Product

A $219 billion manager is building for after-tax returns, and the structure has implications well beyond traditional fund management.

Figure Markets has built a regulated, yield-bearing stablecoin that institutional treasury officers can actually use, and the $540 million in supply suggests some of them already are.

Offshore perpetual futures on private companies are creating an unregulated reference price layer that will quietly reshape how fund managers mark and hedge private equity.

Strong early demand for THYP and TXXH signals that institutional allocators are ready to buy DeFi infrastructure, not just crypto tokens, and that changes the pressure on traditional market structure.

When Japan's two largest retail brokerages package Bitcoin inside a regulated trust, they hand the rest of Asia a working blueprint for institutional crypto distribution.

When a major bank buys equity in an exchange operator, it is acquiring distribution infrastructure for the tokenized asset era, not speculating on crypto prices.