June IPA, August full license — two months with BlackRock and Coinbase Ventures on yer cap table, and VARA calls that a "rigorous multi-stage process." Aye, rigorous for some. "Qualified and institutional only" means retail never sets foot on this dock: Flowdesk's 150-venue OTC machine just got a compliance flag to fly over what it was doin' anyway. 🦑

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