{"investigation":{"slug":"xstocks","entity_name":"xStocks (Backed Finance)","trust_score":52,"severity_base":null,"score_modifier":0,"confidence":0.62,"status":"draft","content_type":"investigation","summary":"xStocks are tokenized-equity products issued as Swiss/Jersey-structured tracker certificates by Backed Finance (issuing entity Backed Assets (JE) Limited), distributed principally through Kraken and available on Solana and other chains. Backed was acquired by Kraken in late 2025/early 2026. The wrapper has documented legal, custodial and market-structure features (segregated custody, weekly proof-of-reserves attestations, a Liechtenstein-approved EU base prospectus) but also carries structural risks common to synthetic tokenized-equity products: holders get economic exposure without shareholder voting rights, redemption directly with the issuer is restricted to qualified/eligible counterparties rather than open to all retail holders, the products fall outside the SEC's 2026 tokenized-stock exemption framework, and the catalogue of tokens listed on Solana vastly exceeds the number that actually trade, creating fertile ground for lookalike/impersonation tokens. This assessment rates the token/issuer/wrapper only, not the underlying listed companies.","sections":[{"content":"xStocks are issued as bearer debt instruments classified as tracker certificates by Backed Assets (JE) Limited, a Jersey-registered special-purpose vehicle holding COBO and CGPO consents from the Jersey Financial Services Commission, according to xStocks' own product-legal documentation. For distribution in the EU/EEA, the products are governed by a base prospectus approved by Liechtenstein's Financial Market Authority (FMA) under the EU Prospectus Regulation, which is passportable across the European Economic Area, with each individual product governed by its own Final Terms. The parent company, Backed Finance, structured the tokens under Swiss law rather than registering them as securities with the U.S. SEC; xStocks are explicitly \"not marketed, offered, or solicited in the United States, to U.S. Persons, or in any other prohibited jurisdiction,\" and Kraken's own risk disclosure states xStocks are \"not accessible in the US, Canada, UK, or Australia.\" Holders receive economic exposure (price tracking and reinvested dividend value) but no shareholder voting rights and do not appear on the underlying company's share register, per xStocks' own documentation and an independent analysis by data firm Allium.","heading":"Legal Structure and Issuer","sources":[{"url":"https://docs.xstocks.fi/docs/product-legal-overview","name":"xStocks Docs — Product Legal Overview","type":"official","credibility":1},{"url":"https://www.kraken.com/legal/xstocks","name":"Kraken — xStocks Risk Disclosure","type":"official","credibility":1},{"url":"https://www.allium.so/blog/xstocks-tokenized-stocks-you-dont-legally-own/","name":"Allium — xStocks: Tokenized Stocks You Don't Legally Own","type":"research","credibility":2}],"severity":"medium"},{"content":"According to xStocks' legal documentation, each xStock is stated to be fully collateralized 1:1 by the underlying equity, held with regulated custodians in segregated accounts with no commingling of collateral between products, managed under an Account Control Agreement involving the issuer, custodian, and an independent Security Agent. Reporting identifies Maerki Baumann & Co. AG, a FINMA-licensed Swiss bank in Zurich, as a custodian, under a custody agreement reported to date from November 2022. Kraken's risk disclosure states the underlying stocks are \"maintained in depositary institutions in accordance with a custody agreement to which Kraken is not a party,\" and separately warns that \"Backed is exposed to the credit risks of various counterparties\" and that insolvency of a depositary institution \"may result in delayed or impossible access to the underlying stocks,\" potentially causing partial or total loss of invested capital. In an issuer default, xStocks documentation states the Security Agent may take control of collateral accounts, liquidate underlying assets, and distribute proceeds to token holders — a process that has not been tested publicly and carries execution and timing risk.","heading":"Custody of Underlying Shares and Collateral","sources":[{"url":"https://docs.xstocks.fi/docs/product-legal-overview","name":"xStocks Docs — Product Legal Overview","type":"official","credibility":1},{"url":"https://www.kraken.com/legal/xstocks","name":"Kraken — xStocks Risk