The Wolf Of All Streets - “QUADRILLIONS” Are HERE! Bitcoin & Crypto Are About to Change Forever

Episode Date: January 8, 2026

Today we’re diving into Canton Network with Digital Asset CEO Yuval Rooz—and why it’s suddenly at the center of Wall Street’s “real onchain” moment: DTCC is mapping tokenization and identifying Canton as a supported network as it moves regulated assets on-chain, while JPMorgan is bringing JPM Coin onto Canton as part of its always-on settlement push. The big takeaway: this isn’t about memecoins—it’s about bringing the pipes of traditional finance onchain, where quadrillions of dollars in securities activity could eventually be represented and settled through tokenized workflows, changing how collateral, liquidity, and market infrastructure work in 2026 and beyond.

are coming into Bitcoin in crypto, and it is happening right now. I don't throw around numbers like quadrillions lightly. I actually thought I would never have to say the number quadrillions, but here we are, and this is not hyperbole. I'm going to unpack exactly what quadrillions means in the context of what's happening with the crypto market and institutional adoption with the man who is actually tokenizing those quadrillions. That is, you've all ruse from Canton.

network. We've been trying to get him on for a while here. You've heard me talking about it. So I'm really excited to have him here today. We're going to unpack how zillions and bagillions are coming into crypto right now. Let's go. Good morning, everybody. And welcome to the show. I hope that you're all having a wonderful Thursday. I just realized that I accidentally left a tangerine, LeCroix, sitting here on the desk. So I would like to know that we are officially sponsored by LeCroix.

In France, they pronounce it Lecois, I believe. And this one is tangerine flavored. Although, I'm going to be honest, I know there's not what you guys are here for, but I think it's a stretch to call it flavoring. It's like they took a tangerine and cut it in the next room and then threw the scent into the room and it landed slightly in the can And there we got Tangerine LeCroy. I'm going to go on and bring on Yuval before I embarrass myself any further.

Good morning, sir. How are you? What's going on? Is it Scott or the Wolf? You know, Wolf Scott, Scott Wolf, Teen Wolf, I prefer Teen Wolf. Team Wolf. That was a great movie. I'm going to put this Drake down right here.

So I have a fake city. You have a real city behind you. Where are you calling in from today? We're down in World Trade. Yeah. Yeah. The big city where the real corporate and institutional adoption is happening.

So listen, let's talk. What the quadrillions are. Where the quadrillions are. Like, I, you know, I'm old enough to remember when a trillion was a lot of money. Well, we're going to change that. Okay. So this is, but this is not hyperbole, as I said in the introduction. We had this piece of news a few weeks ago that really just was a massive eye-opener.

It was actually in a week of these announcements that sounded absolutely insane. You had Paul Atkins, the chairman of the SEC. remember the timeline correctly he came out and said we're going to put the entire united financial system you know on crypto rails by next year and i went what 2026 and then i believe it was the next day or two days later we had this announcement from the dcc that they had received a no action letter from the cc saying basically all systems go uh for tokenization and they said by next year that basically we will be kind of trying to tokenize everything, moving their antiquated systems onto crypto rails. And then the real hit came Canton Network, right? And If Maxis and the Salana

community coped their faces off and they freaked out and they said, Canton Network, what? And here we are. So quadrillions. Like let's talk about the volume that the DCCC does so that people don't think we're just blowing smoke. Yeah. So first of all, most importantly, I think you need to go into your X account, you unfollowed Canton Network. So I think you need to... There's no way. So listen, I don't know if you know this about X, but it does that all the time. Like I get these people tell me that all the time.

You unfollow me. I'm like, what? I don't even, I don't need, first of all, I barely touch my account. But, and then people tell me that they were following me and they no longer are and have no idea how. This has been happening for years. I'm going to do it right now, Canton. Oh, oh.

Look, yeah, you're wrong, man. I'm going to show you. I've got it right here. I did not. This is, this is proof. We're doing this on live television right now. Amazing.

