With deregulation, fintechs + neobanks are now the platforms best positioned to offer crypto access at scale
Exchanges know it and they’re no longer purely chasing users. They're now competing amongst each other to become the global backends that power the full suite of crypto services (trading, custody, staking, stables)
The last couple weeks we've seen:
Coinbase × Webull
Kraken × Bunq
Just the beginning, many more to follow
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1. Rates Lower but Higher
- Market is pricing in some serious cuts in ‘24 with a ~80% chance of rates ending sub 4%
- I’m on the less aggro side and say we end ‘24 north of 4% but sub 5%
- I’m betting inflation is sticky on the way down and the fed will have trouble cutting
2. Crypto Market Cap >$2T
- Trustless financial systems will only become more valuable (esp with lower rates)
- Global conflict, migrant flows, inflationary fiat, and fallible banking systems are all tailwinds
- Crypto market cap sits at $1.7t today and is headed higher