Morning Minute: BlackRock pushing the tokenization strategy even deeper together with ONDO .

What happened at the market this morning?

The crypto market moved on its own in a single day. On the positive side, major coins rebounded 2-6% byBTC remaining at $84,500 (+1%) ETH at $2,720 (+3%) and SOL surging to +7% striking.$121 On the negative side was the serious hack of Bitget , one of the Asian region's major trading platforms

Bitget claimed that roughly $351.6 million (approximately 11,400 million baht) was lost from hot wallet and warm wallet on Thursday, with blockchain hackers catching it for the first time at a level of around $183 million. The platform immediately blocked the withdrawal and CEO Gracy Chen stated that user funds $464 million could cover the damage.

For Thais who use overseas platforms, this news is a real case of why the SEC (Thailand) Thailand focuses on asset management and reserve funds for registered platforms.

What does BlackRock and ONDO do differently?

Most of the tokenization that has gone through is a single asset package such as bonds, money market funds or stocks but on Wednesday BlackRock went even further by developing three investment portfolios strategies for ONDO , each of which comes out to be one token that integrates an entire portfolio's assets ratio, automatically balances and transfers the peer-to-peer model between wallets.

The three tokens, BLKHIon (high income), BLKDIGon (diversified growth) and BLKGRWon ( high growth) are open to qualified investors outside the US only ONDO times 30% from this news.

Notable is the deal structure: BlackRock gives strategies and names attached to tokens, but a disclosure document of ONDO states that BlackRock , not an advisor, manager, sponsor or supplier, has no oversight authority and there are potential conflicts of interest; i.e., the world's largest fund manager leases intellectual property without assuming any operational or regulatory responsibilities.

This is not the first time that BlackRock and ONDO : March 2024 BUIDL brought market capitalization money up to blockchain, and last July ONDO , made tokenization iShares Core S.&P 500ETF of BlackRock shares with Micron

This is the kind of news that Thai people should watch out for.

SEC Commissioner Hester Peirce has called for zero-knowledge proofs to replace the original systemKYC she calls "panopticon" so that users can prove their identity without handing over personal information.SEC Meanwhile, the CFTC is giving a green light on more extensive tokenization.

The other two are: New York State suing Polymarket on charges of illegal gambling and open trading to minors, asking for a ban from operating in the state; and the Fed proposing two stablecoin rules that mandate full collateral with short-term bonds, with an operational risk charge dismissed 2% for the first million dollars$20,000 remaining,1% upon exceeding [223 million.

Other key figures today

• Bitcoin ETF had net cash flow of $191 million as of Thursday,ETHETF to $66 million
• altcoin Heaters: QNT +25%, ONDO +21%, FET +20%, and ENA +16% are also included.
• Gold +1% at $4,345, oil -1% at $92, futures are positive (DOW+0.3%, Nasdaq+0.7%)
• The meme coin group is represented as a positive 5-7%: DOGE +7%, SHIB +6%, PEPE +6%, TRUMP+,7%, BONK+6%
• Hyperliquid brought in revenue from the Unchain Protocol at $2.8 million followed by Pump $1.88 million
• OpenSea opens a physical collection center, collecting card grades from the allied platforms of Pokémon, Sports and One Piece.
• The Solana Foundation recruited the former global CMO of Binance to lead an institutional expansion team.

In a nutshell, it's like this: "I don't know. Despite the large-scale hacking of $350 million, the market is still standing and a tokenization movement called BlackRock has become a new model for other financial institutions to follow.