Thank you, Robby [Greene] , for that kind intro. I am delighted to see that Robby, once my research assistant, has clearly gone on to bigger and better things. I also am delighted to be here in Singapore, by some accounts the global crypto-hub, [1] and appreciate the hospitality of the Singapore University of Social Sciences. I am particularly grateful for the opportunity to learn about the developments in crypto in Asia, which, as I do not need to tell this audience, is home to a very active part of the crypto community. Before I get too far along in my remarks, I should note that the views I express are my own and not necessarily those of the United States Securities and Exchange Commission or my fellow Commissioners.

One view in which I am undoubtedly alone is my perspective on pandas. Black-and-white pandas are all the rage in the United States. They do look adorable, but I find them a bit pedestrian. Red pandas, the so-called lesser pandas, are much more interesting. Being in Asia brings me closer to red pandas’ natural habitat than I have ever been before, although I believe that the only red pandas in Singapore are residents of River Safari Wildlife Park. We also have red pandas back in Washington, DC at the zoo, and it was one of these red pandas that first sparked my interest in the species. Several years ago, one of our local red pandas, “Rusty,” made a daring break for freedom by climbing up a tree and out of his cage into the wide world beyond the zoo. [2] During his days of freedom, the renegade red panda developed quite a following, particularly after a Twitter account appeared in his name. As it turns out, Rusty was not alone among his brethren in his quest for freedom. A Google search for red panda escapes reveals something of a trend: red pandas have escaped from zoos in Virginia, Washington state, North Dakota, Australia, and Ireland, just to name a few. A few of these red pandas have been on the loose for quite some time. What a contrast red pandas offer to black and white pandas who sit comfortably within the view of the PandaCam [3] looking cute and munching on bamboo. Although I am not advocating zoo breaks, red pandas’ seemingly innate desire to explore the world outside the fences has an inherent appeal as a symbol of human innovation.

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