MMeteora Ecosystem claims Apple, Amazon, Meta, Microsoft, Nvidia and Tesla are now all trading on Solana.
CWait, actual shares? Or something that tracks the price?
MMeteora Ecosystem posted on X that Backpack Securities issued tokenized versions of all seven, live through Sunrise.
CSo a broker-dealer is issuing securities on-chain. That's a real step, not just another memecoin.
MIt's a real step into a gray area. If Backpack holds the underlying shares and you hold a token, what happens when Backpack has a bad day?
CSame as any broker. You're trusting the custodian. But now it trades 24/7, settles in seconds, and anyone with a wallet can get fractional exposure.
MAnyone with a wallet and a tolerance for regulatory whiplash.
COh, come on. Tokenized bonds and funds already exist. Equities are the obvious next step.
MNo, it's not just obvious. Equities have different rules around clearing, disclosure, corporate actions.
CAnd those rules are why normal people are locked out of after-hours moves. This fixes that.
MIt fixes access by replacing one middleman with another. Backpack is still a middleman.
CSo you'd rather keep the New York Stock Exchange's hours and three-day settlement?
MI'd rather know the token is actually backed one-to-one, audited, and not rehypothecated.
CThat's a fair ask, but the technology can let you check reserves on-chain. Try auditing a traditional broker in real time.
MReal-time audit is a genuinely good point. But issued by Backpack Securities doesn't automatically mean audited.
CNo, but it's a start. And according to Meteora, it's live on Solana, not a testnet.
MIt's Saturday afternoon. The market's closed. With this, someone can trade Nvidia right now.
CExactly. That's the real selling point. Price moves on a Saturday don't wait for Monday's open.
MAnd that's my worry. People will trade on fear at 2 a.m. with no cooling-off.
CAdults can set their own hours. The point is access, not paternalism.
MI'm not saying ban it. I'm saying the custody risk is real and the audit question is unanswered.
CThen ask Backpack for the proof. If they can't show it, that's a red flag. That's how markets work.
MFine, but I'll wait for a real audit before I call it magnificently onchain.
MSpeaking of regulators, a consultancy called Cullen International posted a tally that Big Tech lawyers will love to hate.
CWhat's the damage?
MThey claim Europe has brought more than 60 antitrust cases against Amazon, Apple, Google, Meta and Microsoft.
CSixty? Is that their count or the EU's?
MCullen's count. They say 16 are still pending and nearly 50 ended in infringement or commitments.
CEven if only half are real, that's a war on American tech.
MWar is strong. Some of those cases were about actual harm to competitors.
CYou mean competitors who couldn't build a better product, so they called Brussels?
MNo, some were about self-preferencing and squeezing app developers. That's not nothing.
CThe US built these companies. Europe sues them. That's the dynamic.
MAnd when those companies break European law, they pay. That's also the dynamic.
CThe problem is the law changes after the product wins. That's moving goalposts.
MThe Digital Markets Act was passed in 2022, after years of debate. Not exactly a surprise.
CYears of debate that produced vague rules and endless investigations. That's my point.
MYou'd prefer no rules at all.
CI'd prefer rules that don't make it impossible to ship. But we can agree 60 cases is a lot.
MIt is a lot. And it's a reason startups think twice before expanding there.
CThat's the real cost. Not the fines, the chilling effect.