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Tokenization firm Libre announced plans to launch a $500 million Telegram Bond Fund (TBF) on the TON blockchain.

The move signifies a bold move to bridge traditional finance (TradFi) and decentralized ecosystems.

Libre To Launch $500 Million Telegram Bond Fund

TBF marks a significant milestone in the growing trend of real-world asset (RWA) tokenization, backed by over $2.35 billion in outstanding Telegram bonds.

It tokenizes existing Telegram debt, giving accredited investors access to institutional-grade fixed-income products with full on-chain utility.

With Libre’s initiative, the tokenized bond fund can serve as collateral for borrowing and on-chain product development within TON ecosystem. TON, or The Open Network, is increasingly integrated with Telegram’s 950 million-plus user base.

“What we’ve created is like a fixed income fund that acquires the bonds and then we tokenize the fund,” Libre CEO Avtar Sehra said in an interview.

Reportedly, when users purchase units in Libre’s Telegram Bond Fund on the TON chain, they can access the returns of the underlying bonds themselves.

Based on this dynamic, they can use the bonds for collateral and ease transfers. Ultimately, the bonds also help create utility with these financial instruments.

This development comes amid growing interest in Telegram’s yield bonds, whose structure bears a relatively high yield of up to 9.4%.

Meanwhile, this is not the first time Libre has ventured into this space. The tokenization firm recently tokenized over $200 million in assets across major institutional funds.

Among them are BlackRock, Brevan Howard, Hamilton Lane, and Nomura’s digital assets unit, Laser Digital.

Libre Bets on Telegram’s Unique Distribution Advantages

The launch of TBF comes amid a broader wave of RWA tokenization initiatives. Notably, asset management giant Franklin Templeton recently expanded its presence in the space by launching a tokenized money market fund on the Solana blockchain.

Much like Libre, Franklin Templeton is leveraging blockchain rails to modernize access to traditional yield-bearing assets. At the same time, the asset manager is enabling on-chain programmability and composability.

However, Libre’s decision to build on TON reflects a strategic bet on Telegram’s unique distribution advantages.

While Telegram originally developed it, TON blockchain is now a standalone project. However, it still retains deep integration with the messaging platform.

Over the past year, the network has introduced a series of crypto-native features aimed at mass adoption. One of the latest is a TON Space wallet update allowing users to pay gas fees with Telegram Stars. This move lowered the friction for interacting with blockchain-based assets.

This seamless connection between messaging and finance is central to Libre’s long-term vision. Sehra noted that many clients seek exposure to financial products embedded within ecosystems they already use.

With Telegram as a gateway and TON as the infrastructure, TBF could become a cornerstone of real-world financial integration in Web3.

Despite this report, however, TON TVL (Total Value Locked) continues to decline, down almost 2% in the last 24 hours to $136.2 million. In the same way, Toncoin (TON) price is down by almost 2% in the last 24 hours, and was trading for $3.23 as of this writing.

The post Libre to Bring Fixed Income Products Onchain With $500 Million Telegram Bond Fund on TON appeared first on BeInCrypto.

Japan’s government bond market faces its worst liquidity crisis since the 2008 financial meltdown. This has prompted fears of a broader economic contagion that could ripple into global crypto markets. 

Analysts are sounding the alarm as bond yields surge and long-standing financial structures unravel.

Japan’s Bond Market Crisis Sparks Global Contagion Fears

In just 45 days, Japan’s 30-year government bond yield has surged 100 basis points (bps) to a record 3.20%. Meanwhile, the 40-year bond, previously seen as a “safe” investment, has shed more than 20% in value, with over $500 billion in market losses. 

According to analyst Financelot, liquidity in the bond market has also deteriorated to levels last seen during the Lehman Brothers collapse, suggesting a potential impending financial crisis. 

“Japan’s bond market liquidity has dropped to 2008 Lehman crisis levels. Are we about to experience another financial crisis?” wrote Financelot on X (Twitter).

The crisis traces back to the Bank of Japan’s (BOJ) recent policy pivot. After years of aggressive bond-buying, the BOJ abruptly pulled back, flooding the market with supply and driving yields higher. 

The central bank still holds $4.1 trillion in government bonds, 52% of the total outstanding. With this, its grip on the market has distorted pricing and investor expectations.

Japan’s total debt has ballooned to $7.8 trillion, pushing its debt-to-GDP ratio to a record 260%, more than double that of the US.

The fallout has been swift. Japan’s real GDP contracted 0.7% in Q1 2025, more than double the expected 0.3% drop.

Meanwhile, CPI inflation accelerated to 3.6% in April. Real wages, however, plunged 2.1% year-over-year (YoY), intensifying fears of stagflation. 

