Recently, there has been a noticeable feeling that the recent growth in the crypto space is coming from the traditional financial sector. For example, in Hong Kong, although the government is desperately trying to cool things down, almost every traditional bank, leading internet company, and large financial institution is forming teams to venture into stablecoins and RWA, and the level of enthusiasm is hard to understand. In contrast, I haven't seen many new entrepreneurs or opportunities that are native to the crypto space. I'm not sure if it's a similar situation in the U.S.