Franklin Templeton launches dedicated crypto division after closing 250 Digital acquisition

Crypto Sector Sees String of Developments as Adoption Grows

The past week has been marked by significant developments in the crypto sector, with major players launching new initiatives, investing in research and development, and pushing for greater decentralization. Despite market volatility, the sector has shown resilience and a commitment to growth.

What Happened

• Franklin Templeton Launches Crypto Division: Franklin Templeton, a global investment management organization, has launched a dedicated crypto division after closing its acquisition of 250 Digital. The new unit arrives amid rapid growth in tokenized assets, with Franklin Templeton's on-chain product suite expanding from roughly $768 million to more than $2.5 billion over the past year.
• Strive Says Digital Credit Selloff Was a Liquidation Event: Strive, a digital credit platform, has argued that the recent selloff in digital credit products was a liquidation event rather than a credit crisis. The platform's analysis points to forced selling rather than a breakdown in decentralized finance markets.
• New Ethereum Research and Development Lab Launched: BitMine, Sharplink, and Joe Lubin have come together to fund a new research and development lab aimed at boosting the Ethereum network and ETH.
• Chainlink Brings Samsung, Toyota, and Sony Pricing On-Chain: Chainlink has launched APAC Equities Streams, an oracle feed that brings pricing for large Asia-Pacific companies on-chain. The streams cover the region's largest listed names, including Samsung, SK Hynix, Toyota, Sony, and SoftBank.
• Aztec Reaches L2Beat Stage 2: Aztec, a privacy-focused Ethereum layer-2, has reached Stage 2 on L2Beat, the highest decentralization rating the rollup tracker assigns. The milestone followed an on-chain governance action that revoked ownership of the rollup contract.

Why It Matters

The developments of the past week demonstrate the sector's commitment to growth and decentralization. Despite market volatility, major players are investing in research and development, launching new initiatives, and pushing for greater decentralization.

"The launch of our crypto division is a significant milestone for Franklin Templeton, and we are excited to expand our presence in the sector." — Jenny Johnson, President and CEO of Franklin Templeton

What Experts Say

• Decentralization is Key: Experts argue that decentralization is key to the sector's growth and adoption. "Decentralization is the future of finance, and we are committed to making it a reality," said Joe Lubin, co-founder of Ethereum.
• Institutional Investment is Growing: Despite market volatility, institutional investment in the sector is growing. "We are seeing increased interest from institutional investors, and we expect this trend to continue," said a spokesperson for Strive.

Key Numbers

• ****$2.5 billion:** The value of Franklin Templeton's on-chain product suite, up from $768 million last year.

Key Facts

• Who: Franklin Templeton, Strive, BitMine, Sharplink, Joe Lubin, Chainlink, Aztec
• What: Launch of crypto division, argument that digital credit selloff was a liquidation event, launch of new research and development lab, launch of APAC Equities Streams, Aztec reaches L2Beat Stage 2
• Impact: Demonstrates sector's commitment to growth and decentralization despite market volatility

What Comes Next

The developments of the past week demonstrate the sector's resilience and commitment to growth. As the sector continues to evolve, we can expect to see further investment in research and development, greater decentralization, and increased institutional investment.