Backed xStocks Explained: On-Chain Experiments and Breakthrough Paths in Tokenized EquitiesxStocks tokens are essentially structured as debt instruments (corporate debt) that track the underlying assets, rather than equity tokens. Since issuing debt to track underlying assets does not require custodial licensing, the issuer of Backed’s products is an SPV, which itself does not possess distribution qualifications. Read more: https://t.co/GbiErW484v ...

Partnerships & Listings - xStocks 与 Bitget 合作，在全球范围内上市代币化股票 [1]

Regulatory Stance - SIFMA urges SEC to reject requests for exemptive relief regarding crypto tokenized equities trading [1] - The industry group believes structural changes like tokenized equities trading should undergo proper notice and comment processes [1] - SIFMA argues against immediate no-action relief for such changes [1]

Core Viewpoint - OpenAI has clarified that the "OpenAI tokens" offered by Robinhood are not actual equity of OpenAI and that there is no partnership or involvement between the two companies regarding this product [1][2]. Group 1: OpenAI's Position - OpenAI stated that any transfer of its equity requires company approval, which was not granted in the case of the tokens offered by Robinhood [1][2]. - The company advised users to exercise caution regarding the tokens, emphasizing that they do not endorse or support the product [2]. Group 2: Robinhood's Initiative - Robinhood announced the launch of tokenized shares as part of a broader initiative involving tokenized equities, staking, and blockchain infrastructure [3]. - A spokesperson from Robinhood mentioned that these tokens provide retail investors with indirect exposure to private markets, facilitated by Robinhood's ownership stake in a special purpose vehicle [3]. Group 3: Market Reactions - Following the announcement of the tokenized shares, Robinhood's stock reached a new all-time high, reflecting positive market sentiment [4]. - KeyBanc Capital Markets raised its price target for Robinhood's stock from $60 to $110, citing innovation and total addressable market (TAM) expansion as key drivers for the upgrade [5]. - Despite the positive outlook, Robinhood shares experienced a slight decline of 1.71% to $96.30 in extended trading on Wednesday [5].

Group 1 - OpenAI has distanced itself from Robinhood's offering of tokenized shares, clarifying that these "OpenAI tokens" are not actual equity and that they did not partner with Robinhood [1] - OpenAI emphasized that any transfer of its equity requires approval from the company, which was not granted in this case, and advised users to exercise caution [1] - Robinhood launched the tokenized shares as part of a broader product showcase, which contributed to a surge in its stock price, reaching an all-time high above $100 [1] Group 2 - A Robinhood spokesperson stated that the tokens provide retail investors with indirect exposure to private markets, facilitated by Robinhood's ownership in a special purpose vehicle [2]

Financial industry group pushes back on tokenized equities, urges SEC to reject crypto firms' exemptions https://t.co/YV1pcDuLDi ...

Today, shares of Robin Hood reversed course after surging to a new all-time high as the retail trading app's new crypto offerings seemed to oppress Wall Street and Circle's Dante Desparte discusses how the stablecoin issuer is moving forward on its mission to bring the tokens into the Trafi world. Welcome to CNBC's Crypto World. I'm Talia Kaplan.Crypto prices in the red as we kick off the month and the second half of the year. As of noon Eastern, Bitcoin dipped to the $15,000 level. Ether fell 2% but still ...

robinhood deploying on arbitrum instead of base tomorrow hits different than the $HOOD vs $COIN chart.orbit chain + $ROBIN yield = real tokenized equities playnot priced in yet. ...

Core Insights - Coinbase Global Inc. (COIN) primarily generates revenue from transaction fees, which account for over 50% of its total revenue and are closely linked to trading volumes [1][4] - Transaction revenues rose 18.2% year-over-year to $1.3 billion in Q1 2025, driven by a 26% increase in trading volume [2] - The company anticipates a decline of $30 million to $40 million in institutional transaction revenues for Q2 2025 [2][8] Revenue Growth and Market Position - The increase in crypto trading activity, fueled by the adoption of Bitcoin ETFs and tokenized assets, is enhancing COIN's transaction-based income [3] - Coinbase is investing in foundational infrastructure, such as its Layer 2 Ethereum scaling solution, Base, to support long-term growth and improve crypto utility [3] - The platform has expanded its asset offerings by launching tokenized equities on Base, contributing to its revenue growth [3] Competitive Landscape - COIN competes with Robinhood Markets and Interactive Brokers, both of which also rely heavily on transaction revenues from active trading [5][6] - Robinhood's transaction revenues, which make up over 60% of its total revenues, are sensitive to market fluctuations and retail investor behavior [5] - Interactive Brokers benefits from high-margin commission-based transaction revenues, demonstrating strong operating leverage [6] Financial Performance and Valuation - COIN's shares have gained 1.2% year-to-date, outperforming the industry [7] - The company trades at a price-to-earnings ratio of 45.5, significantly above the industry average of 18.72, indicating an expensive valuation [10] - The Zacks Consensus Estimate for COIN's EPS has decreased by 47.1% and 37% for Q2 and Q3 2025, respectively, while estimates for full-year 2025 and 2026 have increased by 52.3% and 16.7% [11][12]