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1. U.S. economic data is going onchain

The U.S. Secretary of Commerce says the agency is publishing official stats, like GDP, across multiple public blockchains with help from oracle and crypto exchange partners. It’s obviously not perfect yet and the details are still being worked through, but the direction is undeniable, the government is treating blockchains as an open-access source of truth.
Why it matters: This legitimizes public ledgers as critical infrastructure. Once core data is onchain, you unlock automated disclosures, composable analytics, and trust minimized feeds for any fintech or DeFi app that wants them.

2. Pantera looking to raise $1.25B for a Solana public treasury vehicle

Wall Street has clear proof of demand for crypto, so we’ll keep seeing capital raised to fund “crypto strategies.” We’ve seen it with the Bitcoin and Ethereum ETFs, with treasury companies like MicroStrategy (Bitcoin treasury), Bitmine (Ethereum treasury), and now potentially a large Solana treasury company. Our view remains that owning the underlying crypto assets themselves, and participating in staking, is the better long term proposition for most. But these wrapper strategies will keep coming, especially as Wall Street leans further into DeFi.
Why it matters: Wall Street demand for crypto products is at all-time highs.

3. Google is building a blockchain

Google’s Web3 team is talking more openly about Universal Ledger: finance first, Python smart contracts, and pitched as “neutral” infra competing with Stripe’s and Circle’s chains. CME has reportedly tested integration. We don’t necessarily see it as neutral - it’s controlled by a single company and not built on trustless rails like Ethereum. Still, it’s another clear data point: companies are realizing blockchains move value and data better than legacy tech.
Why it matters: Even if it’s permissioned, large corporate chain efforts pull more enterprises into onchain workflows, and that gravity will likely only bring awareness to the benefits open ecosystems too.

4. Tokenized RWAs on Ethereum up ~20× since January 2024

Asset managers are realizing they can do more, faster, and cheaper onchain. Treasuries, private credit, and more are moving onchain because the UX (instant settlement, 24/7 liquidity & trading, composability) simply beats legacy rails.
Why it matters: As yields, collateral, and cash go natively onchain - payments and eventually all other asset classes will follow.

5. Polymarket is going mainstream

The app people are just now realizing runs on crypto rails is getting referenced everywhere and adding markets fast. Polymarket is a prediction market to bet on outcomes from sports to rate cuts to “Will Taylor Swift get engaged this year?” It’s booming in finance, politics, and now sports and pop culture, helped by a much lower take rate than sportsbooks, and offering markets that don't exist elsewhere. This one is worth a read.
Why it matters: Polymarket is a prime example of solving a real world need through crypto rails, one of the first truly product first crypto approaches that has hit mainstream.

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Disclosures: This newsletter is for informational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any securities. 401 Financial is a Registered Investment Advisor. Investments involve risk, including the potential loss of principal. Please consult with a qualified financial professional before making any investment decisions.