Alex Heath

And what it regularly means to think at a high level is like, you know, figure out like customer protection, like make sure that people understand what they're getting into and what they're doing.

And number two is market integrity or this idea of fairness.

Create rules that are fair and, you know, for the different participants.

It's right, like if you're getting into a game that is not fair, you don't want to participate in that or whether it's like anything in life.

And like if it's, and so you have to kind of create it

like the stock market, a set of rules that like make it fair.

And so like the stock market, the way that we've regulated this, you know, we worked for four years before we launched a single product.

So working with the CFC, which is the federal regulator, to regulate this lack of financial market.

And so you have the same set of prohibitions.

So like, you know, like market manipulation is not allowed, things like wash trading, spoofing, and then like this notion of insider trading and what it means, like what is insider trading and how do you define it?

And so that is regulated like exactly like the stock market.

And so we have the same sort of set of protections.

We have systems that flag for these things.

And then if you flag somebody who committed it, you know, it could go from a fine to like if you commit insider trading on a stock, it could be like a financial crime, like it could be criminal prosecution.

And so it's an interesting question.

Like when it comes to companies, it's very similar to...

Like if you are an employee of a tech company and you know something about the quarterly earnings, like you cannot buy options based on that knowledge, right?

And the way to draw the line is essentially like you cannot use material non-public information to trade, right?

What does that mean?

So it's basically, you cannot use information that is not supposed to be public.