The benefits of financial innovation are obvious. However, its real test lies in whether financial trust can be maintained during times of stress. Building a resilient trust framework is crucial for macroeconomic financial stability within ASEAN and the China-Japan-Korea (10+3) region, and requires continued policy attention.

IBM's earnings call foreshadows a return of Rigetti's stock price to single digits, while CCCX's stock price is poised for a significant surge. —During yesterday's Q4 2025 earnings call, IBM CEO Arvind Krishna bluntly pointed out the future direction of the industry, which should prompt all Rigetti bulls to cash out while there's still an opportunity. "Quantum advantage requires high-performance hardware. Last December, we deployed our first 120-qubit system based on IBM Quantum Nighthawk for a customer." Citron's analysis: IBM has just told you that "standalone" quantum computers are obsolete. If you're Rigetti, with a market capitalization of $7.2 billion, but only focused on hardware, then in a world where IBM and AMD have just released iPhones, you're like a flip phone. Meanwhile, Infleqtion remains unfazed, having touted its "modular" philosophy for years. While Rigetti was trying to build the complete vehicle, Infleqtion was manufacturing engine parts that were actually fit for IBM's garage. In 2026, the hype will finally die down, and the year of the "cost ceiling crossover" is approaching—a research project costing $7.2 billion, while a real enterprise only needs $1.8 billion. Do the math yourself.

SentinelOne ($S) is ready to shine. Clawdbot heralds the arrival of the autonomous agent era, and this conversation is just beginning, with $S leading the way in protecting cybersecurity. The market is still debating chatbots. The real revolution lies in autonomous agents, and Clawdbot has exposed a security vulnerability. Clawdbot uses the Model Context Protocol (MCP) to perform actual operations on your computer, such as reading files, executing commands, and moving data. This creates huge security blind spots. Traditional antivirus software cannot see into the inner workings of AI conversations. It has no way of knowing that the agent has been maliciously hijacked until damage is done. This is the new threat. SentinelOne ($S) is priced similarly to a fading traditional end-device vendor. But its acquisition of Prompt Security has quietly transformed it into a critical infrastructure provider focused on solving this problem. Prompt Security's MCP gateway acts as a real-time command filter. Every action Clawdbot attempts to perform is inspected. If a phishing email tricks an agent into revealing files or credentials, SentinelOne blocks it before the operation is executed. This isn't "antivirus software." It's the governance layer of the agent ecosystem. If a threat originates from a malicious file on your desktop, and Clawdbot reads that file, Cloudflare can't detect it. But SentinelOne can. The Clawdbot era was a battle for endpoint security. That's the advantage of technology. Prompt Security is at the point of interaction: · Editing sensitive data (PII) before it reaches the model · Blocking unauthorized use of "shadow AI" applications by employees · Enforcing policies during, not after, the operation Now let's look at the valuation. · Cloudflare (Net Asset Value): Approximately 18x P/S ratio, priced based on its perfect AI execution capabilities · SentinelOne (Service Price): Approximately 4.9x P/S ratio, despite holding a key position in agent security It's like a spring ready to be released!

I've been in this business for 25 years. The key is conviction plus timing. Knowing when to withdraw and when to persevere. And constantly monitoring public opinion, preparing before Wall Street notices. This opportunity has just appeared!

$QBTS—when an $8 billion “quantum” company moves from Palo Alto to Boca Raton and suddenly doubles its revenue through a partnership with local Florida Atlantic University (FAU)… there might be a valuation bias worth exploring. I love Boca Raton—it’s home. Great golf courses, beautiful beaches, and it’s the perfect place to do business. FAU is an excellent local university with a significant presence in the region. It’s just… not exactly a quantum technology hub. Perhaps $RGTI will move here too. (Oops, I’ve been too kind lately.)

Plasma's integration with NEAR Intents is quite noteworthy. Previously, the biggest headaches for large on-chain transactions were high slippage and expensive fees. Retail investors were okay, but large investors were really hurt. This time, expanding the asset pool to over 125 types and even boasting "prices comparable to CEXs" indicates a significant improvement in underlying settlement efficiency. For developers, this lowers the barrier to entry for creating DEXs or trading tools; for users, the "wear and tear" of on-chain operations is reduced. Simply put, decentralized trading is becoming more like a "big company," and with this lowered barrier, on-chain liquidity is likely to surge again. #plasma $XPL @Plasma

$CEPT—Aside from Greenland, tokenization is a hot topic at the Davos Forum, and the only pure way to invest in tokenization is through Securitize. Larry Fink isn't a stock salesman, but a Securitize client. BUIL has increased sevenfold in a year. BitGo, which just went public for $2.2 billion, is a custody business in a commodities market with declining profit margins. Securitize holds the key funding. With such a massive potential market and such a bright outlook, it's impossible to even give a specific target price. LFG

$VPG This is another quiet doubling of Citron's value, something to be proud of... Currently no holdings.

$CEPT The New York Stock Exchange (NYSE) announced that tokenization is not a threat, but the ultimate validation. The market assumed the "big players" were developing their own, but in reality, they are building on Securitize's existing infrastructure. 🧵 Category Validation: When the world's most iconic exchanges build tokenized infrastructure, the question "Is this for real?" disappears. Larry Fink previously stated that the NYSE is now taking action. Securitize's previously proposed $19 trillion potential market size? Now it's a basic expectation. Tracking Fund Flows: The NYSE designated the Bank of New York (BNY) as a key partner for tokenized deposits. Two weeks ago, BNY expanded the project, and who spoke about it? It was none other than Securitize CEO Carlos Domingo. Securitize is more than just a supplier; they've integrated into BNY's system. Moat: Securitize is the only company with full-stack vertical integration capabilities: a SEC-registered digital transfer agent, an SEC-registered broker-dealer, and an SEC-regulated alternative trading system (ATS) fund manager. The New York Stock Exchange (NYSE) requires a registration body. This is precisely Securitize's strength. Conclusion: $SECZ is the "cornerstone" of the new financial internet sector. The market has finally awakened: the NYSE has not only created a competitor but also a massive new customer base for Securitize.

$CEPT's short-term price movement has been flat, but entirely positive, further confirming our previous view: it still has significant upside potential. In his 2025 annual letter, Larry Fink wrote, "Every stock, every bond, every fund—every asset—can be tokenized. If they really are tokenized, the way we invest will be revolutionary." Citron is a staunch skeptic. We've witnessed countless hype cycles rise and fall. But tokenization? This time it's real. Securitize isn't just a leader, it's far ahead of the competition. BlackRock, KKR, Apollo, and others are following suit. Hamilton Lane, managing $1 trillion in assets, expects his investment in Securitize to more than double. Once the Clarity Act passes, it's like a spring ready to burst. You can't stop this inevitable trend.