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Lending

Lending protocols form the backbone of the decentralized money market, allowing users to lend or borrow digital assets without intermediaries. Using smart contracts, platforms like Aave and Morpho automate interest rates based on supply and demand while requiring over-collateralization for security. The 2026 lending landscape features advanced permissionless vaults and institutional-grade credit lines. This tag covers the evolution of capital efficiency, liquidations, and the integration of diverse collateral types, including LSTs and tokenized RWAs.

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Created: 2026/02/02 18:52
Updated: 2026/02/02 18:52
Careers in Metaverse: Your Guide to the Future Economy

Careers in Metaverse: Your Guide to the Future Economy

The post Careers in Metaverse: Your Guide to the Future Economy appeared on BitcoinEthereumNews.com. If you are looking for a job in the metaverse, you are not alone. The metaverse is no longer just a concept or an experiment. Over the past three years, it has grown into a thriving part of the digital economy. Today, millions of people use it daily for work, communication, learning, and entertainment. Deeply connected to Web 3.0 and the spatial web, Metaverse was earlier described as the “next version of the internet.” The platform has now become a mainstream reality, combining advanced technologies like blockchain, artificial intelligence, augmented reality (AR), virtual reality (VR), and 3D graphics into a sigle interactive world. In 2025, the metaverse is shaping industries, creating new professions, and offering income opportunities that did not exist a few years ago. Yet, it is still evolving. The people building it today will shape its future. That means there is still room for early adopters to make a big impact. Whether you are a developer, designer, marketer, educator, or entrepreneur, there are multiple entry points into the metaverse job market. But before you apply, you need to understand the skills, branding, and opportunities available in 2025. Experience and Skills Required in 2025 Working in the Metaverse is not a herculean task if you have the required skills. While some roles are technical, others are creative or strategic. The most in-demand technical skills include AR/VR development, blockchain programming, smart contract creation, and 3D game design.  Creative skills include storytelling, virtual architecture, and user experience (UX) design. In addition, marketing, community management, and event planning skills are in demand to help brands connect with audiences in the virtual space. At this juncture, a question arises over the role of education in the Metaverse. However, you don’t need a full university degree to break into the field. Online courses, specialized…

Author: BitcoinEthereumNews

2025/09/18

US Federal Reserve Cut Rate; BTC Price and ETH Price Commence Upticks

US Federal Reserve Cut Rate; BTC Price and ETH Price Commence Upticks

The post US Federal Reserve Cut Rate; BTC Price and ETH Price Commence Upticks appeared on BitcoinEthereumNews.com. The US Federal Reserve cut lending rate by 25 bps. BTC price and ETH price noted an increase in their respective values over the last 24 hours. Spot Bitcoin ETF and Spot Ether ETF are expected to correct yesterday’s outflow. The US Federal Reserve has cut lending rates, signaling that two more cuts could happen by the end of the year. Rate cuts have come amid a softening job market, rising inflation, and political pressure. BTC price and ETH price surged in the last 24 hours, hinting that earlier corrections could be reversed in the days to come. Rate cuts have also triggered anticipation for inflows into Spot BTC ETF and Spot Ether ETF. Rate Cut by the US Federal Reserve According to a report by Financial Express, the US Federal Reserve has cut lending rates by 25 bps. This is the first time in 2025 that the US Fed has slashed the rate to bring it within the range of 4.0 – 4.25%. Jerome Powell, Federal Reserve Chair, has hinted that two more cuts of 25 bps are on the table by year-end. Rate cut by the US Federal Reserve has come due to softening of the job market, which has pointed out a rise in unemployment. Also, the US inflation reached 2.92% as of August 31, 2025, up from 2.70% as of July 31, 2025. Reportedly, the US Federal Reserve decided to cut the lending rate after the political pressure strengthened from the Trump Administration. Upticks in BTC Price and ETH Price The impact of rate cut is seen on BTC price and ETH price, with both increasing over the last 24 hours. BTC price is $117,426.34, slightly up by 0.89%. It further reflects a rise of 2.88% in the last 7 days, with a significant surge of…

Author: BitcoinEthereumNews

2025/09/18

2 Cryptocurrencies Under $0.50 That Could Reach $2.50 This Cycle

2 Cryptocurrencies Under $0.50 That Could Reach $2.50 This Cycle

In a market where most sub-$1 coins are speculation-driven, there are certain projects which are beginning to break through by offering real-world utility and long-term value for growth. Dogecoin (DOGE) and Mutuum Finance (MUTM) currently trading in the sub-$0.50 zone, have recently gained attention for their potential to hit as high as $2.50 in the […]

