The Rollup

Dan Tapiero, founder and CIO of 50T Funds and former macro hedge-fund manager, lays out his bold $50 trillion digital-asset thesis. They explore institutional adoption, stablecoins, tokenization, prediction markets, agentic finance, and why multiple blockchain winners can emerge. Tapiero also weighs America’s leadership, AI-driven deflation, Fed policy, and Bitcoin’s path toward $1 million.

Evan Van Ness, a former Ethereum Foundation leader and Starbloom Capital investor, makes the bullish case for Pearl. They explore useful proof of work, AI inference powered by matrix multiplication, mining alongside data centers, and the flywheel that could drive cheaper computation. The conversation also tackles Bitcoin’s security budget, Pearl’s upcoming fork, data center constraints, and whether Pearl could rival Bitcoin’s scale.

John D’Agostino, a Coinbase Institutional executive and former NYMEX strategy chief, explores why tokenization is already reshaping finance. He discusses the steady stream of institutional catalysts, the rise of 24/7 onchain markets, constructive SEC dialogue, and Coinbase’s push for equal access. He also examines permissioned and permissionless chains, plus how tokenized deposits could transform community banking.

Tom Pikett, Executive Director at DTCC Digital Assets, is helping bring regulated securities infrastructure onchain. He discusses DTCC’s tokenization of 34 securities, the potential for $30 trillion in assets, and why mobile collateral could transform global liquidity. The conversation also explores tokenized money market funds, Chainlink-powered workflows, shared compliance standards, securities lending, and DTCC’s upcoming collateral app chain.

Tom Zschach, co-founder and CEO of Logos and former Swift Chief Innovation Officer, discusses the institutional shift to tokenized assets. He explores DTCC’s milestone, the need for verifiable proof, privacy, cross-network mobility, and Logos’ vision for an acceptance layer. They also examine investment opportunities as trillions move onchain and the infrastructure needed for global adoption.

Diego Perez de Ayala, known online as Solana Legend, is an investor, entrepreneur, and co-founder of Frictionless. He explores why crypto’s future lies in rebuilding Wall Street’s functions onchain, from execution and clearing to lending and risk management. They discuss tokenization’s stablecoin-like beginnings, the race for licenses, 24/7 markets, the Kodak dilemma facing incumbents, and which chains could win capital markets.

Kristen Mierzwa, Head of Digital Assets at FTSE Russell, explores finance’s shift to 24/7 markets. She discusses Russell indices moving onchain, tokenized equities and cross-asset baskets, global demand for round-the-clock trading, and stablecoin coverage expanding from 12 to 95 assets. She also examines decentralized pricing, AI-managed wealth, and why tokenization depends on layer-one networks.

Jeremy Schwartz, WisdomTree’s Global Chief Investment Officer and co-author of Stocks for the Long Run, explains why today’s tech market differs from 2000. He explores AI’s early adoption, vibe coding, SpaceX and Tesla, Bitcoin as a portfolio diversifier, and the evolution beyond 60/40 portfolios. He also details WisdomTree’s tokenized gold, money-market funds, and the future of 24/7 ETF trading.

James Seyffart, Bloomberg Intelligence’s digital-asset research analyst, explores tokenization’s early days and the accelerating convergence of traditional finance and DeFi. He discusses tokenized stocks, ETFs, DTCC and bank experiments, blockchain disappearing into the financial backend, Bloomberg’s embrace of onchain data, institutional fascination with Zcash, AI agents transacting onchain, and Bitcoin’s potential path to a $10 trillion market.

Sergey Nazarov, co-founder of Chainlink, explores the infrastructure powering institutional blockchain adoption. He discusses why tokenized assets must outperform traditional finance, how Swift and DTCC connectivity could transform collateral and securities lending, and why cross-border capital from Dubai and Singapore matters. He also previews Chainlink tools designed for AI agents navigating DeFi and real-world assets.