News about OKX

Nine public companies, including Cerebras Systems, AppLovin, Applied Digital, Rocket Lab, CoreWeave, Verizon, Applied Optoelectronics, Broadcom and UnitedHealth Group, have objected to their shares being offered as blockchain tokens on a proposed platform backed by OKX and Intercontinental Exchange, according to a notice from the two firms, which gave no reasons. The joint venture, co-chaired by former New York Governor Andrew Cuomo, filed with the SEC on October 4 under the September 17 Innovation Exemption, which lets qualifying venues trade tokenized securities without registering as traditional exchanges. The proposal names more than 60 companies, including Nvidia, Tesla, Apple, Microsoft, Coinbase and Robinhood, with trades settled in stablecoins on OKX's XLayer blockchain after identity and sanctions checks. Companies have 30 days to object, and any objection stops the venue from listing that company's tokenized shares.

Nine listed companies, including Cerebras Systems, AppLovin, Broadcom and UnitedHealth Group, have formally objected to their shares being offered in tokenized form on a proposed platform backed by OKX and Intercontinental Exchange (ICE), parent of the NYSE, according to a Thursday notice from the two firms. The notice did not give a reason. Under the SEC's Sept. 17 innovation exemption, tokenized venues must give issuers written notice and a chance to object before listing third-party tokenized stocks. Analysts quoted say issuers worry about price effects once shares trade on-chain, and that the objection targets tokenization without consent rather than tokenization in general. OKX had not responded to Cointelegraph's request for comment by publication, while more than $754 million has moved onchain in the past 30 days, lifting stablecoin and tokenized asset totals to $320 billion.