😂I didn't want to talk too much to avoid it turning into an argument. But some basics still need to be clarified.

The problem with this statement is that it mixes "whether there is a clearing license" and "whether the stocks are the customers'."

I 100% agree that a clearing license is indeed a dividing line for the strength of brokers. This is also an advantage for leading brokers like IBKR, Schwab, and Fidelity. However, lacking self-clearing capability does not mean that the stocks purchased by customers are not their own.

If that were the case, there wouldn't be a business like Introducing Broker, and the SEC wouldn't have a regulatory need for Introducing Brokers; they would simply judge it as non-compliant. But in reality, the SEC does not judge it this way.

The U.S. securities market fundamentally operates under a street name or beneficial ownership structure. The vast majority of retail investors buying U.S. stocks do not have the stocks registered directly under their names, but rather under the broker, clearing agency, or nominee, with customers reflecting beneficial ownership through the broker's books.

For example, if you buy Nvidia on IBKR, the DTCC ledger will not directly list your personal name. This is very basic knowledge, and it's quite pointless to keep bringing up this issue.

There's actually another key point, which is that from the transfer information, you can see that when transferring from another broker to BIT, the broker name is Matrix Gelephu Pte Ltd, DTC is DTC#4305, the Account Number is filled as “Your BIT securities account number,” and the Account Name must match the name of the account you are transferring from.

This at least indicates that BIT's U.S. stock business is not false; it has indeed connected with the U.S. clearing DTC link, and there is the service entity Matrix Gelephu and DTC participant RQD Clearing. At the very least, there is a real securities transfer link, not just a purely fake stock database.

😂Finally, I will say again that what I am saying here does not hold much significance; let's just let time settle it.

If BIT's U.S. stock or stablecoin deposit and withdrawal business encounters issues, I will promptly report it to the relevant regulatory agencies and judicial channels, including Singapore MAS, BVI FSC, and the regulatory agency in the jurisdiction where the actual service entity is located. At the same time, I will pursue the civil, regulatory, and even criminal liability of the relevant legal entities and responsible parties based on the account agreement, flow of funds, actual control relationships, and information disclosure.

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