Kraken doubles down on prosumers. Prediction markets stay hot. Hyperliquid sets the benchmark in decentralized exchange efficiency. And LayerZero consolidates one of the most important bridging protocols onchain. Here’s what we’re tracking. SubscribeKraken acquires Capitalise.ai, a no-code trading platform Capitalise is a prosumer-focused platform that lets users automate trading strategies with no code. This is another signal that the prosumer market is a prime segment. Capitalise joins Krak...

MetaMask moves into stablecoins. OpenSea adds cross-chain buying. And Stargate enters one of the first serious onchain acquisition proposals. Here's what we're tracking. LayerZero bids for Stargate in rare onchain M&A LayerZero has offered the Stargate DAO a buyout worth nearly 7x revenue. Stargate is the DAO-governed bridge built on top of LayerZero infrastructure. The deal would consolidate control while distributing the protocol’s treasury to DAO holders. Thanks for reading! Subs...

Our notes on token design...

This week was packed with insight, from the decisions behind embedded wallets, to Hyperliquid’s ascendance...

At SGV, we’ve seen a handful of upstart prediction market players introducing novel mechanisms and add ons to the already bleeding...

Watching Founders in Motion...

Living in an emerging economy where traditional banking still feels stuck in the past...

Here's the latest updates on our internal thinking: Zora is moving. We’re up from our avg entry of $0.009. Our thesis was published here. Catalyzed by the base app...

When we first published this memo internally, $ZORA had just launched. The token was dropping fast. The narrative wasn’t clear. But...

This is a redacted and adapted version of our Q2 internal investor's update. 25Q2 was the quarter revenue came back into focus, and not just for us. From Hyperliquid to Maker, from Stripe’s acquisitions to Coinbase’s onchain consumer narrative. Crypto is shifting from narrative-first to numbers-first. For us, the Revenue Meta is the only true meta (which will evolve into the margins meta soon). From Coatue’s annual keynote, great view public and private markets, and one specific slide out the...