Craig O'Sullivan

“The Future is Corporations holding Bitcoin to create High-Powered Digital Money.” -- Satoshi Nakamoto What an amazing time hosting the legendary Michael Saylor at @EconClubofMiami last night!! @saylor never disappoints as he shared a ton of insight on his Bitcoin philosophy, his company's mission, and the current state of the market for more than two hours with club members including a fireside chat that I moderated. Our conversation covered how @Strategy , the world's first and largest Bitcoin Treasury Company, is transforming digital capital into digital credit and amplifying Bitcoin exposure for investors, its challenge of MSCI's proposal to exclude Digital Asset Treasury companies from its benchmark indexes, and whether he believes Bitcoin's traditional 4-year cycle is dead. I've always enjoyed hearing Saylor speak at industry conferences, so I was delighted to host him in a private, intimate setting. Thank you to Michael for visiting us and to @fgonzalez1978 for producing yet another top notch event for The Economic Club of Miami!

Enjoyed participating in this @beincrypto discussion on Prediction Markets. We covered how institutional investors are using prediction markets as well as the outlook for this rapidly evolving industry that has upended sports, finance, and politics. Over the past 6 months, @Polymarket and @Kalshi trading volume has tripled while institutional use has grown by 800%. Firms are using these platforms to hedge political & economic risks that options/futures don’t cover cleanly such as election outcomes, Fed rate decisions, and geopolitical conflicts. Sports betting accounts for 60-70% of volume, and the professional sports leagues are noticing. This week, the @NHL and the @CFTC signed an agreement that covers info-sharing, confidential coordination on insider trading, and manipulation risks. NHL already has partnerships with both Kalshi and Polymarket. In March, @MLB signed the same CFTC integrity agreement and secured an exclusive sponsorship with Polymarket. Thank you for the invite @c_grigera , and for leading the panel discussion on this timely topic.

Tokenization of Real World Assets was a common theme at #Consensus2026, and it’s emerging as one of the biggest stories in finance. Institutions are finally embracing the concept as it not only reduces settlement times, but also enables around-the-clock trading which is essential as the market demands liquidity for geopolitical events and Agentic AI trading becomes pervasive. Last week, @jpmorgan filed for a new tokenized money market fund, $JLTXX, which will invest exclusively in short-term US Treasuries. This move comes on the heels of @BlackRock seeking SEC approval for its 2nd tokenized fund, $BSTBL. Once again it has partnered with @Securitize, this time to merge traditional transfer-agent services with public blockchains. Two years ago the tandem launched $BUIDL, the largest tokenized fund. The tokenized RWA market has grown more than 5x since 2025 and now exceeds $30B, half of which is tokenized treasuries. 70% of these funds run on the #Ethereum network.

@LorenzoARK @fundstrat @consensus2026 @Uniswap Get your generational facts straight: 50-year olds are not Boomers, they’re Gen Xers

