RT Ignas | DeFi (@DefiIgnas)These crypto IPOs are no fun:Bitgo, Ledger, Bullish, Kraken, Gemini, Consensys, even Certik...Zero upside for crypto natives. I used Ledger, where is my airdrop? lol I only got my private data leaked.Seriously, Galaxy at least tokenized $GLXY after IPO - that's the crypto spirit.Make onchain amazing. ...

@krakenfx Catch the replay$XRP $BTC $ETH $HBAR $SOL $LINKhttps://t.co/YE6tXxF8qG ...

Spacecoin has announced its SPACE airdrop plans: for Season 1, 25% of the tokens are unlocked at the TGE, with the remaining portion released monthly over the following three months; Season 2 begins one month after TGE, unlocking 33.3% each month for three consecutive months. Additionally, Spacecoin is offering a limited-time staking program with a 10% APR. The project recently entered into a strategic partnership with WLFI, and the SPACE token is now listed and available for trading on major exchanges incl ...

Core Viewpoint - Major cryptocurrency exchanges are competing to launch tokenized stock trading services that track U.S. stock performance, creating an unregulated parallel market outside U.S. oversight [1][2]. Group 1: Market Dynamics - Binance is considering reintroducing stock tokens on its platform, which were previously suspended in 2021 due to regulatory warnings [1][3]. - Other exchanges like OKX, Kraken, and Bitget are also exploring tokenized stock services, with Kraken's stock token product gaining traction after acquiring Backed Finance [1][8]. - The total value of circulating tokenized stocks has reached $915 million, a 19% increase from the previous month, while the total market capitalization of S&P 500 stocks is approximately $60 trillion [2][8]. Group 2: Trading Characteristics - Tokenized stocks allow trading of shares like Apple and Nvidia through overseas exchanges, even when U.S. markets are closed, and support anonymous transactions [1][9]. - Trading volume for tokenized stocks remains low, with a concentration on a few companies such as Tesla and Nvidia; for instance, Tesla's tokenized stock had a trading volume of $12 million compared to $29 billion on the Nasdaq [2][8]. Group 3: Regulatory Environment - U.S. regulators have not yet clarified how to regulate tokenized stocks, which are issued by third-party entities like xStocks and Ondo Finance, and are not actual shares [3][10]. - The New York Stock Exchange and Nasdaq are planning to allow tokenized stock trading, which could enhance settlement speeds [10]. - Coinbase is advocating for modifications to legislation to expedite the market entry of tokenized stocks by seeking exemptions from certain SEC regulations [4][10]. Group 4: Risks and Challenges - The anonymous nature of tokenized stock trading raises concerns about insider trading and market manipulation, as the low trading volume makes such activities easier [5][11]. - The design of tokenized stocks aims to track specific stock prices, but discrepancies often occur, and investors face risks related to the issuing entities' financial stability [11]. - Companies like Superstate and Securitize are attempting to obtain corporate authorization to convert actual stocks into tokenized versions, but progress has been slow [11].

Company Overview - BitGo, a crypto firm, experienced a nearly 22% drop in share price on its second day of trading on the New York Stock Exchange, closing at $14.50 after debuting at $18 per share [1][2] - The company raised over $212 million at a valuation exceeding $2 billion during its initial public offering [1] Market Context - The decline in BitGo's share price occurred despite a positive performance in broader equities, with the S&P 500 gaining 0.03% and the Nasdaq rising by 0.28% on the same day [2] Company Background - BitGo was founded in 2013 by CEO Mike Belshe and CTO Ben Davenport, originally based in Palo Alto, California, and has recently relocated to Sioux Falls, South Dakota [2] - The company played a significant role in launching Wrapped Bitcoin (WBTC) in 2019, an ERC-20 token that facilitates Bitcoin liquidity on the Ethereum network [3] Market Developments - Other crypto companies are preparing for initial public offerings, including KRAKacquisition Corp., linked to the crypto exchange Kraken, which plans to offer 25 million Class A shares at $10 per share [4] - KRAKacquisition has not yet selected a target for its merger but was formed in partnership with Kraken and venture capital firms Tribe Capital and Natural Capital [4]

Core Viewpoint - Major cryptocurrency exchanges are advancing or have launched "tokenized US stocks" products to provide global users with exposure to US stock prices through cryptocurrency [1] Group 1: Companies Involved - Binance and OKX are evaluating the re-launch or initial launch of tokenized stock products [1] - Kraken and Bitget have gained market attention in the tokenized stock sector [1] - Decentralized platforms like Jupiter are also participating in this market [1] Group 2: Market Infrastructure - Key players in the tokenized stock issuance and infrastructure include Ondo Finance and Kraken's xStocks [1]

These crypto IPOs are no fun:Bitgo, Ledger, Bullish, Kraken, Gemini, Consensys, even Certik...Zero upside for crypto natives. I used Ledger, where is my airdrop? lol I only got my private data leaked.Seriously, Galaxy at least tokenized $GLXY after IPO - that's the crypto spirit.Make onchain amazing. ...

According to The Information, major crypto exchanges including Binance and OKX are exploring or advancing plans to introduce tokenized U.S. stock products, seeking to provide global users with price exposure to U.S. equities through crypto-based tokens. In the current market, key issuers and infrastructure providers for tokenized stocks include Ondo Finance and Kraken’s xStocks. https://t.co/izRIDk0KuD ...

🇦🇷 Kraken en Argentina 🇦🇷We’re expanding in the region 🌎Para contenido local, guías educativas y novedades del mercado argentino, seguí a @KrakenFX_AR 👇https://t.co/HvGdkXUbFi ...

Just added to the roadmap ✨$HSK powers @HSKChain, the public blockchain for finance and RWA assets, offering security, high-performance & low cost to empower global finance.Coming soon 👀See what's next → https://t.co/mpsBpT3T1JGeographic restrictions may apply https://t.co/x67bpwPWdd ...