Long-game advice: avoid leverage, know your edge

In this episode of Talking Tokenization, Jacquelyn Melinek sits down with Yat Siu, Co-Founder and Chairman of Animoca Brands, to discuss why he believes altcoins will outperform bitcoin, how tokenization will reshape global markets, and why Animoca is preparing to go public through a reverse merger.

Yat explains why he thinks utility tokens are entering a new era, how regulatory clarity will unlock mass tokenization, and why memecoins emerged from regulatory arbitrage. He also breaks down Animoca’s strategy as one of the largest investors in web3, the logic behind owning liquid tokens, why gaming hasn’t yet translated to token performance, and how investor relations is forming in crypto.

The conversation also explores DAOs, consolidation of crypto IPOs, his experience on the ground with institutions in the US, Europe and Asia, and why Gen Z treats trading as entertainment. Yat closes with long-term market outlooks for 2026 and personal advice for surviving the volatility of crypto.This episode is sponsored by Securitize, the proven leader in tokenized funds, equities, and private markets. Discover more at securitize.io.

Timestamps(00:00) – Intro

(00:53) – Yat on market evolution across 620 portfolio companies

(01:40) – Institutional era of crypto and why Animoca is preparing to go public

(02:58) – Bitcoin’s macro correlation and institutional support

(03:53) – Regulatory clarity in 2026 and the coming tokenization wave

(04:33) – Utility tokens absorbing memecoin culture and why the memecoin era is ending

(07:19) – Why Animoca now buys undervalued liquid tokens over early-stage deals

(08:54) – Real revenue from small gaming projects & token utility reconnecting value

(10:22) – How funds now evaluate tokens beyond momentum trading

(13:10) – Good products ≠ good tokens: investor relations challenges

(16:01) – DAOs aren’t built to run like public companies — consolidation ahead

(18:36) – Liquidation risks, Bitcoin DAOs, and tokenized asset buyouts

(20:00) – Every major token needing a DAO or ETP for institutional access

(24:02) – Animoca’s reverse merger and improving public investor access

(27:07) – Altcoins as crypto’s growth engine and unlocking real utility

(29:03) – Crypto today = early internet: funds miss upside

(31:00) – Ethereum, Solana, and the value they don’t capture

(33:47) – Making private web3 exposure available to public investors

(37:00) – Regional institutional demand: US vs Europe vs Asia

(42:05) – Trump, volatility, and shifting capital pools in tokens and prediction markets

(45:14) – Finance as entertainment: Gen Z’s gamified investing mindset

(46:42) – 2026 outlook: political stability and institutional flows

(51:01) – Yat’s long-game advice: don’t overleverage, know your edge

Essentials

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