Ton Tokenizes Bonds

PLUS: PYUSD wins SEC battle, 3.7M tokens go to zero and DePIN heats up

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Cryptopolitan News
April 30, 2025 • Estimated Reading Time: 8 minutes

Hello, and welcome to the Cryptopolitan Daily.

The crypto market never sleeps, and neither do we. Whether it’s breaking news, market shifts, or regulatory updates, we’re here to bring you the insights that matter—fast, sharp, and to the point.

📬 Today’s Byte

• TON Tokenizes Bonds

• SEC closes investigation into PayPal’s PYUSD Stablecoin

• 3.7M Tokens dead and counting

• Solana leads the DePIN infrastructure

Market-moving headlines 🔥

Nasdaq filed with the U.S. SEC seeking approval to list and trade 21Shares DOGE ETF shares under Nasdaq Rule 5711(d), which governs the listing and trading of Commodity-Based Trust Shares on the exchange.

Entrepreneurs claim that due to the saturation of the UK market, strict regulatory policies, and the lack of funding, UK business owners take their businesses outside the country.

The data came from Eurostat on Wednesday, showing stronger-than-expected output even as the region deals with pressure from U.S. trade tariffs and sluggish consumer confidence.

Broxus, a key contributor to The Open Network (TON) ecosystem, has unveiled TON Factory, a new development platform aimed at accelerating the creation and scaling of high-performance applications such as decentralized exchanges (DEXs) and blockchain-based games.

💰 TON Tokenizes Bonds

The TON blockchain has teamed up with Librecap to launch the $500M Telegram Bonds Fund (TBF). This new initiative will bring tokenized corporate bonds from Telegram, which has already issued $2.35B in bonds.

This partnership marks a significant step for the tokenization of real-world assets, especially corporate bonds, which make up a small portion of the tokenized asset market.

  • The fund will offer on-chain ownership of Telegram's corporate bonds.

  • The TBF will be available to accredited investors (those with high income or net worth).

  • Investors can use these tokenized bonds on DeFi platforms like EVAA Protocol to generate yield.

What it means for TON 

Corporate bonds are the smallest RWA category, making the addition of TON a significant inflow of liquidity. | Source: RWA.xyz

The TON Foundation sees this partnership as a major milestone in making TON more appealing to institutional investors. It will also bring more liquidity into the TON ecosystem, which has faced challenges with declining activity after the end of airdrop seasons.

With the addition of tokenized bonds, TON hopes to power up its DeFi activity and attract more investors, especially from the US market.

TBF token details and compliance

  • The TBF tokens won’t be freely available. Investors will need to go through special subscriptions to access them.

  • Librecap will provide the infrastructure to ensure compliance with regulations for buying, redeeming, and transferring the tokenized bonds.

  • The fund will be accessible for fiat or stablecoin investments but will be fully managed through TON's native wallets.

Impact on the TON ecosystem

  • The new TBF token is the largest RWA tokenization on TON so far, marking a huge move in the crypto space.

  • TON's daily active wallets have decreased recently, and the network’s total value locked (TVL) has dropped from $1B to $136.32M. The launch of the TBF fund could help revitalize the ecosystem.

  • TON's native token has remained stable, trading around $3.19, despite market downturns.

⚖️ Cryptopolitan Policy watch:

SEC closes investigation into PayPal’s PYUSD Stablecoin

The SEC has officially ended its investigation into PayPal’s stablecoin PYUSD, clearing the way for its continued crypto expansion. PayPal revealed in its Q1 2025 filing that the SEC would not pursue enforcement action, marking a win for its digital currency strategy.

  • Rewards program launch: PayPal introduces a 3.7% annual rewards program for US users holding PYUSD, a move aimed at driving adoption.

  • Partnership with Coinbase: In a strategic alliance, Coinbase will waive transaction fees on PYUSD trades, pushing for wider stablecoin adoption in global payment systems.

  • PayPal’s crypto vision: PYUSD, backed 1:1 by U.S. dollar deposits and short-term Treasuries, is part of PayPal’s long-term plan to reshape payment infrastructure with stablecoins.

PayPal’s Q1 2025 earnings show $7.79B in net revenue and expanding crypto offerings, solidifying its role in the evolving digital finance ecosystem.

📉 Cryptopolitan Market Pulse

😵 3.7M Tokens dead and counting

The numbers are staggering: 53% of all cryptocurrencies launched since 2021 have failed, with 2025 already setting records for dead tokens, per Coingecko’s report

🚨 1.8 million tokens have already died this year — the highest ever recorded in a single year
📈 Nearly 7M tokens launched since 2021, largely fueled by platforms like Pump.fun
📉 3.7M of them are now “dead coins”, many with no trading volume, utility, or roadmap

Why?
Rapid meme coin launches, low-effort deployments, and market turbulence have created a wave of short-lived tokens — especially since mid-2024.

🧠 Most common traits of failed tokens:

  • <$1K trading volume over 3 months

  • No use case or working product

  • Poor funding and no long-term plan

👉 Investors are urged to stay sharp, vet fundamentals, and track real utility — not just viral hype.

🧵 Cryptopolitan’s thread of the day

Find out how Solana leads the DePIN infrastructure 👇

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