Bybit has entered the tokenized equity market with the launch of IPO Express, a new product designed to offer blockchain-based exposure to private and public companies.The exchange also introduced subscriptions for tokenized SpaceX shares through a partnership with xStocks. Spot trading for the product is expected to begin on June 12.

Bybit expands into tokenized equities

Bybit announced IPO Express as an on-chain equity offering platform aimed at bringing traditional assets closer to crypto users.

The first product available through the platform provides exposure to SpaceX through tokenized shares issued by xStocks.According to Wu Blockchain, Bybit said the tokens maintain a one-to-one linkage with the underlying equity exposure.

“Tokenized SpaceX shares are fully backed by xStocks issuers,” Bybit said in its announcement.

The exchange added that the product is designed to offer regulated exposure rather than direct ownership of SpaceX common shares.

SpaceX becomes the first offering

SpaceX was selected as the first company available through IPO Express. The company remains one of the most valuable private firms in the world.

The move gives crypto users access to a market that has traditionally been available only to venture investors and selected institutions.

Interest in private equity tokenization has increased over the past year. Market participants have increasingly looked for ways to connect blockchain infrastructure with traditional assets.Tokenized equities are part of the wider real-world asset sector, which has become one of the fastest-growing segments in digital assets.

Tokenized assets continue to grow

Crypto.news previously reported that tokenized assets have attracted growing institutional attention. Financial firms have expanded efforts involving tokenized funds, Treasuries, and stablecoins.

The XRP Ledger, Ethereum, and several other networks have also increased their focus on real-world asset infrastructure.

Exchanges are now trying to build products around that demand. Bybit’s IPO Express represents another attempt to bring traditional finance products into crypto markets.The sector has seen rapid growth because blockchain settlement can provide faster transfers and broader accessibility.

Bybit continues expansion after recovery efforts

The launch comes months after Bybit worked to restore confidence following the record hack earlier this year.

Crypto.news previously reported that the exchange managed to stabilize withdrawals and rebuild reserves after the attack.

Since then, Bybit has continued expanding its product lineup. The exchange has added new trading tools and pursued additional partnerships.

IPO Express shows that exchanges are increasingly looking beyond cryptocurrencies alone.As competition grows, tokenized equities could become another battleground between exchanges seeking new users and fresh sources of trading activity.

TLDR

• BitMEX co-founder Arthur Hayes liquidated his complete WLD holdings on June 6, referencing the SpaceX pre-IPO chart “moving unfavorably”
• Worldcoin plummeted more than 25%, declining from above $0.56 to approximately $0.40 within a single day
• Before exiting, Hayes had promoted WLD extensively, forecasting a price target of $10
• Blockchain investigator ZachXBT criticized Hayes for potentially creating “exit liquidity” at the expense of his audience
• Critical support level identified at $0.35 — failure to hold could trigger descent toward $0.23

Arthur Hayes, co-founder of the BitMEX cryptocurrency exchange, revealed on June 6, 2026, that he had liquidated his complete holdings in Worldcoin (WLD), mere days following an aggressive promotional campaign directed at his social media audience.

Through a message posted on X, Hayes declared: “This chart is going in the wrong direction. Dumped $WLD. I’m out. See y’all at the clerb.” His justification centered on the SpaceX pre-IPO stock performance on Hyperliquid, indicating unfavorable chart movement.

The sudden departure contradicted Hayes’ earlier commitment to maintain his WLD position until SpaceX’s scheduled June 12 IPO debut. He had previously claimed the initial public offering would “melt people’s faces off” and catalyze WLD appreciation due to its AI sector connections.

Hayes had confidently forecasted that WLD would climb to $10, positioning the broader artificial intelligence investment narrative as the primary catalyst. In a prior social media post, he referenced Elon Musk, stating: “Never bet against Elon.”

The market reaction to Hayes’ announcement was immediate and severe. Data from TradingView and crypto.news indicates WLD plunged from levels exceeding $0.56 down to approximately $0.40, representing a decline of roughly 28%. This positioned the token about 35% beneath its recent peak around $0.62.

ZachXBT Responds

Blockchain analyst ZachXBT issued a sharp critique of Hayes immediately following the exit disclosure. He raised questions about the volume of “exit liquidity” Hayes had generated from his follower base throughout recent days — identifying a recurring pattern that also encompassed NEAR, HYPE, and ZEC.

