Bitget Launches US Stock FCN Fixed Coupon Notes with Up to 71% APR

This is a crypto exchange pushing further into TradFi-style structured products, a direction that matters less for the headline yield than for what it signals about platform competition. The real audience is crypto-native users who want equity exposure without leaving the exchange, and the real question is whether such notes are genuinely sold or simply manufactured and warehoused by the platform itself. Whether the underlying hedging is disclosed, and whether similar products spread across rival exchanges, is the open question.