Author: Cryptopolitan

2025/09/18

DBS Partners With Franklin Templeton and Ripple for Tokenized Lending Platform

DBS Partners With Franklin Templeton and Ripple for Tokenized Lending Platform

TLDR DBS Digital Exchange, Franklin Templeton, and Ripple signed a memorandum of understanding to launch tokenized trading and lending services on the XRP Ledger DBS will list Franklin Templeton’s sgBENJI token alongside Ripple’s RLUSD stablecoin, allowing real-time swaps for institutional investors The partnership enables portfolio rebalancing and yield generation during volatile market conditions through tokenized [...] The post DBS Partners With Franklin Templeton and Ripple for Tokenized Lending Platform appeared first on CoinCentral.

Author: Coincentral

2025/09/18

Bitwise CEO: In the next 6 to 12 months, the focus of the crypto field will be on the credit and lending market

Bitwise CEO: In the next 6 to 12 months, the focus of the crypto field will be on the credit and lending market

PANews reported on September 18 that Bitwise CEO Hunter Horsley tweeted that over the next six to 12 months, the focus of the cryptocurrency sector will shift to credit and lending. This sector is expected to experience explosive growth in the next few years. He pointed out that the current cryptocurrency market capitalization is approaching $4 trillion and continues to grow. When people can borrow against cryptocurrency, they will choose to borrow rather than sell. Furthermore, the market capitalization of publicly traded stocks in the United States exceeds $60 trillion. With the tokenization of assets, individuals holding $7,000 worth of stocks will be able to borrow against them on-chain for the first time. Horsley believes that cryptocurrency is redefining capital markets, and this is just the beginning.

Author: PANews

2025/09/18

PEPE or MAGACOIN FINANCE: Who Will Deliver Bigger Gains in 2025?

PEPE or MAGACOIN FINANCE: Who Will Deliver Bigger Gains in 2025?

Analysts weigh PEPE’s meme dominance against MAGACOIN FINANCE’s presale momentum to see which could deliver bigger 2025 gains.

Author: Blockchainreporter

2025/09/18

Where Is Bitcoin Headed Next Following Fed Chair Powell’s Remarks?

Where Is Bitcoin Headed Next Following Fed Chair Powell’s Remarks?

The post Where Is Bitcoin Headed Next Following Fed Chair Powell’s Remarks? appeared on BitcoinEthereumNews.com. In brief Analysts were upbeat that the Fed would cut interest rates again and help bolster risk assets. In his post decision comments, Jerome Powell noted the bank’s concerns about a sagging job market and continued inflationary pressure. Bitcoin was trading at about $116,200, down slightly over the past 24 hours. Neither the U.S. central bank’s decision to drop the interest rate nor Federal Reserve Chair Jerome Powell’s measured comments following the announcement stirred Bitcoin much on Wednesday. But analysts whom Decrypt spoke to are largely upbeat that the asset’s price would gain ground throughout the remainder of the year.  Powell’s emphasis on a sagging employment market and wider concerns will likely result in additional rate cuts, sending Bitcoin and other cryptocurrencies higher, they said. They also noted other factors, including the growth of crypto treasuries, as a boon. “Powell framed today’s move as a ‘risk-management cut’ and noted there was no big push for a 50 bps move, even as the statement flagged slowing job gains and still-elevated inflation,” Ira Auerbach, former head of digital assets at Nasdaq and current head of tandem at Offchain Labs, told Decrypt. “The FOMC’s statement and projections sketch a data-dependent path to more cuts in the near future. Easier financial conditions ahead should be supportive of the crypto ecosystem.” Earlier Wednesday, the Fed lowered the federal funds rate that it sets for overnight lending between commercial banks to a range between 4.25% and 4.50%. This year’s first cut came after leaving rates unchanged throughout five monetary policy meetings and after months of intense pressure from U.S. President Donald Trump, who has been sensitive to being saddled with a sagging economy.   But declining employment numbers, including a more than 900,000 downward adjustment in the number of jobs created over a year-long period ending…

Author: BitcoinEthereumNews

2025/09/18

DBS, Franklin Templeton, Ripple Partner to Launch Tokenized Trading, Lending on XRP Ledger