ZachXBT emphasized numerous instances where Hayes had aggressively promoted WLD with ambitious price projections far exceeding current valuations, only to abandon his position soon thereafter. Hayes countered, asserting he “sold to a willing seller at a price” while justifying his trading strategy.

This WLD liquidation follows a seven-day period during which Hayes also eliminated his entire stakes in HYPE, NEAR, and Zcash. ZEC had already experienced a nearly 50% collapse from recent peaks following disclosure of a security vulnerability within the Orchard shielded pool.

Key Price Levels to Watch

WLD is presently maintaining position above the $0.35 support threshold — a price point that previously served as resistance during February and March before converting to support throughout the recent upward movement.

CoinGlass liquidation heatmap analysis reveals concentrated liquidity between $0.45 and $0.48, which would function as initial resistance during any potential recovery. Larger liquidation concentrations exist near $0.59–$0.60, adjacent to this week’s local peak.

Regarding downside risk, leveraged trading positions are clustered around $0.38–$0.40. Current price action has already penetrated this zone.

A breakdown beneath $0.35 could expose the $0.23 level, where Worldcoin established its spring low. Technical momentum indicators present mixed signals, with the MACD maintaining bullish configuration despite price significantly below recent highs.

As of June 6, WLD is exchanging hands near $0.40–$0.43.

JuCoin is facing fresh scrutiny after on-chain investigator ZachXBT flagged user complaints about withdrawal delays and questioned the exchange’s reserve claims.

Wu Blockchain reported that several users had raised withdrawal issues over the past week. ZachXBT also questioned JuCoin’s reported $511 million reserves, saying much of the value appeared tied to USDC and USDT issued on JuCoin’s own JuChain.

ZachXBT flags JuCoin withdrawal issues

ZachXBT said multiple users reported problems withdrawing funds from JuCoin. The complaints arrived during a period of added concern around centralized exchange reserves and user access to funds.

JuCoin attributed the delays to platform upgrades and restructuring, according to Wu Blockchain. The exchange’s explanation did not fully end concerns because users were also asking about reserve quality.

“Multiple users have reported withdrawal issues on JuCoin over the past week,” Wu Blockchain said, citing ZachXBT’s comments.

The issue remains developing. There has been no public proof that JuCoin is insolvent, but withdrawal delays often draw fast attention because users depend on exchanges to process funds on demand.

Reserve claims face JuChain stablecoin questions

The larger concern centers on JuCoin’s reported $511 million reserve figure. ZachXBT questioned whether the reserves were backed by clear third-party assets.

A separate PANews-linked report said JuCoin claimed a 123.81% reserve ratio. It also said assets listed as USDC and USDT on JuChain were project-issued tokens, not clearly linked to Circle or Tether-issued stablecoins.

That claim matters because a token named USDC or USDT on a private or smaller chain may not carry the same backing as official stablecoins unless verified by the issuer or a supported bridge.

The report also said the reserve address held nearly all of those tokens, with only a small number of holders. That raised more questions about whether the reserve figure reflected real liquid assets.

Past JuDAO incidents add pressure

Wu Blockchain also cited ZachXBT’s note that JuDAO suffered a $20 million incident in 2025 and a $225,000 exploit in April 2026.

Those past events have added pressure to the current withdrawal debate. Users often look at past security events when judging whether an exchange or linked ecosystem can manage stress.

JuCoin has said the current delays relate to upgrades and restructuring. That explanation may be valid, but users still need clear timelines and proof that withdrawals can resume normally.

In exchange crises, communication matters. Unclear updates can increase fear even before any full technical or financial review is complete.

Exchange reserves remain a market concern

The JuCoin case comes as traders remain sensitive to exchange reserve claims. Crypto.news previously reported heavy withdrawal pressure after the Bybit hack, showing how fast users move funds during stress.

Reserve reports can help build trust, but only when users can verify the assets, issuers, chains, and wallet controls. Self-issued assets may need more explanation than widely traded mainnet assets.

Moreover, JuCoin faces two separate questions. Users want withdrawals processed, and the market wants clearer proof behind the $511 million reserve claim.

The competition between blockchain networks in the tokenized real-world asset market is gaining more attention as analysts debate whether capital is starting to shift toward the XRP Ledger.

A recent social media post from crypto analyst Ledger Man claimed that the XRP Ledger recorded about $1.5 billion in new real-world asset inflows over the last 30 days, while Ethereum experienced roughly $1.2 billion in outflows. The figures have not been independently confirmed.

