Empire Finding Alpha In Crypto, Mamdani Wins & The AI Gold Rush | Weekly Roundup
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Nov 7, 2025 Pranav Kanade, an investment pro at VanEck, delves into finding alpha in crypto and the evolving landscape of tokenization. He discusses how legislation on stablecoins could boost margins and compares traditional loyalty programs with tokenized equity using brands like Starbucks. Pranav critiques Layer-1 valuations amid current market conditions and reveals that speculative money is swinging towards AI rather than crypto. He also addresses the potential for mass adoption through established companies rather than just crypto-native apps.
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Dinner Table Snapshot Of Market Dispersion
- Jason described a 'liquid fun dinner' where attendees showed extreme dispersion in positions and emotions.
- He framed that divergence as a sign that a lot of money will be made by those with conviction.
Tokenized Equity As A Growth Lever
- Tokenized equity can become a programmable customer-acquisition and loyalty tool for B2C companies.
- Giving customers direct ownership could lower cost of capital and deepen retail engagement.
Retail Ownership Lowers Cost Of Capital
- CEOs want a retail following because it lowers cost of capital and stabilizes fundraising.
- Tokenizing ownership for users is a direct way to build that retail constituency.
