Morning Minute: Tokenized Stock Venues Are Launching Without Big Tech’s Approval

GM!

Today’s top news:

• Crypto majors resume slide; BTC at $72.8k
• MSCI confirms it will remove MSTR from its Index on Nov 30; MSTR -7%
• Jensen Huang odds of removal surge to 80% in wake of 2nd affair; NVDA -8%
• Bitcoin core devs disclose 3 patched vulnerabilities from the past year
• Pavel Durov says 1M Gram wallets activated in past few days, calls Gram “ridiculously undervalued”

$78.3k$76.4k$74.5k$72.5k

24h HighHigh$74,695

24h LowLow$72,715

VolVol$1.0B

Market projectionsOdds by Myriad

🏛️ OKX’s Tokenized Stock Venue Launches Without Big Tech

In September, after the CLARITY Act died in the Senate, the SEC created an innovation exemption letting venues trade tokenized versions of US stocks without waiting for new legislation. It came with one condition. A company that doesn’t want a third party minting tokens of its shares can object in writing within 30 days, and that’s the end of it.

Companies have been objecting ever since. The count at the OKXICE venue went from 22 in October to 50, then 56, and as of its November 5 notice, 67. Every member of the Magnificent Seven is on that list.

OKXICE is launching anyway, on November 23. The venue will list more than 70 assets, though 59 of them are Direxion ETFs. The individual stocks that made it through are Coinbase, Circle, Robinhood, Strategy, BitGo, Securitize and Better.com. Strategy is also tokenizing its preferred shares.