Analysts point to possible capital rotation toward XRPL

According to Ledger Man, some market participants believe money could be moving from Ethereum into the XRP Ledger ecosystem.

The analyst said growing interest in tokenized real-world assets may be helping XRPL attract additional capital. The claim comes as tokenization becomes one of the fastest-growing sectors in digital assets.

“Capital may be quietly shifting from Ethereum to the XRP Ledger,” the analyst wrote.

The figures mentioned in the post should be viewed as analyst estimates until they are confirmed by blockchain data providers or official reports.

XRPL tokenization activity continues to expand

Recent crypto.news reporting showed that the XRP Ledger’s real-world asset market cap increased by more than 124% during the first quarter.

The report said tokenized assets on XRPL reached approximately $2.25 billion. Stablecoin activity also increased as RLUSD continued expanding across the ecosystem.

Ripple has been focusing heavily on tokenization infrastructure. The company has promoted use cases involving tokenized securities, funds, and institutional assets.

Crypto.news also reported that RLUSD expanded to multiple networks through Wormhole integration. The move provided additional liquidity options for developers and institutions.

Ethereum remains the largest tokenization ecosystem

Despite claims of outflows, Ethereum still hosts the largest share of tokenized assets and decentralized finance applications.

Many institutions continue using Ethereum because of its established infrastructure, developer base, and liquidity depth.

Large tokenization projects from financial firms have traditionally launched on Ethereum or Ethereum-compatible networks.

This means competition between Ethereum and XRPL is not necessarily a winner-take-all situation. Several networks are trying to capture different parts of the tokenization market.

Tokenized assets become a growing battleground

The tokenized real-world asset sector has become one of the main growth themes across the crypto industry.Banks, asset managers, and fintech companies are increasingly testing blockchain-based versions of traditional financial products.

David Schwartz recently said tokenized securities, money market funds, loans, and repos could become important parts of the XRP Ledger ecosystem.

As more institutions enter the market, competition between blockchain networks is expected to increase.

However, claims about large capital shifts between Ethereum and XRPL remain difficult to verify. However, the growth of tokenized assets continues to place both ecosystems at the center of the next stage of blockchain adoption.

The GENIUS Act is moving into a key rulemaking stage as digital dollar users and stablecoin issuers face a June 9, 2026 deadline for comments on FinCEN and OFAC proposals.

The post shared by Digital Perspectives cited June 9 for FinCEN-OFAC comments and July 18, 2026 for full rules. The dates place stablecoin compliance back at the center of U.S. crypto regulation.

FinCEN and OFAC set June 9 comment deadline

FinCEN and OFAC are seeking public comments on proposed rules for permitted payment stablecoin issuers. The proposal would apply anti-money laundering and sanctions compliance duties to firms that issue payment stablecoins.

The Federal Register notice says comments must be received by June 9, 2026. The proposal follows the GENIUS Act’s direction to treat permitted stablecoin issuers as financial institutions under the Bank Secrecy Act.

The rules would require issuers to maintain compliance programs suited to their size and business model. They would also bring stablecoin firms closer to the same oversight used for other financial companies.

The proposal covers customer checks, sanctions controls, suspicious activity monitoring, and other systems aimed at reducing illicit finance risks.

July 18 marks another GENIUS Act milestone

The second date cited in the post is July 18, 2026. That date marks one year after the GENIUS Act became law on July 18, 2025.

Legal trackers list July 18, 2026 as a key deadline for several implementing rules under the stablecoin law. These include rules tied to foreign issuer registration requests and related appeals.

This gives regulators a narrow window to turn the law into working standards. It also gives issuers a clearer timeline for planning compliance, licensing, reserves, and reporting.

For stablecoin users, the rulemaking could shape how digital dollars move across exchanges, wallets, apps, and payment networks.

Banks push back on stablecoin rulemaking

Crypto.news reported that major U.S. banking groups asked regulators to pause several GENIUS Act comment periods. They want the Office of the Comptroller of the Currency to finish its primary stablecoin framework first.

The banks argued that firms need a clearer base rule before responding to related comment periods. Their request shows that traditional finance still wants more detail before the rules harden.

Crypto.news also reported that stablecoin firm Agora filed for a national trust bank charter with the OCC on April 24. The move could place Agora under federal oversight before the new rules fully settle.