But it shows me following you. Amazing. All right. See? Right. Done. So, maybe,

maybe just a bit of context to the word quadrillion. So, so, you know, and we'll talk about it. I lost it. We've been added for 11 years now. And,

you know, when we started, when we started the company to create, create Canton. We actually bought a domain name called digital asset.com. And I think it costs us $5,000 or $10,000, something like that back then. And the vision was that every asset in the world will become a digital asset, as Chairman Atkins is saying. And when you think about the DTCC, the DTCC, you know, manages over 100 or just close to $100 trillion worth of assets. And they do process quadrillions of dollars every year. So when we when we decide to launch a podcast to talk about

tokenization, we wanted to re-ancher the crypto community around the opportunity because I think we keep on talking about billions and really the opportunity is quadrillions. Yeah, I mean, and you even have Carolyn Pham of the FTC fame saying quadrillions people right here. Obviously, this was a, I think, I believe, a podcast you did with her and with my good friend Jason Yanowitz, but we're not the only crazy is throwing this around. So what does it mean to actually move quadrillions on rails through Canton Network? What are the mechanics? How do we get to that point? Is it something that takes time to scale? Could you turn it on right now? I mean, yeah, it's just such a big number. It blows my mind. Yeah. So I think that maybe the first thing is

About 10 years ago, when we started developing Canton, our thought process was that if we want to get to these type of numbers, it means that we do need to get institutional adoption. And Scott, you talk a lot about, you know, Wall Street and what does it mean to have institutional players do certain things. And therefore, for us, the lack of privacy on crypto rails was a huge hindrance. to getting institutional adoption. And building a public blockchain with privacy is not a trivial task. So that was one of the biggest modes, in our opinion, that helped us get these type of institutions, and then scalability. Now, to say, can we just turn it on right now?

The answer would be no. And not because of necessarily just technology, but it's also like the street. actually figuring out what does it mean to move assets on chain requires legacy systems change operational systems change like how do you think about risk as you can imagine if we're going to start moving trillions of dollars over the weekend how do we manage collateral margin calls those type of things so it's going to take time but you know already with some of our customers we are moving hundreds of billions of dollars of collateral every day uh is one of those customers, notorious crypto lovers, J.P. Morgan, because we know that Jamie Diamond deeply loves us.

I know that he is not his institution. I just love making Jamie Diamond jokes. But J.B. Morgan, no additional comments needed. Super excited to see more Tradfive, fully composable D.T.s on chain. And this is the headline. J.B. Morgan brings JPM coin to Canton. Second extension after launching on base. You guys, winning. I hope that this year we will be moving a lot of value with J.P. Morgan coin, but no, the one that came to mind is Broderidge, who started moving collateral for U.S. Treasury repo, and they are today close to almost 10% of the daily volume in the U.S. repo market. So the repo market in the U.S. today again big numbers is five trillion dollars of notional every day and they do uh over 300

i think they got close to 400 billion of daily volume um last year haven't looked at it in the last a few days and no problem moving that on these rails knock on wood and so far we didn't have any any issues i mean the numbers are just absurd and it just blows my mind that all this is happening when we have sentiment in the dump and people feel like we're in a bare market and nothing's happening and talking about that there's been no meaningful level of adoption, maybe that's just because the tokens they're holding haven't gone up so they don't see it. Maybe. I do think that as an industry, we've done more talking than doing, and that is not a healthy ratio. And, you know, the reason why you haven't heard about Canton,

is we've been, we made a decision from a go-to-market is let's do, be able to convince large-scale institutions to adopt the technology. And we believe that, you know, there's enough, enough substance to talk about, like with, you know, people like yourself, then we'll start making it more publicly available and, you know, let the world know. And I actually think that that's a big contribution for some of the positive momentum over the last few months. Can you talk to me more about J.P. Morgan token, coin, what it actually is. It seems like a veiled in secrecy as to how they actually use that and what your role would be in moving that. Yeah. So, I mean, listen, you know, I think that if we put aside Jamie Diamond's opinions about crypto,

I actually think that J.P. Morgan is an extremely commercial organization. and they wouldn't be the largest bank otherwise. And they definitely understand the value of blockchain rails. And he's coming around, by the way. So, like, I mean, it used to be all negative, all rat poison, you touch it, you're out of here. And now he's on TV in the last few weeks saying, blockchain is real. Yeah. Well, you know, you could trace back J.P. Morgan, I would say, have been doing blockchain for the last 10 years. And like I said, I think that they are extremely commercial, they are tech savvy, they understand the capabilities, and they, you know, have been quietly building capabilities behind the scenes, tokenized deposits, and now recently, as announced, J.P. Morgan StableC.C.C.C.C. And I think that what their strategy, and I'm not saying that from knowledge,

but just kind of like thinking about it from the outside is there are advantages for stable coins. There are advantages for tokenized deposits. And I think what you're seeing is that entities like JPMorgan are going to offer all of those types of options in different channels, which you could think about the chains as channels, and they're going to let the best product win. So I think that there has been a massive demand for high quality cash online. ledger, high demand, high demand for really high quality. And J.P. Morgan, whether we like them or not, I like them, but, you know, others might not. They are very high quality balance sheet to transact with.

