Binance’s bStocks are the second largest tokenized stock issuer just two months after launch, and BitMart’s internal feud erupts into the spotlight ahead of its closure
BitMart’s official Chinese-language X account has publicly demanded that founder Sheldon Xia explain the whereabouts of user funds and produce a repayment plan.
It said some users were unable to withdraw funds and some employees have not received their final salary or compensation and threatened Xia that if he does not provide a verifiable asset disclosure and repayment plan by the deadline, it would continue to submit evidence to regulators, law enforcement, lawyers and the media.
Xia called the claims in the post “fabricated rumors” and promised a counter-attack.
“We have collected full evidence of the content on X, all of which is fabricated rumors. During daytime US time, we will file a police report and send a lawyer’s letter to X, demanding technical and data forensics,” Xia said.
Binance bStocks have overtaken xStocks to become the second-largest tokenized stock issuer by value less than two months after launch.
BStocks reached about $624 million on Aug. 3, surpassing xStocks at roughly $579 million but trailing Ondo Finance at about $927 million, according to Token Terminal data.
The issuer landscape has shifted sharply as the tokenized stock market has grown. A year earlier, xStocks led with $40.7 million, followed by Robinhood at $37.2 million, while Ondo held about $65,000. The total value tracked by Token Terminal has since surged from roughly $80 million to about $2.7 billion.
Suspected North Korean IT workers joined a fake crypto startup — without realizing their every move was being tracked to extract valuable intel. Cointelegraph came along for the ride.
Suspected DPRK IT workers pitch for venture capital backing from the fictitious Definitive Communications, played by Cointelegraph. Source: ANY.RUN
Israel’s Bank Leumi will become the first local bank to offer crypto trading, after partnering with Galaxy Digital to let customers trade Bitcoin, Ether and Solana through the bank’s investment platform from early 2027.
The companies said Friday that customers of Leumi and Pepper, its mobile banking arm, will be able to buy, hold and sell the three cryptocurrencies through a dedicated section of the Leumi Trade app.
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