Tom Farley

Husband & father of 3. CEO of @Bullish; Formerly President of the @nyse.
@georgetown alum, hometown Bowie, MD

[Tom Farley @ThomasFarley]

Very much appreciate my daughter Maggiehausen having her favorite @wwe wrestler @DanhausenAD wishing her a happy graduation and uncursing her favorite @nyknicks player Mitchell Robinson. Feel good about Game 2.

[Tom Farley @ThomasFarley]

Talked tokenization with @carlquintanilla, @LesliePicker, and @davidfaber. Issuer-native tokens are the future. Born on-chain, not wrapped after the fact. Stop with the synthetic token madness. Watch the clip.

[Tom Farley @ThomasFarley]

On @SquawkStreet this morning, they asked my thoughts on the current regulatory regime and I answered plainly: with @ChairmanSelig and @SECPaulSAtkins, innovation is finally being allowed to flourish. I have not seen anything like it before.

[Tom Farley @ThomasFarley]

Asked about the CLARITY Act on @SquawkStreet today. Leaders like @Sen_Alsobrooks and @RubenGallego are the reason it's moving but the crypto crowd needs to get in line and stop the whining and push it right now.

Crypto is helpful to under-served communities and now is the time to get this done.

[Tom Farley @ThomasFarley]

Took the day off from tokenization and watched men’s (IRA) and women’s (@NCAA) college rowing championships. Winning boats (UW on men’s side and Texas on women’s side) had 18 rowers and a grand total of 2 Americans. It seems odd to me that we give U.S. colleges federal funding and then they give scholarships almost exclusively to foreign kids which prepares them for the Olympics to beat us. How about a limit of 50pct of the boat so we develop more Americans? Ps. Congrats to UW and Texas, great wins and great kids (including American Phoebe Wise)

[Tom Farley @ThomasFarley]

@Vertalo_ Yeah I’m just a slow learner. Sounds like you were there way before!

[Tom Farley @ThomasFarley]

I’ve spent time in DC over the past three weeks and there is a growing consensus that Issuer-sponsored Native Tokens are the only responsible way forward and the synthetic tokens we’re hearing about would cause confusion and fragmented liquidity. This is great news for those who want to see the global securities market move to blockchain technology.

[Tom Farley @ThomasFarley]

@AdriansCryptoo Not that im hearing but we’ll see

[Tom Farley @ThomasFarley]

This took guts by the @CFTC to reverse course. I know this will be a Rorschach Test viewed differently by Dems and Republicans. But the truth is that the lawfare that was waged on many crypto firms (not all!) was absolutely wrong, unfare, unAmerican and in some cases illegal.

[Eleanor Terrett @EleanorTerrett]

According to private texts between Trump’s former CFTC chair pick @BrianQuintenz and @tyler released by Quintenz last year, this was the enforcement action Quintenz refused to take a position on until he was fully confirmed as Chair.

Looks like @ChairmanSelig has sided with the Winklevoss twins in concluding the @CFTC should not have brought the @Gemini case to begin with.

The decision now rests with a judge in the Southern District of New York, who must decide whether sufficient grounds exist to vacate the consent order, a move one legal source characterized to me as “an extraordinary step.”

[Tom Farley @ThomasFarley]

Yeah! What this guy says!

[Securitize @Securitize]

Tokenization gives the people access.

[Tom Farley @ThomasFarley]

I lived the ICE/NYMEX. It actually ended up in the Supreme Court! It is not relevant here though. ICE/NYMEX was a simple question of whether you need permission to use a settlement price used to set margin in a clearinghouse. These tokenization issues are about whether to allow relief from regs for offering single stock derivatives (which the people offering call “tokens”).

[Tom Farley @ThomasFarley]

The SEC realizing that public companies are the only entity who can issue tokens that are a share of stock! Great job delaying and getting this right. I’m very excited about this issuer model. This is the simple and innovative way to revolutionize the markets.

[Bloomberg @business]

Under the Securities and Exchange Commission's proposal, platforms offering tokens would need to guarantee investors receive the same rights as regular shareholders https://t.co/Y9PniGEU5j

[Tom Farley @ThomasFarley]

@Ismail129527715 @Bullish 🤞

[Tom Farley @ThomasFarley]

@davehendricks That makes two of us

[Tom Farley @ThomasFarley]

@finnstr Yeah the idea of 50 different “Nvidia Tokens” on 10 different blockchains with no voting or dividend rights didnt make a whole lot of sense. A single Nvidia token that they authorize as their own share of stock on a blockchain of their choosing on the other hand…

[Bloomberg @business]

Under the Securities and Exchange Commission's proposal, platforms offering tokens would need to guarantee investors receive the same rights as regular shareholders https://t.co/Y9PniGEU5j

[Tom Farley @ThomasFarley]

Commissioner Peirce balancing reason and innovation as usual. Only a public company itself can issue a token that is an actual share of stock. Other parties like brokers can issue tokens that have some tenuous connection to a company’s stock price performance but those are for the yolo retail crowd to punt around. The issuers are being recognized! Good stuff.

[Hester Peirce @HesterPeirce]

If people want to understand what synthetics mean to me in this context, see the staff statement on tokenization, which distinguishes tokenized versions of issuer-sponsored stocks and of stocks that SEC-registered firms hold for their customers from synthetic instruments that provide exposure to stocks. https://t.co/XvVmjndGR5

[Tom Farley @ThomasFarley]

@Bkclaims @fintechfrank Yeah it’s niche. Wellington ain’t gonna hold an IOU of nvidia shares. They’ll just hold the shares.

[Tom Farley @ThomasFarley]

owning an interest in an SPV is not the same as owning the actual stock. This should also be a warning about the difference between wrapped equity tokens and native equity tokens. If you own a wrapped token you do NOT own the actual thing and you are going to deal with these types of ugly situations. Only native tokens allow you to own the actual thing and insulate yourself. And only the company/issuer itself can issue notice tokens!!!

[Tom Farley @ThomasFarley]

@ErintheCyborg I feel like it is only obvious to you and me!

[Tom Farley @ThomasFarley]

This was @wsj