The SEC’s Crypto Task Force announced the agenda for its next Roundtable discussion, which will focus on tokenization. The agenda will span two halves, presumably focusing on RWAs and generalized financial instruments.
The Commission announced that this discussion would focus on tokenization in March, but the full agenda provides more complete information. It includes a full list of participants, including many prominent firms.
The SEC Talks Tokenization
Since coming under new leadership this year, the Commission has been hosting Roundtable Discussions on topics in the crypto industry. According to a press release, the SEC’s next talk will concern tokenization, featuring representatives from firms like BlackRock, Nasdaq, Fidelity, Robinhood, Securitize, and more.
“Tokenization is a technological development that could substantially change many aspects of our financial markets. I look forward to hearing ideas from our panelists on how the SEC should approach this area,” Hester “Crypto Mom” Peirce, one of the SEC’s Commissioners, claimed.
Over the last few weeks, the SEC has shown an interest in tokenization. In late April, it planned a regulatory sandbox concerning real estate tokenization with counterparts in El Salvador and private firms. The results of this planning session seemed inconclusive; none of its non-SEC participants are scheduled to appear at the Roundtable. Still, it shows interest.
The discussion is split between two main panels: “Evolution of Finance: Capital Markets 2.0” and “The Future of Tokenization.” Both feature participation from some of the major firms involved, with the US ETF issuers primarily speaking on the first panel.
This could potentially suggest a focus on tokenization as a financial instrument for institutional investors. The latter panel involves RWA advocates like Securitize and Robinhood, possibly indicating that it focuses on RWAs. Still, that’s only speculation.
Other than these general outlines, the SEC hasn’t specified which areas of tokenization are its highest priorities. The Commission first planned this discussion in late March, but today’s agenda is the first major update since then.
Trust Wallet surpassed 200 million downloads this year and ranked as the most downloaded wallet globally in March 2025. As more users look for direct control over their digital assets, the company is shifting its focus from simple storage to a broader set of tools for interacting with Web3.
In this interview, CEO Eowyn Chen discusses Trust Wallet’s product direction, the growing role of AI, and what it takes to design accessible tools without compromising on autonomy. She also reflects on her leadership approach and the long-term vision behind the company’s push toward user empowerment.
Eowyn Chen: Being a Web3 companion means showing up for users across every step of their journey—not just storing assets, but helping them safely explore, learn, and engage. The wallet is no longer just a tool; it’s the interface to the future economy. That means abstracting technical hurdles, offering helpful context when users need it, and keeping them protected along the way.
For us, it’s also about values—standing on the user’s side, upholding self-custody, and enabling freedom without compromise. Whether someone is making their first swap or interacting with an AI-powered dApp, the wallet should feel like a trusted guide, not a challenge to overcome.
BeInCrypto: Hitting 200 million downloads and topping March 2025’s global wallet charts is no small feat. What do you believe this milestone says about the direction of user behavior in Web3, and what signals are you paying the most attention to?
Eowyn Chen: This milestone shows that users are increasingly prioritizing autonomy, access, and ownership. Self-custody is no longer just for early adopters—it’s becoming a mainstream expectation.
We’re also seeing strong demand for tools that make Web3 simpler without sacrificing control. That means onboarding must improve, cross-chain interactions must feel seamless, and safety must be embedded into the experience.
At a deeper level, we’re tracking signals beyond just volume: retention, confidence, and the kinds of real-world problems users are trying to solve with Web3 tools. Our job is to listen closely and build with intention, not just scale for growth’s sake.
Eowyn Chen: It’s a fine balance, but an essential one. The ethos of self-custody means putting users in control—but that shouldn’t mean putting them through unnecessary friction. We’re working to abstract away pain points like gas fees, key management, and confusing transaction flows, while still keeping users informed and empowered. Our approach is to blend technical standards (like account abstraction) with intuitive UX and even AI-driven assistance. The goal is to make the complexity feel seamless—so users don’t need to think about what’s under the hood, only that it works, and they’re in control.
BeInCrypto: You’ve spoken about Trust Wallet evolving into something like the “Revolut of Web3.” What does that analogy look like in practice—and how do onramps, token discovery, and scam protection play into that larger ambition?
Eowyn Chen: Think of it as combining the polish and ease of a Web2 fintech app with the freedom and transparency of Web3.
