Sonic Labs reveals plan to launch Sonic USA LLC

Sonic Labs has earned near-unanimous community approval to issue $200 million worth of its S tokens to expand into the U. S. market, including creating a proposed exchange-traded product and a Nasdaq-listed investment ￰0￱ community vote closed Sunday, recording 99.99% support from 105 participating wallets. Plus, with over 700 million tokens involved, the proposal comfortably met the S token participation ￰1￱ the vote, Sonic shared on X, saying , “Sonic is ￰2￱ ￰3￱ tuned.” Sonic revealed plans to launch Sonic USA LLC Sonic plans to back a Nasdaq-listed PIPE (Private Investment in Public Equity) vehicle with S tokens worth $100 million , plus another $50 million will fund an ETP (Exchange Traded Product) on the S token, which will be custodied by ￰4￱ to the company, the ETP is set to be issued by a prominent regulated ETF issuer with significant assets under ￰5￱ in 2013 and headquartered in Palo Alto, California, BitGo is one of the largest crypto custody firms in the ￰6￱ its services go beyond storage—clients can also borrow, lend, and trade directly on the ￰7￱ earlier reported by Cryptopolitan, from January to June, BitGo’s assets under management reportedly surged from $60 billion to $100 ￰8￱ company attributes this growth to stronger regulatory frameworks and rising crypto ￰9￱ investors, including Goldman Sachs, DRW Holdings, Redpoint Ventures, and Valor Equity Partners, now find themselves eyeing a potential public ￰10￱ company recently filed for an IPO confidentially, just as crypto markets continue to climb and Washington finally acknowledges the industry’s ￰11￱ advance their strategic interests in the United States, Sonic is also establishing Sonic USA LLC, led by New York employees who will lead the firm’s activities in Washington, D.

C., and more broadly in ￰12￱ far, its recently opened office is funded with 150 million S tokens, worth nearly $47.7 ￰13￱ rebranded to Sonic and officially launched in December 2024, in which FTM tokens were converted to S on a 1-to-1 ￰14￱ then, Fantom Foundation had less than 3% of the beginning supply left, focusing more on buybacks than ￰15￱ Sonic’s team says the old token structure was holding back its growth, keeping it from strategic deals with companies such as GameStop, Robinhood, and Polymarket, and holding up early listings on major exchanges. Reportedly, with so little supply held, only a fraction of what other similar projects hold, around 50%, Sonic was said to be buying tokens from the open market to fulfill its plan’s ￰16￱ firm even commented, “We have 2018 ￰17￱ need 2025 tokenomics.” Sonic wants to change its gas mechanism to address the added issuance Sonic is also trying to recreate its gas mechanism to combat new tokens in circulation, which will burn a larger percentage of fees, thus reducing inflation and creating long-term deflationary ￰18￱ approach will enable the company to interact with traditional finance instruments, such as ETFs and PIPEs, while safeguarding token holders.

However, the S token has dropped around 69% since January, according to figures from ￰19￱ blockchain company was also mentioned among the participants of an effort by the ￰20￱ of Commerce to put economic data on-chain using Chainlink and Pyth ￰21￱ integration would allow developers to incorporate ￰22￱ data directly on the Sonic ￰23￱ company added that it has the potential to unlock completely new use cases, from making trading strategies based on economic data to using macro data for on-chain lending Sign up to Bybit and start trading with $30,050 in welcome gifts