GoKawiil
Tech News
OKXICE, the joint venture between OKX and Intercontinental Exchange, has added Intel, Oracle, IBM and IonQ to its public notice of companies declining to have their shares tokenized, bringing total objections to 26. That means roughly 37% of companies on OKXICE's original list have opted out, following earlier objectors like Microsoft, Alphabet, Goldman Sachs, Cisco and Wells Fargo.
Several major public companies have told a crypto trading platform to stop offering tokenized versions of their shares without authorization. The companies named include Microsoft, McDonald's and Verizon, who pushed back against the practice of issuing blockchain-based tokens meant to track their stock prices.
Bitwise's latest quarterly report shows tokenized stock trading rising sharply on platforms like Robinhood Chain, Hyperliquid and Solana, with Robinhood Chain's volume jumping from $526 million in July to $11.31 billion in September. At the same time, Goldman Sachs, Microsoft, Qualcomm, Caterpillar, McDonald's, Western Digital and Alphabet have formally objected to having tokenized versions of their shares traded on OKXICE, a venue launched by OKX and Intercontinental Exchange, joining earlier objectors like CoreWeave and UnitedHealth.
Bitcoin rose 37% over 39 days to reach an eight-month high near $86,000 on Monday, according to Yahoo Finance. The rally followed Congress's failure to pass a crypto 'Clarity Act' and the SEC's announcement of a five-year 'innovation exemption' allowing tokenized U.S. stocks to trade via automated market makers on public blockchains, per CoinDesk.
After the Clarity Act failed to advance in the Senate, the SEC issued an order creating a temporary pathway for trading tokenized stocks, and the CFTC submitted a crypto rulemaking proposal to the White House for review the same day. Details of the CFTC proposal have not been made public, though the Office of Management and Budget confirmed it is pending review.
A group of U.S. senators has asked the Federal Trade Commission to investigate whether shopping bots and AI systems used by Walmart and Amazon are misrepresenting products as 'Made in America.' The request comes alongside other regulatory shifts, including a U.S. regulator giving tokenized stocks initial approval and credit card firms building AI agents to handle consumer purchases on shoppers' behalf.
The SEC issued an order Thursday creating an immediate regulatory pathway allowing certain trading venues to offer tokenized versions of publicly traded U.S. stocks. The five-year exemption requires token holders to retain the same rights as traditional shareholders and lets companies object to having their securities tokenized. The move follows the Senate's failure to advance the Clarity Act, a crypto market structure bill, two days earlier.
Robinhood CEO Vlad Tenev defended his company's tokenized stock products, arguing that once a company goes public, other firms can build financial instruments referencing its shares without needing the issuer's permission. This follows AMC CEO Adam Aron's public criticism that Robinhood's tokenized AMC shares let the brokerage profit from exposure to the stock without AMC's involvement or consent.