Sharing some thoughts for Forbes Crypto this afternoon on why tokenization suddenly matters to everyone, from private equity giants to everyday investors. This might be an unpopular opinion, but I don’t think tokenization from large financial institutions is really about creating opportunity for retail. It’s just as much about finding new liquidity avenues. It’s no secret that private equity has spent the past decade buying up everything, driving prices higher with each round. But eventually, there’s no one left to sell to, especially when so few people have access to these kinds of deals. So what happens now? Tokenization turns traditionally illiquid assets into tradable ones, unlocking new exit paths that didn’t exist before.