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We moved into physical commodities in vault — here is why gold, copper, uranium and rare earths are our highest conviction entering 2026. In January we wrote about China being unloved obvious trade of 2025.  Now, as the equity market keeps making new highs, our highest conviction position is now sitting in a vault.   […]

As of May 8 2025, the Arbitrum DAO approved a proposal to invest 35 million ARB tokens into tokenized U.S. Treasuries through partnerships with Franklin Templeton, Spiko, and WisdomTree. This strategic allocation aims to diversify the DAO’s treasury holdings, traditionally dominated by crypto-native assets, by incorporating low-risk, yield-generating instruments. This is of particular interest due

Base is one of the most used blockchains in 2025, and consistently ranks just below Solana in onchain volume and has a growing and maturing ecosystem. Some of the largest protocols across DeFi and AI verticals originated on Base, and in particular spawned VIRTUALS which grew an entire ecosystem of its own. As of May

A new report by Vestun outlines the state of the market as of April 2025. Since our last report in October 2024, the market underwent a significant drawdown and valuations fell in the most hyped sectors. However, there is still development in the AI sector, RWA and robotics that is continuing to grow despite the

China in 2025: why we believe this is the year the most unloved trade re-rates — and why DeepSeek just lit the fuse   The past week has been instructive. DeepSeek’s R1 release sent Nvidia down 17% in a single session and triggered a broad reassessment of AI infrastructure spending in the US. The narrative

Markets look ready to enter the expansion zone, TOTAL3 looks like it could be bottoming but BTC.D still has not broken down yet. Two of the best performing sectors this year are RWA and AI. End user demand and revenue for AI protocols is low. However, there is opportunity in projects that are growing in