Thursday links: Blockchain stocks, barroom compliance and NFT treasuries
Main Idea
The article discusses various developments in the blockchain and cryptocurrency space, including tokenized stocks, regulatory updates for stablecoins, market manipulation in memecoins, and innovative financial instruments like NFT treasuries.
Key Points
1. Figma's S-1 filing mentions issuing equity in the form of blockchain tokens, which could lower the cost of capital formation and introduce new forms of capital markets.
2. The GENIUS Act subjects stablecoin issuers to the Bank Secrecy Act, requiring anti-money laundering measures, though its immediate impact is limited.
3. A study reveals that manipulators can inflate memecoin prices by 500% with just $54 due to low liquidity in decentralized exchange pools.
4. GameSquare has issued $5 million of NFT treasuries, showcasing crypto's influence on traditional finance from within.
5. Ripple's XRP token has a fully diluted value exceeding $300 billion, despite modest activity on the XRP Ledger.
Description
For just $54, you, too, could send a memecoin 500% higher
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