Uniswap (UNI)

. @DTAPCAP reveals why his fund refuses to buy tokens, even the ones crypto natives swear have "so much more upside"

"We do equity only. Most people in this more crypto-native crowd would say, why would you not buy these tokens, they have so much more upside, he's boring. And what happened? All those shitcoins went to zero. We had six realizations last year, which proves the thesis"

"It's not that we're against tokens. There are growth-stage protocols, real businesses producing real revenue where there's only a token, not equity. Hype is real, hype is fantastic. But there's still confusion about where revenue accrues, you saw that with Uniswap, the back and forth on governance"

"I'm from the old macro hedge fund business for 20 years. We model all of our investments for a 5 to 8x return over a ten year life. If I buy a token looking out ten years, do I have certainty that the revenue I expect will accrue to the value of that token?"

Podcast out this Thursday!

@50TFunds

@CryptoHayes joins @jennsanasie on Markets Outlook to respond to the HYPE selloff drama, break down the new Fed chair's first move, and share his outlook on Uniswap, Solana, and the AI bubble.

00:00 - Arthur Hayes Joins Markets Outlook
01:30 - Arthur’s Reaction to Michael Saylor News and Strategy Business Model
02:59 - When Does the AI Bubble Burst?
03:56 - New Fed Chair Warsh's Task Forces & What It Really Means
06:58 - Uniswap & Standard Chartered's $100 Price Target
08:06 - Responding to the HYPE Selloff Drama
09:24 - HYPE vs. SOL: Which Wins?

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