JUST IN: @CantonNetwork adopts Chainlink data and interoperability standards to unlock institutional tokenization. ✅Data Streams (incl. 24/5 equities) ✅ SmartData (NAV & AUM) ✅ Proof of Reserve ✅ CCIP Canton 🤝 Chainlink

𝐁𝐑𝐄𝐀𝐊𝐈𝐍𝐆: 𝐌𝐨𝐬𝐭 𝐋𝐏𝐬 𝐝𝐨𝐧’𝐭 𝐚𝐜𝐭𝐮𝐚𝐥𝐥𝐲 𝐡𝐚𝐯𝐞 𝐚 𝐃𝐏𝐈 𝐩𝐫𝐨𝐛𝐥𝐞𝐦. 𝐓𝐡𝐞𝐲 𝐡𝐚𝐯𝐞 𝐚 𝐥𝐢𝐪𝐮𝐢𝐝𝐢𝐭𝐲 𝐩𝐫𝐨𝐛𝐥𝐞𝐦. Let that sink in. Everyone in private markets is obsessed with getting money out. Distributions. Liquidity. DPI. But that framing is backwards. On my recent episode with Yuval Rooz, he challenged something most LPs never question. The real issue isn’t returns. It’s what you can do with your assets while you still own them. In public markets, assets are useful before you sell them. You can borrow against them. You can move them instantly. You can redeploy capital without exiting. In private markets? Your capital is locked. Illiquid. Operationally expensive to touch Here’s the paradox: The industry talks about liquidity as the solution but selling is the least intelligent form of liquidity. Selling destroys optionality. Borrowing preserves it. If an LP owns a $10M position in a top-tier fund, there are plenty of lenders who want to lend against it. The problem isn’t demand. The problem is friction. Legal friction. Operational friction. Settlement friction. And here’s the uncomfortable truth: Those frictions exist because someone profits from them. Every delay. Every manual process. Every “this takes weeks.” That float is a business model. The central insight: DPI improves not when you force exits but when you increase the utility of ownership. More utility = fewer forced sales. Fewer forced sales = better long-term outcomes. Practical takeaway for LPs and founders: Stop asking, “How do I get liquidity?” Start asking, “How useful is this asset before I sell it?” That question changes everything. Thank you Steve McLaughlin for the kind introduction! We’d like to thank @AlphaSenseInc for sponsoring this episode! #Investing #PrivateMarkets #CapitalAllocation #Leadership #LongTermThinking Link to Podcast in Comments Below 👇