DBS, Franklin Templeton, Ripple Partner to Launch Tokenized Trading, Lending on XRP Ledger

Singapore’s DBS Bank has signed an MOU with Franklin Templeton and Ripple to list tokenized money market fund on DBS Digital Exchange. Announced on Thursday, the partnership will offer accredited and institutional investors with trading and lending solutions. The services will leverage tokenised money market funds on the XRP Ledger blockchain and Ripple’s RLUSD stablecoin. Further, DBS said that it will list Franklin Templeton’s sgBENJI token and RLUSD on its exchange. The listing will “enable clients to manage their digital asset portfolios more nimbly in response to rapidly changing market conditions.” This means that eligible investors can swap between sgBENJI and Ripple’s RLUSD to earn yield, even during high volatility. According to DBS, the setup could boost efficiency and liquidity in Singapore and global markets. Lim Wee Kian, CEO of DBS Digital Exchange, said that the solution can meet the unique demands of a borderless 24/7 asset class. “This partnership demonstrates how tokenised securities can play that role while injecting greater efficiency and liquidity in global financial markets.” DBS to Help Clients Unlock Liquidity Further, DBS is planning to explore enabling sgBENJI tokens to be used as collateral to obtain credit from bank-run repo transactions or third-party platforms, where DBS would act as the agent holding the collateral. The move gives clients access to wider liquidity pools, enabling them to leverage their digital assets to obtain credit. “2025 has been marked by a series of industry-firsts when it comes to traditional financial institutions moving onchain – and the linkup between Ripple, DBS and Franklin Templeton to enable repo trades for a tokenised money market fund with a regulated, stable and liquid mode of exchange such as RLUSD is truly a game-changer,” said Nigel Khakoo, VP and Global Head of Trading and Markets at Ripple. Regulated Tokenized Assets Finally Get Institutional Runway in Asia Major funds in the APAC region are looking for frictionless digital on-ramps. When it comes to compliance, Singapore has one of the strictest—but clearest—crypto regulatory regimes. The MOU ensures adherence to AML/KYC and investor protection rules, setting a best-practice example. Singapore’s largest lender, DBS, already offers tokenized structured notes on the Ethereum public blockchain to eligible investors of digital platforms, including ADDX, DigiFT and HydraX. The city-state has been deepening its role as a hub for tokenized finance. Besides, Monetary Authority of Singapore (MAS), has been advancing industry trials under Project Guardian. It has been exploring how asset tokenization can be integrated with existing market infrastructure

