tZERO is a blockchain-powered trading platform for securities, such as equities and bonds, as well as, more recently, crypto tokens related to Beyond's intellectual property.

Beyond, Inc. (BYON) shares surged over 22% to their highest level since October on Monday, after the company's chief executive batted for a plan to hive off and independently list the company's blockchain business, tZERO.

In a letter to the company's board, CEO Marcus Lemonis urged the management to consider the public route in a "blockchain-favourable market" to advance tZERO's business and "reward shareholders meaningfully."

tZERO's shareholders include ICE, the parent company of NYSE.

According to the letter, reshared by Lemonis on his X account, he urged the board to launch a due diligence process and engage advisors to explore options, which may include an IPO, direct listing, or a SPAC merger.

The Donald Trump administration's crypto-friendly stance has given the industry a significant boost. Major crypto assets have climbed in recent months, including a sharp rally last week as the U.S. moved forward on key regulations, most notably, a bill to oversee stablecoins.

Founded within Overstock in 2014, tZERO is a blockchain-powered trading platform for securities, such as equities and bonds, as well as, more recently, crypto tokens related to the company's intellectual property. 

It operates as an SEC-registered Alternative Trading System (ATS) and is exploring the tokenization of real-world assets, such as real estate and sports team ownership, into tradable securities.

Beyond rebranded itself from Overstock in 2023.

On Stocktwits, the retail sentiment for BYON stock shifted to 'extremely high' from 'high,' while message volume increased by 3,300% over the previous day.

BYON sentiment and message volume as of July 22 | Source: Stocktwits

“The bull case is Tzero being one of a handful of SEC-approved custodians of tokenized assets. Think about all the private assets like sports teams, real estate, and even public assets like Nvidia being digitalized," a retail user said in their post.

BYON shares are up 120% year-to-date.

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