Robinhood Engages with European Regulators on Tokenized Stocks
On July 8th, as per Bloomberg, Vlad Tenev, the CEO of Robinhood Markets Inc., stated that the company is in communication with regulators regarding its tokenized stock product launched in Europe. This product has previously drawn criticism from multiple companies, including OpenAI.
The California-based company announced last week that retail investors in the European Union can now trade blockchain tokens representing U.S. stocks through its app. This launch also encompassed tokens for privately held companies like OpenAI. However, Sam Altman-led OpenAI later reminded traders that these "tokens" do not represent equity in the company.
The brokerage is facing inquiries from regulators, such as the Bank of Lithuania, regarding the structure of these tokens and whether they blur the line between actual equity and derivatives. The Bank of Lithuania has confirmed having reached out to Robinhood for more details.
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OpenSea Acquires Rally, Expanding Its Presence in Mobile and Token Trading Space
On July 8th, as reported by The Block, OpenSea has acquired Rally. Rally is the developer of the Rally wallet and the mobile-first Web3 application experience. This acquisition is intended to enhance OpenSea's expansion into the token trading domain. Currently, the platform supports 19 blockchains.
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Vertex will gradually phase out the native token VRTX and will migrate its DEX to the L2 network Ink supported by Kraken
On July 8th, according to The Block, Vertex Protocol, a decentralized exchange platform based on Arbitrum (which focuses on perpetual contracts and money markets), will gradually cease its existing EVM deployment and exclusively reconstruct its DEX on the L2 network, Ink, which was hatched on Kraken.
The Ink Foundation will acquire Vertex's engineering team and its trading technology architecture, including a synchronous order book, perpetual contract engine, and money market code. The Foundation's board indicated that this move will expedite its goal of building an "open on-chain capital market."
As part of this migration, Vertex developers will also gradually phase out its native token, VRTX. An official snapshot is scheduled for July 8th (Tuesday) to determine which VRTX holders are eligible for the Ink airdrop - they will receive 1% of the initial supply of Ink and will have priority in participating in subsequent incentive programs. Meanwhile, unreleased VRTX tokens and tokens i
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Former Ripple Investor Linqto Files for Bankruptcy Restructuring
On July 8th, as per Cointelegraph, Linqto is a private investment platform that enables investors to purchase shares of pre-IPO companies. The company has submitted an application for Chapter 11 bankruptcy protection within the Southern District of Texas.
According to the disclosures, Linqto holds 4.7 million shares of Ripple that were acquired through the private market. This bankruptcy filing occurred shortly after Ripple CEO Brad Garlinghouse's statement last week. In that statement, he clarified that although Linqto holds 4.7 million shares of Ripple's secondary market stock, there is no business relationship between Linqto and Ripple.
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Aevo has launched the Aevo Degen platform, supporting 1000x leverage trading of US stocks, with COIN, HOOD, and CRCL now available.
July 8th. As per official channels, Aevo has declared the commencement of Aevo Degen, a platform that enables 1000x leveraged trading of US stocks. This platform now offers the ability to take long or short positions on the following stocks: Coinbase (COIN), Robinhood App (HOOD), and Circle (CRCL). Additional trading pairs will be made accessible in the near future.
Aevo Degen functions within the intraday market and only conducts trades during the opening hours of the US stock market. All positions will be automatically closed at the conclusion of each trading day.
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xStocks will be integrated into the upcoming Jupiter Lend.
On July 8th, according to official channels, Jupiter Exchange has become a member of the xStocks Alliance and is jointly committed to achieving financial democratization. Jupiter gathers a liquidity pool and RFQ from Solana to achieve unrestricted access and a smooth user experience. It now also supports stock tokenization.
The xStocks will be integrated into the upcoming Jupiter Lend, releasing liquidity for users, achieving capital-efficient borrowing and lending, and creating market-driven returns.
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