Binance will distribute dividends for IBM, AAPL, GLW, and LLY via bStocks.
According to an official announcement, Binance will distribute dividends in the form of corresponding tokenized securities to users holding balances of IBMB, AAPLB, GLWB, and LLYB. These tokens represent IBM, Apple, Corning, and Eli Lilly respectively. After deducting withholding taxes, fees, and other charges, the net cash dividend will be reinvested into additional units or fractional shares of the same underlying securities, and users will receive their dividends in token form. For users holding the relevant tokens on-chain, dividends will be issued via a multiplier adjustment. The snapshot times (East Eight Zone Time) are as follows: 08:00 on November 10 for IBMB holdings, 08:00 on November 12 for AAPLB holdings, and 08:00 on November 13 for GLWB and LLYB holdings. The announcement notes that bStocks represent the equity interest in the relevant securities held by the issuer, and do not constitute direct ownership of the underlying shares.
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Lombard Systems completes $4 million seed round financing, led by Ethereal Ventures.
Lombard Systems (formerly SemiLiquid) announced the completion of a $4 million seed funding round, led by Ethereal Ventures, with participation from ALPS Capital, First Commit, Veris Ventures, and ATKA. Lombard Systems provides financing infrastructure for tokenized securities and maintains the "Delivery vs. Locked" (DvL) standard. The standard allows banks, brokers, and transfer agents to accept tokenized assets and digital assets as collateral without moving assets out of their original securities accounts: assets remain locked in the owner’s name, while lenders obtain enforceable security interests proven via cryptographically signed credit instruments.
4 minutes ago
Sources: Current liquidations among U.S. equity hedge funds will hit their highest level since 2009.
FOX reporter Charles Gasparino published a report noting that, per a chief executive at a financial services firm, more hedge funds are being forced out during the current U.S. stock market downturn, hitting the highest level since 2009. "This is necessary; more pain is required to prepare for a market bottom," the executive said.
4 minutes ago
During yesterday's market crash, Hyperliquid's priority fee hit an all-time high.
Hyperliquid’s priority fees reached $521,000, hitting an all-time high, while this revenue stream also accounted for a record 12.7% of the platform’s daily total income. Priority fees refer to additional payments users make to validators or protocols to have their transactions processed first amid intense market competition or network congestion. Yesterday, coinciding with a historic plunge in US stocks, on-chain liquidation bots, arbitrageurs, and ordinary traders all scrambled for transaction processing priority to execute their intended operations faster amid the extreme market conditions.
4 minutes ago
Uniswap launches permissioned assets for the first time, with GromaCorp introducing real estate issuance and redemption to AMMs.
Uniswap tweeted that it has listed permissioned assets on Uniswap AMM for the first time. Groma Corp has integrated real estate issuance and redemption directly into the AMM via the Permissioned Pools Hook. The official stated that Groma Corp’s tokenized securities are only accessible to US qualified investors and non-US users. Earlier reports noted that Uniswap launched the Permissioned Pools Hook, enabling permissioned asset trading through automated market makers (AMMs) with compliance enforced directly on-chain. Permissioned asset pools are built in collaboration with on-chain asset management teams.
4 minutes ago
The sharp plunge in the US stock market may stem from hedge fund liquidation, with market expectations that multiple funds are undergoing full liquidation.
In response to yesterday's U.S. stock market plunge, most Wall Street traders and analysts attribute the main cause not to fundamental deterioration, but to hedge fund liquidation. Noel Smith, co-chief investment officer at Kai Asset Management, said: "A decline of this magnitude without major market news is extremely rare. This reeks of liquidation."
Besides Bloomberg's report last night that multi-strategy hedge fund Walleye Capital will streamline its internal equity long-short business, the market widely expects several funds are undergoing full liquidation, or "pods" (independent investment teams) within multi-strategy funds are being forced to close out positions. According to a list released this morning by leading financial research community Special Situations, multiple hedge funds are facing distress, including Axebrook, Walleye, Engineers Gate, Lone Pine, Millennium internal pods, Verition pods, and Samlyn, mainly involving large redemptions, internal team closures, or portfolio manager (PM) replacements.
Notably, during the U.S. stock market's major turmoil in July this year, AI hedge fund Situational Awareness also experienced a similar incident: its assets shrank by 67%, and it subsequently reached an emergency exit deal with Citadel, selling most of its public stock holdings at a discount.
4 minutes ago
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