AMC stock jumps 21% overnight. A CEO slams Robinhood over outrageous tokenized shares. I'm going to get into that story in a minute because it uh kind of pairs with a certain vibe to this story, which is Coinbase Global seeks SEC approval for equity perpetuals offerings. So, as you know, perpetual swaps, very popular and were created in crypto by Bitmex many, many years ago.

Many believe a superior way to trade futures. Uh those were approved on crypto in the United States. Now, Coinbase wants every single stock to trade perpetually 24/7, 365 with these contracts. Now, I wrote a news uh about the whole concept I'm talking about here. I wrote a newsletter about it this morning that I want to show you right here. Crypto isn't becoming Wall Street. Wall Street is becoming crypto.

Right? The idea here is that we thought that crypto was going to try to finally work its way up through the halls of Wall Street to become serious. But what's actually happening is that Wall Street is being forced to adopt everything crypto. 24/7 trading. The SEC is having a meeting on that. As I just showed you, perpetual swaps coming here. Prediction markets started with Polymarket, which the poly is Polygon. It was on crypto rails, prediction markets blew up.

Those are coming everywhere. Everything that was built in crypto is now forcing its way into the mainstream financial system and Wall Street is adopting the rails. All settlement will be tokenized on tokenized stocks will be 24/7 365 and you'll be able to do everything in your wallet that you can currently do in your Schwab or E-Trade account.

Like I said, this is happening exceptionally fast and it's only accelerating. And perha- perhaps right now, the most ridiculous example of this and the convergence of it is that story I showed you before, AMC stock jumping 21% overnight as CEO slams Robin Hood over outrageous tokenized shares. So if you haven't been paying attention to this, Robinhood chain has absolutely exploded, the most successful Ethereum layer two ever, which I think was pretty predictable because it's Robin Hood that's launched it and they've done an exceptional job.

But of course, as Robinhood has announced that this is a chain for tokenized assets and real world assets and serious things, the crypto people came over there and turned it into a meme chain, which is pumping a ton of the volume. But there was an interesting innovation, which is that you can launch a meme coin and attach it to a tokenized stock on Robinhood chain. So there's a tokenized version of AMC, not available in the United States, of course, this is offshore.

Right? Not available in the United States. So there's a tokenized AMC that you can trade on Robin Hood, but that does not necessarily have all the rights of an actual shareholder, which is one of the big problems that the AMC CEO is complaining about. But then someone launched a token called Meme, a meme token called Meme, attached it to Robin to AMC stock, and the price action on the meme coin is sending AMC stock actually flying.

Right? And this isn't the first example of it. There was a token, I hate to say this on TV, Boner. It's called Boner and it was attached to Hims. And another one, I can't remember the name of it, that sent a Nasdaq listed stock up 200% or so in a day. So meme coin traders are effectively massively impacting what happens with actual stocks. Now, the AMC CEO who should be cheering this, uh should be super excited that his stock is pumping. And let's be honest, AMC went up in the first place in the first iteration of GameStop that had nothing to do with crypto when meme stocks became a thing.

But pointing out, and rightfully so that, you know, when a stock is moving because of an offshore platform that has a tokenized version, but it doesn't actually comply with securities law or give you the same rights you would have as a normal shareholder, maybe there's a problem here. And these are the growing pains that are naturally going to happen in this convergence when everybody tries to be everything. Now, interestingly, if we had the clarity act, this probably wouldn't be happening.

Right? So we know that FTX couldn't have ever happened if we had had the clarity Act and FTX had been properly, uh regulated. But none of this could happen if we had the clarity Act because there would be distinct rules on what Robin Hood or people could do on chain or even what uh could happen with the AMC stock itself. So the best part though, by the way is that the AMC CEO, uh, his name is Adam A R O N. I don't know if it's Aaron, Aron or A-A-Ron.

Uh A-A-Ron, Adam A A-A-Ron. Adam Aron. Uh he was freaking out and Vlad Tenev, the CEO of Robin Hood, simply res- responded under him, said, what's the concern? Question mark. And it triggered. Yeah, the the new meme is just anytime now anybody asks you anything, just respond with 'what's the concern?' And if you're in crypto, people will know exactly what you did there. It's like when SBF came out of nowhere and just did one what? Question mark? What?

And everybody just tweeted 'what' forever. They're still doing it. So what's the concern? And then uh it caused a massive debate on X about all this. But it's uh only going to get more interesting with time here. But right now, meme stocks, uh meme tokens are literally pumping stocks, which proves that all stocks are really just meme stocks.