crypto.com rolls out tokenized stock derivatives have crypto exchanges push into equities. So the real story here is not that they're offering tokenized stocks. We know that that's coming everywhere and that all of these platforms are competing to be the everything app, right?

But what they launched here is round the clock exposure to approximately 1500 American stocks.

But they are derivatives available to people outside the United States because we hate fun here and aren't allowed to do anything that's cool.

But uh, this gives you exposure to the price of stocks, but no voting rights or rights that would come with actually owning one of these stocks.

So it's very important. We have this battle in tokenization for the way that uh people will be able to gain exposure to stocks.

On the one side, you know, you actually tokenize the asset, it's held in custody by somebody and you have all of the rights that come with actually owning a share. It's a tokenized version of that actual share.

On the other side, you just get the price exposure, kind of like we've seen with pre IPO stocks where you can bet on it and trade it, but you don't actually own anything.

That is what they are launching here. No legal ownership, beneficial ownership, voting rights, or direct claim against the underlying company.

So these are not tokenized stocks. They are stock price exposure wearing a fancy crypto costume.