Empire Quadrillions: Unlocking Quadrillions | Don Wilson & Yuval Rooz
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Nov 5, 2025 Don Wilson, founder of DRW and a key player in bridging traditional finance with crypto, joins Yuval Rooz, co-founder of Digital Asset, to discuss the transformative power of on-chain markets. They delve into how traditional finance can enhance crypto adoption and the necessity of on-chain privacy for institutional needs. The duo highlights the urgent need for efficient tokenization of assets and the strategic importance of building the Canton Network to support real-world assets, ultimately predicting a quadrillion-dollar future for digital markets.
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Founding DRW From The Trading Pit
- Don Wilson started DRW in 1992 trading Eurodollar options and wrote his own risk software at night.
- That early coding edge let DRW expand into a 2,000-person markets innovation firm and later crypto through Cumberland and Digital Asset.
Cumberland And The Birth Of Digital Asset
- DRW employees began debating Bitcoin in 2012 and the firm launched Cumberland in 2014 to provide crypto liquidity.
- Yuval and others left DRW to form Digital Asset to build blockchain infrastructure for traditional finance.
Capital Efficiency Was The Core Thesis
- Early Digital Asset thesis: crypto lacked capital efficiency and prime-brokerage-like infrastructure.
- Canton was conceived to make on-chain markets as capital efficient as TradFi.