Disclosure","type":"official","credibility":1}],"severity":"medium"},{"content":"Reporting indicates Backed publishes weekly, onchain proof-of-reserves figures intended to show shares held against tokens in circulation, alongside quarterly ISAE 3000 assurance audits, with attestation work associated with an external firm identified in reporting as The Network Firm, which is described as having read-only access to Backed's custody accounts. As an example of the checkability of these figures, one report cited a snapshot in which NVDAx (the NVIDIA xStock) reserve reporting showed 186,898 shares held against 186,692.75 tokens in circulation. These attestations address collateral existence but, per Allium's analysis, do not cover smart-contract risk or the risk that onchain token prices drift from the reference share price due to thin liquidity — a gap discussed further below.","heading":"Proof of Backing and Attestations","sources":[{"url":"https://getrealstocks.com/stock-tokens/backed-xstocks","name":"Backed xStocks overview — getrealstocks.com","type":"other","credibility":3},{"url":"https://www.allium.so/blog/xstocks-tokenized-stocks-you-dont-legally-own/","name":"Allium — xStocks: Tokenized Stocks You Don't Legally Own","type":"research","credibility":2}],"severity":"low"},{"content":"Kraken's xStocks risk disclosure states tokenholders have two ways to exit a position: \"redeem their xStocks with Backed (for an additional fee), or sell them for USD, crypto, or stablecoins directly on the Kraken platform.\" Redemption value may be reduced by fees and market performance. Backed Assets (JE) Limited, the issuer, is the counterparty for direct redemption; Kraken states it functions only as broker/platform and is \"not a party\" to the underlying custody agreement. Separately, market reporting describes the underlying custody-and-redemption relationship as being \"redeemable by qualified investors,\" suggesting that direct issuer-level redemption is restricted to a qualified or eligible-investor class rather than open to all retail token holders on secondary markets; retail holders on Kraken or in DeFi are understood to rely primarily on the secondary market (Kraken order book or onchain liquidity pools) to exit positions rather than issuer redemption. This distinction — a narrower redemption class than the broad retail distribution of the tokens themselves — is a structural feature investigators should weigh alongside the proof-of-reserves attestations, since reserves being real does not guarantee an individual retail holder can convert a token back to cash or shares at par on demand.","heading":"Redemption Mechanics","sources":[{"url":"https://www.kraken.com/legal/xstocks","name":"Kraken — xStocks Risk Disclosure","type":"official","credibility":1},{"url":"https://phemex.com/academy/what-is-backed-finance","name":"Phemex Academy — What Is Backed Finance?","type":"research","credibility":2}],"severity":"medium"},{"content":"Per Kraken's risk disclosure, xStocks do not pass through cash dividends. Instead, \"dividend payouts will be automatically reinvested into more of the same token. Rather than receiving a cash dividend, your xStocks balance will increase.\" This means token holders are compelled into a synthetic dividend-reinvestment structure rather than being able to choose to receive cash, and holders have no voting rights at shareholder meetings, per both Kraken's disclosure and xStocks' own legal documentation.","heading":"Corporate Actions and Dividends","sources":[{"url":"https://www.kraken.com/legal/xstocks","name":"Kraken — xStocks Risk Disclosure","type":"official","credibility":1}],"severity":"low"},{"content":"xStocks operate under a Liechtenstein FMA-approved EU base prospectus for EEA retail distribution and Jersey regulatory consents for the issuing SPV, but are explicitly excluded from the U.S. market. The U.S. SEC's Innovation Exemption for tokenized securities, reported to have been announced September 17, 2026, creates a temporary five-year framework (through 2031) allowing \"Tokenised Securities Venues\" to trade tokenized National Market System stocks without full exchange registration — but only for tokens that \"carry the same rights as the corresponding shares, including voting and dividend rights.