It's ironic that Bitcoin and Ethereum are dropping just as the future of tokenized securities and stablecoins is taking shape. In seven years in this industry, I have never seen fundamentals and price drift this far apart. The ex-BlackRock IBIT team is building a tokenized-stock DEX (@hellotradeapp), the Robinhood founder is doubling down on tokenized securities, and @saylor is laying the foundation for a Bitcoin bank and digital credit. I have always believed in this technology, but part of me still felt crypto lacked real fundamentals. Now, as TradFi and crypto converge, it is clear that far more is being built than most traders realize. Bitcoin and Ethereum sit at the center, and top fintech and TradFi talent is flowing in. If you still think crypto is following classic cycle theory, imagine buying Tesla stock on a DEX three years from now and ask what Bitcoin and Ethereum would be worth in that world. These are no longer assets for quick gains.(Ki Young Ju)