crypto

Sage D. Young39m

TON springs on news Telegram will act as a “driving force” for the network

Toncoin, the native token for The Open Network, has jumped more than 26% in the last 24 hours after Telegram CEO Pavel Durov said the popular messaging app will play a larger role in the ecosystem.

Telegram will become the largest validator for The Open Network and replace the TON Foundation “as the driving force behind TON,” Durov wrote in a Monday message shared on Telegram and X.

Digital assets within the TON ecosystem have also rallied on the news, with canine-based coin DOGS rising 81% and gaming token NOTCOIN increasing 14%. Despite the ongoing rally, TON hitting $1.80 is still a far cry from its all-time high of $8.25 set in 2024, data from CoinGecko shows.

The Open Network is a layer 1 blockchain that last year became the exclusive network for Telegram’s mini apps ecosystem, which includes an embedded crypto wallet.

Jakob Palmstierna, president of crypto trading firm GSR, said the announcement is more akin to a reunion than a pivot. “TON was originally created to be Telegram’s financial infrastructure, and the foundation spinout was largely a regulatory workaround,” Palmstierna told Sherwood.

He added, “Telegram stepping in now is simply completing the road map, turning one of the world’s largest messaging platforms into a true super app with a native monetary layer.”

Bitwise research analyst Ish Asad told Sherwood, “Telegram has already been the primary driver and source of usage for the TON chain, and this new development should further strengthen their alignment.”

More Crypto

Yaël Bizouati-Kennedy

Bitcoin passes $81,000 as optimism builds

One expert said “these levels could represent the critical ‘demarcation line’ between bull and bear market.”

A Bitcoin ATM in Hong Kong...

crypto

Sage D. Young3h

Bullish soars on $4.2 billion deal to acquire transfer agent Equiniti

Shares of crypto exchange Bullish spiked on news that the firm agreed to acquire transfer agent Equiniti for $4.2 billion, comprising $1.85 billion of assumed debt and $2.35 billion in Bullish stock consideration.

The deal is Bullish’s latest effort to build out its tokenized securities capabilities for around-the-clock trading and instant settlement, per a Tuesday press release.

Equiniti is one of the largest transfer agents, providing services to around 3,000 companies including Warren Buffett’s Berkshire Hathaway, luxury automobile maker Rolls-Royce, and credit ratings giant Moody’s, according to a report from The Wall Street Journal.

“Tokenization is a once-in-a-generation shift in how capital markets operate, the defining infrastructure trend of the next 25 years,” according to Bullish CEO Tom Farley, who was the former president of the New York Stock Exchange. “I believe it uniquely positions us to lead the transition to tokenized securities,” Farley continued in a statement.

Crypto Exchange Bullish Strikes $4.2 Billion Deal for Transfer Agent in Tokenization Push

Crypto Exchange Bullish Strikes $4.2 Billion Deal for Transfer Agent in Tokenization Push

Equiniti is one of the largest transfer agents, providing services to around 3,000 companies including Warren Buffett’s Berkshire Hathaway, luxury automobile maker Rolls-Royce, and credit ratings giant Moody’s, according to a report from The Wall Street Journal.

“Tokenization is a once-in-a-generation shift in how capital markets operate, the defining infrastructure trend of the next 25 years,” according to Bullish CEO Tom Farley, who was the former president of the New York Stock Exchange. “I believe it uniquely positions us to lead the transition to tokenized securities,” Farley continued in a statement.

Yaël Bizouati-Kennedy

Bitcoin briefly reclaims key $80,000 level

A late Friday compromise on the CLARITY Act is boosting optimism for bitcoin in the longer term as well as shares of Circle and Coinbase today.

bitcoin symbol in poland

Sage D. Young5/1/26

The decentralized finance ecosystem had a brutal April, logging the highest monthly number of exploits ever at 28 hacks, with exploiters siphoning off a total of $635.2 million, data from DefiLlama shows.

The two largest exploits in April occurred on ethereum-based protocol KelpDAO and solana-native trading venue Drift. The incidents rattled on-chain users, as the total value locked in DeFi across all networks dropped from a monthly high of $99.5 billion to $84.3 billion on Friday.

“It’s a real problem, and if AI proponents (thinking specifically of Anthropic’s claims about Mythos) are to be believed, it’s only going to get worse,” according to Fredrick Collins, CEO of crypto analytics platform Velo.xyz. Collins argued that these exploits act as a significant limiter of institutional appeal, pointing to TheBlock’s report last week that JPMorgan held a similar view.

“It’s simple — for many people, having any chance that you lose your entire investment or balance in something supposed to be ‘safe’ is too much to bear,” Collins told Sherwood News.

However, not everyone thinks the recent hacks will curb interest from institutions. Nicolai Søndergaard, a research analyst at blockchain data firm Nansen, said to Sherwood, “I do not think these hacks will be a limit to institutional capital given the impact of AI and the speed at which threats appear stretch far beyond this industry.”

Søndergaard continued, “Crypto to me seems to have been hit harder as many projects perhaps wanted to get a product out there quickly and didn’t invest enough in security, even with companies around to audit.”

DeFi aims to enable internet users to have access to financial services, such as borrowing, lending, and trading, without any centralized intermediaries.

Yaël Bizouati-Kennedy

After bitcoin’s best month in a year, analysts weigh in on factors for it to break $80,000 in May

May has an over 7% average historical return, but whether bitcoin can replicate this result and finally break the $80,000 level hinges on several factors.

bitcoins on the eyes

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Derivatives, LLC, or Robinhood Money, LLC. Futures and event contracts are offered through Robinhood Derivatives, LLC.

©2026 Sherwood Media, LLC