Your expectations, and what does it mean for Solana?

Solana?We are really excited about the Clarity Act making some real progress.

Uh, so just yesterday, the Senate released an updated bill text, uh, which includes some of the ethics, of the ethics provisions that you just mentioned.

Uh, and so that seems to hopefully get people over a roadblock.

Uh, and then, uh, beyond that, uh, if the Senate passes this, uh, in a vote probably sometime next week, then it's even possible that this is gonna be passed before the August recess, which would be incredible.

Uh, and the reason why this is so important is because this really finally paves the way for the US having a dur- a durable statutory framework for, uh, for, uh, blockchain, for crypto, for digital assets, uh, and would really cement the US's role in being the leader of capital markets globally, right? The US has always been that lighthouse, um, as the home of the largest equity capital markets in the world, uh, has been kind of like the, the pace setter and has been, uh, pointing the gener- dir- the general direction of innovation for quite some time now.

Uh, we also saw this last year when it came to digital assets and stable coins specifically with the Genius Act being passed, uh, just barely a year ago, and the incredible sort of amount of attention, innovation, uh, and progress that that stimulated, uh, with the, uh, with all of the, uh, developments around stable coin adoption here in the US and also globally.

Uh, how is this going to set up Solana versus some of the others that are in the marketplace here?

Give us your forecast for Solana, not only for the end of this year, but for the end of next year as well.

So I think in terms of Solana's usage, we are already the most used chain.

And that's not even by a little bit.

Solana throughout 2025 is more used than the entire rest of the industry combined times two to three.

So, Solana is already the most adopted blockchain.

And when you think about value creation for blockchains outside of Bitcoin, when you think about the infrastructure blockchains and how they create value, what it is, is like any other tech platform.

There's usage, which results in fee revenue, which results in, because these networks are user-owned infrastructure, that fee revenue ends up going back to token holders at the end of the day.

What's your view on that and the idea of tokenizing something that's looking ahead at events that may or may not happen? Seems like it's a departure from some of these other use cases that you're talking about.

I wonder how that's gonna impact the whole crypto ecosystem, and specifically Solana.

I think he's right, and it's gonna impact crypto, but more than anything, I, I think it's going to impact traditional finance.

Uh, what we see today is you have about $4 trillion worth of assets, which are crypto native assets.

Uh, more than half of that is Bitcoin, and then much of the rest is layer ones, as well as a longer tail of different assets.

Uh, crypto as an asset class today is about $4 trillion, but if you compare that to tr- to traditional finance, which is, let's call it about a trillion dollars, uh-- or sorry, about $100 trillion, then what we're talking about is a huge base of assets, uh, that has potential to be tokenized and brought on chain.

Um, and really, crypto is not just an asset class, it's an infrastructure for all asset classes.

And it's only started with those crypto native tokens.

Why should an institution choose Solana as a base layer?