Clockless Stocks: The Tokenized Risk You Can’t Sleep On

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Digital asset treasury ventures-those ambitious houses built from breathless numbers and the echo of keyboards-now parade their tokenized stocks as if a new dawn had risen behind the smoke of servers. And we, the watchers, tally the risks the way a weary peasant tracks frost on the fields: one more notch of worry, one more breath held in the chest. The market trembles not with hymns but with the arithmetic of sleepless nights, and the investor, bless him, carries a ledger that never sleeps, a ledger that snickers at your mortgage and smiles at the glamour of twenty‑four seven. 😅

“Blockchains trade 24/7, whereas traditional markets have specific hours of operation,” Kadan Stadelmann, chief technology officer of the Komodo decentralized exchange platform, reminded us, with the calm of a man who has learned to count to infinity without losing his temper. Blockchains do not close, and the midnight bell tolls for the price as surely as the sun tolls for a fool’s fortune.

Sharp onchain price movements that occur outside of traditional market operating hours could lead to a run on the stock of a treasury company that has issued both tokenized and traditional shares, without the company having sufficient time to respond to a price hit. The night is not a place where answers keep their promises; it is a place where questions turn to debt and debt turns to rumors, and the rumor, unfortunately, wears a glossy hologram and a ticker.

Smart contract risks through code exploits or the risk of hacking both the underlying funds held by the crypto treasury company and the tokenized shares further magnify risk, Stadelmann added. Kanny Lee, the CEO of decentralized exchange SecondSwap, spoke with a quiet grin, as if confessing a stubborn truth:

“Tokenizing DAT equity creates a synthetic on top of a synthetic. Investors end up exposed twice, once to the volatility of the treasury’s crypto and again to the complexity of corporate equity, governance, and securities law. That’s a lot of risk layered onto already volatile assets.”

Tokenized stocks are gaining popularity as dozens of companies now have tokenized shares, and the US Securities and Exchange Commission (SEC) is teasing 24/7 capital markets. Yet the lack of legal clarity leaves tokenized stocks in a regulatory grey zone. In this fog, the ledger whispers, and the wise listen, and the risk remains a stubborn companion.

SEC and stock exchanges push for tokenized equities and round-the-clock trading

The US SEC is exploring blockchain-based stock trading to modernize the legacy trading system, which takes nights, weekends, and holidays off, while featuring lengthy settlement times compared to digital asset technology. The old clock still ticks, but the hands move as if they were made of glass and wind.

SEC officials are weighing plans to allow regulated retail crypto exchanges to offer tokenized stock trading to customers in the United States.

Traditional stock exchanges like the tech-focused Nasdaq and the New York Stock Exchange (NYSE) are also pushing for expanded trading hours to keep up with crypto markets that trade around the clock. The tone sounds almost rebellious, as if the very doors of time are being pried open with a smile and a keyboard.

Nasdaq announced plans to offer 24-hour trading, 5 days per week, in March and is targeting a rollout of the expanded trading hours sometime in the second half of 2026.

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2025-10-04 20:59