OKX files with the SEC to launch a platform for trading tokenized US stocks, becoming one of the first major crypto exchanges to pursue the offering under new US rules. Its joint venture with Intercontinental Exchange plans to seek approval for tokenized shares in an initial 63 NYSE-listed companies; issuers have 30 days to opt out before trading can begin.
Fisker’s Ocean SUV launch exposes mounting production, sales, safety, and cash problems that culminate in the automaker’s Chapter 11 bankruptcy filing. In 2023, the company produces 1,022 vehicles in the second quarter, below its target, and cuts its annual production guidance. In 2024, safety investigations, repeated layoffs, a production pause, and failed rescue talks deepen the crisis.
Fisker’s Ocean SUV launch gives way to production shortfalls, missed sales goals, vehicle safety complaints, and a mounting cash crisis. The automaker cuts its 2023 production forecast, lays off workers, pauses Ocean production with $121 million in cash reported in March 2024, and loses negotiations over a potential automaker investment; the timeline culminates in its Chapter 11 bankruptcy filing.
