Unchained Bits + Bips: Every Fortune 500 Company Will Be a DAT - Ep. 945
11 snips
Nov 12, 2025 
Matt Zhang, the founder of Hivemind Capital, and Felix Jauvin, head of content at Blockworks, share insights on the evolving interplay between policy and crypto markets. They explore the implications of a $2,000 tariff dividend on inflation and discuss how rising U.S. deficits could spur demand for digital assets. The conversation delves into the potential of DATs trading below their net asset value and the Bank of England's stablecoin proposals, while also debating the comparative value of XRP and Ripple equity in a rapidly changing financial landscape.
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Shutdowns Drain Liquidity And Risk Repeating
- The government shutdown drained liquidity by halting spending while issuance continued, worsening market volatility.
- Restoring operations returns short-term liquidity but repeated shutdowns risk becoming a chronic structural problem.
Tariff Dividend Could Be Inflationary
- A $2,000 tariff dividend both raises prices through tariffs and adds stimulus when paid out, creating inflationary pressure.
- Politically popular optics may outweigh long-term fiscal discipline, adding to deficit risks.
DATs Must Deliver Real Business Value
- DATs that only hold tokens are disadvantaged by fees and setup costs, so they should offer operating businesses or unique alpha to trade above NAV.
- Successful DATs need real cash flows or on-chain operational advantages to sustain premiums.