And if you're thinking about all the quadrillions that you need to settle, that would be a good example of a place where you could do that. Yeah, that makes perfect sense. And once again, I mean, they have, I don't know how many tens of thousands of employees J.P. Borgon have, but it's certainly not a monolith, and I don't think that his past opinions are reflective of J.P. Borgon's actual actions in the space. So what I want to talk about now is kind of more theoretically, let's say we start moving quadrillions, right? The DTCC fully adopts this. Do you think that this is a replacement rail, or do you think that this is sort of ancillary or parallel to what already exists? Are we literally on a path to, you know, T plus one second settlement?

as opposed to T plus 2, T plus 1, and the evolution that we've seen in the past? I mean, is this going to be 24-7, 365? Is this a full wholesale replacement of the current system? So, first of all, I do think that long-term, it's a wholesale replacement of the system. I think it will take time. One thing that you said, are we on our way for T-plus one second or 10 seconds? I think we're on the way for T plus best time to settle seconds. And what I mean by that is there are advantages from a risk to kind of capital efficiency,

not necessarily to settle every transaction. Netting is a nice thing if you can manage the risk to net. So I think that the technology gives you the capability to settle everything in real time. But what I think we're going to see is that we're going to start being able to settle assets at the most optimal time where we have to move the least amount of assets versus the least amount of cash. So let's talk about then

the future of institutional adoption of the asset class. I know that Agostino from Coinbase was on CNBC and made waves the other day sort of made the point that we've all been making forever is that every institution on the planet now has a crypto plan. Right? Like whether they may be at differing levels

of the sliding scale, but now I happen to also believe that if you walk into your company as the CFO or the technology officer and say, I have no idea what I'm doing in crypto, you're probably getting fired, which is the opposite of how it was three or four years ago. And if you were the crypto guy, you probably did get fired. But far back, Scott, it's like last week. Last week. So, you know, assuming that the DCC takes the lead, that the United States government actually starts to put these things on rails, that we have the JP Morgan's, what does this

look like for all of the other institutions? I mean, is it a wholesale replacement for them as well? I think long term, yes. I think long term, absolutely. And I think what short term you will see is that there will be some bridges, no pun intended from this space, but there will be some bridges that allow, you know, some of the smaller players to slowly, slowly integrate into the technology because again wholesale replacement is expensive it's not it's not a cheap undertaking and those those large players that have the balance sheet and you know the the budget they can they can lean in faster so I do think that it's a wholesale replacement of the whole system in the next I don't know 10 to 20 years I think that it will be gradual I think you will see the large players adopted

it first, just because it means much more to them from a revenue cost, cost minimizing point of view. So from your perspective, do you continue to try to build further partnerships with the other large institutions? How much competition is there among the different protocols and what does that actually look like? Because it seems like, obviously, you're not the only one who would want to be, you know, tokenizing trillions and assets.

Yeah, so to be clear, for example, with respect to the DTCC, we don't really have an exclusivity there. We were fortunate enough to be the first to go, but, you know. I think it's actually on their site that it will, I have it right here. DTC tokenization service will support various public and private blockchain networks that meet the standards as described and the SEC's no action letter. So, yeah, obviously there will be others at some point. Yeah. So in terms of competition, you know, I think we haven't launched Canton with a mission state. meant to replace X, Y, Z, not Ethereum, not Solana.

I think that for us, we came at it from how do we get as much institutional flow on chain. And therefore, we build different technology with different requirements that for us was critical, in our opinion, for those said institutions. So, you know, we've had multiple conversations with other L-1s about collaboration. They have different properties and different communities that could actually take advantage of assets that are on Canton. And there's also things that Canton can benefit from some of those communities. So I don't view what we're doing as competitive. But of course, as we know in today's world, everybody's fighting for attention.

