Blockworks Inc.

Instinct, my favorite company in the world.

Instinct, other than Blockworks.

I said, go long, Instinct.

Raising $10 billion.

Rob

Dragonfly.

Should we get like a part of the podcast every week that is like Blockworks update?

Now that we're shipping on a weekly basis, we could rob.

The good thing now is you have, like, three or four years of, like, a protocol like Pump.

You look at the cash flow, go look at the Blockworks data.

It's like, okay, like, it was a pretty brutal market last couple months, like last 12 months, and these guys have continued to crank cash.

Like, okay, I, I c- I can-- I'd rather just be super concentrated in, like, five names, which happen to be, like, venture positions.

100%

...

I love b- we use Ramp at Blockworks.

I'm not saying that about Ramp.

All right, guys, welcome back to the tokenization tower.

We are here with Felix Javin, head of content at Blockworks, also my macro expert, in-house macro expert.

Great to have you.

Beautiful day in the city.

And you guys

are doing great work there.

Just as a side note on the token transparency stuff on, you know, it's now like, look, if you have a good token transparency report on Blockworks and Andy likes your economics, you're flying.

You know what I mean? It's not that simple, but it's like, this is what we're trying to do here.

Walk me through what you think happens maybe in three to five years from now.

One thing I've noticed at BlockWorks.

So we just had the, you know, usually with headcount, everyone wants headcount in a company.

Everyone wants to add more people and everyone wants the budget.

I wrote, the future of...

So we launched the business.

We launched BlockWorks in end of 2017.

So I said, this is June of 2018.

I'm like, dude, see you later.

Blockworks.

I got a new career.

It's average Joe crypto.com. And like, here we go.

It is pegged, so it is trading exactly like what any other stock token is doing out there.

So you look at this BlockWorks research, backpack fills cost less than in four stock samples that they did.

Basically, you're looking at much cheaper fees here on backpack than on Robinhood.

And this means that Arbitrum is going to have to deal with this in some way.

It's been a good...

Maybe not for the crypto prices, but it has been a good year for Blockworks and a good year for life.

So good to see you, David.

Yeah.

So, uh, let- let's use Bit- uh, Bitcoin ETFs as an example.

I, I don't think Bitcoin ETFs and, you know, crypto ETFs as a whole are, um, super interesting other than that they are confirmation that the marginal traditional investor is coming back in.

So l- you know, I'm looking at Blockworks's data here, and I'm happy to share my screen if you want, but, you know, if you look at, uh-

Yes.