According to StockMKTNewz, Nippon Steel has finalized its $14.1 billion acquisition of US Steel, marking the end of US Steel's independent listing under the $X ticker (source: StockMKTNewz, June 18, 2025). This high-profile M&A deal underscores growing global consolidation in traditional industries, prompting traders to watch for capital flows out of legacy equities and into alternative assets such as Bitcoin (BTC) and Ethereum (ETH). The closure may also impact tokenized equity products and synthetic stocks on crypto exchanges, as $X ceases to exist as a listed security.

According to Balaji (@balajis), the tech M&A era is potentially concluding, while the crypto era may be commencing. This shift is attributed to new policies that complicate IPOs and M&A for startups, but facilitate the sale of equity-backed security tokens online, presenting new trading opportunities.