Subject: File No. SR-NASDAQ-2025-018
From: Gerald H Falsetto

A few words on behalf of the Hbar ETF filing. I first heard Leemon Baird and Mance Harmon speak in 2018. As you know, they are both professors and retired officers at the United States Air Force Academy. Mr Harmon has on his resume the position of head Air Force war games program in addition to multiple academic awards. DR Leemon Baird is a scientist in multiple fields including mathematics, artificial intelligence and of course the innovator of the Hashgraph algorithm. Together, they created Hedera Hashgraph with a distinct governing council made up of over 30 world class organizations and universities. They decided to build the platform in the United States and have been consistent in the importance of building in the United States throughout. I have met both professors and have kept up on the development of the platform since inception. The Hedera hashgraph is a constant on the ethical building front and it is through this platform that I have gained an understanding on how Digital Ledger Technology can benefit not only the US, but mankind. Immutable notarized record keeping is here to stay and I urge you to strongly consider the listing of Hbar the ETF. Thank you for your consideration.