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I'm jealous that EU people are going to get some spaced or OpenAI stock…. That would have been super super cool….
Private company access is the only sensible use case for this grift.
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Haha not feeling tokenized stocks?
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40 sats \ 3 replies \ @Cje95 17h
I have to say I love the idea of them. I might be in the minority with this but until then stock market goes 24/7 there is going to be a demand
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88 sats \ 2 replies \ @grayruby 17h
24/7 trading will be highly illiquid during non traditional trading hours. It will be great for whales who can push the price around not so much for retail.
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194 sats \ 1 reply \ @Cje95 3h
I've bounced back and forth on that because we are seeing such an increase in AI and algorithmic trading that its possible that sooner than we think a lot of trades might be able to be executed without humans behind the wheel so to speak.
I think of the app that invests like Nancy Pelosi for example. You just feed the app money and it executes trades for you.
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Fiat has made the world a casino.
60 sats \ 5 replies \ @grayruby 17h
How does the token give you legal right to the underlying equity? How do I exercise that legal right when there is some hack?
To me it is just price exposure.
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You've never had legal right to the underlying equity. Even on the traditional stock market, the shares are vested in the name of the Depository Trust Company.
All you own is a fancy IOU
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10 sats \ 2 replies \ @grayruby 11h
You absolutely have a legal claim in bankruptcy proceedings. A tokenized equity because it is merely price exposure will just go to zero.
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50 sats \ 1 reply \ @sudonaka 10h
You have no legal claim to securities in bankruptcy. There is already legal precedent established. The Great Taking -David Rogers Webb
"The new safe harbor regime was cemented into case law with the court proceedings around the bankruptcy of Lehman Brothers. In the lead-up to the failure, JP Morgan (JPM) had taken client assets as a secured creditor while being the custodian for these client assets! Under longstanding bankruptcy law this would clearly have been a constructively fraudulent preference transfer benefitting an insider. And so, JPM was sued by clients whose assets were taken.
I will cite the following memorandum filed in defense of JPM by the law firm Wachtel, Lipton, Rosen & Katz, with the U.S. Bankruptcy court of the Southern District of New York [22]:
The purpose of the safe harbors, from their inception, has been to promote stability in large and inherently unstable financial markets by protecting transactions in those markets from being disturbed during a bankruptcy. As explained in the legislative history of the original safe harbor, “the financial stability of the clearing houses, with often millions of dollars at their disposal, would be severely threatened by” exposure to avoidance claims; as well, actions to avoid margin payments made by clearing houses could set off a “chain reaction” of insolvencies among all other market participants, “threatening the entire industry.”
Now here is the decision of the court [23] : UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re: Chapter 11 Case No. 08-13555 The Court agrees with JPMC that the safe harbors apply here,...
These are questions that weren’t 100% clear in the presentation. To mee it seems like they are trying to create De-Fi liquidity to trade outside of tradfi markets.
So wouldn’t call it real innovation plus it’s all still dollar based it’s not based on sats or some other shitcoin token.
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106 sats \ 3 replies \ @Cje95 17h
Lol I'm not saying your wrong….. I'm just sayin dammit I want that stock 😂
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46 sats \ 2 replies \ @grayruby 17h
You don’t get the stock though. You get a token that represents price exposure.
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30 sats \ 1 reply \ @Cje95 17h
According to the presentation you can get the stock if you want. You burn the token.
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I would have to have a brokerage account in order to get the stock. If I have one I don’t need a token in the first place.
Just another stupid crypto marketing gimmick. And people wonder why bitcoin adoption has stalled when crypto is constantly pumping out new schemes to try and rip people off.
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Yup American companies. Yet Americans gotta wait
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107 sats \ 0 replies \ @Cje95 17h
Republic is about to start offering SpaceX via their platform which I think has really flown under the radar. Republic was in my eyes the first and really only place to let anyone tap these markets.
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