centrifuge shipped production zktls for undercollateralized lending. first protocol that verifies web2 credit data on-chain without exposing it. cfg down 44% from october highs because 9.37% of supply got bricked in migration and an exchange delisted. $1.3b tokenized in 2025, sec transfer agent registration, coinbase listing, but market cap shows $0 on coingecko. infrastructure getting built, token getting rekt on technicals not fundamentals.