The Evolving Landscape of Tokenized Equities and Market Competition

Gm! This week we're back with another weekly roundup where we discuss our takeaways from DAS NY, Chat GPT's breakout moment, why everyone is so bullish stablecoins, the Binance vs Hyperliquid drama & more .Enjoy!

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Start your day with crypto news, analysis and data from Katherine Ross.

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Grab your tickets to Permissionless IV. Use code EMPIRE10 for 10% off: https://blockworks.co/event/permissionless-iv

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Rethinking ownership, stablecoins, and tokenization (with Addison): https://bridgeharris.substack.com/p/rethinking-ownership-stablecoins

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SKALE is the next evolution in Layer 1 blockchains with a gas-free invisible user experience, instant finality, high speed, and robust security. SKALE is built different as it allows for limitless scalability and has already saved its 50 Million users over $11 Billion in gas fees.

SKALE is high-performance and cost-effective, making it ideal for compute-intensive applications like AI, gaming, and consumer-facing dApps. Learn more at skale.space and stay up to date with the gas-free invisible blockchain on X at @skalenetwork

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ZKsync is the pioneering zero-knowledge technology powering the next generation of builders with limitless scale. Secured by math and designed for native interoperability, ZKsync enables an elastic, ever-expanding network of customizable chains.

Deeply rooted in its mission to advance personal freedom for all, the ZKsync technology makes digital self-ownership universally available.

To learn more about ZKsync, visit http://www.zksync.io

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Ledger, the world leader in digital asset security, proudly sponsors Empire podcast. Celebrating 10 years of protecting over 20% of the world’s crypto, Ledger ensures the security of your assets. For the best self-custody solution in the space, buy a LEDGER™ device and secure your crypto today.

Buy now at www.Ledger.com

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Mantle is evolving into the premier on-chain financial hub, supercharging the ecosystem that bridges blockchain with banking. The 2025 roadmap introduces three transformative products:

- Enhanced Index Fund (launching Q1) offering optimized crypto exposure to BTC, ETH, SOL and USD with built-in yield optimization - targeting $1B AUM

- Mantle Banking for seamless financial services

- MantleX for AI-powered innovation

Backed by a $4.5B treasury, Mantle is building the future of on-chain finance – accessible for everyone.

Learn more: https://x.com/Mantle_Official/status/1882017058680086805

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WalletConnect is the onchain connectivity network . If you’ve connected to a Web3 app, you’ve seen WalletConnect. It’s everywhere—an icon of trust in crypto, as recognizable as Visa at checkout.

The numbers speak for themselves: Over 220 million connections and 35 million users worldwide use WalletConnect to power their Web3 experience. @WalletConnect on X and Telegram or visit https://WalletConnect.Network

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Timestamps:

(00:00) Introduction

(05:34) The GPT-4o Impact

(14:22) Ad (Skale & ZKSync)

(16:10) AI's Impact On Building A Business

(24:12) M&A Is Back For Crypto

(30:42) Ads (Skale & ZKSync)

(32:30) Hyperliquidated: The Hyperliquid Fallout

(39:50) Ads (Ledger, Mantle, WalletConnect)

(42:14) Why Is Everyone Launching Stablecoins?

(48:33) The STABLE Act Draft

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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.