The launch adds another blue-chip asset manager to Wall Street’s tokenization push. Firms including BlackRock, Franklin Templeton, Apollo and Janus Henderson have embraced onchain versions of traditional funds, betting the technology can modernize how assets are issued, transferred and settled. Supporters argue the technology can shorten settlement times, improve operational efficiency and allow assets to move more easily across blockchain-based financial applications.For Centrifuge, the partnership adds another large asset manager to its platform. The company already tokenizes funds from Apollo, Janus Henderson, with those assets increasingly integrated into decentralized finance protocols such as Aave and Morpho. It is also the…

The Framers established a federal government consisting of three branches that were supposed to exercise distinct functions: legislative, executive, and judicial. But beginning in the late 19th century, Congress created dozens of “independent” agencies that exercise all three functions. On Monday in Trump v. Slaughter, the Supreme Court addressed one puzzle posed by that situation: the purported independence of those agencies. But as Reason’s Damon Root notes, that decision did not address the line-crossing authority of ostensibly executive agencies that also effectively make law and adjudicate cases. Instead, the Court concentrated those powers in the hands of the president—a development…

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