Author: CryptoNews

2025/09/18

Crucial Fed Rate Cut: Powell’s Bold Risk Management Move Explained

Crucial Fed Rate Cut: Powell’s Bold Risk Management Move Explained

BitcoinWorld Crucial Fed Rate Cut: Powell’s Bold Risk Management Move Explained In a significant development for global financial markets, Federal Reserve Chair Jerome Powell recently described the latest Fed rate cut as a critical risk management measure. This statement immediately captured the attention of investors, economists, and especially those in the dynamic cryptocurrency space. Understanding Powell’s rationale and the potential implications of this move is essential for navigating today’s complex economic landscape. What Exactly is a Fed Rate Cut and Why Does it Matter? A Fed rate cut refers to the Federal Reserve lowering the target range for the federal funds rate. This is the interest rate at which commercial banks borrow and lend their excess reserves to each other overnight. When the Fed lowers this rate, it typically makes borrowing cheaper across the entire economy. This decision impacts everything from mortgage rates to business loans. The Fed uses interest rates as a primary tool to influence economic activity, aiming to achieve maximum employment and stable prices. A lower rate often stimulates spending and investment, but it can also signal concerns about economic slowdown. Key reasons for a rate cut often include: Slowing economic growth or recession fears. Low inflation or deflationary pressures. Global economic instability impacting domestic markets. A desire to provide more liquidity to the financial system. Powell’s emphasis on ‘risk management’ suggests a proactive approach. The Fed is not just reacting to current data but also anticipating potential future challenges. They are essentially trying to prevent a worse economic outcome by adjusting policy now. How Does a Fed Rate Cut Influence the Broader Economy? When the Federal Reserve implements a Fed rate cut, it sends ripples throughout the financial world. For traditional markets, lower interest rates generally mean: Boost for Stocks: Companies can borrow more cheaply, potentially increasing profits and stock valuations. Investors might also move money from lower-yielding bonds into equities. Cheaper Borrowing: Consumers and businesses enjoy lower rates on loans, from mortgages to credit cards, encouraging spending and investment. Weaker Dollar: Lower rates can make a country’s currency less attractive to foreign investors, potentially leading to a weaker dollar. Bond Market Shifts: Existing bonds with higher yields become more attractive, while newly issued bonds will have lower yields. This shift in monetary policy aims to inject confidence and liquidity into the system, countering potential economic headwinds. However, there’s always a delicate balance to strike, as too much stimulus can lead to inflationary pressures down the line. What Does This Fed Rate Cut Mean for Cryptocurrency Investors? The impact of a Fed rate cut on the cryptocurrency market is often a topic of intense discussion. While crypto assets operate independently of central banks, they are not immune to broader macroeconomic forces. Here’s how a rate cut can play out: Increased Risk Appetite: With traditional savings and bond yields potentially lower, investors might seek higher returns in riskier assets, including cryptocurrencies like Bitcoin and Ethereum. Inflation Hedge Narrative: Some view cryptocurrencies, particularly Bitcoin, as a hedge against inflation and traditional currency debasement. If a rate cut leads to concerns about inflation, this narrative could gain traction. Liquidity Influx: A more accommodative monetary policy can increase overall liquidity in the financial system, some of which may flow into digital assets. Dollar Weakness: A weaker dollar, a potential consequence of rate cuts, can sometimes make dollar-denominated assets like crypto more appealing to international investors. However, it’s crucial to remember that the crypto market also has its unique drivers, including technological developments, regulatory news, and market sentiment. While a Fed rate cut can provide a tailwind, it’s not the sole determinant of crypto performance. Navigating the New Landscape: Actionable Insights for Crypto Investors Given the Federal Reserve’s stance on risk management through a Fed rate cut, what steps can crypto investors consider? Stay Informed: Keep a close watch on further Fed announcements and economic data. Understanding the broader macroeconomic picture is vital. Diversify Your Portfolio: While a rate cut might favor risk assets, a balanced portfolio that includes a mix of traditional and digital assets can help mitigate volatility. Long-Term Perspective: Focus on the fundamental value and long-term potential of your chosen cryptocurrencies rather than short-term fluctuations driven by macro news. Assess Risk Tolerance: Re-evaluate your personal risk tolerance in light of potential market shifts. Lower rates can encourage speculation, but prudence remains key. Powell’s description of the Fed rate cut as a risk management measure highlights the central bank’s commitment to maintaining economic stability. For cryptocurrency enthusiasts, this move underscores the increasing interconnectedness of traditional finance and the digital asset world. While a rate cut can create opportunities, a thoughtful and informed approach is always the best strategy. Frequently Asked Questions (FAQs) What exactly is a Fed rate cut? A Fed rate cut is when the Federal Reserve lowers its target for the federal funds rate, which is the benchmark interest rate banks charge each other for overnight lending. This action makes borrowing cheaper across the economy, aiming to stimulate economic activity. Why did Powell emphasize “risk management” for this Fed rate cut? Jerome Powell emphasized “risk management” to indicate that the Fed was proactively addressing potential economic slowdowns or other future challenges. It suggests a preventative measure to safeguard against adverse economic conditions rather than merely reacting to existing problems. How does a Fed rate cut typically affect the crypto market? A Fed rate cut can make traditional investments less attractive due to lower yields, potentially driving investors towards higher-risk, higher-reward assets like cryptocurrencies. It can also increase overall market liquidity and strengthen the narrative of crypto as an inflation hedge. Should crypto investors change their strategy after a rate cut? While a rate cut can influence market dynamics, crypto investors should primarily focus on their long-term strategy, fundamental research, and risk tolerance. It’s wise to stay informed about macroeconomic trends but avoid making impulsive decisions based solely on a single policy change. What are the potential downsides of a Fed rate cut? Potential downsides include increased inflationary pressures if the economy overheats, a weaker national currency, and the possibility of creating asset bubbles as investors chase higher returns in riskier markets. It can also signal underlying concerns about economic health. Did you find this article insightful? Share your thoughts and help others understand the implications of the Fed’s latest move! Follow us on social media for more real-time updates and expert analysis. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin’s price action. This post Crucial Fed Rate Cut: Powell’s Bold Risk Management Move Explained first appeared on BitcoinWorld.

