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Nvidia, Tesla Stocks on Tron: xStocks Expand After Hitting Trading Milestone

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In brief

  • xStocks, a feature which allows users to traded tokenized versions of companies like Nvidia, Apple, and Meta, is expanding to Tron.
  • The tokenized stocks are backed 1:1 with real shares in the underlying companies.
  • xStocks so far have generated more than $500 million in on-chain trading volume.

Tokenized versions of Tesla, Nvidia, Apple, and other major stocks are now available for trading on the Tron network thanks to a collaboration between the Tron DAO, Kraken, and Backed—the firm behind xStocks, which offers global investors access to tokenized equities. 

The feature’s expansion comes shortly after xStocks eclipsed more than $500 million in on-chain trading volume to date, according to data from its official Dune dashboard. 

“Expanding xStocks to Tron, a network that settles over $20 billion daily, will significantly boost brand visibility and adoption,” Kraken Global Head of Consumer Mark Greenberg told Decrypt. “More importantly, it brings us closer to a fully permissionless, borderless, and interoperable market where anyone can trade tokenized equities around the clock.”



Backed’s xStocks feature allows users to gain exposure to American equities via on-chain tokens that are 1:1 backed with actual shares in each respective company. Previously available to users on Solana and BNB Chain, and offered via centralized exchanges like Kraken, these tokens will now be available via TRC-20 tokens on Tron. 

“This collaboration highlights how Tron’s decentralized network can bring tokenized equities into a more open, transparent, and accessible environment,” said Tron founder Justin Sun, in a statement. 

“Tokenized equities represent a natural evolution for crypto, bridging traditional markets with blockchain,” he added. “As demand for popular equities meets a global base of previously excluded users, we’ll see a more efficient, flexible, and accessible market.”

To date, the network is arguably best known for its substantial stablecoin usage, which has grown by about $23 billion in the last year according to data from DefiLlama. The network holds $82.8 billion in stablecoins—primarily Tether’s USDT—trailing only Ethereum, which maintains $143 billion in stablecoins at the time of writing.

xStocks have generated more than $2.9 billion in volume between centralized exchanges and their decentralized counterparts, though the split falls heavily in favor of centralized exchanges which have accounted for more than 95% of the volume according to the official xStocks Dune dashboard. Over $500 million of that trading has taken place on-chain, per the dashboard.

The tokenized equities currently account for around $46.4 million in assets under management, more than 20% of which can be attributed to tokenized shares in Elon Musk’s Tesla (TSLA). 

As for bigger goals, Backed is focused on continuing to expand its xStocks product offering.

“Our priority is expanding the xStocks Alliance—bringing more partners, blockchains, and applications onboard as we deliver the gold standard in tokenized equities offerings,” Greenberg said. “That’s where the real growth happens.”

More features, chain integrations, and new offerings are expected in the coming weeks, he added. 

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Tesla Competitor Launches Crypto Strategy
Crypto Trends

Tesla Competitor Launches Crypto Strategy

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  • A 98% plunge
  • Tesla’s Bitcoin holdings  

Faraday Future (NASDAQ: FFAI), a zombie EV company, recently unveiled its own cryptocurrency strategy, joining a broader craze.

The company has announced the C10 Index, which is a basket of cryptocurrencies weighted by market cap. Bitcoin makes up almost half of the index. Ethereum (ETH) has a 24% share.

The company has already purchased $30 million worth of crypto, and it plans to increase this sum to as much as $1 billion.

A 98% plunge

Faraday Future, which was founded back in 2014, emerged as an early Tesla competitor.

In 2016, it introduced its flashy Batman-like FFZERO1 concept car that allegedly showcased its technology.

However, the company has been grappling with production delays as well as limited vehicle deliveries.

In 2021, it received a Wells notice from the U.S. Securities and Exchange Commission (SEC) related to its SPAC merger.

The stock has plunged by roughly 98% from its peak, which is a typical SPAC boom-and-bust story.

Tesla’s Bitcoin holdings  

In the meantime, Tesla remains the 11th largest Bitcoin treasury company with total holdings of 11,509 coins.

The company initially purchased $1.5 billion worth of BTC in February 2012, propelling the cryptocurrency’s bull run.



