Tokenized assets are growing, but connecting them to capital is still a major piece of the puzzle. @turtledotxyz is working on that liquidity distribution layer. As of November 4, tokenized assets excluding stablecoins stood at $46.1B. Turtle's Q3 update also named Hare and Lunar Strategy as the first two businesses outside Turtle running on its tools. That makes the $1.04M in Q3 revenue across Turtle and Lunar Strategy, on a cash-in basis and net of intercompany, more interesting. There is a difference between building infrastructure and seeing other businesses actually operate on it. That is the part of Turtle's progress I find worth watching. Q3 report:
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