Tokenized Stocks Failed Twice Before: Mirror, Synthetix, Binance and FTX
- —MIR traded at $0.000936 on 29 September 2026, down roughly 99.99% from its $12.86-$13.14 peak
- —SNX traded at $0.256, down about 99.1% from its $28.86 all-time high on 14 February 2021
- —Synthetix shut its synthetic stock tokens via governance vote in September 2021, eight months before UST collapsed
- —Binance and FTX both used the same German custodian CM-Equity AG, yet Binance shut its product within six months
Why it matters: It shows which safeguards — named custodians, a Security Agent, proof-of-reserve checks — distinguish today's tokenized-stock wave from its failed predecessors.
Source: Coinpaprika News