Securities

“The markets are never efficient. In fact, very seldom do they ever trade at the actual value of securities. Either, most of the time, they trade above or below. Very seldom do they trade at the value.”

“So you had to be a market maker, and we eventually made markets in 7000 different securities.”

“There are transfer agents that are out there that are already digitizing securities on the blockchain, which I think is something that, again, from a record standpoint, from a record keeping standpoint is great.”

“Web three comes along, which is basically just a new stock market, right? And which is why the argument about whether the securities or not is silly. They're just stock, like they're securities for sure. People are buying and selling them, and everybody's argu…”

“Restricting the buying of securities is something that every, pretty much every broker did to some degree during this week, right?”

“What you'll see in the case of the capital markets is that securities and other financial products or assets will be issued at the outset as a digital asset”

“Most of the network assets at least start their life as securities before the network is active. And of course, all the traditional assets, real estate, equity, bonds that we might represent on chain are going to be deemed securities for their entire life cycl…”

“I think that what will happen is that the regulators are going to say, these are almost all securities. You can't just sell these tokens to anyone on the public markets.”

“Because first I think a lot of those ICOs are actually not legal. So from a legal point of view, you're actually like issuing securities, some of them, not all of them.”