The Wolf Of All Streets $500 Billion! The Truth Behind Crypto Treasuries & Tether's Future
Sep 24, 2025
Allan and Brian, co-founders of Upexi, dive deep into the world of crypto treasuries, explaining their complex structures and how they resemble traditional banks. They discuss why Upexi employs a cautious leverage strategy and choose Solana for its growth potential and unique value mechanisms. With Tether eyeing a $500 billion valuation, they explore the implications for the market and how institutional access could reshape demand for digital assets. Their insights shed light on the future of crypto finance in a rapidly evolving landscape.
AI Snips
Chapters
Transcript
Episode notes
Read Disclosures Before Investing
- Read offering documents carefully before investing because structures can be complex and dilutive.
- Avoid deals with multiple warrants and convoluted structures that destroy individual investor value.
Treasury Companies Are Bank-Like
- Treasury companies function like banks: they raise capital and earn a spread between asset returns and cost of capital.
- The market values them by present valuing future spread income added to NAV, producing a valuation multiple above one.
Upexi's Early Clean Structure
- Alan recounts Upexi's early structuring as low-leverage and simple compared with later, more diluted deals.
- He notes frustration as later deals added warrants and complex terms that reduce investor value.