Haseeb Qureshi

Is it going to be Solana?

Is it going to be something else?

The reality is that you don't get any guarantees in the world of technology competition.

Just because you were there first, you might be the IBM.

You might be the first one to go when the next technology trend arrives.

So IBM at one point was the most valuable company in the world.

Now you can barely see them on the top 50.

So nobody is given the right, independent of execution, to stay on top.

You have to earn it.

If you look at ICE, so my understanding was that that deal was an investment of $200 million.

Yes.

$200 million means that they bought less than 1% of OKEx, and ICE is worth over $100 billion.

So ICE investing $200 million out of a $100 billion company, that means they invested 20 basis points of their company into OKEx.

If that was a good investment, I don't even know if it would show up in the ICE stock price, right?

Let's say they 5X their investment.

That means that they have $800 million of profits.

That means the valuation of ICE should go up 0.8%.

Could you even tell on a given day if ICE went up because of its investment in OKEx?

I don't know.

OKB went up a lot because OKB is worth a lot less than ICE is worth.