Genius Terminal, an onchain trading platform operating on the BNB Chain, launched a new platform called genius.fun on Thursday. Following a post from Binance founder Changpeng Zhao, which consisted of a single clap emoji, the price of the GENIUS token rose to $0.42. The token currently maintains a market capitalization of approximately $118 million.
Despite the price spike, the token remains below its April peak of $0.95. Zhao subsequently stated that he did not check the token's chart and attributed the market movement to the project's own product release. He noted that he frequently posts about projects demonstrating progress within the BNB Chain ecosystem.
The Genius Foundation, the team behind the token, previously launched an onchain options exchange in June. The new genius.fun platform allows users to pair new tokens with tokenized public company shares, referred to as bStocks. The team claims these positions can be unwrapped into real equity, potentially enabling holders to participate in corporate governance.
While the concept of tokenized stocks is being tested, no campaign has yet acquired a stake in a listed company. Traditional market participants have expressed skepticism regarding the validity of these stock tokens, with the CEO of AMC describing them as fake equity. BNB Chain continues to be a prominent venue for the trading of such assets.