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A Tesla car at a Supercharger station
Product Reviews

Tesla Might Have a Fix for the Elon Musk Problem

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Tesla is having a nightmarish year, and much of the damage can be traced directly to its CEO, Elon Musk.

After spending nearly $290 million to help Donald Trump return to the White House, Musk took on a tailor-made role in the administration, heading the new Department of Government Efficiency (DOGE). His push to slash federal agencies and cut social programs, combined with his embrace of controversial theories, sparked global protests outside Tesla showrooms. The company’s liberal customer base, once its greatest asset, felt alienated, with many owners publicly regretting their purchases.

The backlash has been brutal. In the first quarter, Tesla’s global sales fell 13%, and its net income plummeted a staggering 71% to $409 million compared to the previous year. The company’s stock is down over 20% since January. With early data suggesting the slide isn’t stopping, the reputational damage looks deep and lasting, even after Musk’s spectacular falling out with the president and departure from the administration.

But Tesla may have an escape plan. According to a new report from Bloomberg, the automaker is turning its sights to India.

The company is preparing to open its first showroom in Mumbai by mid-July, with another planned for New Delhi shortly after. A first shipment of Chinese-made vehicles, primarily the best-selling Model Y SUV, has already been sent to the country. This move isn’t just about expansion; it’s a strategic pivot toward the third-largest auto market in the world, a market that could potentially offset cratering demand in Europe and stiffening competition from Chinese rival BYD.

For years, Tesla’s attempts to enter India have failed, snagged by disagreements over local manufacturing requirements and pricing. The breakthrough appears to have come in February, after Musk met with Indian Prime Minister Narendra Modi during his state visit to Washington. The two leaders spoke again by phone in April.

“Spoke to @elonmusk and talked about various issues,” Modi posted on X. “We discussed the immense potential for collaboration in the areas of technology and innovation.”

Spoke to @elonmusk and talked about various issues, including the topics we covered during our meeting in Washington DC earlier this year. We discussed the immense potential for collaboration in the areas of technology and innovation. India remains committed to advancing our…

— Narendra Modi (@narendramodi) April 18, 2025

Musk responded enthusiastically, saying, “I am looking forward to visiting India later this year!”

It was an honor to speak with PM Modi.

I am looking forward to visiting India later this year! https://t.co/TYUp6w5Gys

— Elon Musk (@elonmusk) April 19, 2025

For a company desperately needing to change the narrative, this pivot to a massive, untapped market could be the lifeline it needs. The question is whether a new chapter in India can be enough to fix the damage done at home.

Tesla did not immediately respond to Gizmodo’s request for comment.





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Tesla blows past stopped school bus and hits kid-sized dummies in Full Self-Driving tests
Gaming Gear

Tesla blows past stopped school bus and hits kid-sized dummies in Full Self-Driving tests

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A revealing demonstration with Tesla’s Full Self-Driving mode is raising concerns about whether fully autonomous cars are ready to hit the streets. Tesla has reportedly pushed back the rollout of its upcoming all-electric, fully autonomous car called the Cybercab, while a recent demonstration in Austin, Texas showed a Tesla Model Y running through a school bus’ flashing lights and stop signs, and hitting child-size mannequins. The tests were conducted by The Dawn Project, along with Tesla Takedown and ResistAustin, and showed Tesla’s Full Self-Driving software repeating the same mistake eight times.

It’s worth noting that Tesla’s autonomous driving feature is formally known as Full Self-Driving (Supervised) and “requires a fully attentive driver and will display a series of escalating warnings requiring driver response.” Tesla even has a warning that says, “failure to follow these instructions could cause damage, serious injury or death.” However, it’s not the first time that Tesla’s FSD software has found itself in hot water. The Dawn Project, whose founder Dan O’Dowd is the CEO of a company that offers competing automated driving system software, previously took out ads warning about the dangers of Tesla’s Full Self-Driving and how it would fail to yield around school buses. In April 2024, a Model S using Full Self-Driving was involved in a crash in Washington, where a motorcyclist died.

With anticipation building up for an eventual Cybercab rollout on June 22, the company’s CEO posted some additional details on X. According to Elon Musk, Tesla is “being super paranoid about safety, so the date could shift.” Beyond that, Musk also posted that the “first Tesla that drives itself from factory end of line all the way to a customer house is June 28.”



