Backpack’s Tokenized Stocks Are Too Big for the SEC Sandbox

Video Wednesday, 21 October 2026

The SEC’s Innovation Exemption is the first step toward legal tokenized trading venues on public blockchains, and it comes with caps on volume, symbols and token types. On The Defiant podcast, Armani Ferrante tells Camila Russo that some of Backpack’s tokenized stocks on Solana already trade past those limits, so joining the sandbox today would mean halting its own market.

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