OVERVIEW

Will JPMD Make $LINK The New LIBOR? 🤯 

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total market and altcoin market cap charts:

NEWS
JPMorgan’s ‘JPMD’ Trademark Screams “We’re Tokenizing Everything, Deal With It” 🪙

JPMorgan ($JPM ( ▼ 0.31% )) tossed a JPMD trademark into the USPTO yesterday and, shocker, it covers every piece of crypto plumbing: trading, custody, payments, the works. 😱 

File date? June 2025. Scope? Institutional-grade tokenized assets flying around faster than Jamie Dimon can mutter “still don’t like Bitcoin.”

Wait - Is Chainlink the Secret Sauce? 🤔 

• Receipt in hand: Kinexys (JPM’s rebranded Onyx desk) used $LINK.X ( ▼ 7.49% )’s CCIP + CRE in May to settle $ONDO.X ( ▼ 11.13% )’s tokenized U.S. Treasuries, $OUSG.X ( ▲ 0.01% ), across a public chain.

• First time on mainnet: That single trade proved JPM’s permissioned network can handshake with Ethereum-based rails without melting down.

• Trademark timing: JPMD dropped three weeks later. Coincidence or quiet beta test? You decide.

Other Chains (and Tokens) Already in JPM’s Orbit 🌍️ 

Bitcoin maxis probs super mad - no direct BTC hookup yet. But watch the custody language in that filing.

Chainlink’s Rolodex: Proof JPM Isn’t Flying Solo ✈️ 

1. Swift x Chainlink (2016-ongoing) – 11.5k banks get one API to rule all chains.

2. DTCC Pilot (2023) – $2 quadrillion in securities looking for on-chain NAV data.

3. MAS / UBS Tokenized Funds (2024) – Mutual-fund plumbing re-engineered on CCIP.

4. Euroclear Corporate Actions (2024) – Killing paper notice delays that cost banks $3–5 million a year.

5. Visa e-HKD+ (2025) – CBDC swap tests in Hong Kong using Chainlink price feeds.

See a pattern? Every TradFi giant flirting with tokenization lets Chainlink drive the getaway car.

So What Happens If JPMD Goes Live? 🤔 

• Liquidity Honey Pot – Tokenized Treasuries, repos, maybe even equities feeding a 24/7 desk.

• Fee Tidal Wave – Settlement spreads shrink, but volume rockets. JPM still wins.

• LINK Price Catalyst – More CCIP volume = higher demand for LINK-denominated gas fees. Traders are already front-running that narrative on Stocktwits.

• Copy-Cat Banks – Citi, BNP, HSBC - you know they’re watching. Nobody wants to be the next Blockbuster.

Winner, Winner, Chicken Dinner 🐔 

JPMorgan’s trademark isn’t just corporate paperwork—it’s a neon sign saying “TradFi finally figured out how to plug into DeFi without breaking compliance.”

If they stick with Chainlink’s stack, LINK, ONDO, and any chain CCIP touches grab the upside. 🚀 

SPONSORED
Two Cybertrucks, Two Ways To Win!

Gemini is giving away TWO Cybertrucks to celebrate their Bitcoin Credit CardTM launch!

Every $50 you spend on their Credit Card = 1 entry

Every $50 you trade on Gemini Exchange = 1 entry

*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here. 

NEWS
Shining Light On TRON’s Sun Sins. Well, Alleged Sins 👿 

It was impossible to toss everything in yesteday’s Litepaper regarding Justin Sun - so here’s the rest.

Justin Sun’s rise has been anything but shy or orthodox. If crypto entrepreneurship were a reality show, Sun would be the contestant always finding a loophole to stay on the island. 🏝️ 

He has drawn comparisons to the likes of Do Kwon (of Terra/Luna infamy) and Sam “SBF” Bankman-Fried – and not just for his net worth. It’s the patterns of behavior: grand promises, creative (if not illegal) market maneuvers, regulatory run-ins, and a trail of disillusioned partners and users.

Transparency is one quality often lacking – if Do Kwon and SBF showed us how opaque dealings end (hint: in handcuffs or hiding), Sun’s story seems perilously on the same trajectory unless he changes course.

Let’s recap Sun’s Greatest Hits of Shadiness, which reads like a checklist for crypto scandal bingo:

Timeline: Key Moments in Justin Sun’s Controversies 📅 

Crypto Crime: Tron’s Unwanted Crown 👑 

One would hope that taking Tron public means Justin Sun is ready to leave his shady habits behind – and he’ll certainly claim as much. But a glaring issue stands in his way: Tron’s blockchain has a serious crime problem.

• Illicit crypto is a rounding error – just 0.4 % of 2024’s $10.6 trillion on‑chain volume was dirty money.

• Tron hogged the grime – 58 % of that illicit flow ($26-ish billion) raced through Sun’s bargain‑bin network, leaving Ethereum at 24 % and Bitcoin at 18 %.

