Retail traders now access extreme leverage easily; crypto onboarding requires minimal verification.

And now retail has everything on their phone. They have perps. They have a hundred X, thousand X leverage, prediction markets, copy trading, DeFi staking, social trading. There's a million ways that you can express your financial opinion as ill formed as it may be with unlimited ease now. Like I remember back when I started trading, at least in traditional finance, I couldn't even open an account because I didn't have enough money. Like I think I needed like $25,000. I want to say it was the amount I don't quite remember just to be able to open the brokerage account. Whereas now I had to get a photocopy of my passport and then fax that.