now that everyone is freaking out about @coinbase sponsoring the U.S. army parade, my essay for Friday's @DefiantNews newsletter seems more timely
tldr: coinbase is close to owning the entire crypto stack. Is that good for crypto? depends. If you prioritize onboarding billions of users, probably yes. If you prioritize decentralization and censorship resistance, then it's not so clear.
🤩 First podcast interview from me in our new studio!
And it was with the very based Sandy Kaul, head of innovation at Franklin Templeton @FTI_US the $1.5 trillion asset manager going onchain.
AND she hinted at some major moves, said that Franklin Templeton is gearing up to: – Launch IP-related tokens (music? video? art?) via a major partnership 👀 – Plug Benji as collateral for DeFi protocols, they're waiting for regulatory green light – FT is in talks with major shipping cos to use Benji in supply chain finance – Continue tokenizing funds, and rolling out new crypto ETFs.
She also made this prediction: Within 3–5 years, all new funds will launch natively onchain.
Plus gems like why it might be better to hold Benji versus a yield-bearing stable.
🤩 First podcast interview from me in our new studio!
And it was with the very based Sandy Kaul, head of innovation at Franklin Templeton the $1.5 trillion asset manager going onchain.
AND she hinted at some major moves, said that Franklin Templeton is gearing up to: – Launch IP-related tokens (music? video? art?) via a major partnership 👀 – Plug Benji as collateral for DeFi protocols, they're waiting for regulatory green light – FT is in talks with major shipping cos to use Benji in supply chain finance – Continue tokenizing funds, and rolling out new crypto ETFs.
She also made this prediction: Within 3–5 years, all new funds will launch natively onchain.
Plus gems like why it might be better to hold Benji versus a yield-bearing stable.
Polymarket + X is rightly hailed as the triumph of a blockchain-based application that has properly gone mainstream. Yes, it’s the Trojan horse of crypto. Yes, it’s an inspiring story of perseverance.
Yes we need better token launchpads so that more legit projects can fundraise in public token sales with the necessary compliance and vesting tools -- Cobie's Sonar is a step in the right direction.
But we also need tokens to be actual representations of protocol/company value onchain. That hasn't happened because there's still regulatory uncertainty.
Tokens are the heart of web3. There needs to be a move from "valueless" "for fun only" tokens to actual onchain equity.
It's tbd whether SharpLink can get the favorable terms Strategy got to execute its leveraged BTC buying flywheel, and actually become Ethereum's Microstrategy -
but one way SBET can easily outshine MSTR is in providing proof of reserves, using cryptographic proofs to show shares are backed by ETH.