Author: Coinstats

2025/09/18

Former BlackRock Executive Joseph Chalom: How will Ethereum reshape the global financial system?

Former BlackRock Executive Joseph Chalom: How will Ethereum reshape the global financial system?

Ex-BlackRock Exec: Why Ethereum Will Reshape Global Finance | Joseph Chalom Guest: Joseph Chalom, Co-CEO of SharpLink and former BlackRock executive Moderator: Chris Perkins, CEO of CoinFund Podcast Date: September 10 Compiled and edited by LenaXin Editor's Summary This article is compiled from the Wealthion podcast, where we invite SharpLink co-founder and former BlackRock executive Joseph Chalom and CoinFund President Chris Perkins to discuss how the tokenization of real-world assets, rigorous risk management, and large-scale intergenerational wealth transfer can put trillions of dollars on the Ethereum track. Why Ethereum could become one of the most strategic assets of the next decade? Why DATs offer a smarter, higher-yielding, and more transparent way to invest in Ethereum ChainCatcher did the collating and compilation. Summary of highlights My focus has always been on building a bridge between traditional finance and digital assets, and upholding my principles while raising industry standards. Holding ETH indirectly through holding public shares listed on Nasdaq has its unique advantages. It is necessary to avoid raising funds when there is actual dilution of shareholder equity. You should wait until the multiple recovers before raising funds, purchasing ETH and staking. The biggest risk today is no longer regulation, but how we behave and the kinds of risks we are willing to take in pursuit of returns. A small, focused team can achieve significant results by doing just a few key things. If you can earn ETH through business operations, it will form a powerful growth flywheel. I hope that in a year and a half, we can establish one or two companies that support the closed loop of transactions in the Ethereum ecosystem and generate revenue denominated in ETH, thus forming a virtuous circle. The current global financial system is highly fragmented: assets such as stocks and bonds are limited to trading in specific locations, lack interoperability, and each transaction usually requires transfer through fiat currency. (I) From BlackRock to Blockchain: Joseph’s Financial Journey Chris Perkins: Could you tell us about your background? Joseph Chalom: I've only been CEO of SharpLink for five weeks, but my story goes far beyond that. Before coming here, I spent a full twenty years at BlackRock. For the first decade or so, I was deeply involved in the expansion of BlackRock's Aladdin fintech platform. This experience taught me how to drive business growth and identify pain points within the business ecosystem. My last five years at BlackRock have been particularly memorable: I led a vibrant and elite team to explore the new field of digital assets. I was born into an immigrant family and grew up in Washington, D.C. I came to New York 31 years ago, and the energy of this city still drives me forward. Chris Perkins: You surprised everyone by coming back after retirement. Joseph Chalom: I didn't jump directly from BlackRock to Sharplink. I officially retired with a generous compensation package. I was planning to relax and unwind, but then I got a surprise call. My life seems to have always intersected with Joe Rubin's. We talk about mission legacy, and it sounds cliché, but who isn’t striving to leave a mark? My focus has always been on building a bridge between traditional finance and digital assets, upholding my principles while raising industry standards. When I learned that a digital asset vault project needed a leader, I was initially cautious. But the expertise of ConsenSys, Joe’s board involvement, and the project’s potential to help Sharplink stand out ultimately convinced me, and so my short retirement came to an end. Ideally, everyone would have had a few months to reflect on the situation. However, the market was undergoing a critical turning point at the time. It wasn't a battle between Bitcoin and Ethereum, but rather Ethereum was entering its own era and should not be assigned the same risk attributes as Bitcoin. Frankly, I oppose irrational market bias. All assets have value in a portfolio. My decision to re-enter the market stems from my unwavering belief in Ethereum's long-term opportunities. 2. Why Ethereum is a core bet Chris Perkins: Can you talk about how you understand DATS and the promise of Ethereum? Joseph Chalom: If we believe that the financial services industry is going to go through a structural reshaping that will last for a decade or even decades, and you are not looking for short-term trading or speculation but long-term investment opportunities, then the key question is where can you have the greatest impact? There are many ways to hold ETH. Many choose to hold it in spot form, or store it in a self-custodial wallet or custodian institution. Some institutions also prefer ETF products. Of course, each method has certain limitations and risks . Indirectly holding ETH through holding public shares listed on Nasdaq has its unique advantages. Furthermore, by wrapping your equity in a publicly traded company, you not only capture the growth of ETH itself—its price has risen significantly over the past few months—but also earn staking returns. Holding shares in publicly traded companies often carries the potential for multiple increases in value. If you believe in the company's growth