Turtle completed its seventh quarter. Third-quarter revenue, for Turtle and the Lunar Strategy combined, net of cash inflows and intercompany transactions, amounted to $1.04M. Revenue came from services and distribution, as development of @turtledotxyz tools continued. Generating revenue while building a young infrastructure protocol is a strong signal of self-sustainability. Hare and the Lunar Strategy are the first two businesses outside Turtle to work on Turtle tools. Revenue is one of the few metrics that reflects money exchanged for delivered work. While tokenized assets outside stablecoins stood at $46.1B as of November 4, a layer to connect them to capital is still needed.
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