Kedar Kshatriya

Back to work, but Miami was a blast. Thanks to all the friends, colleagues, cohosts and founders who made Consensus 2026 a special week for everyone. Onward!

GSR is pleased to announce a strategic investment from SC Ventures, Standard Chartered’s fintech arm (@scventuresdna). This marks our first external strategic shareholder since our founding in 2013.

Today we’re launching BESO, the GSR Crypto Core3 ETF. $BESO is live on Nasdaq as the premiere U.S. ETF offering exposure to Bitcoin, Ethereum, and Solana with staking yields and a dynamic allocation strategy.

Look guys, it's actually really straightforward, a bunch of people staked their ETH on the Ethereum blockchain to earn yield, except they didn't want their capital to be locked up, so they actually staked with a liquid staking protocol called Lido who provided them a liquid staking receipt token called stETH, except they decided to juice their yield further by depositing their stETH receipt tokens into a restaking protocol called Eigenlayer, except they didn't want to lock up their capital, so they actually restaked with a liquid restaking protocol called KelpDAO who provided them with a liquid restaking receipt token called rsETH, except they decided to juice their yield further by depositing their rsETH tokens into a lending protocol called Aave so that they could open a leveraged looping position that borrows ETH against the rsETH collateral and restakes the ETH into rsETH which is then deposited as collateral, except it turns out rsETH used a cross-chain bridge called LayerZero that was hacked by north koreans causing rsETH to become undercollateralized and now these looping positions are stuck and unprofitable, and everyone is pointing fingers at each other, and also DeFi is a very serious industry

Today is 4.02 day. Less than a year ago (May 6, 2025), we published the x402 whitepaper. Since then, the protocol has: • Processed 166M+ transactions • Unlocked new monetization models for API, data, and other providers on the web. • Enabled autonomous flows that were difficult to support with traditional account infrastructure Today, we’re taking the next step. x402 is moving to @linuxfoundation, and we are launching x402 Foundation - with broad, cross-industry collaboration & input to steward an open, neutral standard for payments over HTTP. A big thank you to our amazing founding partners in this effort: @Adyen, @Awscloud , @AmericanExpress, @Ampersend_ai, @Circle, @Cloudflare, @Coinbase, @Fiserv, @Google, @KakaoPayCorp, @Mastercard, @merit_systems, @Microsoft, @Polygon, @PPRO_Payments, @Shopify, @SierraPlatform, @Solana , @Stripe, @Thirdweb, and @Visa. Enrollment for the foundation is open if you - or your company - is interested in participating, please reach out!

@lokpray @RobinhoodApp Congrats! 🫡

q update: have joined @RobinhoodApp chain team^^

Kalshi just cleared a major hurdle with approval to offer margin trading. Users, especially hedge funds and institutional players, will be able to take leveraged positions on event outcomes, pushing prediction markets closer to traditional derivatives trading. CEO Tarek Mansour says margin is coming soon.

Today we’re announcing the $57M acquisitions of Autonomous and Architech. Advisory, liquidity, and capital markets infrastructure are disconnected services that operate in silos. Through our acquisition of Autonomous and Architech, we're changing that. gsr.io/insights/gsr-a…

Follow more of the GSR team: @xkedar @xinsong86 @Jakob_GSR @JoshR_GSR @Quynh__Ho @Slater_Santer @andyisnotandy @Carlos_Guzman @smachadolopes

Hyperliquid!

Privacy is becoming table stakes for wallets. Welcome to the right side of history, @Solflare 🧙‍♂️

silicon valley was a documentary damn it jian yang

Crypto markets might feel quiet. But there's a lot happening beyond your social media timeline. This week's update from our analysts covers everything from AI and crypto-native risk appetite to the effects of AI and TradFi in onchain markets. Link is in the next post.

@FarzaTV 🦄

I'm going to teach a group of people how to build their first app with AI this week using Codex. I'll do a live tutorial, then we'll all cowork + build. if you don't have an idea to work on, dw I'll help with that too. If you wanna join the call, reply with your fav emoji :-)

. @EthereumDenver this week

wow!

Some notes from The Crypto Tape interview with ICE’s @mblaugrund: - NYSE launching a regulated venue for tokenized equities - Trading stocks 24/7 against stablecoins - How ICE is providing Polymarket data to institutions What this means for crypto capital markets going forward 👇

"Tokenization is about to replace the pipes of archaic banking infrastructure. Not replace SWIFT outright, but change the plumbing that links everything together. That's the direction we're heading" CJ, APAC General Manager @GSR_io