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Annual Crypto Theses 2025 Audiobook | All Chapters

Messari's Unqualified Opinions

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The Rise of Real-World Asset Protocols

This chapter examines the growth of real-world asset protocols, particularly the significant increase in tokenized U.S. treasuries. It discusses market dynamics, regulatory challenges, and the emergence of points programs and yield strategies that are reshaping the landscape of both on-chain and traditional finance.

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