Shine Shang

Ondo has been selected in DTCC's Industry Working Group to advance tokenization in the U.S. @The_DTCC custodies over $114 trillion in assets and clears $3.7 quadrillion annually. It is now building a tokenization service designed to bring the core of U.S. capital markets onchain, with Ondo among the select firms contributing to its design. Ondo will work alongside a set group of TradFi and DeFi firms, including BlackRock, Goldman Sachs, J.P. Morgan, Franklin Templeton, Morgan Stanley, Bank of America, Citadel Securities, NYSE Group, Circle, Fireblocks, Robinhood and more. DTCC President and CEO Frank La Salla on the significance of the moment: “We believe tokenization will significantly change how markets work and operate, bringing new levels of liquidity, transparency and efficiency to investors.” The DTCC has been at the center of U.S. capital markets for over 50 years. Its decision to build a tokenization service, and to bring Ondo to the table alongside the world's leading financial institutions, reflects how far tokenization has come. As the largest tokenizer of stocks and ETFs and one of the largest tokenizers of U.S. Treasuries, Ondo is well positioned to contribute to the work ahead and keep the U.S. at the forefront of global markets.

@Nazo_ku @KatieAWheeler @nathanlallman Please do something for the long-term development of Ondo

Wallet 0x524, linked to Ondo Finance, has transferred approximately 20M $ONDO 2h ago: - 15M $ONDO ($3.95M) was moved to multi-sig wallet 0x611. - 4.9M $ONDO ($1.29M) was sent to a long-time associate wallet 0xFC9, likely for a sell-off. On the flip side, we’re seeing some accumulation from whales. Earlier, two major investors withdrew 2.84M $ONDO from Coinbase Hot wallet to Coinbase Custudy: - Whale 0x807 scooped up 1.7M tokens ($458K). - Whale 0x61d withdrew 1.14M tokens ($314.4K). These whales are doubling down on $ONDO with a high-conviction strategy: they’ve committed to holding unless the price hits at least a 50% gain. What’s your move? Today, Ondo Finance hit a massive milestone: "$800,000,000 in Tokenized Stock TVL." The project is firing on all cylinders in the RWA space. However, this massive growth gives VCs and the core team even more reason to realize profits, creating a persistent sell pressure that keeps the token price from mirroring the project's actual success. Multisig wallet: 0x524083970c7a1e62FBaa61D38781F87A4f191FD0 0x611847468B03f2887281d5277D8e33C17aEdBa58 Wallet 0xfC9 0xfC999D398C459e917F892391c1d4219501d26345

$800,000,000 In Tokenized Stock TVL. Of the $1B+ tokenized stocks sector, $800M sits on Ondo Global Markets, the #1 platform for tokenized stocks. Driven by tens of thousands of holders and $15B in cumulative volume, the momentum behind tokenized stocks is undeniable.

Kraken has enabled USDe rewards. Users holding USDe on @krakenfx now earn 4.25% APY automatically. The first US exchange to offer Ethena-powered savings.

Franklin is partnering with Ondo to have all their ETFs be tokenized so people on-chain can enjoy the awesomeness of cheap beta. Like I been saying, tokenization isn't a threat to ETFs, on the contrary, it's a distribution mechanism. Via @isabelletanlee

We’re excited to announce that Ondo has partnered with Franklin Templeton (@FTDA_US), one of the world’s largest asset managers with $1.7T AUM. Together, we’re bringing exposure to Franklin Templeton-managed investment products onchain through Ondo Global Markets.

For decades, someone else decided what went in your portfolio. On Glider, you get to decide. Build your own investment portfolio with $TSLAon, $NVDAon, $SPYon or any stock. Every tokenized stock by @OndoFinance. Available to anyone, anywhere in the world.

$700,000,000.00 in tokenized stock TVL. Ondo Global Markets has surpassed $700M in TVL, commanding 60%+ market share, with tens of thousands of holders and $13B in volume. First: millions. Next: billions. Then: trillions.

Ondo Tokenized Securities are now available on Binance Convert. Discover 10 tokenized stocks and convert directly. Explore now 👉 binance.com/en/convert/USD…

Bitget expands Spot Market with @OndoFinance-powered tokenized stocks, ETFs and precious metals. Users can now trade assets like NVDAon and TSLAon 24/7 on 𝗕𝗶𝘁𝗴𝗲𝘁’𝘀 𝘀𝗽𝗼𝘁 𝘁𝗿𝗮𝗱𝗶𝗻𝗴 𝗽𝗮𝗴𝗲 directly with USDT.

Arguably my favorite part of this rewards/yield debate has been when bankers say “if we allow this, then we’ll see massive deposit flight.” Crypto has already been offering rewards/yield on stablecoins FOR YEARS. Where is the deposit flight? Is it in the room with us right now?

