Jason Yanowitz

Jason Yanowitz × Santiago Roel Santos

Memecoin–stock-token pools are forcing tokenized equities to confront real liquidity and infrastructure constraints.In the BONER/HIMS pool, roughly 60,000 HIMS tokens and limited weekend minting drove the wrapper to an implied $132, or three-to-four-times Friday’s close, without squeezing HIMS itself.The experiment could accelerate 24/7 markets, but custody, backing, redemption, and token-holder rights remain unresolved.

Jason Yanowitz × Matthew Prince

Automated traffic has already surpassed human traffic, and Prince says agentic traffic could reach 1,000 times human traffic in five years, challenging ad-funded models.Cloudflare is pursuing a micropayments rail targeting roughly 10 million transactions per second, but regulation, capacity and preserving free access remain unresolved.

Jason Yanowitz × Hayden Adams

Uniswap is repositioning as a liquidity network, handling 60–70% of EVM stablecoin swaps while Robinhood Chain delivers its highest volumes anywhere.Hayden Adams argues AMMs can compete through lower capital costs, while correlated base pairs and V4 hooks could extend efficient liquidity to volatile and tokenized assets.That B2B flywheel now ties partner distribution and volume to roughly $100M annualized UNI burn, with payment-network adoption and execution still worth monitoring.

Jason Yanowitz × Paul Frambot

Morpho raised $175M in roughly two-to-three weeks by positioning its network, not code, against a global credit market.Connectivity, enterprise integration, and neutral rails used by Robinhood, Coinbase, and Kraken support the network thesis, while Morpho Midnight tests curator-driven rate control; zero protocol revenue and a deliberately inactive switch leave adoption and monetization timing as key watchpoints.

Jason Yanowitz × Johann Kerbrat

Three weeks after launch, Robinhood Chain reported $750M market cap, roughly half a billion in TVL, 105M+ transactions, 2M addresses, and over $560M in 24-hour DEX volume, with DAU comparisons dependent on measurement.Its Arbitrum stack atop Ethereum prioritizes adoption over chain-fee revenue, while Robinhood’s 27M funded accounts distribute crypto products; tokenized equities offer a global-access wedge whose catalyst remains regulatory clarity, not technology.

Jason Yanowitz × Paul × Se

FOMO is building a pseudonymous, self-custodied trading social graph, with roughly 700,000 lifetime users and 30% deposit conversion.Sponsored fees, USDC balances, 5-bps major-asset pricing, and creator distribution support adoption, while crypto-native users drive 30–50% of volume.Whether the graph compounds before Coinbase, Binance, and Robinhood move more trading onchain remains the key test.

Jason Yanowitz × Ben Jones × Karl Floersch

Optimism’s L2 reset is “hype meets reality,” as chains without fundamentals struggled when real users and businesses evaluated their products.The company has become an enterprise SaaS business, with majority of revenue from enterprise sales, seven-figure annual “chain-in-a-box” deals, and predictable usage-based pricing chosen for institutional legibility.Exchanges are the proven beachhead, while TradFi interest offers a slower-growth pipeline; paid incentives are “on the way out,” making customer conversion and milestone-based economics key variables to monitor.

Jason Yanowitz × Santiago Roel Santos

Anthropic’s Fable was released around June 9 and blocked from export three or four days later, turning AI’s job-loss narrative into a regulatory and political liability.Jordy calls MicroStrategy panic way overblown as Saylor raises about $200M weekly, while Santi sees eventual Monte Carlo failure; open-source models and smart routing may matter more than privacy maximalism, but government restrictions remain an unresolved risk.

Avichal Garg × Jason Yanowitz

AI’s dominance makes early-stage entry difficult, pushing Electric Capital toward cold spots such as crypto.Certora’s formal verification could become critical as AI-powered attacks target DeFi securing billions.Stablecoin rails may let 5-6 billion people with limited U.S. market access pay higher P/E multiples for on-chain cash flows, though token re-rating depends on durable revenue and buybacks.

Mike Cagney × Jason Yanowitz

Connect—not lending—is Figure’s claimed moat: a Six Street-backed guarantor provides a private Fannie and Freddie-style takeout, supporting $1.6B of Q1 volume and roughly 50% adjusted EBITDA margins.First-lien expansion could make TAM 25x larger, but the wallet and native on-chain vision still depend on moving TradFi dollars and securing durable legislative clarity.