Binance to pay TSM and CRM cash dividends via bStocks

This tests whether tokenized equities can replicate the full holder experience, not just price exposure. Dividend mechanics — withholding taxes, fees and deductions — are where the model's economics get tested, and the reinvestment rather than cash payout means token holders receive no optionality on the distribution. The eligibility snapshots create a narrow window that may concentrate attention on the tokens around those dates. Whether the net-of-deductions treatment matches what direct shareholders would receive is the open question.