@CZ said: IPOs will move onchain.

Think about what that means.

Today: IPO → Exchange → Broker → Clearing → Settlement

Tomorrow could look more like:

IPO → Blockchain → Investor

Shares issued onchain.
Ownership recorded on-chain.
Faster settlement.
Fractional ownership.
24/7 markets.
Smart contracts handling compliance and dividends.

This isn’t just stocks on crypto.

It’s capital markets becoming programmable.

Crypto started by putting money onchain.

Now we might put the entire financial system onchain.