Peter's answer to that is usage.

One of the open questions driven by the SEC action is, are people going to use it? I love the model.

I love the activism on the part of the commission to take the steps they've taken.

But the success of their action will depend on whether people actually use that tool.

What we have in Ando's case is we know there's product market fit.

We have achieved it.

We see it every day.

Peter framed the difference around intermediaries and self-custody.