That shows two different responses to the same rulemaking race. Banks want more time, while some stablecoin firms are trying to secure federal status early.

Stablecoin issuers face a tighter compliance path

The GENIUS Act gives the U.S. its first federal framework for payment stablecoins. It focuses on reserve backing, issuer oversight, consumer safeguards, and compliance with financial crime rules.

For issuers, the next stage is practical. They must show how they will screen users, manage sanctions risks, monitor transactions, and respond to lawful orders.

The June 9 deadline matters because it is one of the last chances for firms, banks, and users to shape the FinCEN-OFAC rule before regulators finalize it.

The July 18 milestone then brings the wider stablecoin framework closer to full use. Stablecoin issuers now face a clear message from regulators: digital dollar products will need bank-style compliance controls.

Key Takeaways

• Meta has launched USDC stablecoin payments for content creators in Colombia and the Philippines, targeting over 160 countries by late 2026
• Recipients must set up their own crypto wallets, select compatible blockchain networks, and independently convert digital currency to local money
• Payment giants Visa and Mastercard are pursuing a different strategy — integrating stablecoins behind the scenes within traditional financial infrastructure
• Global stablecoin transactions reached $33 trillion in 2025, marking a 72% increase compared to the previous year
• U.S. Senator Elizabeth Warren has raised questions to Mark Zuckerberg regarding transparency, market competition, and systemic financial risks

In March 2026, Meta revealed plans to compensate content creators using USDC, a stablecoin tied to the U.S. dollar. Initial deployment began in Colombia and the Philippines, with the company aiming to reach more than 160 nations before year-end. Given that Meta processes approximately $3 billion annually in creator compensation, this transition represents a significant departure from conventional banking channels.

However, receiving the payment marks just the beginning. After USDC arrives in their account, creators face the conversion process alone.

The Steps Creators Must Navigate

To accept these payments, content creators need to link an external cryptocurrency wallet and select between two supported blockchain platforms: Solana or Polygon. Meta has made it explicit that funds sent to incorrect addresses or incompatible networks are permanently lost.

The subsequent conversion to local currency requires transferring USDC to a cryptocurrency exchange, completing identity verification procedures, exchanging digital assets for traditional currency, and finally withdrawing through domestic banking channels. Every stage introduces additional costs and processing time.

For someone creating content in Manila or Bogotá, this represents substantial overhead simply to receive their earnings.

Both initial markets feature vibrant creator ecosystems alongside costly conventional payment infrastructure. The Philippines particularly demonstrates widespread mobile payment adoption via services like GCash and Maya. These characteristics should make them perfect testing grounds for stablecoin compensation. Yet the off-ramp infrastructure — the mechanisms converting digital dollars into usable local currency — remains inconsistent.

Traditional Payment Networks Choose a Different Path

Mastercard invested $1.8 billion acquiring BVNK, extending stablecoin settlement capabilities across more than 130 territories while maintaining existing regulatory compliance frameworks. Visa collaborated with Bridge to introduce stablecoin-backed cards enabling users to spend digital dollar holdings wherever Visa operates, with currency conversion occurring automatically.

In these implementations, consumers never interact with blockchain technology. Stablecoins manage settlement infrastructure while the user experience mirrors traditional banking.

Meta’s model shifts complexity onto users. Payment networks keep it hidden.

Stablecoin transaction activity hit $33 trillion throughout 2025, climbing 72% year-over-year. Corporate adoption continues accelerating. The systems for transferring stablecoins are increasingly sophisticated.

The challenge lies on the opposite end — converting those digital dollars into currency people can actually use for everyday purchases.

Regulatory Attention Has Arrived

Senator Elizabeth Warren contacted Meta CEO Mark Zuckerberg in May, describing the platform’s insufficient transparency as “troubling.” Her letter highlighted concerns surrounding competitive practices, user privacy, payment infrastructure integrity, and broader financial system stability.

Meta’s response clarified the company has no intention of launching its own stablecoin. Instead, Meta stated it aims to enable users and merchants to transact using third-party stablecoins across its ecosystem.

Warren’s inquiry emerged while Congress actively develops cryptocurrency market structure legislation, positioning Meta’s deployment squarely within ongoing regulatory discussions.

Meta has brought stablecoin payments significantly closer to widespread adoption. The unfinished work involves making them sufficiently frictionless that creators never need to consider blockchain technology whatsoever.