This is a reflection I wrote at the end of August, and I didn’t expect the surprises to keep coming. The U.S. SEC’s innovative exemption has directly opened up a bigger stage for securities tokenization. I’m also pleasantly surprised to see various exchanges finally making some major breakthroughs within their capabilities: 1. Robinhood has, for the first time, achieved the on-chain integration of stocks and introduced a combination of on-chain stock memes + DeFi gameplay; 2. Binance has, for the first time, implemented the bulk introduction of stock tokens into the exchange as spot trading, and may potentially use BNC to achieve true on-chain reverse influence on the traditional stock market landscape; 3. Coinbase, as a U.S. exchange, has finally launched the first stock meme accessible to U.S. investors: bluechip