सर्वाणि तत्र भूतानि वसन्ति परमात्मनि ।भूतेषु च स सर्वात्मा वासुदेवस्ततः स्मृतः ॥
In plain words
Everything that exists lives in him, the supreme Self; and he, the Self of all, lives in everything that exists. That is why he is known as Vāsudeva — the dwelling and the dweller.
Close to the Sanskrit
All beings dwell there, in the supreme Self; and he, the Self of all, dwells in beings — therefore he is recorded as Vāsudeva.