Chinese chip manufacturer CXMT has launched on Hyperliquid pre-IPO perps as is trading 6.25x+ from the IPO price of $1.28 per share. Insane. Chinese investors who get access to this IPO will do extremely well. Its up 32% from launch price on Hyperliquid. https://t.co/fe2XFrppV0

Vaults a crucial part of the future of all of the worlds assets coming onchain. Take any imaginative strategy possible with the DeFi legos that have been built over the past 5 years, and implement high-quality assets as the collateral. We will have some insanely cool experimentation in this space in the coming months to years. Very excited and equally bullish. Tokenization changes the entire framework of what's possible onchain.

The next bull market has already begun, its just not what you're used to. Its happening in tokens that look and operate more like public equities than traditional governance tokens. This market is demanding cash-flows, programmatic buybacks, transparent & public accounting, and real onchain business model forecasting with path to sustainable revenues. Welcome to the new era.

The most important names of tokenization in 2026 have already been established. My list to pay attention to: Figure Ondo Canton Paxos Plume Superstate Theo Grove Centrifuge Dinari Securitize Tether Daylight Galaxy Digital VanEck State Street Fidelity Janus Henderson Franklin Templeton BlackRock Kraken Backed Bitwise WisdomTree Grayscale Midas The space is growing exponentially fast with new stablecoin issuers, product & ETF issuers, and new asset types onchain. Its very clear the convergence is happening this year. Table is being set.