Coinbase fears tokenization rival Securitize, says Citron Research

Core Viewpoint - Cantor Equity Partners II (CEPT) experienced a stock increase following Citron Research's support for Securitize and criticism of Coinbase's withdrawal from crypto market structure legislation [1][4]. Group 1: Company Developments - Securitize has issued over $4 billion in tokenized assets and possesses the necessary licenses to offer tokenized securities, positioning it to benefit from clearer regulatory rules [2]. - CEPT shares rose by as much as 10% after Citron's endorsement but later settled at a 2.2% gain [4]. Group 2: Industry Dynamics - Citron Research highlighted a competitive struggle between Coinbase and emerging Wall Street players, framing it as a conflict involving major entities like BlackRock [3]. - Coinbase's withdrawal from supporting the legislation was attributed to concerns that it would "de facto ban" tokenized equities, leading to a cancellation of the Senate Banking Committee's markup on the crypto market structure [4].