The institutional ETFs are here en masse and there is now regular traditional media coverage of the crypto startup scene. It mostly lacks nuance but it’s permeating the mainstream zeitgeist. The maturation of market structure also helps here as liquidation cascades are simply less prevalent given the enormous liquidity provided by these traditional... See more

In a sense, one could argue that Bitcoin, and perhaps to an even greater extent Ethereum, Solana, and their peers, are essentially "SaaS" solutions. You pay a fee to the network to execute code; the protocol is the software, and the gas fee is the subscription. While that is admittedly stretching the definition, especially given the massive... See more

• The asset class pulled forward expectations too far in 2021; since then valuations have been rationalizing and are now reasonable for quality assets


• As the U.S. regulatory environment eases, alignment and value capture issues for tokens are finally turning a corner, making tokens more investible


• Growth across the cryptoeconomy is transitioning from

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