Even though the chaotic battles among major interest groups might cause the market to bleed, once the dust settles, we’ll see who’s truly determined to scale up the grand mission of tokenized stocks. Keep in mind, the core of this new narrative is tokenized stocks. This includes on-chain coverage scale, on-chain liquidity depth, and DeFi integration. Of course, the most critical and challenging part is managing the relationship between tokenized debt securities and real stocks. So, who’s just hyping up the narrative with empty talk, and who’s actually breaking down all barriers to *legitimately* build the tokenized stock business? Where should we really focus our attention? Pretty clear now, isn’t it?