Everyone’s arguing which chain wins tokenization. That argument already feels late.

When the people who run capital start talking about unified rails, they’re not brainstorming. They’re confirming what already worked — and what didn’t.

Treasury infrastructure is getting rebuilt. Bank charters are entering the conversation. Settlement is starting to matter more than narratives.

I’ll connect the dots tomorrow on the livestream — why this shift is happening now, what changes once certain lines get crossed, and how I’m thinking about alignment once infrastructure is quietly decided.

If you’re still watching price alone, you’re probably missing the setup.