📍 TOKEN2049 Singapore, day two. Less vision, more plumbing.

• Adena Friedman (Nasdaq): markets are heading to 24-hour trading, so risk and collateral management, and capital flows, have to run in real time. Every bank's and broker's infrastructure changes.
• Farooq Malik (Rain): money itself is being tokenized whether people like it or not. Next in the conversation: CBDCs and tokenized deposits.
• Yuval Rooz (Canton): entrench blockchain in daily use before the 2028 US election, the way Uber and Airbnb were entrenched before anyone could react.
• Justin Sun (TRON): crypto plus AI agents is the application scenario of the next five years.

Our read: a swap never had a closing bell.
➡️ Full notes are here