- Arbelos takeout by FalconX

- Deribit takeout by Coinbase

- Antalpha IPO soon @ 65x+ LTM PE / 300 mm

- Wen SignalPlus corp event? Prob something cooking

Continue to be bullish $MATH in the same lane that trades cheap vs. its comps anywhere.

FWIW the CEO's wife joining is really solid. For those who know this industry, she runs the best structured product desk in Tradfi for Greater China. Biz prob going quite well. Eyes on next FY print for Mar 25. Stock up on her joining but don't think a strategic premium is baked.