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Dow Jones, Nasdaq, S&P 500 down, retailers are split on tariff impact
Crypto Trends

Dow Jones up on U.S.-China trade talks, Tesla surges

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U.S. stock indices were up amid renewed trade talks between the U.S. and China, while Tesla stock gained.

U.S. stocks trended up as encouraging news on trade trickled to the public. On Tuesday, the Dow Jones Industrial Average was up 110 points or 0.26%, while the S&P 500 was up 0.41%. Meanwhile, the tech-heavy Nasdaq was up 0.38%.

Traders are keeping a close eye on trade talks between the U.S. and China, currently taking place in London. The biggest issues the teams tackled was U.S. access to Chinese rare earth minerals, as well as China’s access to advanced computer chips.

Dow Jones Industrial Average heat map | Source: TipRanks

China suggested it was willing to ease restrictions on some companies that need rare earth minerals. However, the country is still not prepared to relinquish control completely. Despite this, Trump suggested that he was getting “good reports” from the talks, but also cautioned that “China is not easy” to negotiate with.

At the same time, the U.S. and India made substantial progress in their trade negotiations. According to sources from the Indian government, the two countries had a productive discussion, focusing on industrial and some agricultural goods.

Tesla recovers on robotaxi announcement

Stocks of Tesla were up 3.25% as the public feud between its CEO, Elon Musk, and U.S. President Donald Trump cooled off. Notably, on June 10, Trump made some conciliatory comments toward Musk and stated that he was open to talking to the tech CEO again.

At the same time, traders focused on new developments in its robotaxi business. Tesla received a license to operate autonomous vehicles in the state of Texas, with tests scheduled to begin on June 12 in Austin. Still, some analysts are skeptical about whether Musk can deliver on his promises of fully autonomous, non-manned vehicles.



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Dow drops 115 points as S&P 500’s six-day rally ends
Crypto Trends

Dow Jones, major indices surge on jobs data while Tesla recovers

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Stocks are in recovery mode after the latest jobs report beat expectations, while Tesla regained some of its losses.

U.S. stock indices rebounded on Friday, June 6, following stronger-than-expected jobs data. The Dow Jones rose 300 points, or 0.7%, while the S&P 500 gained 0.75%. At the same time, the tech-heavy Nasdaq climbed 0.97%, with major indices buoyed by encouraging figures on U.S. employment.

According to Friday’s report, U.S. employers added 139,000 new jobs, lower than the revised April figure of 147,000 but still ahead of expectations. Meanwhile, the unemployment rate held steady at a relatively low 4.2%. Overall, the report signaled that the U.S. job market remains resilient despite ongoing concerns over the trade war.

Nonfarm payrolls data is a key metric for the Federal Reserve, which maintains a dual mandate of supporting employment and keeping inflation low. The stronger-than-expected figures are likely to keep the Fed cautious about cutting interest rates, as inflation remains a concern.

Following the positive news on the job market, U.S. President Donald Trump once again launched an attack on the Fed. Trump urged Fed Chairman Jerome Powell to lower interest rates to stimulate the economy. “Go for a full point, Rocket Fuel!” Trump stated on social media.

Tesla somewhat recovers from the Musk-Trump feud

Tesla shares recovered around 5% as traders viewed the sharp sell-off as a buying opportunity, following steep losses tied to the public feud between Elon Musk and Donald Trump. The tech CEO and former Trump ally had called for the president’s impeachment and claimed Trump was named in the Jeffrey Epstein files.

This public feud resulted in Tesla shares losing 14% on Thursday, and Musk’s personal wealth dropping by $34 billion. Later, Elon Musk signalled he would cool tensions with President Donald Trump, which Trump rejected, claiming Musk has “lost his mind.”



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Tesla is reportedly blocking the city of Austin from releasing Robotaxi records
Gaming Gear

Tesla is reportedly blocking the city of Austin from releasing Robotaxi records

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Tesla has been awfully cagey with its self-driving data this week. Reuters is now reporting that Tesla is trying to stop the city of Austin from handing over public records involving its robotaxi operations in the city, which are set to expand this month. This comes just a few days after the automaker asked a judge to prevent the National Highway Traffic Safety Administration from releasing certain data related to crashes that involved its cars with self-driving features.

