Your daily snapshot from the Messari screener.
We’ll be in Osaka next week for Devcon. Hit us up if you want to meet! If you’ve got a long weekend flight: subscribe to the Unqualified Opinions podcast and listen to some of my chats with Devcon speakers like: Taylor Monahan (MyCrypto), Sergey Nasarov (Chainlink), Doug Petkanics (Livepeer), and Ameen Soleimani (MolochDAO)… not to mention dozens of other attendees and sponsors.
See you in Japan!
Meme of the week…
Wences in incognito mode:
(meme courtesy of @Ryan0Walker)
Schadenfreude of the week…
They say Bitcoin is a Ponzi:
And, of course, our weekend reads…
Messari’s weekend reads:
Institutional Cryptocurrency Adoption — ‘How’ and ‘Why’ Matters More than ‘When’ - Evan Feng
How Discount Brokerages Make Money - Patrick McKenzie
The Threat to Limit Capital Flows to China and Pending Impeachment Conflict: Next Logical Steps in a Classic Dangerous Journey? The 1935-45 Analogue - Ray Dalio
Aggregators - Ash Egan
State of Crypto Markets in Asia - Bobby Ong
Five Ways a Nuclear War Could Still Happen - Tom Nichols
Have a good weekend y’all.
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Messari Compression Algorithm
Content and thoughts from around the web as summarized by the Messari team.
🤝 [Analysis] Institutional Cryptocurrency Adoption — ‘How’ and ‘Why’ Matters More than ‘When’
Many long-term crypto bulls take for granted inevitable institutional investor participation and adoption, often without thinking through the How or the Why, and instead wondering perennially about the When. In the October issue of his thematic overview series, Evan Feng of Tapestry Capital leverages his past life as a buy-side analyst to not only think through why some of the more common hedge fund and mutual fund would decide on initial allocations to digital assets, but how specifically and numerically that decision would work its way through the existing market structure via a modeling exercise.
As it turns out, urgent net inflows against the backdrop of a disinflationary asset does present a very real catalyst for price appreciation, but it all hinges on the long-term fundamentals of the asset class, which may not look quite as familiar to traditional investors at first blush. (share or read more)
Quick Bits (Don't read that, I read it for you)
Choke Points (Exchange News)
🇯🇵Six Japanese brokerage firms including Nomura Securities have formed the Japan STO Organization, a self-regulatory organization focused on security token offerings (STO). The group will issue rules and guidelines for issuing STO's as well as regulating members and lobbying to support STO development in Japan. (share or read more)
Startup Signals (ICOs, Cryptos, and Startups)
🔐Qualified custodian BitGo has offered staking support for Dash ($DASH) and Algorand ($ALGO), offering returns between 7-13%. The firm has also acquired Hedge, a staking infrastructure provider to further build out its services. (share or read more)
The Powers That Be (Legal/Reg/Policy)
🧐In a letter sent to Federal Reserve Chairman Jerome Powell two U.S. lawmakers have asked the Fed to look at adopting a digital currency for the U.S. dollar. Rep. French Hill (R-Ark.) and Rep. Bill Foster (D-Ill.) argue that the U.S. has "the ability and the natural role to develop a national digital currency." Specifically, the Congressman stated,
“We are concerned that the primacy of the U.S. Dollar could be in long-term jeopardy from wide adoption of digital fiat currencies. Internationally, the Bank for International Settlements conducted a study that found that over 40 countries around the world have currently developed or are looking into developing a digital currency.”
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