Larry Fink Predicts $700,000 BTC

RWA TVL Surges to $7.3B | WLFI Acquires $2.6M TRX

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Marco Manoppo & Karon Pangestu
January 24, 2025

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Good Morning.

Big news from the Oval Office, Trump just signed a crypto executive order. He’s calling for protections on self-custody, fair banking access, and a ban on CBDCs. Plus, the SEC is rolling back its controversial SAB 121 guidance. Love him or hate him, this move signals a major shift in how the US handles digital assets.

In Today's Email:

  • What Matters: Larry Fink Predicts $700K BTC 🚀 

  • Founders Highlight: Konstantin of Lido 👨 

  • Deal Flow: WLFI Acquires $2.6M TRX 🤝 

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Narratives: Bitcooiiiiiin.

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WHAT MATTERS

Larry Fink Predicts Bitcoin Could Reach $700K

State of play: BlackRock CEO Larry Fink speculated that if investors allocated 2% to 5% of their portfolios to Bitcoin, its price could reach $700,000.

  • He noted that sovereign wealth funds were already considering such allocations but clarified he was not actively promoting Bitcoin.

  • While BlackRock saw little demand for digital assets in 2021, by 2023, he compared Bitcoin to "digitized gold."

  • BlackRock later launched the iShares Bitcoin Trust ETF (IBIT), now the largest spot Bitcoin ETF with nearly $57B in assets under management.

  • Fink also highlighted Bitcoin's potential as a hedge against currency debasement and economic instability, especially in volatile regions.

  • A Bitwise survey found that 22% of financial advisors allocated crypto to clients in 2024, up from 11% in 2023.

What’s next: As sovereign wealth funds and financial advisors increasingly consider Bitcoin, the market could see a shift in portfolio diversification strategies.

For builders and investors: Bitcoin’s growing acceptance as a hedge against economic instability presents long-term opportunities, especially with rising institutional participation through ETFs like BlackRock’s IBIT.

BUILDER-INVESTOR HIGHLIGHT

Konstantin Lomashuk of Lido

Intro: Konstantin Lomashuk is the co-founder of Lido, a liquid staking solution for ETH backed by industry-leading staking providers.

  • Konstantin is also the founder of cyber•Fund, =nil; Foundation, and P2P Validator.

Previous background: Prior to Lido, Konstantin was the co-founder of Satoshi Fund which is the blockchain investment fund. Konstantin holds PhD in finance from Kaliningrad State Technical University.

The big idea: Lomashuk has hinted at a "Second Foundation" for Ethereum amid leadership changes, aiming to uphold decentralization.

  • Lomashuk's objectives for the Second Foundation remain unclear, with only the phrase "hello world computer" announced. However, his recent social media activity hints at his aspirations.

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INSIGHTS

RWA TVL Surges to $7.3B

The Block

State of play: The total value locked (TVL) in real-world asset (RWA) protocols has surged to $7.3B, a 200% increase from last year, with government securities now making up two-thirds of the market.

  • Leading protocols include Usual Protocol and Hashnote USYC, each holding around $1.48B in TVL.

  • The shift toward government-backed assets signals growing confidence in regulated digital instruments and a maturing market.

  • Policy developments, including President Trump’s reported plans to prioritize crypto at the national level, could further legitimize RWA protocols.

  • The trend suggests an institutional preference for lower-risk and regulated assets.

DEAL FLOWS

WLFI Acquires $2.6M TRX

Arkham

Deal flows slowed down this week - we saw $370M in deals đź’Ľ 

World Liberty Financial (WLFI) has added $2.6M worth of Tron (TRX) to its holdings, bringing its total TRX investment to $7.5M.

  • This move follows the project's extended token sale, which initially raised $300M by selling 20B WLFI tokens at $0.015 each.

  • To attract further investment, WLFI has increased its token supply by 5B at a higher price of $0.05, targeting an additional $250M.

  • Tron founder Justin Sun, a major WLFI investor, has invested $75M in the project.

  • His involvement activates WLFI’s revenue-sharing model, allowing Trump’s DT Marks DEFI LLC to claim 75% of the project’s net revenue.

  • Despite its association with Trump and Sun, skepticism remains due to limited project details and slow token sale progress.

Deal flows in the past week:

QUICK BITES

  • Solana TVL skyrockets 600%.

  • Bitwise files Dogecoin ETF registration.

  • CZ takes active role in YZi Labs, a Binance Labs rebrand.

  • SEC rescinds controversial crypto accounting guidance SAB 121.

  • Solana-based stablecoin supply hits a new peak, surpassing $10B.

  • Trump says US will be 'world capital of artificial intelligence and crypto.'

  • Vitalik warns political tokens 'are vehicles for unlimited political bribery.'

  • Real-world asset TVL rises to $7.3B as government securities dominate.

  • JPMorgan predicts crypto VC funding in 2025 will fall short of 2021-2022.

  • President Trump tasks a working group to evaluate the creation of the national crypto reserve.

NOTEWORTHY READS

  • Coinmetrics’s read on 2025 RWA Tokenization Outlook.

  • Llama Intern’s read on Ethena: Endgame of Internet Money.

  • Crypto Gideon’s read on Creator Bid's master plan to dethrone Virtuals.

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.