Is It a Secular Downturn in Crypto?

Do you think crypto is actually becoming more of an institutionally driven market? Yeah, that's an interesting one because while the retail hands have been shaking out, a lot of people have been hurt quite badly. We have seen a lot of like larger institutional players coming into the space, especially in options. And I think that what you're seeing is just a lot of institutions entering the space to position themselves for that re-entrance.