Inflection Point

NEW POD: Kraken Gets Fed Access as Crypto Takes on the Banks We Cover: 🔹 Kraken Fed master account 🔹 Crypto–banking integration 🔹 Stablecoin yield fight 🔹 Crypto’s surprising resilience & more! @marcarjoon @Matt_Hougan @marcryptonio @dlawant Links Below ↓

Crypto has come a long way from operation Chokepoint 2.0 to an account with the Fed. Firms used to show up at banks with $10 million checks only to be told, ‘We don’t want your money.’ @Matt_Hougan Nature is healing.

Kraken may have cracked the Fed door open for everyone. If banks issue yield-bearing stablecoins with master accounts, Circle, Coinbase, and many more may have grounds to demand the same access. @marcryptonio

Crypto is winning its fight against the banks. The White House backing crypto over traditional finance marks a historic political shift in Washington. @dlawant @marcryptonio “It’s absolutely crazy to me that a Republican president is siding with this nascent crypto industry over the banks.”

@marcarjoon @Matt_Hougan @marcryptonio @dlawant Check out the full episode & more below! ↓ ➤ YouTube 🎥: bit.ly/3RRGMgs ➤ Apple🎙️: bit.ly/4lwcEVs ➤ Spotify🎙️: bit.ly/42eoqfF

Big picture takeaways: • Crypto may be exiting the “apathy” phase of the cycle • TradFi and DeFi infrastructure are rapidly converging • Kraken’s Fed access could unlock broader banking integration • Stablecoins + tokenization increasingly look inevitable • The biggest debate ahead: where value accrues in this new system

Crypto just breached the walls of the Federal Reserve banking system while the industry pulls ahead in its fight against the banks. 🧵Summary of our latest episode with @marcarjoon @Matt_Hougan @marcryptonio @dlawant

Crypto markets are starting to lead price discovery. Weekend trading and onchain perps mean macro reactions can happen in crypto before TradFi markets even open. @dlawant

ICYMI NEW POD We Cover: 🔹 Kraken Fed master account 🔹 Crypto–banking integration 🔹 Stablecoin yield fight 🔹 Crypto’s surprising resilience & more! @marcarjoon @Matt_Hougan @marcryptonio @dlawant TIMESTAMPS: 00:00 Intro 01:20 Sentiment Turning A Corner? 10:56 Price Discovery Shifting To Crypto Venues 14:10 Kraken "Skinny" Fed Master Account 37:25 Passing Interest Through Stablecoins 40:54 Mismatch Between Price & Fundamentals 46:44 Banks Competing with Stablecoins & Neobanks 55:42 Final Thoughts

Tokenization isn’t the debate anymore. Stablecoins and tokenized assets already feel inevitable inside crypto; the real uncertainty is where the value accrues. @Matt_Hougan Does it accrue to L1s? Do DeFi apps have pricing power? Will TradFi institutions co-opt everything onto their own chains?

Apple 🎙️: shorturl.at/Q3pOT Spotify 🎙️: shorturl.at/jHaud YouTube 🎥: youtu.be/hrqdU_I8nvk

NEW POD: Kraken Gets Fed Access as Crypto Takes on the Banks We Cover: 🔹 Kraken Fed master account 🔹 Crypto–banking integration 🔹 Stablecoin yield fight 🔹 Crypto’s surprising resilience & more! @marcarjoon @Matt_Hougan @marcryptonio @dlawant Links Below ↓

Kraken may be the hardest crypto company to kill. Direct Fed access and a full financial stack of exchange, bank charter, custody, settlement, and tokenization under one roof. Crypto’s version of vertically integrated market infrastructure. @marcryptonio

Join the crew for a live episode of Inflection Point on stage at DAS We'll be there. Will you? @marcarjoon @Matt_Hougan @marcryptonio @dlawant

2nd episode dropping tomorrow! We go deep into @krakenfx's Fed account, the battle over stablecoin yields, and the banks fighting crypto disruption. @marcarjoon @Matt_Hougan @marcryptonio @dlawant

Gold’s rally isn’t Bitcoin’s failure. Gold is surging this year because central banks are buying while Bitcoin follows its four-year cycle. The 20-year thesis hasn't changed and Bitcoin still fits a digital world better than gold. @Matt_Hougan