Just got back from @consensus2026 Miami. Some unfiltered thoughts on the vibes: The industry has clearly grown up. The degens are gone, the allocators are wearing suits, and your @Uniswap booth has been replaced by a JP Morgan activation with 50 year old boomers. Cautiously optimistic with a distinctly institutional aftertaste. This was not a bull market conference. Key takeaways: 1) CLARITY Act has serious momentum. Everyone at the conference basically agrees it's getting done before summer. The urgency is real, people are done waiting. And the regulatory window feels genuinely unprecedented: CLARITY Act, GENIUS Act, a CFTC chair actively engaging with the industry, this combination has never existed simultaneously before. The institutional urgency you're seeing everywhere is directly correlated to this window feeling time-limited. Miss it and you're explaining to your board why you sat on your hands during the most favorable crypto regulatory environment in history. 2) Institutions are not dabbling anymore. They are ALL IN on tokenization and terrified of missing it. No one is debating whether blockchain rails are useful. The debate is now who gets the mandate. And quietly @coinbase , @krakenfx , @RobinhoodApp and @Bullish and others are being seen more as competitors than potential partners by a lot of these TradFi players. 3) TradFi M&A is going to keep ripping. @krakenfx just grabbed Reap for $600M. Visa, Mastercard, Swift etc they can't miss the train and they're willing to overpay for the ticket. 4) Crypto VC is consolidating fast. @a16z and @katie_haun just announced $2.2B and $1B funds respectively. Meanwhile the boutique VCs are either pivoting to AI or quietly closing shop. Same playbook is happenign as traditional VC, the big platforms eat everything and the small guys scramble. Seed and pre-seed is basically a ghost town right now. Late stage and pre-IPO is where the action is. 5) Investment themes were aggressively consensus (no pun intended): Stablecoins, tokenization, vertically integrated neo-banks, regulated or permissioned DeFi. Literally everyone is trying to be a tokenization platform. Issuance, management, settlement, curation, pick your lane, slap tokenization on it, try to raise money. 6) Building in crypto is genuinely hard now. Your competition isn't some scrappy new L1 or GMX, it's @tether , @Anchorage , and @Securitize. there are now many crypto businesses running 200M+ annual Rev with serious management teams and deep pockets. The barbarians are now the establishment. New entrants are going to have a very bad time. 7) Pure token-only plays have become extremely contrarian. Controversial take but I think the biggest returns will come from a handful of tokens that can credibly signal in a compliant way that the token remains the only value accruing asset going forward. 8) A lot of teams are in a genuinely weird spot on the token/equity dynamics. Decent products, decent teams, but a complete stakeholder clusterf*** that nobody can untangle. Many of these will simply not survive. 9) The agentic finance and agentic commerce crowd was loud. The actual substance was not. A lot of big claims, very little to show for it. Feels very early and mostly vibes. Color me skeptical for now. 10) @Bullish acquiring Equinity for $4.2B was the boldest move of the conference. @ThomasFarley and @BonannoDavid now have a full-stack RWA proposition: issuance, transfer agency, tokenization, exchange and settlement under one roof. Massive move. Very positive for the industry regardless of whether you think the price or the move were right. 11) @BitMNR and @fundstrat are apparently tired of winning and has decided to let your grandma keep her ETH... for now. The pace of accumulation is slowing. Tom, we await your next allocation with bated breath. 12) DeFi apps are moving up the stack and getting smarter about it. They don't want to be the commodity infrastructure layer getting squeezed by exchanges that own distribution. Some genuinely interesting announcements, @buffalu__ at @jito_sol launching JTX being the highlight. 13) Nobody at the conference was talking about retail coming back. The entire conversation was institutional. That's either a sign of maturity or a sign that the industry has quietly given up on mainstream consumer adoption for now and is betting the next cycle gets pulled by institutional flows rather than retail FOMO. Probably both. 14) The L1 debate is officially dead. Nobody and I mean nobody was arguing SOL vs ETH or pitching their shiny new L1. The crowd that used to religiously defend their chain of choice has either grown up, cashed out, or both. Institutions don't care about your consensus mechanism. They care about settlement finality, compliance rails and liquidity. The L1 wars were fun while they lasted. RIP. 15) DATs are a mess. Had some genuinely productive conversations with a few of them but let's be honest most are an absolute clusterf*** operationally and very few are running anything resembling a legitimate business. The structure is a disaster at the stakeholder level and the governance makes your average startup cap table look clean. That said, the permanent capital vehicle concept is still genuinely compelling and I think a handful of these will turn out to be absolute home runs. The model isn't broken, most of the teams just are. Bottom line: Consensus 2026 felt like the moment crypto stopped being a movement and started being an industry. Whether that's exciting or depressing probably depends on when you got in.

