Exchanges and public chains are all using the meme stock approach to grab traffic and market attention. But honestly, the most important thing is to secure a voice in the future of RWA. You’ve got to believe this—this isn’t a short-term trend, it’s a long-term one. Binance, Robinhood, and Coinbase will spare no effort in pushing this forward. We’re already seeing the hype around the Solana chain picking up. The key driver here is that xStocks has completed deployment on major public chains, so there’s no issue on the asset side. Binance’s current model, on the other hand, seems to have some issues. Binance is trying to develop its own bStocks, and their strategy is to directly launch spot trading to build depth. But spot trading has market cap requirements, which means the variety of playable assets on-chain is pretty limited. Other chains, however, can leverage xStocks and Ondo tokens to build on-chain hype and secure their voice in the space. For Binance, the only way to fight back is through the meme model, but that doesn’t create any synergy with Wall Street. If they give way to other token protocols, it would weaken bStocks. So, I think this is where Binance is currently facing some internal contradictions.