Backpack Lists Micron, SanDisk Shares as Margin Collateral

This move blurs the line between crypto-native collateral and traditional equities, signaling that exchanges are increasingly treating blue-chip stocks as viable risk assets. The lack of specified haircuts and liquidation thresholds matters because those details determine actual risk exposure for leveraged traders. For market watchers, the open question is whether other exchanges follow suit, which could deepen the integration of TradFi instruments into crypto margin frameworks.