According to CoinMeta, Zhao Changpeng (the founder of Binance), predicts that traditional IPO models will fully transition to blockchain. He states that the public issuance of tokenization will provide companies with around-the-clock liquidity, seamless interoperability with DEFI protocols, and direct access to global retail capital. The main confirmation of this argument comes from the field of artificial intelligence; the trading volume in the pre-sale market of Claude, created by Anthropic, surged within a month before its official launch, with the trading volume of on-chain derivatives reaching millions of dollars. CZ's predictions are based on an on-chain infrastructure of real assets with a total market value of $33.6 billion, of which tokenized stocks and ETF account for approximately $3 billion. Binance's Bstocks platform holds a 21% share in this niche market, amounting to about $627.5 million, with 981,215 holders. Although the total value of tokenized stocks is still insignificant compared to the $55 trillion market value of the traditional U.S. stock market, the strong fundamentals of Anthropic have driven a sharp rise in the prices of its pre-IPO derivatives.