and there is a coin price associated with it. So as you said, a lot of people didn't appreciate a can't on coming out of nowhere and suddenly announcing all of these partnerships. It must have been just a really good time for you behind the scenes because I saw what was happening publicly and I was laughing, laughing very hard. I want to double click on something you mentioned earlier, which is that you went right into privacy when you talked about what they would want. think that most people would view it something like the DTC or the government of the institutions

and think they wouldn't care about privacy because the knee-jerk reaction of crypto people is that privacy is probably not a priority to the largest institutions but you say obviously that it is and I think that we've actually seen that as sort of a mainstream retail narrative of late as well like all of a sudden everybody is talking about privacy again well well I mean when when I mean just put institutional adoption for a second on the side I mean even when you look at crypto I mean do we have what is the X handle whale watchers right you know immediately when you move your crypto assets people front run you because if you send assets into an exchange the assumption is that you're about to liquidate the asset so you

know if it's if it's MIV being able to front run transactions because you can see everything that is happening. There's there's just so many, in my opinion, derivatives of the lack of privacy that are not good, not just for an institution, but also for individuals. You know, a lot of times people will think that, you know, your public key means that you're anonymous. It's just not true. I mean, when you look at some of the on-chain intelligence companies, they know everything that you do. I mean, I know of certain offerings. If you put a cell phone number anywhere in the world, they will tell your wallet addresses, your activity. So I actually believe, you know, I actually believe that that privacy is a human right. And, you know, I've posted that a long time

ago. I don't think that this is just a requirement for an institutional player. I think that crypto offered financial freedom and financial opportunity for people around the world at the individual level that they had no chance of getting. And as a result of that, you're saying, okay, well, I wish I had privacy, but I really care more about, you know, financial freedom and being able to take care of my family, and therefore I'm willing to accept not having privacy. To us, that is not a good outcome, but when you think about an institution, that is just no, right? Like, I don't see my former employer's Citadel being okay with all of their positions being broadcasted to the world, or every time they change a position that is being broadcast to the world, or being able to

look at all the margin movements in and out of a clearinghouse by all the participant. Or, you know, maybe some companies would be okay in employees or a company dispersing, you know, your monthly salary to that employees. I just don't think that at the majority of society, that would be acceptable. And that's why privacy already nine years ago was like a must have feature for us. Do you think Ken Griffin is listening to us now that you said Citadel? Do you think you heard it? I hope so. And thank you, Ken, for being a great investor. Thank you, Ken. Thank you for all that you do for us. So it leads to a natural conversation about centralization. and decentralization, right?

Because on these other networks, as you said, they really lacks privacy. If you send an Ethereum transaction, it wouldn't even work. But I think to have that level of privacy, does that mean giving up a certain level of decentralization? It has to be like a company that you're sort of working with.

Or can this happen completely on decentralized rails? No, it can happen on decentralized rails. The nice thing about Canton is that there is no kind of, this kind of binary view of the world. Everything is private. everything is public everything is centralized or everything is decentralized that the reason for the name canton is from like the swiss canton system and if you think about switzerland it's a very well-functioning country you know have done well financially uh in history but when you

actually you know double-click in they have many different cantons they don't even spell canton the same way across the canton some with a c some with a k you know they even talk different languages, they have different tax code, different rules, yet they all interoperate under one country called Switzerland, right? So our view was that the world is not homogeneous. There are institutions that come with a whole set of requirements when it comes to privacy, permissioning, who's allowed to access, under what condition are they allowed to access? And then there is a really good opportunities for permissionless assets that might be semi-private or not private at all. We didn't want to create a crypto rail that kind of mandates to people, this is how you should behave.

And I do feel that till today, crypto rails were very opinionated on how the world should operate. So we took a very different approach by saying we want to give people that build applications the freedom to decide how to define their, smart contracts and therefore you could have a very wide variety of configurations on Canton. Assuming that multiple chains are used by different institutions, how does this become fully interoperable? This entire system because who is actually motivated to build the tools to make it interoperable if to some level everybody is competing and probably want Walt Gardens? That's an awesome question. To be honest, and it's a critical question.

And I get asked that question from regulators a lot of times. Listen, I think that we will have multiple rails. I don't think we will have as many as people think, mainly because you need to have such a significant return on the investment that I just don't. don't see how having that many rails would be worth having so many different institutions connected. But I do think that you might have a handful. And therefore, what you are seeing is that institutions today, when they're building their integration points, they are coming at it from a multi-chain kind of approaches, as you said. The point about interoperability is a great question. I think that when people ask me, will you do

interoperability with another chain, I always ask a regulator for what reason? And what I mean by that, it's not that we are against it, but like if a regulator, let's say we work with a clearinghouse and we work with a few of them, they said we are willing to accept Ethereum as eligible collateral, as initial margin or use it for any other thing. That's an amazing opportunity to do interoperability with Ethereum. Because if we build the system that manages the collateral for them, we would love to have kind of like this very interoperable way of being able to deliver Ethereum. But Ethereum is collateral, to be clear, is different than using the Ethereum rails to actually move everything, right? So it's a different form of interoperability. Yeah, it's a different form of

interoperability. So I think that generally speaking, what we will see in the next few years is that the handful of chains that have been able to attract the product market fit, I do think we'll start actually collaborating about more seamless interoperability, but mainly because now you could actually see a return on that investment. Right. I think they're doing intrapability for- Probably a problem that doesn't exist yet. So I just wonder, because we've seen this so many times in the past in crypto, clearly not on the institutional level or anything, but a protocol.

