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Crypto

Not all SpaceX investors are shareholders: The pitfalls of tokenised stocks

SpaceX’s initial public offering has highlighted structural differences in the tokenised stock market. Products marketed as SpaceX investments vary widely in whether investors own shares, have redemption rights, or receive shareholder protections. Some tokens are backed one-for-one by custody-held shares and can be redeemed by eligible investors. Others track the stock price without legal claims, voting rights or guaranteed share collateral. Perpetual futures add further price divergence without redemption mechanisms.

Crypto

Binance to end NFT service on July 3; assets not withdrawn by deadline to be inaccessible

Binance will end its centralised NFT service effective July 3, 2026. NFTs not transferred before 11:59 p.m. on July 3 will become inaccessible on the Binance platform. Non-transferable NFTs, including Binance Academy certificates, will be replaced with PDF certificates. To encourage early transfers, Binance will refund fees to up to 100,000 users who move eligible NFTs to Binance Wallet between June 3 and 17, with 1 USDC paid by July 3.

Crypto

Binance hints at new stock investment product, raising possibility of expanding tokenised securities

Binance has signalled it may launch a new stock investment-related product, drawing attention to the potential expansion of the tokenised stock market. A post featuring a “Haystack” image led some to read it as “Hay Stock” and speculate about a stock service. A research account suggested a combination involving Ondo Finance and Binance’s BStocks, though Binance has not disclosed details. Tokenised stock trading volumes have hit records.