Crypto Biz: SpaceX fuels tokenization’s next boom

Tokenized RWAs surge despite crypto volatility, Kraken launches SpaceX IPO xStocks, prediction markets outpace onchain gambling and Sam Bankman-Fried seeks a Trump pardon.

Crypto prices have spent much of the year reacting to macro headlines and regulatory uncertainty, but tokenization has remained one of the industry’s few consistent growth stories. Active real-world assets are surging, banks are embracing blockchain infrastructure and tokenized equities are expanding into new markets.

That momentum was on full display this week as Kraken rolled out tokenized access to the highly anticipated SpaceX IPO, offering eligible users in more than 110 markets a chance to participate through xStocks.

Elsewhere, prediction markets surpassed onchain gambling for the first time, and former FTX CEO Sam Bankman-Fried formally asked US President Donald Trump for a pardon.

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