Before I look at how big a number is, I look at how it was reported. @turtledotxyz put $1.04M in Q3 revenue across Turtle and Lunar Strategy on the table, on a cash in basis and net of intercompany. Those qualifiers tell you what is counted and what is not. Most people skip right past them. That revenue came from services and distribution while the tools were still being built. My read is that a clear basis makes a number easier to trust, because you know exactly what it covers. Tokenized assets other than stablecoins stood at $46.1B on 4 November. Putting an asset onchain is one job, and getting capital to it is a different one that still needs a layer of its own.