Key takeaways from Token2049 (and some fun pics) -energy in Asia is incredible. Work hard, play harder culture -AI converging with crypto was the standout theme…focus on agentic payments and trading -tokenization of RWAs continue to be the driving theme of the industry -Demand is maturing for different types of public assets onchain (not just stocks) -US treasuries and money market funds maintain bulk of mindshare and PMF -Winners will be the folks that already have distribution…only real moat these days -Secondary winners will be those who can build headless servicing rails (I.e. @WisdomTreeOnchn for tokenized securities, @moonpay for on/off ramps, @privy_io for wallets, etc) -Global access and leverage are still the primary unlocks for crypto -protocol tokenomics is evolving and with it, VC capital investments will need to as well -Crypto is still undoubtedly one of the most innovative industries. If you’re a builder, find out how to pivot to crypto -I’m starting to dislike the term “suits”because I like wearing them at these events -hot take but MBS is an awesome place to host a conference. Tons of space inside the venue, enough outside for those without a ticket, and it’s full of activities if you need to step away -I’m still jet-lagged as hell Overall: amazing time with incredible people Thanks @token2049 and thank you Singapore

“Onchain” (no dash) to better capture our growing efforts to build and support a hyper-scaling industry 🫡 Clarity or not, here we come!