potential, this approach can yield significantly higher returns over the long term than simply holding ETH. Therefore, the logical order is very clear. First, you must be convinced that Ethereum contains long-term opportunities; secondly, you can choose what tools to use to hold it. (3) Promoting the growth of net assets per share: What is the driving force of the model? Chris Perkins: In driving MNAV growth, how do you balance financial operations, timely share issuance to increase earnings per share, with truly improving fundamentals and potential returns? Joseph Chalom: I think there are two complementary elements. The first is how to raise funds in a value-added manner . Most fund management companies currently raise funds mainly through issuing stocks. Issuing equity when the share price is higher than the underlying asset's net asset value (NAV) is a method of raising capital using a NAV multiple. At this point, the enterprise's value exceeds the actual value of the ETH held. Financing methods include a market offering, a registered direct offering, or starting with a pipeline. The key is that the financing must achieve value-added , otherwise early investors and shareholders will think that you are diluting their interests simply by increasing your holdings of ETH. If financing is efficient, the cost of acquiring ETH is reasonable, and staking yields returns, the value of each ETH share will increase over time. As long as financing can increase the value of each ETH share, it is an added value for shareholders. Of course, the net asset value (NAV) or main net asset value (MNAV) multiple can be high or fall below 1, which is largely affected by market sentiment and will eventually revert to the mean in the long run. Therefore, it is necessary to avoid raising funds when there is actual dilution of shareholder equity. One should wait until the multiple recovers before conducting financing, purchasing ETH, and staking operations. Chris Perkins: So essentially you're monitoring the average net asset value (MNAV). If the MNAV is less than 1, in many cases, that's a buying opportunity. Joseph Chalom: ETH attracts the following types of investors: 1. Retail investors and long-term holders who believe in the long-term capital appreciation potential of Ethereum. Even without considering staking returns, they actively hold Ethereum through public financial companies like us to seek asset appreciation and passive income. 2. Some investors prefer Ethereum's current high volatility, especially given the increasing institutionalization of Bitcoin and the relatively increased volatility of Ethereum. 3. Investors who are willing to participate in Gamma trading through an equity-linked structure to earn returns on their lending capital. A key reason I joined Sharplink was not only to establish a shared understanding as a strategic partner, but also to attract top institutional talent and conduct business in a risk-adjusted manner. The biggest risk today is no longer regulation, but how we behave and the types of risks we are willing to take in pursuit of returns. (IV) Talent and Risk: The Core Secret to Building an Excellent Team Chris Perkins: How do you find and attract multi-talented individuals who are proficient in both DeFi and traditional finance (e.g., Wall Street)? How do you address security risks like hacker attacks and smart contract vulnerabilities? Joseph Chalom: Talent is actually relatively easy to find. I previously led the digital assets team at BlackRock. We started with a single core member and gradually built a lean team of five strategists and seven engineers. Leveraging BlackRock's brand and reputation, we raised over $100 billion in a year and a half. This demonstrates that a small, focused team, focused on a few key areas, can achieve significant results. We recruit only the brightest and most mission-driven individuals, adhering to a single principle: we reject arrogance and negativity. We seek individuals who truly share our vision for long-term change. These individuals aren't simply optimistic about ETH price increases or pursuing short-term capital management, but rather believe in the profound and lasting structural transformation of the industry and are committed to participating in it. Excellent talents often come from recommendations from trusted people, not headhunters. The risks are more complex. Excessive pursuit of extremely high returns, anxious pursuit of every possible basis point of gain, or measuring progress over an overly short timeframe can easily lead to mistakes. We view ourselves as a long-term opportunity, and therefore should accumulate assets steadily. Risk primarily stems from our operational approach : for every $1 raised, we purchase $1 worth of ETH, ultimately building a portfolio of billions of ETH. This portfolio requires systematic management, encompassing a variety of methods, from the most basic and secure custodial staking to liquidity staking, re-staking, revolving strategies, and even over-the-counter lending. Each approach introduces potential risk and leverage. Risk itself can bring rewards. However, if you don't understand the risks you are taking, you shouldn't enter this field. You must clearly identify smart contract risk, protocol risk, counterparty risk, term risk, and even the convexity characteristics of the transaction, and use this to establish an effective risk-reward boundary . Our goal is to build an ideal investment portfolio, not to pursue high daily returns , but to