I'm excited to announce that with $TLGYF's shareholder vote scheduled for today, @stablecoin_x, the $ENA treasury company for @ethena, will be publicly listed soon under the ticker $USDE. All $TLGYF public shares will be automatically converted on a 1-for-1 basis at closing. I've been asked many times "Why Ethena" and thought I'd share my personal views below. The TLDR is that $ENA is truly a generational asset that is worth, in our view, north of $0.70 today, multiples of where it trades currently. Key to our view is the belief that the tokenization of assets will drive $USDe adoption to $100 - $350 billion by 2030, leading Ethena to become one of the few crypto projects that reach multi-billion dollar annual revenue scale. Excited to partner with @gdog97_ and the rest of the Ethena team, and looking forward to sharing more as we get to closing.

Why @ethena could become the liquidity layer for derivatives 1. USDe is made for perp markets - built from long ETH/BTC spot + short perpetual futures - naturally tied to perps - works well as perp collateral 2. Yield-bearing collateral - most perp dexes need token incentives to attract liquidity - with USDC collateral, the protocol pays those incentives - with USDe, yield is built in, acting as a liquidity subsidy and lowering protocol costs 3. Derivatives dominate crypto - Perp trading dwarfs spot: ~$500B/day vs ~$100B - If USDe becomes the go-to perp collateral, demand could surge 4. Network effects may form - Several ecosystems are already building around USDe: Reya, Hyena, Ethereal, Drift - More integrations → more liquidity → harder to replace. 5. A potential flywheel USDe minted → Used as perp collateral → Perp volume grows → Funding rate generates yield → Yield goes to USDe holders → Demand for USDe grows 6. Institutional-style margin collateral - In traditional finance, derivatives collateral often earns interest: treasury collateral, repo markets, and interest-bearing margin accounts. - USDe introduces a similar structure in crypto: collateral + yield. - This brings derivatives markets closer to institutional trading models. 7. If this plays out Tether → liquidity layer for spot markets Ethena → liquidity layer for derivatives

New batch of Ondo Tokenized Securities is now live on Binance Alpha: HOODon, COINon, ORCLon, SLVon, INTCon, PLTRon, MUon, MSTRon, BABAon, IAUon. 20 Ondo tokenized securities are now available on Binance Alpha, with more to come. Try now 👇 app.binance.com/uni-qr/cex-sto…

REGULATION: Abu Dhabi approved @OndoFinance's tokenized stocks — including Apple, Nvidia and Tesla — to trade on @binance's regulated platform. The first approval of its kind under ADGM's framework.

SPY (S&P 500) and QQQ (Nasdaq-100) are among the biggest and most widely held ETFs in the world. Now they're also available for use as collateral on @Morpho, via @OndoFinance. A development to follow 👇

Ondo tokenized securities are now available on Binance Alpha! 🔸 Trading fees as low as 0% 🔸 Use your CEX funds seamlessly 🔸 10 tokenized securities available at launch 🔸 Trade or hold to earn Binance Alpha Points Stay tuned for upcoming trading campaigns. Learn more 👉 binance.com/en/support/ann…

5% of $ELON supply goes to ENA stakers. Claim is live.

Tokenization goes mainstream by tapping into TradFi. Ondo's tokenized stock trades execute under 5bps of slippage (compared to market order book prices). No other platform has demonstrated the same. ❎ PROBLEM: Liquidity pools do not scale Most tokenized stock platforms operate in isolation from traditional markets, meaning they need to bootstrap onchain liquidity from scratch. Even with a conservative $1 million pool per asset, supporting all 6,000+ stocks on NYSE and Nasdaq would require more than $6 billion in capital locked per chain. That's $60 billion across ten chains. And the execution problem remains unsolved. ✅ SOLUTION: Tap into the liquidity that already exists Ondo Global Markets plugs directly into traditional exchanges like NYSE and Nasdaq, where hundreds of billions change hands every day. Ondo's tokenized stocks can be bought and sold at scale, with consistent execution and negligible slippage. ➡️ See trades over $150K+ on @gm_alerts.

Ethena has no ADL "deals". Never has. ADL risk has been in the risk section of our docs since day one: docs.ethena.fi/solution-overv… ADL implementation varies by exchange, but generally follow a similar waterfall of applying ADL to accounts with the: i) highest leverage ii) highest roe/ unrealised pnl In contrast to others, Ethena sweeps pnl daily and runs zero leverage. It is therefore considered one of the lowest risk accounts on the exchange and sits at the bottom of the ADL waterfall as a result. As far as we are aware, there have not been any ADLs on BTC or ETH on the venues Ethena executes since 2018 on OKX. The vast majority of the backing sits in BTC and ETH on venues with a 8yr+ track record of not applying ADL to these assets, including on 10/10. Ethena has no special ADL deals, just basic risk management.