Mike Selig

So there's many others that are looking to offer the product and we're excited to work with these different exchanges.

And then when you get into the on-chain space, many of the considerations around on-chain products are different, but we're certainly engaging with these protocol developers and firms to help get on-chain markets to the U.S.

as well.

Well, look, I think my goal as the chairman is to get everything within a regulated market structure here in the U.S.

So to the extent that the product exists offshore and it's something that there's interest in in the United States, we want to bring it here.

We want the volume.

We want the liquidity.

We want that ability to engage in productive economic activity here in the United States.

But we have to protect investors.

We have to make sure customer funds are safe.

I do not want another FTX to happen.

And I will add on that point, the CFTC regulated FTX entity was the only one that was safe, that protected customer funds.

And so regulation works well.

This administration believes in regulation, but also in innovation.

And so...

whether it's crypto, AI, prediction markets, new derivatives like perpetuals.

We want it here in the US, but we're going to set guardrails around it.

And those guardrails, we believe, will be best in class, the gold standard we expect other countries to follow.

But we are going to lead.

We are going to make sure the United States is a leader in innovation.