is secure, wonderful, but these early iterations of bridges and all these things, those get hacked, right? So because that's not under your control anymore, right? Some third party or whatever builds a bridge between two protocols, and that's where, you know, the hackers are able to drain funds. I can't imagine that the regulators and such would look too favorably on something like that. So it seems like, you know, from your perspective or others, it would be like a one chain to rule them all type of thing with the IT.

in your mind. Well, like I said, I think you will see a handful. I do actually think your point about bridges and the risk associated with them is very valid. I do actually think that some of the leading players on the bridging side or the connectivity could actually become critical players on creating that really, really tight interoperability technology. So whether it's like layer zero or chain link, those type of those type of protocols,

I do actually see them being some of the critical players to create, you know, the next generation, if you want to call it of a bridge, where you don't have this type of settlement risk between two chains. But that is, from a technology perspective, significantly more complicated and therefore must have some kind of a real business case to make that investment. So, by the way, I forgot that my daily show is a news show because all I've done is interview you about these amazing topics. and I think it's great. You're excellent at this, but I do want to point at a few stories that we actually have since that's what people are used to getting here.

We have this one along these lines. Morgan Stanley files for Bitcoin ETF, Goldman names, top 2026 crypto picks. Once again, these are headlines that were like, you couldn't have even dreamed of a year, much less two years ago. But since this was two days ago, Morgan Stanley has also filed for Ethereum

and Solana ETFs with staking their trusts, but they're effectively ETFs. And you have the Goldman Sachs top 2026 picks here. So is there an institution left that's not trying to capitalize on this at this point? I mean, how meaningful is it that you now have Morgan Stanley not only offering the iBits and other products of the world, but actually now creating them themselves trying to capitalize on this? How big is it that one of the top three wealth managers in the world has done this? I think it's pretty big.

Although nothing burger. Yeah, nothing burger. Listen, I think that all of these things are really good for us because, again, I think that we've worked on convincing the large institutional players that there's value in this technology. There's merit in Bitcoin as a store of value. So having them now buy in, I do think that the previous administration was not the most helpful in the world, even though I have to say we did launch Canton during the previous administration. A lot of the best things that you see are built or launched under the worst conditions, you know? Yeah. But I think that all of these things are just really positive signals.

Now, the question is, well, why is the market what it is today? And it's a question of, did we actually value the technology at the right level prior to these things? And the thing that keeps me very positive is even though I'm, you know, I'm not, I don't predict prices. I can't tell you what it is. What I can say is that all of these announcements are showing that there is a real baseline of interest in the space, in these tokens, in using this technology. And what I mean by that is, yeah, it might go more down. I don't know. Again, I'm not predicting it.

But I don't think it goes down to zero. I think that that has a zero chance, right? Like, this is going to keep on going up. It's just that I think that the industry is trying to recalibrate. How do you value these things? And this is really where, again, I'm going to do a good job of coming back to talk about what we do, which is we need to as an industry to actually show that people are starting to adopt the technology and are using it for their real world businesses.

And when we do that, I think you're going to see the industry size go well beyond $10 trillion in value. Yeah, I've been talking about this quite a bit. We have this sort of bullish tilt that we're going to finally value things based on their utility and that the fundamentals are going to matter and transaction fees and burns and all of these ways to actually assigns. value to these tokens, and I've kind of pointed out that that might mean a repricing down first, or maybe that's what we're seeing. But, you know, if we are intellectually honest and say that most of these things in previous cycles or for the past 10 years, we're probably based on speculation and hype more than fundamentals, that even a return to actually pricing them on

utility and fundamentals may be much lower than where they currently are because of all that speculation and hype. That's not what people want to hear, but that's kind of what you're saying, and I've said that a few times. I can't disagree with you. I don't understand how something that doesn't have any rights and covenants to the holders of an asset, that the underlying asset processes less than a million dollars a year can be worth billions of dollars. I just don't. Physics doesn't agree with that. I mean, it's just like, I believe in free market. and in free markets, arbitrages eventually close away. So if you have a company that does millions of dollars

and you have rights and you get covenants as a shareholder, and then you have something that does significantly less and doesn't show the trajectory of going higher and doesn't give you those rights, that arbitrage eventually will close. Now, I don't know what's the timing, but eventually it will close. And that's why I totally agree with what you said. Right.

