"The vaporware with 0 revenue is still vaporware with 0 revenue even when you throw it in an equity wrapper, incredibly bullish for a small handful of tokens where TradFi can underwrite a real business model benefitting from secular growth trends"
G | Ethena
G | Ethena25.7.2025
But for tokens with real businesses, producing real products, generating real revenue for real users there is an enormous untapped opportunity to broaden access into institutional investors in equity markets. Alt market cap is a rounding error relative to global equity market capitalisation.
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