The SEC Chairman's speech on Project Crypto reshaping global finance on Friday further accelerated the progress of RWA and STO, and soon all types of traditional financial targets, including MMFs, T-bills, long bonds, structured notes, stocks, unlisted company equity, REITs, etc., will be put on the chain. The registration process of RWA and the standards of KYC and AML will be lowered, and the prosperity of DeFI is expected. Ethereum is still the core asset this year, and all the past events are just prologue.