19th March 2026 > > HYPE & tokenisation.

tl;dr

A bit of hype about HYPE, but not from the CCC. The tokenisation revolution has just taken a huge step forward.

Market Snap

Market Wrap

I leave you alone for seven days and what happens? Obviously apart from the war and stuff – BTC is unchanged. That is a serious lack of volatility.

Occasional Series – Back from the Arctic Circle!

I did finish the race, and I didn’t (quite) come last, so I am very happy.

Curious Cryptos’ Commentary – Arthur Hayes & HYPEThe CCC has a very firm policy of not providing investment recommendations – our job is to explore and, hopefully, illuminate the multitude of developments that happen daily as the crypto revolution forges an ever deeper and ever more meaningful path, allowing us all an unprecedented degree of privacy and freedom never countenanced before now.

But I am not naïve – I know that most readers’ interests are maximising their crypto bags when valued in dirty fiat. I get that. I am the same too.

Arthur Hayes’ latest essay focusses on HYPE, a coin that has been part of the CC Treasury portfolio since just after its launch at the backend of 2024 (my, how time flies). Arthur expresses very clearly the reasons why the CC Treasury committee view HYPE as a long-term holding, though I must admit some active trading now means that the CC stash has been acquired for no outlay at all. In fact, the CCC’s HYPE bag has been acquired for a modest net income, which is a nice place to be. You will find Arthur’s musings here:

https://substack.com/home/post/p-190303522

I repeat that the CCC is not trying to persuade anyone to invest in HYPE. Clearly, Arthur is doing exactly that, which he explains in his inimitable fashion:

“What do I or we at Maelstrom actually do? We are hype men that monetize attention. Monetization occurs by profiting from mostly long and rarely short positions in Bitcoin and various shitcoins. By bringing attention to our point of view, we believe that, on average over time, the market will validate our thesis. Right now, focus your attention on Hyperliquid (token: $HYPE).”

Arthur is a keen ski tourer (one of the most enjoyable and soul-enhancing pastimes one could ever wish for) so you just know that he is a good egg.

…

Just in case anyone is tempted to put a little HYPE aside for a long-term investment, it is important to understand that it is a Layer-1 coin with a proof-of-stake consensus mechanism. This means that stakers will grow their stash by around 2% per annum, buffeted by the usual factors that influence staking rewards.

Do not make the mistake of equating staking rewards with interest on a fiat bank account. HMRC is deliberately doing so, as an underhanded way of trying to squeeze yet more tax dollars out of the financially prudent, an attitude and a culture that infests the technocratic bureaucracy who rule our lives. We know that HMRC has never, and will never, be on the side of hard-working taxpayers.

If you do own HYPE, then by not staking you are ensuring that your bag is being devalued by the annual inflation rate of the staking reward structure. Staking HYPE is a relatively simple process but may appear complicated to someone whose familiarity with DeFi is limited to non-existent. If that is you, please do not hesitate to contact me or my technical team who will provide as much guidance and help as you could wish for, at no cost. We do this for the love of cryptos.

Curious Cryptos’ Commentary – Lovely

Now under enlightened management who value freedom and privacy, the SEC has given approval for Nasdaq to pilot the trading of tokenised stocks:

https://www.sec.gov/files/rules/sro/nasdaq/2026/34-105047.pdf

“Eligible participants” will be able to choose the traditional method or the tokenised option, which crucially carries the exact same legal property rights as the physical share itself.

The initial application was made in September last year, which attracted the ire of the naysayers who tried to kill this initiative. But the SEC has this to say to the dinosaurs:

“While comments were expressed regarding the risks of tokenization, such as prices diverging between tokenized and traditional securities, holders of tokenized securities not receiving the same rights as shareholders in the underlying company, provisions of securities laws being potentially inapplicable, and market surveillance concerns, these concerns have been addressed.”

Yah boo sucks would have been shorter and more apposite.

I confidently predict that by the end of 2026, all legacy centralised stock, bond, and commodity exchanges will offer tokenised versions which will prove to have greater liquidity and depth than the traditional and dying way of trading investments.

Life doesn’t get much more exciting than that.