\" Reporting on the exemption states that xStocks (along with products such as Binance's bStocks) \"provide economic exposure to underlying shares but do not give token holders direct ownership or full shareholder rights,\" and are therefore described as falling outside this framework in their current form — meaning xStocks are not positioned to obtain this specific U.S. regulatory accommodation without a structural redesign toward full share-equivalence. This is a characterization from financial trade-press reporting on the rule, not a formal SEC enforcement action or named warning against xStocks specifically, and should be read as such.","heading":"Regulatory Status","sources":[{"url":"https://www.financemagnates.com/cryptocurrency/regulation/sec-opens-onchain-stock-trading-but-existing-tokens-may-not-qualify/","name":"Finance Magnates — SEC Opens Onchain Stock Trading, but Existing Tokens May Not Qualify","type":"news_article","credibility":2}],"severity":"medium"},{"content":"In late 2025, Kraken agreed to acquire Backed Finance — the tokenized-asset issuer behind xStocks — deepening Kraken's control over the tokenization stack ahead of a planned 2026 IPO; Bloomberg reported the deal on 2025-12-02. Reporting describes Backed as the second-largest provider of tokenized public stocks by market share prior to the deal, with roughly 71 tokenized equities/ETFs, and states xStocks had surpassed $10 billion in combined exchange and onchain trading volume since launch. Deal terms were not disclosed. The acquisition consolidates issuer and primary distribution venue under one corporate parent (Kraken), which concentrates counterparty risk: the entity operating the largest xStocks trading venue is now also the entity controlling the issuing/custody chain, reducing the independence between distributor and issuer that existed when Backed operated separately.","heading":"Kraken Acquisition of Backed Finance","sources":[{"url":"https://www.bloomberg.com/news/articles/2025-12-02/crypto-firm-kraken-acquires-backed-finance-in-tokenization-push","name":"Bloomberg — Crypto Firm Kraken Acquires Backed Finance in Tokenization Push","type":"news_article","credibility":1},{"url":"https://www.theblock.co/post/381095/kraken-to-buy-backed-finance-in-tokenization-push-ahead-of-ipo","name":"The Block — Kraken to buy Backed Finance in tokenization push ahead of IPO","type":"news_article","credibility":1},{"url":"https://www.ledgerinsights.com/kraken-acquires-backed-after-xstocks-tokenized-securities-volumes-hit-10-billion/","name":"Ledger Insights — Kraken acquires Backed after xStocks tokenized securities volumes hit $10 billion","type":"news_article","credibility":2}],"severity":"medium"},{"content":"A snapshot of the Stonkpile index (an open-source, MIT-licensed aggregator built on Jupiter, DexScreener and Pyth data, taken 2026-09-26 05:17 UTC while U.S. markets were closed) recorded 1,124 xStocks-labeled tokens listed on Solana, of which only 31 had an onchain liquidity pool exceeding $5,000 and were actually trading, with roughly $98.4 million in 24-hour volume across those 31 and approximately 627,000 holders in aggregate. This is a large gap between the nominal catalogue size and genuinely liquid, price-discoverable markets: the great majority of listed xStocks tickers on Solana appear to have negligible or no real trading activity, meaning price quotes for most tickers in the catalogue may not be reliable indicators of tradable value. This figure comes from a single third-party dataset snapshot rather than an official Backed/Kraken disclosure and should be treated as indicative rather than exact; it has not been independently cross-verified against a second on-chain data source in this investigation.","heading":"Catalogue Gap: Listed vs. Actually Trading","sources":[{"url":"https://stonkpile.xyz/api/index","name":"Stonkpile index (public API snapshot, 26 Sep 2026)","type":"on_chain","credibility":2}],"severity":"medium"},{"content":"The same Stonkpile snapshot recorded material price divergence between xStocks and other issuers' tokens purporting to track the same underlying company, in cases where liquidity was thin and no continuous (24/7) Pyth oracle price existed for the reference asset. Examples in the snapshot include SpaceX-tracking tokens differing by roughly 375% across three issuers (xStocks' SPCXx priced at $149.51 against $2.35M liquidity, versus a Tessera token at $562.20 against $121k liquidity and a PreStocks token at $118.32 against $111k liquidity), and AMD tokens differing by about 21% between Backpack ($629.33) and a thinly traded xStocks AMDx ($518.66, roughly $15k liquidity). The snapshot's author suggests one possible explanation is that different issuers' tokens may represent different economic fractions or SPV units of the reference asset rather than a strict 1 token = 1 share convention, meaning apparent \"depeg\" comparisons across issuers may partly reflect differing token economics rather than a pricing failure in any single issuer. Within the snapshot, large-cap, heavily-traded names (MSTR, INTC, HOOD) matched within about 0.2% across issuers, indicating that divergence is concentrated in thinly-traded tickers rather than being a systemic feature of all xStocks pricing.","heading":"Cross-Venue Price Divergence and Thin-Liquidity Pricing","sources":[{"url":"https://stonkpile.xyz/api/index","name":"Stonkpile index (public API snapshot, 26 Sep 2026)","type":"on_chain","credibility":2}],"severity":"high"},{"content":"Tokenized-equity markets trade 24/7 onchain even though the underlying listed shares only trade during exchange hours, creating a structural risk that thin overnight or weekend liquidity can be manipulated or squeezed, producing large, temporary price dislocations disconnected from the real share price. This mechanism was demonstrated in a documented incident involving a different tokenized-stock issuer's product: multiple outlets, including The Defiant and Phemex News, reported that in September 2026 a memecoin called BONER cornered roughly half to as much as 81% of the onchain float of a tokenized Hims & Hers Health token trading on \"Robinhood Chain\" (not xStocks/Solana), pulling most of the available supply into its own liquidity pool. With the NYSE closed on a Sunday night and the equity having closed Friday at $28.84, the tokenized stock reportedly printed as high as $132.64 before new token supply was minted at 00:43:30 UTC the following Monday, after which the premium collapsed from 93% to 12% within 12 minutes and to roughly zero within two hours. This incident occurred on a competing issuer's chain, not on xStocks, and should not be read as a confirmed xStocks-specific event; it is cited here because it demonstrates a mechanism — thin overnight float being cornered by a paired memecoin pool — that the Stonkpile snapshot indicates is also structurally present around xStocks: the same 26 Sep 2026 snapshot recorded 1,027 memecoins/1,068 pools quoted against tokenized stocks broadly (including xStocks tickers), with 77 of the 100 stocks used as memecoin quote assets lacking any always-on Pyth price feed, and with the top 10 pools accounting for 67% of memecoin-quoted volume — conditions that Stonkpile's author and reporting on the BONER/HIMS episode both associate with elevated float-squeeze risk during market-closed hours. No confirmed xStocks-specific squeeze incident matching this pattern was found in this investigation; this section should be read as sector-context risk rather than a documented xStocks event.","heading":"Weekend/Overnight Pricing Risk and Memecoin Float Squeezes (Sector-Wide Pattern)","sources":[{"url":"https://thedefiant.io/news/tokens/a-memecoin-called-boner-has-cornered-half-the-tokenized-hims-and-hers-float","name":"The Defiant — A Memecoin Called BONER Has Cornered Half the Tokenized Hims & Hers Float","type":"news_article","credibility":2},{"url":"https://phemex.com/news/article/solana-memecoins-tokenized-hims-hers-squeeze-fake-nasdaq-clone-cronos-rollback-set-for-live-breakdown-95426","name":"Phemex News — Solana Memecoin Corners 81% of Tokenized Hims & Hers","type":"news_article","credibility":2},{"url":"https://stonkpile.xyz/api/index","name":"Stonkpile index (public API snapshot, 26 Sep 2026)","type":"on_chain","credibility":2}],"severity":"high"},{"content":"Given that only a small fraction of the 1,124 Solana tokens labeled \"xStocks\" in the catalogue actually trade, and given the broader prevalence of copycat token names on Solana, the aggregator behind the Stonkpile index reported observing approximately 930 Solana tokens containing the string \"xStock\" in their name, describing almost none of them as genuine Backed-issued xStocks, and cited an example of a fake \"AAPLx\" token (nicknamed \"Applex,\" mint address QdxeV82MWs4ddvymLhGFyWTJSBXBjje6YFnQbrXHTmJ in the cited snapshot) trading alongside the genuine AAPLx token (mint XsbEhLAtcf6HdfpFZ5xEMdqW8nfAvcsP5bdudRLJzJp). This specific count and example originate from a single independent aggregator's public commentary rather than an official Backed/Kraken warning or a Tier-1 investigative source, so the precise figures should be treated as low-to-medium confidence; however, the general pattern of impersonation/lookalike tokens being common on permissionless Solana token creation is independently well documented in the broader crypto-security literature. Investors should verify official Backed/Kraken-published