Bernstein cites $4T tokenized credit opportunity for Figure Technology stock
Bernstein projects a $4 trillion addressable market for tokenized credit, positioning Figure Technology as a major beneficiary. The blockchain lender's loan volumes surged 108% year-over-year to $1.34 billion in April. Analyst rating targets 67% upside, betting Figure's expansion beyond home equity lending into mortgages, auto loans, and small-business credit represents significant growth potential as tokenization scales.
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Drift outlines a recovery plan for users after $295 million DPRK-linked exploit
Drift Protocol outlined a recovery plan following a $295 million exploit attributed to North Korean hackers. The framework includes recovery tokens pegged to verified losses and a growing compensation pool funded by protocol revenue, Tether support, and partners. Drift plans a security-focused relaunch in Q2 with enhanced controls, mirroring industry-wide recovery efforts after major DPRK-linked DeFi hacks.
Tokenization won't disrupt banking rails but improve them, Wall Street executives say
Wall Street executives from Citigroup, JPMorgan, and DTCC say blockchain tokenization is moving from pilots into production, handling real volumes for actual clients. Banks are integrating tokenization into existing infrastructure to enable 24/7 fund movement and faster settlement. Executives stress evolution over disruption—traditional finance and decentralized systems are converging while core intermediaries remain essential for compliance and risk management.
Rep. Steven Horsford pitches PARITY Act as 'durable floor' for crypto tax at Consensus Miami
Rep. Steven Horsford pitched the bipartisan PARITY Act as an incremental approach to crypto taxation at Consensus Miami, framing it as a "durable floor" rather than comprehensive reform. The act includes stablecoin cost-basis tests, five-year tax deferral on staking rewards, and wash-sale extensions. Senate negotiations on the broader CLARITY Act have stalled, with Horsford emphasizing getting policy right over rushing timelines before elections.