• WSJ’s one‑liner – Tron is the “popular channel for crypto’s criminal fraternity.” Not exactly Nasdaq‑safe branding.

• Why crooks adore Tron:

  • Near‑zero fees + fast finality = cheap getaway car.

  • USDT dominates on Tron – perfect laundering fuel.

  • Over half of North Korea’s 2024 loot hit Tron within hours of each hack.

  • UN‑backed crime watchdogs name‑checked USDT‑on‑Tron as the go‑to for East‑Asian washers.

• Damage control, Sun‑style:

  • T3 Financial Crime Unit (Tron + Tether + TRM) launched Aug 2024 – think of it as a regulatory peace offering.

  • By Jan 2025 it bragged about >$100 M frozen, crossing $126 M a few weeks later.

  • Sample takedowns:

    • $29.6 M tied to a Cambodian “pig‑butchering” scam iced July 2024.

    • $12.3 M locked June 15 2025 after fresh AML red flags.

    • $26.4 M frozen in a pan‑EU laundering ring Jan 2025.

• Progress, but still messy: TRM Labs says Tron’s illicit haul fell $6B YoY in 2024 – the biggest drop of any chain – thanks largely to the T3 freezes.

Can a Pirate Captain a Navy Ship? 🏴‍☠️ 

Public companies file 10-Ks, host earnings calls, and can’t hide wash-trades behind “decentralized” memes. Sun’s success now hinges on radical transparency - the one tactic he’s never tried.

If he keeps the curtains closed, expect a Kwon-style collapse in prime time.
If he flips on the lights, Tron might graduate from shady back-alley rails to legitimate fintech plumbing.

Place your bets. 🎰

NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️

💸 USDC Turns Native on World Chain

Native USDC - and CCTP V2 - now ride World Chain for fee-lite remittances across 160 nations. The bridged coins auto-converted overnight, so users woke up to the real thing backed by cash and T-bills. Stablecoin evangelists just got their favorite adoption chart handed to them on a silver platter. Worldcoin.

🏛️ Ondo’s OUSG Lands on XRP Ledger

Ondo’s tokenized T-bill fund is live on XRPL with round-the-clock mint and redeem in RLUSD. Institutions can settle treasury exposure in seconds instead of banking hours. If “TradFi meets DeFi” had a LinkedIn profile, this launch just updated its résumé. Ondo Finance.

NEWS IN THREE SENTENCES
Real World Asset Tokenization (RWA) News 🪙

🔗 Chainlink CRE Orchestrates First Kinexys-Ondo DvP

OUSG moved on Ondo while dollars cleared on J.P. Morgan’s permissioned chain in one atomic handshake. CRE handled the cross-chain chatter so neither party sweated settlement risk. Somewhere a back-office clerk just Googled “obsolete.” Chainlink.

💳 Alchemy Pay Taps Backed for Tokenized Stocks

Alchemy Pay will let users in 173 countries swipe local fiat for on-chain Apple and Tesla shares. Fractional equity 24/7 without a broker sounds great - until you realize your portfolio is now a MetaMask tab. This is how TradFi gets meme-coin volatility in a suit. Alchemy Pay.

Get In Touch 📬

Follow our social channels for great, real-time content on Stocktwits and Twitter. And check out our YouTube channel for in-depth video content! 📲

Email me (Jonathan Morgan) your feedback; I’d love to hear from you. 📧

Want to sponsor this newsletter and reach hundreds of thousands of crypto enthusiasts? Reach us here. 👍

Terms & Conditions 📝

Securities Disclaimer: STOCKTWITS IS NOT A TAX ADVISOR, BROKER, FINANCIAL ADVISOR OR INVESTMENT ADVISOR. THE SERVICE IS NOT INTENDED TO PROVIDE TAX, LEGAL, FINANCIAL OR INVESTMENT ADVICE, AND NOTHING ON THE SERVICE SHOULD BE CONSTRUED AS AN OFFER TO SELL, A SOLICITATION OF AN OFFER TO BUY, OR A RECOMMENDATION FOR ANY SECURITY. Trading in such securities can result in immediate and substantial losses of the capital invested. You should only invest risk capital, and not capital required for other purposes. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should also consult an attorney or tax professional regarding your specific legal or tax situation. The Content is to be used for informational and entertainment purposes only and the Service does not provide investment advice for any individual. Stocktwits, its affiliates and partners specifically disclaim any and all liability or loss arising out of any action taken in reliance on Content, including but not limited to market value or other loss on the sale or purchase of any company, property, product, service, security, instrument, or any other matter. You understand that an investment in any security is subject to a number of risks, and that discussions of any security published on the Service will not contain a list or description of relevant risk factors. In addition, please note that some of the stocks about which Content is published on the Service have a low market capitalization and/or insufficient public float. Such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information. Read the full terms & conditions here. 🔍

Author Disclosure: The author of this newsletter holds positions in ADA, IMX, COPI, MIN, AGIX, ALGO, ZEC, XLM, and NEAR. 📋