U.S. stocks tumbled after a stronger-than-expected payrolls report stoked fears the Federal Reserve may keep policy tighter for longer. The Nasdaq logged its biggest one-day point drop on record and the S&P 500 shed roughly $1.8 trillion in market value, with AI and chip names leading declines as investors rotated out of high-multiple tech.
Source: MarketWatch
Risk-off deepens: Bitcoin slides below $60K as haven flows fade and volatility spikes
Bitcoin broke under the $60,000 mark amid a broad risk-off move, compounding a rough week for digital assets as funding costs turned negative and traders de-risked. The latest downdraft came alongside heavy selling in growth equities and a sharp reset in rate-cut expectations after the payrolls surprise.
Source: Seeking Alpha
Wall Street banks plan 2027 rollout of tokenized deposit network
JPMorgan, Bank of America, Citi, Wells Fargo and peers are developing a shared tokenized deposit system, aiming to deliver 24/7, low-cost settlement while keeping customer funds within the regulated banking stack. Operated by The Clearing House, the network would offer a bank-backed alternative to stablecoins, connecting institutions over common rails rather than issuing a joint coin.
Source: FinanceFeeds
Bank of America targets fintech turf with real-time cross‑border payments
BofA will launch a cross-border real-time payments service next quarter, linking to domestic fast rails such as Mexico’s SPEI, the UK’s Faster Payments and India’s UPI. The bank says clients will get second‑to‑minute delivery, no lifting fees, pre‑validation of beneficiary details and API access via CashPro—an aggressive push into high‑volume, low‑value payouts dominated by fintechs.
Source: FinanceFeeds
Securitize clears key SEC hurdle to go public via Cantor SPAC, spotlighting tokenization
The SEC declared Securitize’s S‑4 registration effective, paving the way for a June 29 shareholder vote on its merger with Cantor Equity Partners II. A successful deal would list “SECZ” on the NYSE, giving public investors direct exposure to tokenization infrastructure serving managers such as BlackRock, Apollo and KKR as onchain securities move from pilots to production.
Source: FinanceFeeds
Hong Kong convenes JPMorgan, HSBC, UBS to scale its tokenized bond market
The HKMA formed an expert group with global banks and digital-asset firms to standardize practices and policy for tokenized bonds, building on prior multi‑currency digital green bond issuances. The initiative shifts focus from pilots to market plumbing—settlement finality, investor rights, custody and secondary trading—to support repeat institutional issuance at scale.
Source: FinanceFeeds
Ramp raises $750M at $44B to build AI spend controls into corporate finance
Spend‑management platform Ramp secured a $750 million Series F led by ICONIQ, GIC and Ontario Teachers’, valuing the company at $44 billion. The capital will fund tools to track and cap AI token/model usage across enterprises—a fast‑growing, variable cost line—while expanding autonomous finance agents, payments and international reach.
Source: FinanceFeeds
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