mint addresses before trading anything labeled as an xStock rather than relying on token name or ticker alone.","heading":"Impersonation and Lookalike Token Risk","sources":[{"url":"https://stonkpile.xyz/api/index","name":"Stonkpile index (public API snapshot, 26 Sep 2026)","type":"community_report","credibility":3}],"severity":"high"},{"content":"xStocks are distributed principally through Kraken (Kraken Pro spot markets, quoted in USD and USDT, tradable around the clock) and are also referenced in third-party exchange support documentation, including Bybit's help center FAQ on xStocks, indicating listing or referencing of xStocks products beyond Kraken itself. The underlying tokens are also composable in DeFi (e.g., cited as usable collateral in protocols such as Falcon Finance), meaning risk exposure to xStocks can arise indirectly for users who never interact with Kraken or Backed directly, through DeFi lending, collateral, or liquidity-pool positions built on top of the tokens.","heading":"Distribution: Kraken, Bybit, and Other Venues","sources":[{"url":"https://www.kraken.com/pro/xstocks","name":"Kraken — Tokenized Stocks and ETFs on Kraken Pro","type":"official","credibility":1},{"url":"https://www.bybit.com/en/help-center/article/FAQ-xStocks-on-Bybit","name":"Bybit Help Center — FAQ: xStocks on Bybit","type":"official","credibility":2}],"severity":"low"}],"timeline":[{"date":"2022-11","event":"Reporting cites a custody agreement between Backed Finance and Swiss bank Maerki Baumann & Co. AG, dated around November 2022, underpinning Swiss custody of underlying shares.","source":"getrealstocks.com — Backed xStocks overview","source_url":"https://getrealstocks.com/stock-tokens/backed-xstocks"},{"date":"2025-12-02","event":"Bloomberg reports Kraken has agreed to acquire Backed Finance, the tokenized-asset issuer behind xStocks, as part of Kraken's tokenization push ahead of a planned IPO.","source":"Bloomberg","source_url":"https://www.bloomberg.com/news/articles/2025-12-02/crypto-firm-kraken-acquires-backed-finance-in-tokenization-push","date_evidence":"Bloomberg article dated 2025-12-02: \"Crypto Firm Kraken Acquires Backed Finance in Tokenization Push\""},{"date":"2026-09","event":"The U.S. SEC reportedly announces an Innovation Exemption creating a temporary five-year framework (to 2031) for Tokenised Securities Venues to trade tokenized NMS stocks, requiring tokens to carry full shareholder rights (including voting and dividends) to qualify — a bar that reporting says xStocks does not clear in its current form.","source":"Finance Magnates","source_url":"https://www.financemagnates.com/cryptocurrency/regulation/sec-opens-onchain-stock-trading-but-existing-tokens-may-not-qualify/","date_original":"2026-09-17"},{"date":"2026-09","event":"Reporting describes a memecoin (\"BONER\") cornering roughly half to 81% of the onchain float of a tokenized Hims & Hers Health token on a competing issuer's chain (\"Robinhood Chain\"), causing the token to trade at up to a 93% premium to the real share price over a market-closed weekend before new supply minting corrected the price — illustrating a float-squeeze risk mechanism relevant to the tokenized-equity sector generally, including xStocks' Solana listings, though not a confirmed xStocks-specific incident.","source":"The Defiant / Phemex News","source_url":"https://thedefiant.io/news/tokens/a-memecoin-called-boner-has-cornered-half-the-tokenized-hims-and-hers-float"},{"date":"2026-09-26","event":"A third-party Stonkpile index snapshot records 1,124 xStocks-labeled tokens listed on Solana versus only 31 with meaningful liquidity actually trading, alongside roughly 930 lookalike \"xStock\"-named tokens and material cross-issuer price divergence in thinly-traded tickers.","source":"Stonkpile index","source_url":"https://stonkpile.xyz/api/index","date_evidence":"Stonkpile index snapshot taken 2026-09-26 05:17 UTC"}],"sources_used":[{"url":"https://docs.xstocks.fi/docs/product-legal-overview","name":"xStocks Docs — Product Legal Overview","type":"official","archive_url":"http://web.archive.org/web/20260923020647/https://docs.xstocks.fi/docs/product-legal-overview","credibility":1,"archive_timestamp":"2026-09-23T02:06:47+00:00"},{"url":"https://www.kraken.com/legal/xstocks","name":"Kraken — xStocks Risk Disclosure","type":"official","archive_url":"http://web.archive.org/web/20260919053935/https://www.kraken.com/legal/xstocks","credibility":1,"archive_timestamp":"2026-09-19T05:39:35+00:00"},{"url":"https://www.kraken.com/pro/xstocks","name":"Kraken — Tokenized