeed crypto market-data API — OHLCV, funding, open interest, liquidations, basis, Deribit options across Binance, Bybit, OKX, dYdX, Hyperliquid and Huobi. Returns pandas DataFrames. A required part of this site couldnt load. This may be due to a browser extension, network issues, or browser settings. Please check your connection, disable any ad blockers, or try using a diffe…

Kraken's parent company is plugging into SGB Net to give institutional clients in Asia and the Gulf round-the-clock USD settlement Crypto markets never close. Banks, famously, still do. Payward, the parent company of Kraken, …

Kraken's parent company is plugging into SGB Net to give institutional clients in Asia and the Gulf round-the-clock USD settlement Crypto markets never close. Banks, famously, still do. Payward, the parent company of Kraken, wants to shrink that gap. On October 4, 2026, it announced a partnership with Singapore Gulf Bank (SGB) to offer 24/7 instant settlement for digital assets to institutional clients in Asia and the Gulf region. The deal integrates SGB Net, the bank’s real-time multi-currency clearing network, into Payward’s infrastructure. For institutions, that could mean money moves when the market moves, not when a back office opens on Monday morning. How the Payward and SGB deal works SGB Net is a clearing network that settles fiat transactions in real time across multiple currencies. Payward is connecting to that network. The service will start with USD transactions and a select group of clients rather than opening to everyone at once. The companies plan to bring on more clients and more currencies over time. Liquidity for the setup will run through Kraken Prime, Payward’s institutional prime brokerage arm. Advertisement SGB itself is a fully licensed digital bank regulated by the Central Bank of Bahrain. It launched its corporate banking services in late 2024. SGB Net went live in May 2025. The network has reportedly handled over $2 billion in fiat transaction volume each month. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. The problem with banker’s hours Digital assets trade around the clock, every day of the year. Traditional banking rails, by contrast, still largely keep business hours. For an institution, that mismatch creates friction: if a bank wire won’t clear until the next business day, a trading opportunity may be gone by the time the money lands. The Payward and SGB partnership targets exactly that problem. The stated goal is to reduce operational friction and speed up how quickly institutional clients can deploy funds. Part of a broader Payward playbook In September 2026, Payward teamed up with SoFi for real-time USD settlement using the SoFi Exchange Network. The SGB deal follows the same template, pointed at a different part of the map. SGB Net already has 24/7 partnerships with Cactus Custody and Fireblocks, both of which serve institutional players in the digital asset space. What this means for institutions and the market The most direct beneficiaries are institutional clients in Asia and the Gulf. If the service delivers as described, these clients could gain the ability to fund positions or pull capital out at any hour, without waiting on legacy banking windows. The choice to launch with USD is worth noting. The dollar sits at the center of global finance and crypto trading alike, so starting there addresses the largest pool of demand first. If USD settlement runs smoothly, extending the model to other currencies becomes an easier sell to both clients and regulators. The rollout starts with a select group of clients. Watch for three things: announcements of new clients joining the service, the addition of currencies beyond USD, and whether Kraken Prime’s liquidity offering expands alongside the settlement rails.

Ether had $13 million to $14 million in depth within 0.15% of its market price. In simple terms, that's roughly how much money was sitting in orders close enough to the price that clearing …

Ether had $13 million to $14 million in depth within 0.15% of its market price. In simple terms, that's roughly how much money was sitting in orders close enough to the price that clearing it would move ether by just 0.15%. Depth this close to the price matters most for everyday trades, and for large orders that traders want filled without moving the market. The data undercuts a popular idea in markets that rising prices pull in more traders, and more traders mean deeper order books. That didn't happen with ether. That said, ether is still fairly easy to trade. "ETH remains fairly liquid at this range [within 0.15% of the market price], with most exchanges maintaining over $1 million in depth on each side," CoinGecko said. And ether isn't the only major token with thinner markets. Liquidity in solana's SOL, ether's main rival, has also shrunk, though CoinGecko measured it over a wider range. "The overall liquidity for SOL has shrunk considerably since 2025," the firm said. SOL's depth within 2% of the market price fell from about $28 million on each side of the order book last year to around $20 million this year. Depth at 2% shows how much money sits in orders further from the current price. It's a gauge of how much selling or buying pressure the market can absorb before the price makes a bigger move, the kind seen during a sharp rally or sell-off. So while ether's thinning shows up right next to the price, SOL's shows up in its ability to handle larger swings.

