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As part of the NBA Cares State Farm Assist Tracker Program, the @NBA, @StateFarm and @HeartofAmericaF unveiled a new STEM Lab at Roberta C. Cartwright Elementary and a new outdoor mini-court at Roger Gehring Elementary. Milwaukee @Bucks guard Ryan Rollins and NBA Legend Danilo Gallinari joined students to celebrate these new spaces for learning and play!

Black Lagoon Roberta She is the strongest in the whole series. Photo by I AM Nik Thanks for assistant: 萌萌 & @Changshin_Vona #cosplay# #blacklagoon# #黑礁# #ブラックラグーン# #広江礼威# #コスプレ#

🎧 RWACast Ep.1: Pre-IPO Onchain: What You're Actually Holding When You Buy a Pre-IPO Token "Some of them buy real shares. Some hold fund units. And some have nothing at all. They just make you a promise." This week on RWACast, we sat down with Robert, Executive Director at Tiantu Asset Management HK (SFC Type 9, ex-ISI), to unpack how the pre-IPO allocation market really works, and why most onchain buyers can't tell which of the three kinds of pre-IPO tokens they own. If you've bought a pre-IPO token, or you're about to, you shouldn't miss this episode. 🎙 w/ @Kristian_cy Mandarin with English subtitles. 🧵 Episode Timeline: 00:00 Welcome to RWACast with Robert, Tiantu Asset Management HK 00:27 Robert's background: ISI, Evercore, Tiantu 04:17 Where pre-IPO returns come from: access first, price second 08:01 How a star deal flows from the cap table down to the market 13:50 When secondary beats primary: $8B round vs $5.5B employee shares 15:31 Where deals break: structure and hidden fees, rarely valuation 22:20 Economic exposure vs legal ownership, and the TRS nobody notices 28:47 Three kinds of pre-IPO tokens: real shares, fund units, or a promise 32:24 Can a company block a token of its own shares? 37:25 What's the fair price: last round, secondary, broker quote, perp 43:40 Conflict of interest: one platform doing everything, no SEC 47:31 The unsolved problem: distribution 50:04 CFIUS, SpaceX excluding China 59:31 Moving tokenization earlier: Anthropic from under $10B to $1T+ 1:07:56 Hong Kong: regulatory innovation and the sandbox window 1:15:34 Final thoughts: platforms have to be the referee Full episode in the comments 👇