Crypto Biz: SpaceX fuels tokenization’s next boom
Tokenization remains a strong growth area despite volatile crypto markets. Active tokenized RWAs have surged sharply this year, led by bonds, money market funds, tokenized stocks, and precious metals, while traditional firms are also expanding blockchain-based financial products. Kraken highlighted the trend by offering eligible users in over 110 markets tokenized access to SpaceX’s IPO through xStocks, with 1:1 backed SPCXx tokens tradable around the clock. In another sign of shifting crypto activity, prediction markets overtook onchain gambling in Q1 2026, reaching $36.6 billion in volume versus $14 billion for gambling. Separately, former FTX CEO Sam Bankman-Fried formally requested a presidential pardon from Donald Trump while continuing to appeal his fraud conviction and 25-year sentence.