Reuters says that it requested two years’ worth of communications between Tesla and Austin officials in February, shortly after Tesla CEO Elon Musk said that Austin would play home to the robotaxi experiment.

Dan Davis, an Austin public information officer, told Reuters in April that “third parties” were asking the city to withhold these records in the interest of protecting “privacy or property.” After the publication escalated the matter to the Texas Attorney General’s office, an attorney for Tesla wrote Ken Paxton opposing the release of what it called “confidential, proprietary, competitively sensitive commercial and/or trade secret information.”

Reuters also spoke with Neal Falgoust, an Austin Law Department official overseeing public records issues about the matter. Falgoust told reporters that the city of Austin doesn’t take any particular position on the confidentiality of the materials involved. When Reuters pressed further, asking if the people of Austin have a right to information about the driverless cars that would be traversing their streets, Falgoust did not respond.

Tesla said just last week that it had been testing driverless Model Ys in Austin for several days, which Elon Musk said was a month ahead of schedule. This would not be the first fleet of autonomous taxis on the streets of the Texas capital, with Waymo operating there since 2023 within a specific geofenced area. Waymo has also partnered with Uber in Austin since March.

By Texas law, the Attorney General’s office has 45 business days to decide whether the city of Austin is required to make these records public, which would be next week.



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Xrp Lawyer Reveals Why Elon Musk'S Tesla Will Buy More Bitcoin
GameFi Guides

Elon Musk’s Tesla will Buy More Bitcoin: Pro XRP Lawyer

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Pro XRP lawyer John E. Deaton has offered a bold perspective, claiming Elon Musk’s Tesla will buy more Bitcoin. His post on X came in response to a recent tweet from Musk himself, where the Tesla CEO expressed strong disapproval of the new “Congressional spending bill.”

On X, Musk stated,  “I’m sorry, but I just can’t stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.”

Source: X

He added, “It will massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden American citizens with crushingly unsustainable debt.” Responding to Musk, Deaton tweeted, “Wouldn’t be surprised to see Elon and Tesla buy more Bitcoin. The Big Beautiful Bill is a walking billboard and advertisement for buying Bitcoin.”

This comes as Tesla is already rumored to buy $3 billion in Bitcoin. However, the EV giant is yet to make an official announcement. Nonetheless, it’s worth noting that the company already holds 11,509 BTC worth $1.22 billion, according to data from Arkham Intelligence.

Coming back to the bill, as of early June 2025, the “One Big Beautiful Bill Act” is currently under active consideration in the U.S. Senate. The Republican leadership wishes to pass it by both chambers and send it to the President’s desk by July 4.

Also Read: Elon Musk Says Ripple XRP is Promising: Fact Check



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Tesla continues to circle the drain
Gaming Gear

Tesla continues to circle the drain

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We don’t typically report on monthly sales data for one car company in one market, but this one seems particularly notable given all that’s going on in the world. In another sign that Elon Musk’s company is in a real tough spot, Tesla is getting absolutely demolished in Europe. The company’s sales in the EU, UK, and European Free Trade Association fell a staggering 49 percent in April year over year, even as overall battery-electric vehicle sales rose.

The new figures from the European Automobiles Manufacturers Association revealed that Tesla only logged 7,261 new vehicle registrations in April, nearly half of what it recorded in April 2024. The numbers are particularly notable considering Tesla recently launched the refreshed Model Y, an update on the global best-seller which was expected to attract a host of new customers. Instead, it appears the strategy has so far been a failure.

Despite Musk’s optimistic talk about the Model Y’s sales prospects, Tesla’s brand crisis appears to be deepening. And it’s not because European consumers are souring on electric vehicles; in the first four months of 2025, new battery-electric car sales grew by 26.4 percent, to 558,262 units, capturing 15.3 percent of the total EU market share.

Despite Musk’s optimistic talk about the Model Y’s sales prospects, Tesla’s brand crisis appears to be deepening.

