The Senate shot down that crypto bill, but regulators turned around and opened a backdoor. The biggest gainers? Crypto stocks. Tokenized stocks are getting a five-year pilot program. Coinbase filed with the CFTC on Friday to list over 50 single-stock perpetuals. Now you can trade Apple and Nvidia 24/7 on-chain. On Friday, $COIN jumped 11% in a day, the biggest gainer in the S&P 500. $MSTR was up 16%, topping the Nasdaq 100. Stock trading accounts going after crypto stocks are hitting harder than the crypto market itself. But after the weekend, it all got wiped out. This line is even shakier than crypto prices. Yesterday, I leveraged $ZEC and needed a way out. Today, it dropped 4%. Leverage in crypto is flatlining. Short accounts outnumber longs. I’m betting on the crypto stock line, and it’s running further than crypto prices. The backdoor just opened, but the money hasn’t fully moved in yet.