consistently win the game. This means creating genuine value for investors. Those who blindly pursue returns or lack a clear understanding of their own operations may actually create resistance for the entire industry. Chris Perkins: Is risk management key to long-term success? Do you plan to drive business success through a lean team and low operating cost model? Joseph Chalom: Looking back on my time at BlackRock, one thing stands out: the more successful a product is, the more humble it requires . Success is never the product of a few individuals. Our team is merely the tip of the spear in the overall system, backed by a strong brand reputation, distribution channels, and a large, trusted trustee. One of the great appeals of the digital asset business is its high scalability. While you'll need specialized teams like compliance and accounting to meet the requirements of a public company, the team actually responsible for fundraising can be very lean. Whether you're managing $3.5 billion or $35 billion in ETH, scale itself isn't crucial. If you build an efficient portfolio that can handle $1 billion in assets, it should be able to scale even further. The core issue is that when the scale becomes extremely large, on the one hand, caution must be exercised to avoid interfering with or questioning the security and stability of the protocol; on the other hand, it must be ensured that the pledged assets can still maintain sufficient liquidity under adverse circumstances. Chris Perkins: In asset management, how do you understand and implement the first principle that "treasures don't exist to lose money"? Joseph Chalom: At BlackRock, they used to say that if 65% to 70% of the assets you manage are pensions and retirement funds, you can't afford to lose anything. Because if we make a mistake, many people will not be able to retire with dignity. This is not only a responsibility, but also a heavy mission. (V) How SharpLink Gains an Advantage in Competition Chris Perkins: In the long term, how do you plan to position yourself to deal with competition from multiple fronts, including ETH and other tokens? Joseph Chalom: We can learn from Michael Saylor's strategy, but the fund management approach for ETH is completely different because it has higher yield potential . I view competitors as worthy of support. We have great respect for teams like BM&R. Many participants from traditional institutions recognize this as a long-term opportunity. There are two main ways to participate: directly holding ETH or generating income through ecosystem applications. We welcome this competition; the more participants, the more prosperous the industry. Ultimately, this space may be dominated by a small number of institutions actively accumulating ETH. We differentiate ourselves primarily through three key areas: First, we are the most trusted team among institutions . Despite our small size, we bring together top experts to manage assets with professionalism and rigor. Second, our partnership with ConsenSys . Their expertise provides us with a unique strategic advantage. Third, operating the business . In addition to accumulating and increasing the value of assets, we also operate a company focused on affiliate marketing in the gaming industry to ensure compliance with SEC and Nasdaq regulatory requirements. In the future, earning ETH through operational operations will create a powerful growth flywheel . Staking income, compounding debt interest, and ETH-denominated income will collectively accelerate the expansion of fund reserves. This approach may not be suitable for all ETH fund managers. (VI) Strategic Layout: Mergers and Acquisitions and Global Expansion Plans Chris Perkins: What is your overall view and direction on future M&A strategy? Joseph Chalom: If the amount of ETH debt grows significantly and some of this debt is illiquid, this could present opportunities. Currently, listed companies in this sector primarily raise capital through daily market programs. If the stock is liquid, this channel can be effectively utilized. However, some companies struggling to raise capital may trade at a discount to net assets or seek mergers, which could be an innovative way to acquire more ETH. As the industry matures, yields could gradually increase from 0.5%-1% of ETH supply to 1.5%-2.5%. It might be wise to issue sister bonds with similar structures in different regions, such as Asia or Europe, with identical issuance conditions and shared core operating costs and infrastructure, thereby reaching a wider range of investors. We expect to engage in such creative mergers and acquisitions in the future, but the specific timing is still uncertain. I believe that the industry will first undergo an initial phase of differentiation before entering a period of consolidation . Technological development and business evolution often follow this pattern. Similar consolidation and M&A trends are likely to occur in the stablecoin sector, which will be worth watching. Chris Perkins: Why is transparency so important ? What is the main motivation for disclosing operational details on a daily basis? Joseph Chalom: Most companies don't issue shares frequently, typically only once every few years. SEC regulations require companies to disclose the number of shares outstanding only in their quarterly reports. In our industry, fundraising may occur daily, weekly, or at other frequencies. Therefore, to fully reflect operational status, a series of key metrics must be publicly disclosed . These include: the amount of ETH held, total funds raised, weekly ETH increase, whether ETH is actually held or only held in derivatives, collateralization ratio, and returns. We publish press releases and AK documents every Tuesday morning to update investors on this data. Although some indicators may not be favorable in the short term, transparent operations will enhance investor trust and retention in the long term. Investors have the right to clearly understand the products they are purchasing, and concealing information will make it difficult to gain a foothold. (VII) SharpLink's growth plan for the next 12 to 18 months Chris Perkins: What are your plans or visions for the company's development in the next one to one and a half years? Joseph Chalom: Our first priority is to build a world-class team, but this won't happen overnight. We've continued to recruit key talent and have assembled a lean team of fewer than 20 people, each of whom excels in their field and works collaboratively to drive growth. Second, continue to raise funds in a manner that does not dilute shareholder equity , and flexibly adjust fundraising efforts according to market rhythms. The long-term goal is to continuously increase the concentration of ETH per share. Third, actively accumulate ETH. If you firmly believe in the potential of Ethereum, you should seize the opportunity to increase your holdings efficiently at the lowest cost - even for funds that only allocate 5% to ETH. Fourth, we must deeply integrate into the ecosystem . As an Ethereum company or treasury, we would be remiss if we didn't leverage our ETH holdings to create value for the ecosystem. We can leverage billions of ETH to support protocol development through lending, providing liquidity, and other means, advancing the protocol in a way that benefits the ecosystem. Finally, I hope that in a year and a half, we can establish one or two companies that support the closed loop of transactions in the Ethereum ecosystem and generate ETH-denominated revenue, thus forming a virtuous circle. (8) Core investment insights: Key areas for future attention Chris Perkins: What additional advice or information would you like to add to potential investors who are considering including SBET in their investment plans? Joseph Chalom: The current traditional financial system suffers from significant friction, with inefficient capital flows and delayed transaction settlements, sometimes requiring T+1 settlements at the fastest. This creates significant settlement, counterparty, and collateral management risks. This transformation will begin with stablecoins. Currently, the market for stablecoins has reached $275 billion, primarily running on Ethereum . However, the real potential lies in tokenized assets. As Minister Besant stated, stablecoins are expected to grow from their current levels to $2-3 trillion over the next few years. Tokenized assets such as funds, stocks, bonds, real estate, and private equity could reach trillions of dollars and run on decentralized platforms like Ethereum. Some are drawn to its potential for returns, while many more are optimistic about its future. Ether isn't just a commodity; it can generate returns. With trillions of dollars in stablecoins pouring into the Ethereum ecosystem, Ether has undoubtedly become a strategic asset. Building a strategic reserve of Ether is essential because you need a certain supply to ensure the flow of dollars and assets within the system. I can't think of an asset with more strategic significance. More importantly, the issuance of on-chain securities like those by Superstate and Galaxy marks one of the biggest unlockings in blockchain technology. Real-world assets are no longer locked in escrow boxes, but are now directly integrated into the ecosystem through tokenization. This is a turning point that has yet to be widely recognized, but will profoundly change the financial landscape. Chris Perkins: The pace of development is far exceeding expectations. Regulated assets are only just beginning to be implemented; as more of these assets continue to emerge, a whole new ecosystem is forming that will greatly accelerate the development and integration of assets on Ethereum and other blockchains. Joseph Chalom: When discussing the need for tokenization, people often cite features such as programmability, borderlessness, instant or atomic settlement, neutrality, and trustworthiness. However, a deeper reason lies in the current highly fragmented global financial system: assets like stocks and bonds are restricted to trading in specific locations, lack interoperability, and each transaction typically requires fiat currency. In the future, with the realization of instant settlement and composability, smart contracts will support automated trading and asset rebalancing, almost returning to the flexible exchange of "barter." For example, why can't the S&P 500 index be traded as a Mag 7 combination? Whether through swaps, lending, or other forms, financial instruments will become highly composable, breaking the traditional concept of " trading in a specific venue . " This will not only unleash enormous economic potential but also reshape the entire financial ecosystem by reconstructing the underlying logic of value exchange. As for SBET, we plan to launch a compliant tokenized version in the near future, prioritizing Ethereum over Solana as the underlying infrastructure.

Author: PANews

2025/09/18

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