Tesla’s falling fortunes can be chalked up to several factors, including rising competition from domestic manufacturers and Chinese rivals, and Musk’s efforts to slash federal spending for the Trump administration as part of DOGE, or the Department of Government Efficiency. Musk’s political meddling in the EU, where he came out in support of Germany’s far-right party ahead of that country’s elections, appears to have done Tesla few favors as well.

Musk seems to be aware that his political activities are having an adverse effect on Tesla. He recently claimed he would spend less time in Washington and focus more on his company — although he also said he would stay involved in Trump’s White House through the end of the president’s term in office.

But while Republicans were once thrilled by Musk’s allegiance to Trump, the country as a whole is sick of his antics. A recent Reuters/Ipsos poll found that 58 percent of respondents had an unfavorable view of Musk, compared to 39 percent who viewed him favorably. And it would seem like the strategy of tying Musk closely to his companies’ brands has backfired. A survey gauging the reputations of top companies ranked Tesla 95th and SpaceX 86th, down from the 8th highest rated brand and 5th highest four years ago, respectively.

During last month’s quarterly earnings call, Musk confidently told investors that Tesla’s sales would pick back up after factory closures for the refreshed Model Y was all settled. But with the CEO so focused on AI, robotics, and self-driving cars, it’s not clear that there’s any immediate fix to Tesla’s compounding problems.



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Tesla
GameFi Guides

Tesla Maintains $1.25 Billion In Bitcoin Holdings, Signaling Continued Confidence

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Tesla Inc. still owns about 11,900 BTC. At today’s rate of $108,929.10 per coin, that stash is worth roughly $1.257 billion. According to on-chain data shared by Arkham Intelligence on X, the electric car maker hasn’t budged from its HODL stance since its first big buy in Q1 2021.

Tesla’s Bitcoin Holdings Confirmed

Based on reports, Tesla keeps its coins with Coinbase Prime Custody. The move underlines the firm’s comfort with holding large amounts of Bitcoin.

A drop of 1% in the last 24 hours hasn’t prompted any sell-off. Back in 2021, Tesla spent $1.5 billion to buy Bitcoin. It later sold slices worth about $1.2 billion, but never fully cashed out.

Tesla now holds over $1.25 Billion of BTC.

Elon Musk is bullish on Bitcoin. pic.twitter.com/rNbzOP1QPJ

— Arkham (@arkham) May 23, 2025

Corporate Buyers Step In

More firms are piling into Bitcoin, and they’re buying at scale. Strategy Inc., led by Michael Saylor, holds 576,230 BTC after adding 7,390 coins for $765 million.

That move sent its stock over $400. A tech outfit trading under ticker 3350.T has 7,800 BTC on its books. It plans to reach 10,000 BTC and saw its stock jump 15% after a latest purchase of 1,004 coins.

States Seek Bitcoin Reserves

US President Donald Trump’s return to office this year has sparked fresh interest in public Bitcoin holdings. New Hampshire passed a bill on May 6 that lets certain state funds put up to 5% into Bitcoin and other big crypto assets.

BTC is currently trading at $108,290. Chart: TradingView

In Texas, the House approved Senate Bill 21 on May 22 by a 101–42 vote, setting up a Texas Strategic Bitcoin Reserve. Governors in both states are weighing when to sign. Arizona also cleared a fund for unclaimed property to go into crypto back on May 7.

Credit: David Paul Morris / Bloomberg / Contributor / Getty Images

A Close Look At The Numbers

Tesla’s 11,900 BTC sits well below its original 43,200-coin haul from 2021. Strategy Inc.’s 576,230 coins are worth over $62 billion at current prices.

The 3350.T outfit’s 7,800 BTC equals about $850 million. State plans vary, but New Hampshire’s cap could see millions shift into Bitcoin this year. Texas’s bill doesn’t set a dollar limit, but any move would mark a first for a major state.

Outlook For Bitcoin Adoption

Investors and public bodies have watched Bitcoin’s price swings for clues before putting money to work. Tesla’s steady hold shows faith hasn’t waned. Corporate purchases keep headlines busy, while state plans hint at a new chapter in US finance.

Market watchers will be looking for signatures on those bills and any fresh moves from other states. For now, the story is clear: big players still see Bitcoin as worth owning.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.





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