Adding a few points: 1. Tokenizing US stocks and everything else is the trend, and stablecoins are essential trading pairs—specifically, compliant stablecoins. 2. Many people don’t understand the difficulty of issuing a stablecoin. It’s not just about backing; it’s about establishing on-chain liquidity, integration with exchanges, network trust, etc. Interest subsidies are the least significant part—what CRCL can do isn’t really an advantage. 3. AI AGENT will bring a new growth curve. 4. Stablecoins are the second growth curve for the US dollar and US Treasury bonds. 5. In the crypto space so far, only a few have truly succeeded: Bitcoin, stablecoins, public chains, and trading. 6. Stablecoins are currently the largest application in the crypto space and the only one that has achieved large-scale real-world adoption through payments, yield generation, and more.