Coinbase's integration of stock trading further confirms my long-held view that the future of cryptocurrency lies in its integration with traditional finance (TradFi). Soon, we will see the boundaries between traditional finance and cryptocurrency completely disappear. Specifically, this will manifest in: - Users will be able to trade stocks online or cryptocurrencies through stockbrokers; end users will have the choice. - All transactions will have participants, whether on-chain or off-chain. - Prediction markets will be integrated. Traditional brokers and emerging platforms like Robinhood and Coinbase will merge into a "super casino"—"trading any commodity," and so on. In the long run, liquidity will converge where the returns are highest; I believe on-chain is likely the best option because it's new, less competitive, and offers more significant trading opportunities. For example, large market makers in the securities market are likely to begin hedging arbitrage opportunities between on-chain markets and traditional trading platforms. This means increased on-chain liquidity. Many opportunities will emerge in this process, but the most obvious winners will be those companies that are the first to venture into market making.