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Today's edition is brought to you by Roots - the first real estate portfolio that creates wealth for both its investors and its residents. |
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GM. This is Milk Road, your crypto Pop Rocks. Experience the explosive sensation of profitable opportunities popping up in your portfolio. |
Itβs Friday! Letβs get it: |
Crypto use case: tokenized carbon credits π TradFi CEOsβ crypto views: love or hate? βͺ Funding Friday: Web3 companies that got money this week π° CNBC had a funeral for Bitcoin 5 years ago πͺ |
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CRYPTO USE CASE OF THE WEEK π |
Thereβs one question that will make every crypto investor trembleβ¦ |
What are some real-world use cases? |
Suddenly, it feels like the final level of βWho Wants To Be A Millionaireβ. You start sweating in places youβve never sweat before. |
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Well - have no fear, the Milk Man is here. |
With the weekend coming up (AKA primetime crypto debate time), we figured itβd be a good idea to give you some ammo just in case you get asked the million-bitcoin question. |
And check it out, we just found a cool database of use cases. Itβs called The Value Prop. |
Hereβs one cool use case we came across: |
TOKENIZED CARBON CREDITS |
I wonβt lie to you, we arenβt environmentalists and had no idea what carbon credits actually were so we did a little researchβ¦ hereβs how I'd explain it to a first-grader: |
Global warming is getting bad. (Real bad, Michael Jackson). |
The good thing: There are a ton of smart people out there building solutions to try to save us. |
The bad thing: The smart people trying to save the world donβt get much funding. |
So in order to solve this, a carbon credits market was created. This is how it works: |
Every time a project successfully removes 1 ton of carbon from the atmosphere, they get 1 carbon credit. These carbon credits are then sold to individual companies. The companies buy carbon credits to reduce their carbon footprint and meet regulatory requirements. Companies try to buy 1 carbon credit for every 1 ton of C02 they create from factories, trucks, etc. (Itβs an βoffsetβ). |
But thereβs another issue: these transactions are slow and mostly done over the counter. |
Thatβs where the blockchain comes in. By tokenizing the carbon credits and putting them on a blockchain, it makes the market more transparent, liquid, and accessible. |
Big corporations get to say theyβre net-zero and the environmental projects get some funding. Itβs a win-win. Gold stars all around. |
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Here are a few companies that are doing this today: |
Nori KlimaDAO Coorest Andes |
Crypto gets a ton of hate for hurting the environment, so it's good to see a few projects all tackling environmental problems here. |
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MEMORY LANE: TRADFI CEOSβ VIEWS ON CRYPTO βͺ |
Looking back on TradFi CEOβs comments on crypto can feel like looking back at your old Facebook posts. |
Song lyrics, music quotesβ¦ Sh*tβs embarrassing. |
But itβs fun. Which is why weβre about to βFacebook stalkβ CEOs of the TradFi giants that are jumping into crypto right now. |
And look at all the crypto hate (and love!) they spouted back in the day. |
Letβs dive inβ¦ |
Larry Fink, BlackRock CEO |
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How it started: |
Said βBitcoin just shows you how much demand for money laundering there is" "Bitcoin is an index for money laundering - that's all it is." And in 2018, said none of the companyβs clients were interested in buying crypto |
How it's going: |
Said in late 2022 that tokenization is the βnext generation for marketsβ BlackRock applied for a Bitcoin ETF this week that would allow its customers to invest in Bitcoin. |
Milk Road H8er Meter: 11/10 |
Ken Griffin, Founder of Citadel |
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How it started: |
Called crypto a βJihadist call" against the dollar and that he βwished young people would use that energy to make the US dollar stronger insteadβ Said people who own crypto are "stupid" |
How it's going: |
Called crypto one of the greatest finance stories over the last 15 years His company co-launched a new crypto exchange this week (w/ Fidelity & Charles Schwab) |
Milk Road H8er Meter: 12/10 |
Walt Bettinger, CEO of Charles Schwab |
How it started: |
In 2021, said was looking βcautiouslyβ and βcloselyβ at the crypto market Was waiting for regulatory clarity. If it came, the company would βbe a player in the spaceβ & βdisruptiveβ |
How itβs going: |
Co-launched a new crypto exchange this week |
Milk Road H8er Meter: 3/10 |
Now for the one on this list thatβs actually been bullish for ~a decadeβ¦ |
Abigail Johnson, CEO of Fidelity |
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Itβs like that only friend in the group whoβs been saying aliens were real and no one believed them. Until UFOs started landing everywhere. |
She: |
Is a big digital asset advocate Has mined ~200K satoshis Oversaw a small mining operation launched within Fidelity that makes it a lot of money Led Fidelity as 1 of 3 companies that launched a new crypto exchange. Itβs also rumored to apply for a Bitcoin ETFβ¦ |
Milk Road H8er Meter: 0/10 |
Milk Road Take: Youβre not entirely defined by that Evanescence song lyric you posted on Facebook in 2012. |
Just like these execs and their companies arenβt entirely defined by the smack theyβve talked about crypto in the past. |
Once a h8er β always a h8er. |
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FUNDING FRIDAY π° |
Itβs Funding Friday! This week, ~$38M was raised by crypto companies. |
Hereβs who secured the money: |
Kaito got $5.5M to build an AI-powered search engine for crypto. There are more AI crossovers than in the NBA during the early 2000s. If you know, you know. |
TaxNodes got $1.6M to create crypto tax and accounting solutions. Crypto taxes made easy. |
TapiocaDAO got $6M to develop a multi-chain money market. Users can borrow, lend, and leverage up across 20+ different blockchains. |
Check out the full database of companies that have raised money this week, right here. |
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MILK & COOKIES πͺ |
Five years ago, CNBC said it was having a funeral for Bitcoin. BTC was $6,027 at the time - now itβs at $30K+. |
Microstrategy turned profitable yesterday with its $4B in Bitcoin. Michael Saylorβs company is in the green with BTC higher than Microstrategyβs average purchase price of $29,803. |
Pepe (memecoin) came back to life and jumped 35% in one day. Bitcoinβs rally & major accumulation is behind the rise. |
Binance is being investigated in Brazil over pyramid scheme allegations. Parliament will decide soon if Binance Brazilβs chief will testify. |
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MILKY MEMES π€£ |
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HIT THE INBOX OF 250K+ CRYPTO INVESTORS |
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What'd you think of today's edition? |
π₯π₯π₯π₯π₯ F**king greatπ₯π₯π₯ Meh, do betterπ₯ You didn't bring the heat |
ROADER REVIEW OF THE DAY |
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VITALIK PIC OF THE DAY |
| Milk Road Images @MilkRoadImages | |
| happy Friday, Roaders https://t.co/vLINRo8iES | | | Jun 23, 2023 | | | | 0 Likes 0 Retweets 0 Replies |
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. |