Seems to me the odds-on favorites here would be: -a CEX. Historically the most profitable business in crypto is running an exchange because you make money off volume rather than exposure to coin prices. Could be trading against users with proprietary order flow or trading listing announcements (although less impactful in 2025/26) -a perp dex. Not the most profitable businesses in 2026, but profitable. Probably order flow related if that’s the case? (I think this is unlikely) -a token launcher. Again, selling shovels in a gold rush is quite profitable. Not sure what “insider” would look like here tbh - maybe cabal information flow about token pumps? -a trading terminal/shitter trader app. This one would likely relate to frontrun of verified listings *or* exploiting order flow/latency arb. Quite curious to see which it is.