The Wall Street Journal has carried a full-page paid advertisement over the past two days carrying the message, “YOUR STOCK. THEIR TOKENS. YOUR PROBLEM.” The ad warns the public about risks tied to stock tokenization and addresses public company CEOs directly, framing the issue as a corporate concern rather than only a crypto market issue. It was funded by Common Sense Leadership Fund, a U.S. conservative nonprofit organization.
The advertisement says the crypto industry could tokenize company shares in venues it describes as unregulated, and it lists eight risks: price dislocation, unclear ownership, impaired capital raising, cyber theft, market manipulation, anti-money laundering gaps, lack of investor protection, and potential legal liability. The report also says 22 companies, including Microsoft, Goldman Sachs, McDonald’s, and Alphabet, had previously raised objections. Related documents outlined rules for a project involving OKX and Intercontinental Exchange, or ICE, and listed the companies that objected, though they did not explain the specific reasons behind those objections.
The Wall Street Journal has published a full-page paid advertisement over the past two days with the message: “YOUR STOCK. THEIR TOKENS. YOUR PROBLEM.” The ad warns the public about risks tied to tokenized stocks.
In Chinese, the message was presented as a warning to public company CEOs: your stock, their tokens, your problem. The advertisement was funded by Common Sense Leadership Fund, a U.S. conservative nonprofit, and says the crypto industry could tokenize company shares in unregulated venues.
Eight risks listed in the ad
The advertisement names eight risks:
- price dislocation
- unclear ownership
- impaired capital raising
- cyber theft
- market manipulation
- AML gaps
- lack of investor protection
- potential legal liability
According to the report, 22 companies had previously objected, including Microsoft, Goldman Sachs, McDonald’s, and Alphabet.
Related documents outlined the rules of a project involving OKX and Intercontinental Exchange (ICE), and listed the companies that raised objections. The documents did not explain the specific reasons for those objections.
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