In practice, this means enabling users to move smoothly across experiences: accessing crypto with fiat, discovering real on-chain opportunities, engaging with dApps, and avoiding threats like scams or fake tokens. It’s about building a unified experience where everything—from token discovery to protection to exploration—feels cohesive and trusted.
We’re not trying to replace banks or exchanges, but to offer a self-custody alternative that feels just as seamless and far more empowering.
BeInCrypto: TWT utility is growing beyond governance into a more integrated part of the user journey. What role do you see it playing in strengthening user retention, trust, and community participation in 2025 and beyond?
Eowyn Chen: We’re focused on aligning TWT utility with meaningful user value. That includes areas like supporting gas fees, boosting staking rewards, or unlocking loyalty and referral benefits.
The more TWT becomes part of the everyday user experience—without compromising security or sovereignty—the more it can help strengthen long-term engagement. It’s not about short-term incentives, but creating mechanisms that reward participation, build trust, and reinforce community ownership over time.
BeInCrypto: With AI-powered assistance becoming part of Trust Wallet’s interface, how do you balance the value of helpful automation with the responsibility of preserving user agency and privacy?
Eowyn Chen: We believe AI can enhance self-custody, not replace it. The key is giving users smarter context, not taking decisions out of their hands. Whether it’s flagging a suspicious address, summarizing a transaction, or helping someone troubleshoot an issue, AI should feel like a co-pilot—not a black box.
Privacy is non-negotiable, so we’re building AI in ways that don’t compromise control or expose sensitive data. The vision is a wallet that knows you well enough to help, but respects your boundaries. It’s about trust, transparency, and user-first design at every layer.
BeInCrypto: You’ve led Trust Wallet through volatile markets and deep technical shifts. What has shaped your leadership style most—and how do you keep your team aligned with a long-term mission when the industry often rewards short-term hype?
Eowyn Chen: Resilience, clarity, and values. This industry moves fast, but we’ve seen time and again that chasing hype doesn’t build lasting trust.
What grounds me is staying close to our users and our mission: to empower people with ownership, access, and opportunity. I try to lead with transparency—sharing both our ambitions and our challenges—and to create space for builders to experiment without losing sight of why we’re here.
The best ideas often come from people who deeply care, so part of leadership is protecting that space while still moving decisively.
BeInCrypto: Looking ahead, what would success look like for Trust Wallet not just in terms of users or revenue, but in terms of reshaping how people interact with digital value every day?
Eowyn Chen: A big part of success means users don’t even have to think about the word “Web3”—they just do what they need to do, confidently and securely. Whether it’s sending money to family, collecting rewards, securely storing their crypto assets, or interacting with a digital ID, their wallet handles it naturally.
We want to help make self-custody the default experience—not just for crypto, but for digital value in all forms.
If we’ve done our job right, users will feel more empowered, more connected, and more in control of their digital lives—not just because of Trust Wallet, but because of what it enabled them to do.
Bitcoin recently broke above the $111,000 mark, setting a new all-time high. However, data across major exchanges suggests that traders are growing increasingly wary of a sustained rally.
CoinGlass data indicate that over 53% of Bitcoin positions are currently short, meaning a majority of traders are betting on a price drop. By contrast, just 47.43% of active positions are long.
Most Traders Turn Bearish Despite Bitcoin’s Recent All-Time High
The pattern is mirrored on Binance, where short trades make up 54.05% of open interest, compared to 45.95% for longs.
The sentiment shift is reinforced by the latest move from prominent crypto whale James Wynn, who reversed his bullish stance after a multi-million dollar loss.
The trader closed his long exposure at a loss of $13.39 million, with liquidation unfolding in under an hour on May 25.
He has since opened a short position of 3,523 BTC—valued at approximately $377 million—at an entry price of $107,128. The new trade carries a liquidation threshold near $118,380.
James Wynn Bitcoin Bet on Hyperliquid. Source: X/EmberCN
Market analysts have suggested that Wynn’s pivot reflects broader signs of exhaustion in the current bull cycle.
According to blockchain analytics firm Alhpractal, short-term holders (STHs) have begun distributing coins. Historically, a decline in STH supply often signals that Bitcoin is approaching a local top.
The firm noted that the Short-Term Holder Realized Price currently stands at $94,500, which is the last strong support before losses set in.
Alphractal stated that while Bitcoin previously hit record highs under similar conditions in 2021, it warned that the current cycle may be nearing exhaustion.
It added that several macro indicators and historical halving trends point to a possible correction after October 2025.