Stocks and ETFs on Kraken Pro","type":"official","archive_url":"http://web.archive.org/web/20260910013309/https://www.kraken.com/pro/xstocks","credibility":1,"archive_timestamp":"2026-09-10T01:33:09+00:00"},{"url":"https://www.allium.so/blog/xstocks-tokenized-stocks-you-dont-legally-own/","name":"Allium — xStocks: Tokenized Stocks You Don't Legally Own","type":"research","archive_url":"https://web.archive.org/web/20260926062730/https://www.allium.so/blog/xstocks-tokenized-stocks-you-dont-legally-own/","credibility":2,"archive_timestamp":"2026-09-26T06:27:30+00:00"},{"url":"https://www.bloomberg.com/news/articles/2025-12-02/crypto-firm-kraken-acquires-backed-finance-in-tokenization-push","name":"Bloomberg — Crypto Firm Kraken Acquires Backed Finance in Tokenization Push","type":"news_article","archive_url":null,"credibility":1,"archive_timestamp":null},{"url":"https://www.theblock.co/post/381095/kraken-to-buy-backed-finance-in-tokenization-push-ahead-of-ipo","name":"The Block — Kraken to buy Backed Finance in tokenization push ahead of IPO","type":"news_article","archive_url":"http://web.archive.org/web/20260112120616/https://www.theblock.co/post/381095/kraken-to-buy-backed-finance-in-tokenization-push-ahead-of-ipo","credibility":1,"archive_timestamp":"2026-01-12T12:06:16+00:00"},{"url":"https://www.ledgerinsights.com/kraken-acquires-backed-after-xstocks-tokenized-securities-volumes-hit-10-billion/","name":"Ledger Insights — Kraken acquires Backed after xStocks tokenized securities volumes hit $10 billion","type":"news_article","archive_url":"http://web.archive.org/web/20260411121042/https://www.ledgerinsights.com/kraken-acquires-backed-after-xstocks-tokenized-securities-volumes-hit-10-billion/","credibility":2,"archive_timestamp":"2026-04-11T12:10:42+00:00"},{"url":"https://www.financemagnates.com/cryptocurrency/regulation/sec-opens-onchain-stock-trading-but-existing-tokens-may-not-qualify/","name":"Finance Magnates — SEC Opens Onchain Stock Trading, but Existing Tokens May Not Qualify","type":"news_article","archive_url":"http://web.archive.org/web/20260919004246/https://www.financemagnates.com/cryptocurrency/regulation/sec-opens-onchain-stock-trading-but-existing-tokens-may-not-qualify/","credibility":2,"archive_timestamp":"2026-09-19T00:42:46+00:00"},{"url":"https://thedefiant.io/news/tokens/a-memecoin-called-boner-has-cornered-half-the-tokenized-hims-and-hers-float","name":"The Defiant — A Memecoin Called BONER Has Cornered Half the Tokenized Hims & Hers Float","type":"news_article","archive_url":null,"credibility":2,"archive_error":"error:no-request","archive_status":"unarchivable","archive_timestamp":null},{"url":"https://phemex.com/news/article/solana-memecoins-tokenized-hims-hers-squeeze-fake-nasdaq-clone-cronos-rollback-set-for-live-breakdown-95426","name":"Phemex News — Solana Memecoin Corners 81% of Tokenized Hims & Hers","type":"news_article","archive_url":"http://web.archive.org/web/20260926125920/https://phemex.com/news/article/solana-memecoins-tokenized-hims-hers-squeeze-fake-nasdaq-clone-cronos-rollback-set-for-live-breakdown-95426","credibility":2,"archive_timestamp":"2026-09-26T12:59:20+00:00"},{"url":"https://phemex.com/academy/what-is-backed-finance","name":"Phemex Academy — What Is Backed Finance?","type":"research","archive_url":"https://web.archive.org/web/20260926085316/https://phemex.com/academy/what-is-backed-finance","credibility":2,"archive_timestamp":"2026-09-26T08:53:16+00:00"},{"url":"https://getrealstocks.com/stock-tokens/backed-xstocks","name":"getrealstocks.com — Backed xStocks overview","type":"other","archive_url":"http://web.archive.org/web/20260926130627/https://getrealstocks.com/stock-tokens/backed-xstocks","credibility":3,"archive_timestamp":"2026-09-26T13:06:27+00:00"},{"url":"https://www.bybit.com/en/help-center/article/FAQ-xStocks-on-Bybit","name":"Bybit Help Center — FAQ: xStocks on Bybit","type":"official","archive_url":"http://web.archive.org/web/20260907073016/https://www.bybit.com/en/help-center/article/FAQ-xStocks-on-Bybit","credibility":2,"archive_timestamp":"2026-09-07T07:30:16+00:00"},{"url":"https://stonkpile.xyz/api/index","name":"Stonkpile index (public API snapshot, 26 Sep 2026)","type":"on_chain","archive_url":"http://web.archive.org/web/20260926084440/https://stonkpile.xyz/api/index","credibility":2,"archive_timestamp":"2026-09-26T08:44:40+00:00"}],"source_tags":[],"addresses":[],"reviewed":false,"reviewed_by":null,"model_used":"claude-code-investigator","created_at":"2026-09-26T05:26:15.504163+00:00","updated_at":"2026-09-26T20:00:58.064064+00:00"}}