SpaceX Joins Solana's Tokenized Share Market Amidst DeFi Security Concerns

SpaceX is launching tokenized shares on Solana, allowing for ownership of underlying SpaceX shares to be represented by a tradable token. The token, called SPCX, will trade around the clock and can be held in self-custody wallets, with a direct redemption path back to the security.

The launch comes as SpaceX prepares to list on Nasdaq, marking an aggressive push to bring newly listed U.S. equities on-chain from day one.

In related news, decentralized exchange Raydium suffered a $1.34 million exploit on Wednesday, with the attacker draining five deprecated liquidity pools tied to an older version of its automated market maker program.