Crypto Biz: Wall Street closes at 4. Tokenized stocks keep trading
Summary
Tokenized stock trading is increasingly taking place outside US market hours: over 70% of BNB Chain volume, 63% on Solana and nearly 60% on Base. Tokenized stock value reached almost $3.3 billion, though major platforms remain largely unavailable to US investors despite an SEC innovation exemption for qualifying offerings. Strive bought 3,311 BTC, lifting its holdings to 32,773, funded largely by $208 million in warrant exercises. Bitcoin miners face high costs to expand into AI and data centers; publicly traded miners may need an estimated $50 billion. A proposed FASB accounting change could let qualifying stablecoins count as corporate cash equivalents, subject to direct redemption rights; public comments are due Nov. 19.
