Bitfinex Warns Tokenized Assets Are Only as Liquid as Their Exit

TL;DR Bitfinex argues tokenized securities are not automatically liquid because investors still need counterparties, reliable pricing and an effective route back to cash or underlying assets. DTCC’s upcoming service addresses that exit problem by letting institutions convert securities directly into tokens and back while DTC remains the legal depository. Hong Kong and U.S. frameworks show liquidity can still depend on market makers, arbitrage and redemption access, especially...