So one of the other big stories was that we are likely to get a markup on the Clarity Act by January 15th. I don't have it to pull up. You launched during the Biden administration. Clearly, you weren't particularly concerned about the regulatory or legislative environment. Right. But it's still meaningful. So do you think that clarity passing or not passing on a certain time frame could be a catalyst in either direction for? I mean, I know we don't want to talk about prices or the market, but how meaningful is the passage of the Clarity Act?

I think all of them are super important and not a lot of times just due to the substance of the law itself, but also, again, it's the posture and where we are. A lot of times people ask me, is the Genius Act a big deal? And I said, yeah, it is, but it's actually more the posture of the administration, the regulator, the legislators, that they're actually. passing positive laws towards this industry that is a much stronger signal, right? So I think about the Clarity Act very similarly. You stated that we launched, you know, during the previous administration, we built Canton to be able to comply with the law, not, again, that you can build applications that comply with the law. My view was you don't build technology in the hopes that the law will change to make it

work. So I think that all of these, all of these are great. I hope that midterms is not going to be used to not pass the Clarity Act. Because again, I do think that there's a lot of important components that the risk-averse institutional players would say, yeah, we're not going to go all in unless we have more clarity. I'm a pretty half glassful kind of guy, an optimist, but if this pushes to midterms, we're hosed. This has to get done before it's even midterm season, much less actually midterms, I think. One of my sort of predictions of 2026 is that we see a massive resurgence of the anti-crypto army. Sadly, because that didn't have to happen.

But I do think that there are people who are going to run on that platform only because of the Trump family's involvement. I mean, we have a story today, right? Trump family crypto. company applies for banking charter. Elizabeth Warren is not cheering that, right? I thought I thought she was going to endorse that. She loves it. But I'm just saying that clearly, you know, with the Trump family's involvement and the things have happened last year, we have sort of a mixed bag of, you know, political motivations. And I think that they've dropped enough of a breadcrumb trail here that the anti-cryptor army could come back. And if this becomes

yet another issue, we need that Clarity Act having already passed. Not being in question. I think you're right. But, you know, taking the fact that it didn't pass last year, I can imagine that, you know, already that started. And again, I'm very hopeful because I think that both sides should look at the amount of money, effort, and opportunity that this is to the U.S. economy. And that's what should be the focus. And I hope that that will be the focus. Yeah, I totally agree. I mean, to be honest, I'm really glad you were here today because this was not a big news day. Nothing that I really wanted to cover, and we can have a much more deep philosophical conversation about the way that this evolves. Before I let you go, I want to know with all this happening in the United States financial system, how much does that lead what will happen around the world in your mind?

Your big news stories, I should say, for you specifically have been very U.S. focused, but does that become a global thing? as it's seen happening here. Well, I mean, we had a huge story in the UK. We just actually processed a guild purchase against a tokenized deposit on Canton as well. So that was, yeah, that's, that's, oh. I had that there and I still ask you. We're giving an advertisement for Heslin. Shout up to him.

But, you know, I think, I think that, you know, the U.S. is still the leading financial center of the world. And having the U.S. have such a massive momentum does spill over and create momentum elsewhere. So this announcement from the U.K. is a very big one, very excited about what we're doing with Lloyds and Archecks. But you're going to see stuff from Asia, and you're going to start seeing collateral of different Sovereignies start to exchange, be traded against, on chain in 2026. Anything else I might have missed before I let you go?

No, this was awesome. We should do this again in a few months. I was going to talk about how Zcash is crashing because apparently their development team resigns when we were talking about privacy. But I'm going to be honest, this was like one of those things I just saw it and giggled and moved on with my life. Socialization. Because I don't understand it.

And I know nothing about it. All right, man. Well, guys, you can give Yuval a follow. I do follow Canton Network. But obviously, X sometimes. That happens to me as well, by the way, where I'll look and it doesn't show it. But it said then the person's like, yeah. So it's a glitchy.

Yesterday, we tried to launch Twitter spaces, which we do every day, and it just didn't work. Like, you just could not launch Twitter spaces. So maybe they need to hire back like three of those devs from the early days. Awesome. Thank you so much. Thank you, Team Wolf. Everybody, we will see you soon. Have a good one. See you tomorrow for the Friday 5.

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