The recent crash on left market makers and retail investors stunned, and the market is indeed a bit sluggish now. However, those familiar with this circle know that silence often precedes the next explosion — the opportunities that are coming cannot be missed.

Recently, there is a signal worth pondering. On December 3rd, during an interview at the New York Stock Exchange, Paul Atkins, the new chairman of the US SEC, directly stated: "In the next few years, the entire US financial market might move onto the chain." Does this sound like an empty promise? But the reasons he gave are quite solid.

Let's start with transparency. Currently, listed companies can't even identify their own shareholders or where their shares are dispersed, but if assets are all on the blockchain, ownership structures become clear at a glance, and hiding becomes impossible.

Next is settlement efficiency. Traditional markets' T+1 settlement is already fast, but on-chain can directly achieve T+0 — funds and assets arrive simultaneously. This DVP and RVP mechanism not only eliminates the risk of the "vacuum period" in between but also elevates the entire system’s transparency. The current time gap between clearing and settlement is itself a breeding ground for systemic risk.

Finally, Atkins added a harsh remark: tokenization is not just a trend, but an inevitability. Major Wall Street firms and brokerages are already laying out plans, and in less than 10 years — maybe even just a few years — the prototypes can be seen. The US is now fully committed to maintaining a leading position in the crypto field, and their attitude is very clear.

When the market is sluggish, it is precisely the stage where infrastructure and consensus are accumulating fastest. This adjustment period could be a key window for mainstream assets and traditional finance to deepen their integration.