The Cambrian Explosion of Stablecoins
In just two years, the total supply of stablecoins has grown twenty fold to more than $180B today. Stablecoins have emerged as a linchpin of the crypto ecosystem, providing stability in contrast to the volatility of most cryptocurrencies. The rise [...]
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Bitcoin As An Investment (ARK Invest + Coin Metrics)
In Part 1 of this research, we described how we believe Bitcoin, a novel economic institution, satisfies the four assurances [...]
Bitcoin: A Novel Economic Institution (ARK Invest + Coin Metrics)
This paper lays out the case for Bitcoin. In Part 1, we describe how the Information Age gave rise to [...]
Special Insights
DeFi’s Double-Edged Sword
The 2022 collapse of FTX—a centralized crypto exchange, has highlighted the promise of Decentralized Finance (DeFi) platforms due to their inherent transparency, composability, and non-custodial nature. We’ve seen individuals and institutions alike, recognizing the value of DeFi and beginning to [...]
Decoding the Digital Dollar
Stablecoins have quickly grown from a nascent segment of the digital assets ecosystem to a $100 billion+ market. Stablecoins already form the backbone of decentralized finance (DeFi) applications and the broader crypto-economy, but have the potential to be much more [...]
From Orange Groves to Orange Gold
How crypto assets are to be regulated in the United States is a contentious battleground with high stakes implications for the future of the crypto industry. However, participants in the industry contend that the current regulatory framework is ambiguous, unclear, [...]