Aave’s Shiny New Vendor Process Aave has proposed a new process that should streamline and increase the quality of their service provider agreements. I will admit that I have recently been disappointed in Aave after the discovery that Aave was poten... Read more

One noteworthy news this week: The SEC charged Impact Theory with an unregistered offering of NFTs. Context: Impact Theory is founded by Tom Bilyeu, an entrepreneur and co-founder of Quest Nutrition. Impact Theory sold $30M worth of its “Founders ke... Read more

RWAs, or real world assets, are a big narrative in the crypto world. It’s crypto’s best shot of integrating with traditional finance. Simply put, it’s taking traditional assets and tokenizing them on public-ledger blockchains. Maker, Centrifuge, Mapl... Read more

Despite Friend.tech’s recent success and virality across Twitter, I have been underwhelmed and skeptical of its long-term success. Friend.tech is cool, and the team has done a great job creating incentives to onboard people. But the bonding curve see... Read more

Every month, Raoul Pal and I sit down to share our latest ideas on crypto, macro, and where we see markets heading from here. It’s always a wide ranging conversation, and this month was no different. Our discussion centered around: Reactions to the... Read more

Isn’t it funny how token unlocks generally seem to follow announcements that are favorable for the token in question? Well, it’s not always a coincidence. In a report titled “The Curious Case of Token Unlocks” that I published last December, I went... Read more

We’ve explained our rationale for why we believe we’re in the early innings of a new cycle. This morning, I hopped on Schwab Network to spread the good word to more TradFi investors. Here’s a short clip from the longer segment discussing the recent... Read more

The TLDR from Jay Powell’s Jackson Hole speech: not much. Despite his highly anticipated comments, we don’t really have any more insight into the future trajectory of rates than we did a couple hours ago. The opening statement is usually where we ge... Read more

Recent Research 📊 Blur: A Fundamental Analysis of NFT Marketplaces – 8/24 This month, our NFT report covers the following: An overview of NFT marketplaces on Ethereum. A comparison of NFT marketplace tokens, looking at revenue and competitivenes... Read more

As discussed in our recent report, GHO has struggled mightily to maintain its peg since launch. As a result, many frustrated DeFi users have called GHO’s entire design into question. I find this to be a short-sighted reaction, considering the mere ~2... Read more