The Saliba Signal
The Saliba Signal
Latest posts
20 posts
August 28, 2026
Part III: Where Our Own Money Sits
The Market Changes Hands Twice, Part III of III. Annex, Stratofied, Champion Venture Partners and TokenBloq all approach the same wall. Mercury RWA is the venue we're standing up for it.
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August 21, 2026
Part II: Only 244 Firms Made It Through
The Market Changes Hands Twice, Part II of III. Four crypto companies hit a wall this year. Then Europe's licensing deadline left 244 firms standing out of roughly 3,000.
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August 14, 2026
Part I: The Exchange Was the Trade
The Market Changes Hands Twice, Part I of III. CME went public in 2002 at $35 and turned a dollar into sixty. The index managed ten.
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August 7, 2026
Half a Settlement Is Not Settlement
Wells Fargo joined seventeen banks building the money side on Tuesday. Tokenized securities go live in October; the bank cash to settle them lands in 2027.
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July 31, 2026
Ondo Took Its Order Book Off Chain
Wall Street separated matching from settlement a long time ago. The largest on-chain equity issuer just arrived at the same answer.
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July 24, 2026
Wall Street Says Tokenized Stocks Won't Matter
Broadridge polled 200 senior decision-makers. Half doubt tokenized equities. June's transfer volume ran 170 times last June's.
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July 17, 2026
JPMorgan Posted a Token as Margin
More than thirty firms went live at the DTC on Wednesday. Every headline trade was a financing desk moving collateral.
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July 10, 2026
The SEC Is Writing the Rulebook
A year of statements and no-action letters is about to become an actual proposed rule. The clause that matters for tokenized securities sits under the startup headlines.
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July 2, 2026
Happy Fourth of July
Markets are closed tomorrow, and so are we. Back next Friday with a regular issue.
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June 26, 2026
Bitcoin Tagged a 20-Month Low
A relief rally fizzled and the longs got flushed. The two catalysts that actually matter have nothing to do with the candle.
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June 19, 2026
Six Firms Are Building the Same Reserve Fund
The GENIUS Act mandated 1:1 stablecoin reserves. Eleven months later, Wall Street's biggest names all have a product.
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June 14, 2026
Tokenization Gets a Ticker
The firm behind BlackRock's tokenized funds is three weeks from the Big Board.
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June 5, 2026
DTC Is Putting Wall Street on a Public Blockchain
July pilot, October launch, and a $114 trillion custodian behind it.
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May 29, 2026
Half the Options Market Didn't Exist Five Years Ago
Same-day options are 59% of SPX volume. Different math, different risk, different winners.
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May 22, 2026
The SEC Is About to Let Stocks Live On Chain
Three weeks of institutional moves just got their regulatory bookend.
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May 15, 2026
Bullish Bought a Transfer Agent
$4.2 billion to acquire Equiniti, one of the largest transfer agents in the world.
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May 8, 2026
TP ICAP and DTCC Move on Tokenization
Two announcements eleven days apart from the firms that run market structure for the rest of the system.
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May 1, 2026
Why TokenBloq Works Now
Part 2 of 2. The infrastructure underneath, and the three catalysts converging.
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April 24, 2026
The Company Opening Private Capital Markets to Everyone
Part 1 of 2. Meet TokenBloq, the team, and the road to Q2 launch.
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April 22, 2026
From Conference Rooms to the West Wing
Two Fridays off, and the reason for it.
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