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Today's edition is brought to you by Roots - the first real estate portfolio that creates wealth for both its investors and its residents. |
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GM. This is Milk Road, your crypto Pop Rocks. Experience the explosive sensation of profitable opportunities popping up in your portfolio. |
It’s Friday! Let’s get it: |
Crypto use case: tokenized carbon credits 👀 TradFi CEOs’ crypto views: love or hate? ⏪ Funding Friday: Web3 companies that got money this week 💰 CNBC had a funeral for Bitcoin 5 years ago 🍪
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 | Prices as of 9:20 AM ET. |
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CRYPTO USE CASE OF THE WEEK 👀 |
There’s one question that will make every crypto investor tremble… |
What are some real-world use cases? |
Suddenly, it feels like the final level of “Who Wants To Be A Millionaire”. You start sweating in places you’ve never sweat before. |
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Well - have no fear, the Milk Man is here. |
With the weekend coming up (AKA primetime crypto debate time), we figured it’d be a good idea to give you some ammo just in case you get asked the million-bitcoin question. |
And check it out, we just found a cool database of use cases. It’s called The Value Prop. |
Here’s one cool use case we came across: |
TOKENIZED CARBON CREDITS |
I won’t lie to you, we aren’t environmentalists and had no idea what carbon credits actually were so we did a little research… here’s how I'd explain it to a first-grader: |
Global warming is getting bad. (Real bad, Michael Jackson). |
The good thing: There are a ton of smart people out there building solutions to try to save us. |
The bad thing: The smart people trying to save the world don’t get much funding. |
So in order to solve this, a carbon credits market was created. This is how it works: |
Every time a project successfully removes 1 ton of carbon from the atmosphere, they get 1 carbon credit. These carbon credits are then sold to individual companies. The companies buy carbon credits to reduce their carbon footprint and meet regulatory requirements. Companies try to buy 1 carbon credit for every 1 ton of C02 they create from factories, trucks, etc. (It’s an “offset”).
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But there’s another issue: these transactions are slow and mostly done over the counter. |
That’s where the blockchain comes in. By tokenizing the carbon credits and putting them on a blockchain, it makes the market more transparent, liquid, and accessible. |
Big corporations get to say they’re net-zero and the environmental projects get some funding. It’s a win-win. Gold stars all around. |
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Here are a few companies that are doing this today: |
Nori KlimaDAO Coorest Andes
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Crypto gets a ton of hate for hurting the environment, so it's good to see a few projects all tackling environmental problems here. |
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MEMORY LANE: TRADFI CEOS’ VIEWS ON CRYPTO ⏪ |
Looking back on TradFi CEO’s comments on crypto can feel like looking back at your old Facebook posts. |
Song lyrics, music quotes… Sh*t’s embarrassing. |
But it’s fun. Which is why we’re about to “Facebook stalk” CEOs of the TradFi giants that are jumping into crypto right now. |
And look at all the crypto hate (and love!) they spouted back in the day. |
Let’s dive in… |
Larry Fink, BlackRock CEO |
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How it started: |
Said “Bitcoin just shows you how much demand for money laundering there is" "Bitcoin is an index for money laundering - that's all it is." And in 2018, said none of the company’s clients were interested in buying crypto
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How it's going: |
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Milk Road H8er Meter: 11/10 |
Ken Griffin, Founder of Citadel |
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How it started: |
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How it's going: |
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Milk Road H8er Meter: 12/10 |
Walt Bettinger, CEO of Charles Schwab |
How it started: |
In 2021, said was looking “cautiously” and “closely” at the crypto market Was waiting for regulatory clarity. If it came, the company would “be a player in the space” & “disruptive”
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How it’s going: |
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Milk Road H8er Meter: 3/10 |
Now for the one on this list that’s actually been bullish for ~a decade… |
Abigail Johnson, CEO of Fidelity |
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It’s like that only friend in the group who’s been saying aliens were real and no one believed them. Until UFOs started landing everywhere. |
She: |
Is a big digital asset advocate Has mined ~200K satoshis Oversaw a small mining operation launched within Fidelity that makes it a lot of money Led Fidelity as 1 of 3 companies that launched a new crypto exchange. It’s also rumored to apply for a Bitcoin ETF…
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Milk Road H8er Meter: 0/10 |
Milk Road Take: You’re not entirely defined by that Evanescence song lyric you posted on Facebook in 2012. |
Just like these execs and their companies aren’t entirely defined by the smack they’ve talked about crypto in the past. |
Once a h8er ≠ always a h8er. |
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FUNDING FRIDAY 💰 |
It’s Funding Friday! This week, ~$38M was raised by crypto companies. |
Here’s who secured the money: |
Kaito got $5.5M to build an AI-powered search engine for crypto. There are more AI crossovers than in the NBA during the early 2000s. If you know, you know. |
TaxNodes got $1.6M to create crypto tax and accounting solutions. Crypto taxes made easy. |
TapiocaDAO got $6M to develop a multi-chain money market. Users can borrow, lend, and leverage up across 20+ different blockchains. |
Check out the full database of companies that have raised money this week, right here. |
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MILK & COOKIES 🍪 |
Five years ago, CNBC said it was having a funeral for Bitcoin. BTC was $6,027 at the time - now it’s at $30K+. |
Microstrategy turned profitable yesterday with its $4B in Bitcoin. Michael Saylor’s company is in the green with BTC higher than Microstrategy’s average purchase price of $29,803. |
Pepe (memecoin) came back to life and jumped 35% in one day. Bitcoin’s rally & major accumulation is behind the rise. |
Binance is being investigated in Brazil over pyramid scheme allegations. Parliament will decide soon if Binance Brazil’s chief will testify. |
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MILKY MEMES 🤣 |
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HIT THE INBOX OF 250K+ CRYPTO INVESTORS |
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What'd you think of today's edition? |
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ROADER REVIEW OF THE DAY |
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VITALIK PIC OF THE DAY |
 | Milk Road Images @MilkRoadImages |  |
| happy Friday, Roaders https://t.co/vLINRo8iES |  | | Jun 23, 2023 | |  | | 0 Likes 0 Retweets 0 Replies |
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. |