Asymmetric Market Update™️ #23

Crypto is designed to break down barriers, allowing the best money to rise to the top. We see this behavior in stablecoins, where >99% of stablecoins are US dollars. There isn’t a whole lot of organic demand for fiat currency #109. Many people are artificially restricted from holding dollars offchain, which is a major reason for the success ... See more

In the press release, Stripe highlighted its partnership with Shopify, which is using Treasury to build Shopify Balance.

Capital is flowing into crypto. Over $20B in crypto funds have been raised since the start of 2021 per Dove Metrics. Dry powder is abundant, but liquidity is asymmetrically distributed. Most capital is focused on early-stage, private projects. That’s not sustainable. While retail investors have been able to consume the float of historical crypto ve... See more

Since December 2017, the crypto market evolved to a 2.0 iteration, growing from a market designed for individuals to one that’s institutionally accessible.

TradFi companies are trying to package together financial instruments other TradFi companies feel comfortable buying so that they don't have to hold crypto due to various regulatory complications.