“Japan needs a major restructuring,” warned The Kobeissi Letter, highlighting the fragility of the nation’s economic model.

Bitcoin Emerges as a Safe Haven Amid Yen Carry Trade Unwind

As global investors digest these warning signs, attention is turning to the crypto markets, specifically Bitcoin. The pioneer crypto is progressively presenting as a potential refuge from bond market volatility. 

The yen carry trade, a strategy in which investors borrow low-yielding yen to invest in higher-yielding assets abroad, is now under threat.

According to Wolf Street, surging Japanese yields and a weakening economy are squeezing these highly leveraged positions. 

“The huge mess is coming home to roost,” the outlet wrote, noting that the unwind of this trade could trigger a global risk-off event.

That shift is already visible. As yields rise in Japan and the UK, demand for Bitcoin has soared in both regions.

“Is it a coincidence that the UK and Japan are seeing huge demand for bitcoin exposure?” analyst James Van Straten posed. 

The analyst referenced the 30-year UK gilt yield nearing a 27-year high.

Meanwhile, Cauê Oliveira, Head of Research at BlockTrendsBR, also noted a growing positive correlation between bond volatility and Bitcoin flows, with Bitwise’s European Head of Research, Andre Dragosche, agreeing. 

“A lot of big players [are] rotating from bonds to BTC,” Oliveira noted.

BeInCrypto data shows Bitcoin was trading for $109,632 as of this writing, down 0.17% in the last 24 hours.

Still, Bitcoin’s role comes with its own risk. BeInCrypto reported a recent analysis of the yen carry trade, warning that disorderly unwinds could pressure crypto assets alongside traditional markets. This is especially true if a global flight to safety prompts USD strength and capital outflows from risk assets.

Yet, in the long term, Japan’s debt crisis may strengthen Bitcoin’s case as a hedge against monetary instability. As traditional “safe” assets like long-dated sovereign bonds falter, institutions increasingly consider digital assets viable alternatives.

The post Japan’s Liquidity Crisis Sparks Global Risk Fears and Bitcoin Rotation appeared first on BeInCrypto.

Pi Network (PI) is down 14% over the past 30 days, with its market cap falling below $5 billion and the token trading under $1 since May 14.

Technical indicators continue to show bearish momentum, with PI struggling to break through key resistance levels. The Ichimoku Cloud, BBTrend, and EMA lines all point to ongoing weakness and a lack of bullish confirmation. Unless momentum shifts soon, PI may face further downside before any meaningful recovery can take shape.

Pi Network Faces Heavy Resistance

The Ichimoku Cloud shows that Pi Network (PI) remains under strong bearish pressure. The price continues to trade below the red cloud, indicating that downward momentum still dominates.

The Leading Span A (green line) remains below the Leading Span B (red line), reinforcing the cloud’s bearish structure ahead.

The cloud is wide and declining, suggesting that any potential reversal may face significant resistance soon.

The Tenkan-sen (blue line) is flat and hovering close to the Kijun-sen (red line), showing weak short-term momentum and indecision in the market.

Additionally, the price candles are compressed within a narrow range, indicating consolidation with no clear breakout.

The trend remains negative until the price decisively moves above the cloud and the lines flip bullish.

PI BBTrend Stabilizes, But Bearish Conditions Persist

Pi Network continues to show weak momentum, with its BBTrend indicator at -2.21, roughly unchanged over the past two and a half days.

The indicator has remained in negative territory for the last 14 days, with a sharp bearish peak of -18.7 recorded one week ago.

While the recent stabilization suggests the downtrend may be losing strength, PI has yet to show signs of a meaningful bullish reversal.

The BBTrend (Bollinger Band Trend) measures the strength and direction of price movements relative to Bollinger Bands.

Positive values suggest bullish momentum as the price pushes the upper band, while negative values indicate bearish conditions with prices staying near the lower band.

PI’s current BBTrend at -2.21 reflects a mildly bearish stance—less extreme than earlier, but still lacking upward pressure. The indicator must cross into positive territory and hold for sentiment to shift.

PI Breakout Could Trigger 37% Rally

PI price remains in a bearish technical setup, with its EMA lines showing short-term averages below the long-term ones.

This alignment confirms the continuation of a downtrend unless momentum shifts meaningfully.

If bearish pressure builds, PI could retest key support levels, and a breakdown would mark the first time the asset falls below a major historical threshold—intensifying downside risk.

However, if buying pressure strengthens, PI could test resistance at the next significant EMA zone.

A successful breakout above that level, backed by strong momentum, could open the door for a broader recovery.

In a bullish scenario, PI may climb toward higher resistance targets, offering a potential upside of over 35%.

The post Pi Network Indicators are Still Bearish – Is There Any Chance for PI Recovery? appeared first on BeInCrypto.