Bitcoin and Ethereum shorts took the biggest hits as forced closures swept 42,225 traders across derivatives venues Betting against crypto turned expensive this weekend. Traders saw $113 million in short positions forcibly closed over …

Bitcoin and Ethereum shorts took the biggest hits as forced closures swept 42,225 traders across derivatives venues Betting against crypto turned expensive this weekend. Traders saw $113 million in short positions forcibly closed over a 24-hour window ending October 5, 2026, according to data compiled by Coinglass. That figure made up the lion’s share of approximately $138 million in total liquidations. Long positions, the bets on rising prices, accounted for only $25.16 million of the wipeouts. Shorts were liquidated at more than four times the rate of longs. The damage report A liquidation happens when a leveraged trader’s collateral can no longer cover their losses. The exchange then closes the position automatically. Bitcoin led the carnage. Short positions on the largest crypto asset accounted for $57.07 million of the liquidations, roughly half of all shorts closed during the period. Ethereum came in second, with $24.04 million in short positions erased. Advertisement The single largest casualty was a $5.63 million ETHUSDT short on Binance. In total, 42,225 traders were liquidated across the venues Coinglass tracks. The news moving money, markets, and the world—before your day starts. Daily. Free. Join 34,000+ readers across crypto, finance, and policy. Email address Subscribe free We respect your privacy. Unsubscribe anytime. Binance frequently leads in liquidation volumes, according to the Coinglass data, and the largest single wipeout landing there fits that pattern. A familiar pattern If $113 million in short liquidations sounds familiar, that is because it has happened before. In July 2026, a similar wave also produced $113 million in short liquidations. That earlier episode was tied to a 4.5% rise in Ethereum toward $1,980, a move that came amid inflows into Ethereum ETFs. When shorts get liquidated, the exchange has to buy back the asset to close their positions. That buying can push prices higher, which triggers more liquidations, which creates more buying. What it means for traders The lopsided split between shorts and longs tells a story about positioning. A meaningful number of traders expected prices to fall, and the market moved against them quickly enough to force them out. The July episode and this one produced the same $113 million figure in short liquidations, both tied to upward price moves catching bears off guard. When liquidations cluster on a few large venues like Binance, those platforms’ risk engines and liquidation mechanics become critical to how violently a move plays out. Heavy short liquidations suggest bearish positioning got stretched. Heavy long liquidations would suggest the opposite. What to watch from here is whether funding rates and open interest rebuild on the short side, setting up the conditions for another squeeze, or whether this weekend’s flush resets positioning toward something more balanced.

OKX filed with the Securities and Exchange Commission on Sunday to launch a tokenized-stock trading platform, making it one of the first major crypto exchanges to take advantage of new US rules allowing digital …

OKX filed with the Securities and Exchange Commission on Sunday to launch a tokenized-stock trading platform, making it one of the first major crypto exchanges to take advantage of new US rules allowing digital versions of public-company shares to trade on cr… OKX filed with the Securities and Exchange Commission on Sunday to launch a tokenized-stock trading platform, making it one of the first major crypto exchanges to take advantage of new US rules allow…

Bitcoin zooms toward $87,000, nearly setting an eight-month high, then reverses Bitcoin came within about $500 of its late-September peak before sellers pushed it back under $86,000. It's the second rally in a week …

Bitcoin zooms toward $87,000, nearly setting an eight-month high, then reverses Bitcoin came within about $500 of its late-September peak before sellers pushed it back under $86,000. It's the second rally in a week to stall. What To Know - Bitcoin rose 1.5% t… Bitcoin zooms toward $87,000, nearly setting an eight-month high, then reversesBitcoin came within about $500 of its late-September peak before sellers pushed it back under $86,000. It's the second r…