Tokenization in TradFi: DTCC ran a four-hour live pilot for blockchain-based tokenized securities with 40+ institutions (JPMorgan, Goldman, Invesco, Citadel), aiming for a full-service launch in October—while the IMF warns tokenization could amplify liquidity shocks if guardrails lag. Stablecoins for everyday payments: BC Card completed a PoC letting tourists pay with USDC stablecoins at Korea QR merchants, and Miden is set to launch privacy-first USDCx alongside its mainnet. Regulation & market structure: The U.S.-UK transatlantic taskforce issued non-binding recommendations for stablecoins and tokenized securities, and the SEC staff cleared Franklin Templeton’s blockchain fund custody setup. Security shocks: Harmony confirmed an exploit that minted ~4B ONE tokens, sending ONE down ~40% and reigniting rollback vs immutability debate; an XRP bridge reserve was drained via fake deposits (~$200K). Institutional crypto expansion: Goldman agreed to buy Neos for up to $2.25B to add Bitcoin/Ethereum income ETFs, while Goldman/Neos and Goldman’s ETF push signals continued TradFi demand. Crypto consumer protection: Arizona’s crypto ATM law has refunded $171K to 35 scam victims. Asia-Pacific governance: Project Pigeon launched an APAC working group to advance governance standards for permissionless blockchains. Market moves: GSR boosted Solana to 43.6% in its Core3 model; Uniswap redirected creator fees from test tokens into UNI buyback-and-burn. Corporate/tech ecosystem: Bullish executed tokenized-share trades on a GFSC-regulated exchange using stablecoin settlement, and Kraken added 24/7 S&P 500 perpetuals to its Prop program.