00:00 Brian Sozzi

Dan Lynch who is the equities and head of market inside. And one of the amazing areas that we've been tracking is the not just market reception to some of the strategic plays around cryptocurrency, but the other potential players that are still waiting in the wings to make a market entry. Circle was successful, but are there others that are in the crypto landscape, either platform or crypto touching and holding that you think could receive a solid market reception here?

00:32 Dan Howley

Sure. So, Circle's IPO was really this big vote of confidence for the crypto and stable coin industry at large. And they really timed it well when you think of some of the bigger macro pieces at play. You have a crypto friendly administration in place. There's stable coin legislation out now that is really legitimizes stable coin. And then you have some of the biggest banks and retailers in the world talking about launching their own coins. Coinbase is now an S&P 500 company. So all these things are tailwinds to support these companies. When you look at others that might follow, Gemini is one that has confidentially filed. But several other of the top players in the private markets are continuing to grow. You know, Kraken, we just talked to the co-CEO there. Ripple and others are really growing in the private markets. And another lens on that is, you know, this idea of how tokenization can play a role in broadening access to the private markets. And that's something that the SEC chairman actually talked about this morning.

02:11 Brian Sozzi

It's going to be fascinating to see how many of those companies are able to leverage this moment and this momentum and perhaps appeal to some of the investors in public equity landscape right now.