Closed out #Consensus2026 in style at the 4th Crypto Polo Cup presented by @LunaPRofficial. @nikichain hosted yet another first class event! Congrats to @BinanceUS for the W and thanks to @cakewallet for the hat on this hot sunny day ☀️ @NaorisProtocol

@ClayTravis @timburchett None of the alien 👽 videos and info that has been released over the years has been compelling and it will remain so

Hey @timburchett, on a scale of 1-10, 1 is not much, ten is holy crap, what are these UFO files going to be like?

Today @SuiNetwork is hosting one of the biggest side events during @consensus2026. Not surprisingly, Agentic AI and Tokenization are two of the biggest topics. #consensus2026

During #Consensus2026, @solana hosted its flagship community conference @SolanaAccel featuring @carlosdomingo , @LuisSuarez9 , @BoHines , @SenRickScott , @JTLonsdale , and @DeLoreanlabs

@Yankees He put his all into it every game

For John 💙 #RepBX

Great Scott! Doc Brown’s DeLorean has landed in Miami for #Consensus2026 @SuperteamUSA and @_thebestevent kicked the week off in style with a welcome reception at a private villa tonight featuring @sumvin, @tbvxyz, and @Hashlock_

@charliebilello That’s how memecoins and most other crypto projects outside of the Top 25 are — just speculative hype

Update: The Trump Meme coin is now down 97% from his post promoting it back in January 2025, hitting another all-time low today. How is this legal?

🏀 Legendary @CanesHoops Coach Jim Larrañaga visited @EconClubofMiami tonight to share his words of wisdom and coaching philosophy. “Life is 10% what happens to you and 90% how you react to it so be positive…and always carry yourself in a first class manner.” @CanesCoachL

The morning after his father’s passing, @TimTebow showed up at @eMergeAmericas and channeled grief into purpose 🙏 No one would have blamed him if he didn’t, yet he still chose to be there and delivered a message that inspired thousands. A powerful reminder that legacy isn’t what you leave behind, it’s what you carry forward ♥️ Grateful my 10 yr old daughter helped introduce him and witnessed that moment firsthand. Honored to have shared the stage with him, and forever grateful to Tim and what he represents. This world is a better place because of people of like you, Timmy 🥹 #Leadership #Inspiration #Purpose #Legacy #Gratitude #FaithInAction #emergeamericas #miami #uf #ufalumni #GatorNation

@ATRightMovies The Godfather films are obvious classics, but both films by Michael Mann, The Insider and Heat, have also had a lasting impact

Happy birthday AL PACINO. Which is your favourite of his?

With the highest number of #fitness studios per capita, the pursuit of Blue Zones status, and last week’s citywide festival on well-being, Miami is rapidly emerging as a #wellness destination for founders developing holistic solutions for health and #longevity As @TravelLeisure observed, “the volume of Miami-based wellness tech startups on a mission to optimize and understand every facet of well-being, from performance to preventative health” is rising such as @eightsleep which closed a $50M round led by @tether for its AI-powered sleep improvement business worth $1.5B

@elerianm @Mets @MLB @SNY_Mets Make it 9 straight!

It’s now eight straight losses for the Mets. Eight! I can hear some saying, “Well, the Mets always collapse.” True—BUT it doesn’t usually happen this early in April. Let’s Go Mets. Let’s get out of this rut! @Mets @MLB #lgm @SNY_Mets

@zerohedge So has every other token outside of the top 10

President Trump Faces Renewed Backlash As Trump-Linked Tokens Crash zerohedge.com/crypto/preside…

Enjoyed leading off @MoneyShow Masters Symposium in Hollywood with @RealMikeLarson and @eltrade ! We discussed how the Iran War ceasefire, the Clarity Act impasse, and historical cycles will impact the stock and crypto markets over the coming months.

@FrancisSuarez @InterMiamiCF @FoxNews I was at the game too!

Yesterday was a magical night in Miami, and this week brought two big wins, the new @InterMiamiCF stadium opener and joining @FoxNews as a contributor. What are your wins this week? Share them below.