Cerebras Systems (Derivatives) (CBRS)

back then airdrop farmers + private round buyers had allocations but zero liquidity. Telegram OTC was pure trust me bro.

pre-TGE markets became a real crypto primitive. pre-IPO might become the TradFi version of that but way bigger.

TradFi private markets already massive:

> $240B secondary volume in 2025
> ~$18T private market AUM projected by 2027
> 71% of VC exits now happening through secondaries instead of IPOs

everyone wants OpenAI, SpaceX, Anthropic, Stripe exposure before Wall Street gets the clean entry and dumps the public listing into them. but access still completely broken.

> 15-45 day settlement
> accredited investor gates
> $15k-$50k minimum tickets

now crypto wrapping all that demand into products ppl can actually ape from a phone and somehow it’s working better than expected.

@tradexyz priced $CBRS within ~3% of its Nasdaq debut while traditional secondary platforms were reportedly ~35% off.

kinda insane when global crypto traders discovered price better than accredited-only private markets.

the wall around private markets already starting crack open and hard to close it again once ppl taste permissionless access.

Wall Street used to consider the crypto market an outsider. But last week, a classmate who works on Wall Street sent me Bitget's futures chart, saying it appeared in an internal company meeting.

Because $CBRS's IPO hasn't opened on Nasdaq yet, we managed to predict the exact opening price.

From outsider to being copied. This reversal is worth a thorough discussion 👇