Stocks

Crypto exchange Kraken is acquiring Backed Finance, a firm specializing in tokenized stocks and ETFs. The move is a major push into the real-world asset (RWA) tokenization market, which is projected to grow significantly in the coming years.

In November, inflows into companies holding digital asset treasuries plummeted to a yearly low of $1.32 billion. Consequently, the stock prices of major players like Strategy (MSTR) and Metaplanet have suffered dramatic declines, with MSTR down over 60% from its July peak.