PANews reported on August 24th that billionaire investor Peter Thiel is betting that Ethereum will become the preferred platform for Wall Street's resellers and asset managers (RWAs). His investment firm, Founders Fund, has invested heavily in Ethereum-related assets and in several companies using Ethereum as a reserve asset, including ETHZilla and Bitmine. Thiel's investment rationale for Ethereum is that if it can become an alternative channel for clearing and settling US dollars, stocks, and other assets outside the traditional financial system, its native token will benefit significantly from increased network activity. However, Nansen research analyst Nicolai Søndergaard pointed out that the claim that "Wall Street is rebuilding its financial infrastructure on Ethereum" is more like a marketing pitch to attract investors to buy Ether stocks.