Austin says perp DEX @variational_io has deeper liquidity than Binance on some smaller-cap assets. “I’ve found that liquidity on some of the smaller cap assets is deeper than you see on a lot of centralized exchanges.” “And in some cases even more so than you would see on Binance.” “I think their RFQ model is actually pretty effective for particular pairs.” @AustinBarack @RockawayX

JJ Kinahan says Cboe just got approval for prediction markets on company KPIs and individual stocks. “We have our XSP, which is one tenth the size of the SPX.” “We’re about to roll out the Russell, we’re about to roll out the Dow, we’re about to roll out the Mag 10.” “What we also just got approval for, and we’re gonna start trading shortly, is KPIs and individual companies’ names.” @TheJJKinahan @Cboe

🚨LIVE: TOKENIZATION SUPERCYCLE Is On! Live From The Bridge In NYC. Wall Street Is Bringing TRILLIONS Onchain. Interviewing Schwab, T. Rowe Price, Bitwise, Grayscale & Coinbase Institutional Today

The biggest demand for tokenized U.S. stocks could come from outside America, with CZ pointing to limited brokerage access and inconvenient trading hours for international investors “Democratizing access is the right word. Today most of the tokenization happens with tokenizing U.S. equity market stocks and then putting them on chain” “The people who are in the U.S. don't have a high demand for those. They can already open a brokerage account. It's the people in the rest of the world” “Most people cannot even open a U.S. brokerage account. And even for the people in Asia, when they can open a brokerage account, the trading hours will be from midnight to 6 a.m. They can't do that every single day” “By tokenizing on the blockchain, the rest of the world can have access to the liquidity, to the investment instruments. We also see that a lot of the trading volume outside New York trading hours is actually higher” w/ @cz_binance

BIG WEEK. We will be at The Bridge and LINK:NYC for 2 days of live coverage on the frontier of institutional digital assets. See you there. @TheTieIO @nearprotocol @chainlink

Asked how it feels to see regulation pushing crypto forward after the headwinds he faced personally, @cz_binance kept it big-picture: “Well, it’s a huge milestone.” “I think this is very symbolic and this is very meaningful.” “Blockchain is just a technology that should be used by any financial player.” “It’s one industry.”

Some big public companies have started pushing back on tokenized versions of their stock trading onchain. So we asked CZ the obvious question. Is this the classic “first they fight you, then they adopt it” moment? His answer was calmer than you’d expect. “I don’t think we need to push everyone to adopt it in day one.” Companies already listed on the NYSE feel like they have enough liquidity. They may not want more. Plenty of other companies do. “No technology or no solution needs to be applied to everyone in the world in one shot.” Some will wait and watch. CZ says that’s a perfectly fine view. “But the technology is there.” @cz_binance

Uncle Eddie says the upside is in buying what nobody else wants. His proof is a Pokémon set everyone called bad. "I put about $90,000 into that complete set... over $800,000." @MediaGiraffes @Slabzapp

CZ says tokenization can create markets for assets that have never had one, from rare earth minerals to water. “We’re just talking about stocks which actually have trading venues.” “There’s many assets that don’t have trading venues.” “Gold probably does, but many other precious metals probably don’t.” “Rare earth minerals probably don’t.” “So tokenizing all of them will give them liquidity.”

The regulatory headwinds of the past are now tailwinds for the future. To see CZ in the USA after a pardon from President Trump is such a hardcore 180 reversal from the Gary Gensler era that we were once a part of. This is no longer the case. Tokenization, stablecoins, and perps are eating finance slowly, but surely. This is a secular trend that will only accelerate from here as trillions of dollars of assets come onchain. Welcome to the rodeo, lads.

100 million people. $50 million in daily trading volume across the entire stock market. That’s how thin markets are in some large countries, according to CZ. “90 something percent of the countries, they don’t have very good liquid stock markets.” Companies there can list, but they can’t find buyers. @cz_binance’s argument is that opening markets globally fixes that, and it benefits US companies too. “Which company wouldn’t want their stocks to be bought by many more people?”

BNB CHAIN has added more real-world asset value than any other chain this year. @cz_binance credits the builders: “BNB Chain has a very strong ecosystem of many players who are building in the space.” “They’ve done a phenomenal job of tokenizing real-world assets onto the blockchain.” “There are many players who provide liquidity, who provide trading venues, yields, earnings.” “I didn’t build all of that.”

TOMORROW. The Rollup is LIVE from The Bridge in NYC, starting 10AM ET. We're sitting down with Matthew Sigel, Dan Held, John Darsie, Multicoin, Charles Schwab and more. See you on the show.

CZ says BNB Chain now leads every chain on tokenized real world assets "We are seeing that BNB chain has the highest TVL, total value locked, for tokenized real world assets." "It's great to see, but I didn't do any of that."

CZ says one trader in New York can trade as much stock in a day as an entire country of 100 million people “Only a few large countries have good stock markets. If you look at ninety-something percent of the countries, they don't have very good, liquid stock markets. And so you can have a company listed there, but they don't have much liquidity.” “Some large countries with 100 million people, their daily trading volume on the entire stock market is 50 million US. That's one trader in New York, right?” “So for those guys, many of those companies say, ‘Why don't you tokenize your stock and then bring it on chain?’ Binance, the global exchange, has 330 million users already, and the crypto world has probably six to seven hundred million users. And then they can trade 24/7.”

THE CZ INTERVIEW. @cz_binance @therollupco 00:00 Intro 00:10 CZ Feeling Good After Ringing NASDAQ Bell 00:46 BNB Chain Dominating Tokenized Assets 02:17 World Needs Access to Onchain Liquidity 03:26 Exporting U.S. Capital Markets 05:13 CZ's Take on Tokenization Pushback 06:28 Future Of Onchain Finance in USA

Anton Astafiev says NEAR was built to switch to stronger security if it ever breaks, and it just added a quantum-resistant option. The old plan if crypto's security broke: "we just shut it down and we walk home." @NEARProtocol