Can you unpack for us a little bit what happened on that weekend on Aave and how do you look at this? What are your thoughts when you saw this?

For anyone who is not following the incident closely, Kelp DAO was a staking protocol for ETH.

So you put ETH in, you get back RSETH, which is a wrapped version of it that accrues yield from underlying ETH staking.

So the intent is that you have one ETH backing, one RSETH.

What the hackers did was they corrupted a bridge, then minted more RSE than there was backing of it.

So something to the tune of like 20% overall.

So you effectively now have about 80% asset backing for this asset.

How do those people need to think about this latest incident with Aave? Is this something that we can expect more or is this something that's probably going to be solved in a couple of months?

I want the audience to understand the differentiation of how your products are coming together whilst doing something

different.

The differentiation of our products coming together.

Uh, it's a great question.

So, uh, in the past, I would have said, are they, uh, are they making more, were perhaps more right.

We're both trying to try to do lending.

Uh, and we didn't have a lot of crossover with each other.

Letting that play

And then the DTCC announces, here you go, 100 trillion, TradFi giant just gave crypto a huge boost, never seen anything move as quickly, that they're doing it with Canton.

Yeah, yeah, yeah, I heard that.

Yeah, Canton's really, you know, make, make it play to kind of cement itself as the institutional chain.

I know that they do a lot of repo business, uh, there with players like Citadel, I think Citadel also invested in them this year.

So, uh, yeah, they're, they're definitely making, definitely making a play there.

Apparently, you know, apparently the, uh, the key differentiators is the privacy aspect that they think is going to be favored by institutional players.

You know, we've definitely heard that before with other chains that the key angle for getting TradFi on board in size is that you have to be able to offer them privacy.

And then also, which verticals are you most excited about since you make money in a number of ways? Which ones do you see growing the most for 2026?