The Breakdown Tokenization’s Starting Gun
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Dec 4, 2025 Larry Fink argues that tokenization is at an internet-1996 moment, with Wall Street following suit. The discussion highlights Bitcoin's resurgence fueled by macro liquidity and recent Fed policies. The importance of consistent regulation is emphasized, alongside a call for recognizing on-chain securities. Industry shifts are explored, including Kraken's strategies for acquisitions to enhance their tokenization capabilities. The potential for instant settlement and global standards through tokenization presents exciting prospects for financial infrastructure.
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Macro Liquidity Helped Bitcoin Rebound
- Bitcoin rallied to a two-week high around $94,000 amid ETF flows and rising Fed liquidity signs.
- Market priced near-certain Fed cuts next week after repo injections and guidance toward more accommodation.
Tokenization Is At An Internet-1996 Moment
- Larry Fink and Rob Goldstein argue tokenization is where the internet was in 1996 and could scale much faster than expected.
- Tokenization can act as a bridge between legacy institutions and digital-native finance, converging in the middle by 2026.
Faster Settlement, Less Friction
- Fink and Goldstein emphasize tokenized assets settle instantly and replace paper records with code to reduce friction.
- That creates a potential global settlement standard improving cross-border finance efficiency.