Bybit Expands xStock Collateral Utility (July 31, 2026)
Bybit added six xStock assets—NVDAX, HOODX, CRCLX, TSLAX, GOOGLX, and AAPLX—as collateral across its margin trading, crypto loans, and institutional loans products, allowing tokenized equities to be used within its Unified Trading Account structure 1. This matters because it lets users put tokenized equity holdings to work rather than leaving them as static positions, deepening the integration between traditional financial assets and crypto-native infrastructure 1. Tokenized equities are blockchain-based tokens that represent ownership of a traditional stock, typically backed 1:1 by the underlying share held with a regulated custodian.
SpaceX's Terafab Manufacturing Megaproject (August 7–11, 2026)
SpaceX confirmed construction of a roughly 100 million-square-foot chip manufacturing facility called TeraFab in Grimes County, Texas, with an initial phase involving a $16.8 billion capital expenditure from SpaceX and Tesla 3. The project aims to produce one terawatt of compute per year and create about 3,000 jobs, positioning it as potentially the largest single building on Earth 3. However, the actual signed agreement reportedly requires SpaceX to invest only $5 billion by 2030 and create 1,800 jobs by 2035, with a maximum penalty of just $60 million if it withdraws—far below the $119 billion total cost estimate mentioned in the pitch .
Tokenized Stock Market Surges, SpaceX Leads on bStocks (August 7, 2026)
Wallets holding tokenized stocks jumped 33% in just over a week to 1,020,510, a 17.3-fold increase from a year earlier, with tokenized stocks now representing 62.8% of the onchain real-world asset (RWA) market 4. On bStocks, Binance's tokenized securities platform, SpaceX leads as the most held tokenized stock with about 107,000 wallets, followed by NVIDIA xStock at 64,000 4. This signals that tokenized equity adoption is being driven by numerous small retail positions rather than large institutional accounts, a pattern likely to shape market dynamics going forward 4.
Biggest Stories of 2025
SpaceX IPO Plans Confirmed for 2026: Elon Musk stated SpaceX plans to pursue an IPO in 2026, with the company already the top space-launch business globally and holding an estimated private valuation of $800 billion 5. This set the stage for the tokenized xStock products tied to SpaceX to gain significant attention. (December 29, 2025)
SpaceX-Themed Romance Scam Indictments: South Korean prosecutors indicted 13 individuals for running a $1.3 million romance scam themed around SpaceX, allegedly using cryptocurrency to launder profits through a bogus SpaceX investment app 6. The case highlighted the reputational risks that accompany high-profile private companies in the crypto space. (December 31, 2025)
xStocks Launches on Mantle: In collaboration with Backed, the Mantle team announced that tokenized equities were coming to its network through xStocks, with Bybit providing centralized exchange support for deposits and withdrawals at launch 7. This expanded the distribution footprint of the xStocks framework that underpins SpaceX xStock. (November 7, 2025)
xStocks Live on Kraken in Europe: Kraken announced that xStocks were now live in its app for eligible clients in Europe, broadening retail access to tokenized equities including SpaceX 8. This marked a key milestone in bringing tokenized stocks to a mainstream exchange audience. (September 10, 2025)
xStocks on BNB Chain: BNB Chain announced a partnership with Kraken and token issuer Backed to introduce xStocks on its network, making the assets available for trading and integration into DeFi applications 9. This extended xStocks' reach across additional blockchain ecosystems. (July 9, 2025)
Kamino xStocks Integration: Kamino integrated xStocks into Kamino Lend, enabling users to borrow stablecoins against tokenized equities using Chainlink-powered data infrastructure, with eight tokenized equities usable as collateral at launch 10. A price band mechanism was introduced to mitigate liquidation risk during market closures. (July 14, 2025)
xStocks Launch: The Backed team announced the launch of xStocks—tokenized shares of select US stocks and ETFs issued on Solana—in collaboration with Bybit and Kraken, with Chainlink as the official oracle infrastructure and Kamino, Raydium, and Jupiter as launch partners 11. This was the foundational event establishing the framework that SpaceX xStock operates within. (June 30, 2025)