The Rollup How Treasury Companies Will Drive Crypto's Next Bull Run with Michael Anderson
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Aug 31, 2025 
In this engaging conversation, Michael Anderson from Framework Ventures dives into the transformative role of digital asset treasury companies in institutional crypto adoption. He highlights the increasing interest in Ethereum ETFs and the potential for significant Ethereum purchases. Michael emphasizes DeFi's foundational importance and discusses the challenges ahead, including market sustainability and governance in crypto ecosystems. Expect exciting insights into how these treasury strategies could shape a new era for cryptocurrencies!
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DeFi As The Enduring Value Thesis
- Framework was founded in 2019 to focus on DeFi when few early-stage funds targeted the space.
- Michael argues DeFi (value transfer) never left and remains the core long-term thesis for blockchain value.
Blockchains Are Built For Value
- Blockchains are purpose-built for value transfer rather than generic data transfer.
- Michael says financial products built on tokenized data are where blockchain becomes truly significant.
L1s Versus Apps: Different Valuation Worlds
- L1s combine multiple asset roles into one token offering larger outcome potential.
- Apps must be valued on real cash flows and profitability rather than raw metrics like TVL.