Market Analysis Report (24 Jul 2025)
Main Idea
Goldman Sachs and Bank of New York Mellon have launched a platform for tokenized money market funds, Square introduced Bitcoin payments via Lightning Network, and FTX announced its next round of creditor repayments.
Key Points
1. Goldman Sachs and BNY Mellon launched tokenized money market funds, a growing sector in crypto and traditional finance, with tokenized Treasuries value tripling to $7 billion this year.
2. Square rolled out Bitcoin payments for merchants using the Lightning Network, enabling fast, low-cost transactions and instant conversion to fiat.
3. FTX will begin its next round of creditor repayments on September 30, having already repaid $6.2 billion, with funds distributed via BitGo, Kraken, and Payoneer.
4. Tokenized money market funds are typically backed by short-term U.S. government debt, highlighting the intersection of crypto and traditional finance.
5. FTX's financial issues were exposed in 2022, leading to founder Sam Bankman-Fried's conviction in 2023 on fraud and conspiracy charges.
Description
Goldman Sachs, BNY Mellon Launch Tokenized Money Market Funds | Square Rolls Out Bitcoin Payments for Merchants via Lightning Network | FTX to Begin Next Round of Creditor Payouts on Sept. 30
