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Feb 11, 2026
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LONG
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Leshner states that "recordkeeping and the back office of every asset is going to slowly become crypto" and notes that while incumbents (ICE, NASDAQ) want efficiency, firms like Galaxy Digital (GLXY), Robinhood (HOOD), and Ondo Finance (ONDO) are building the parallel rails for this $700 trillion migration. The "Clarity Act" and general technological maturation are triggering an inflection point where assets move on-chain. This benefits the infrastructure providers (ICE/NASDAQ for settlement) and the platforms creating the new venues (HOOD/ONDO/GLXY). Galaxy Digital is explicitly named as a partner/customer in this transition. Long the infrastructure providers facilitating the tokenization of Real World Assets (RWA). Regulatory delays from the SEC ("Project Crypto") or lack of clarity on market structure could stall adoption. |
CNBC
CNBC Digital Finance Forum: Crypto Innovators...
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Feb 11, 2026
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WATCH
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When asked who is adopting tokenization, Leshner specifies that "companies that are smaller, that are in like the billion to $5 billion range, are ones that are most interested." Unlike the "Mag 7" which have infinite liquidity, smaller public companies suffer from fragmented liquidity and limited global access. They will be the first non-crypto movers to tokenize equity to access global capital markets and 24/7 trading, potentially reducing their cost of capital. Watch for small/mid-cap firms announcing tokenized equity raises as a catalyst for liquidity events. Reputational risk if early tokenized issuances face technical bugs or regulatory scrutiny. |
CNBC
CNBC Digital Finance Forum: Crypto Innovators...
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Feb 05, 2026
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WATCH
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Robert states that the dominant conversation in his circles is that "MicroStrategy is break even as an investor in Bitcoin... in the aggregate." He notes that if BTC declines further, confidence in MSTR as a continued buyer will be lost. MSTR trades at a premium because it is viewed as an infinite bid/buyer of BTC. If the market price drops below their average cost basis, the "infinite money glitch" narrative breaks. Investors may front-run this psychological level, causing MSTR to decouple to the downside or face forced selling pressure (negative feedback loop). Monitor BTC price closely relative to MSTR's cost basis. If BTC weakens, MSTR is the high-beta short. Bitcoin price reversal (god candle) would squeeze MSTR shorts immediately. |
Unchained (Chopping Block)
Epstein's Crypto Ties Revealed + Why Everyone...
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