James Seifert

There's a blogger who everyone kind of respects in the space that has moved up his timelines

And a lot of people like to say it's FUD, it's not real concern, but people are starting to take this seriously, including the leader and founder of Ethereum, Vitalik.

So I think there's a whole bunch of things here that are compounding.

Obviously, you just spoke about it.

There's a bunch of risk off in AI names and just equity risk assets in general.

And then I think also maybe this might be, we often see a bit of selling around this time of year, maybe into December, particularly DTS for tax loss harvesting.

Maybe that's being pulled forward a little bit.

Yeah, I mean, I won't pretend to be an expert on quantum cryptography or cryptography in general, but essentially the concern is that quantum computing would be able to hack the encryptions that basically keep, you know, Bitcoin and other cryptocurrencies safe.

There are, you know, quantum resistant cryptographies that can be used and are planned to be used in other cryptocurrencies and even proposals for Bitcoin, but they're not instituted yet.

So the concern is, is this going to happen faster than most people are expecting?

What are the biggest challenges with scaling up in the US?

I think we've begun working with Saudi Arabia.

We now have salespeople on the ground in the kingdom.

It is a new effort for us, and it's not as far along as we are in the UAE and in some other territories, but it's an exciting opportunity.

I think the move by this administration to allow our allies and our partners in the Middle East

to gain access to advanced AI compute is a good one and thoughtful.

And I think having U.S.

technology from chips to software to the full stack in the hands of our allies is good policy.

Okay.

I think we work closely with G42.