Securitize tokenization play with asymmetric setup

Securitize $SECZ is pretty interesting here. - AUM continuing to grow despite market conditions - Sitting on ~$350m in cash from their recent SPAC merger - ~$80m in annualized revenue run rate based on Q1 reporting - Is expanding into tokenized equities and hinted at tokenizing pre IPO companies - Partnership with the NYSE (24/7 digital securities platform coming in Q4), Blackrock, and more - Price is now consolidating after a significant drop I think Securitize has been largely ignored due to their focus on less exciting products (tokenized funds, treasury bills, etc...) despite them being so successful, but it seems that they'll soon be expanding their offerings. AUM and fundamentals continue to improve as well, and at a $1.2b market cap, the setup seems pretty asymmetric. Main concerns are: - Clarity not passing, which seems likely but perhaps the market has not fully priced it in yet - Potentially bad earnings - Maybe more news regarding the tZero patent dispute Tokenization seems to be the largest interest on the institutional side in crypto and Securitize is the purest method of exposure. Feels similar to Coinbase in 2022.