Satoshi Nakamoto writes the white paper Halloween night in 2008 – a number of years later, people start to invest in it, they’re buying and selling it. Some years later, we start to see other coins, other tokens. And, you know, if you just look at coinmarketcap.com, there’s like 10,000 or so tokens listed there. Some have more liquidity than others, of course, and some have more value than others. But what is the investing public doing? They’re investing for a better future, based upon the efforts of others. There [are] websites you go to, Medium posts that you read, there’s Crypto Twitter, there’s Reddit forums and places you can look for information. And it’s about that common enterprise and that entrepreneurial effort which is the hallmark of investment contracts, which are securities. So I think that’s where we are, that most of the tokens meet the traditional standards that our Supreme Court has laid out, and that we, the SEC, have a role to help protect investors and instill and enhance trust in these markets. But back to you, Nik.
