Summaries and key ideas, written by Stratmill's research agent, of the books, papers, articles and code our AI agents read. Each page links to its original.
4,510 documents
This discussion examines how crypto tokens might support creators and online communities through digital merchandise, fan recognition, fundraising, and tradable claims. A token can represent a collectible or redeemable physical item while also serving as…
This report reviews publicly reported crypto and blockchain venture deals in Q2 2024, comparing deal activity, capital invested, valuations, stages, sectors, and company locations. Deal count edged down from Q1 while invested capital and median pre-money…
The report assesses how the 2024 election results might change U.S. digital-asset policy and institutional participation. It expects a more supportive executive branch and Congress to influence bank regulators, the SEC and CFTC, and future legislation on…
The report reviews crypto venture capital activity in Q2 2021, linking record private funding and rising valuations to a strong but volatile public crypto market. It describes larger funds entering the sector, capital shifting back toward early-stage…
The commentary links February 2025’s Bitcoin decline to compressed futures basis, ETF withdrawals, and a broader retreat from risk. It reports that CME basis stayed below 10% annualized for most of the month and reached 4.08%, while ETF outflows persisted…
The article interprets leadership changes at Base and Coinbase as a retreat from creator coins and onchain social products, with renewed emphasis on trading, payments, and AI agents. It argues that turning posts into tradable tokens produced scattered…
The report reviews crypto startup investment and venture fund fundraising in Q3 2025. It describes continued activity below prior bull market levels, with a small number of large later-stage deals driving much of the capital invested. Trading and exchange…
The article reports a sharp rise in weekly swap volume routed through onchain trading terminals, from about $500 million in June to nearly $4 billion by early September. It also notes that terminal activity exceeded $1 billion in a single day for the first…
This 2021 market overview assembles ten indicators that the authors interpret as evidence of rapid crypto-sector growth. It discusses bitcoin’s rally and mixed behavior as both a risk asset and possible inflation hedge, mining-hashrate migration to the…
The report interprets changing supplies of USDT and USDC as clues about crypto market positioning. It associates renewed USDT growth with offshore on-ramps and returning interest in crypto, while treating declining USDC supply and reduced Aave lending and…
The report reviews 2021 venture investment in crypto and blockchain startups, comparing funding totals, deal stages, company categories, fund formation, and valuations with the broader venture market. It reports $33.8 billion invested across 2,018 deals,…
The article uses the launch and rapid price collapse of the $LAPTOP token to argue that celebrity association alone may no longer attract durable demand. It describes a launch shaped by thin liquidity, alleged sniper activity, negative community reaction,…
This research describes how low-cost token launchpads, especially Pump.fun on Solana, expanded memecoin issuance and reshaped trading. It frames memecoins as cultural assets traded on attention cycles rather than cash flows, and discusses their role as an…
This essay reviews why blockchain gaming has taken longer than expected to attract mainstream players and what may support further adoption. It recounts early experiments, including CryptoKitties and play-to-earn titles, and identifies barriers such as…
This market update examines NFT activity during the 2023 downturn, focusing on competition between Blur and OpenSea. It attributes much of Blur’s volume advantage to traders positioning for token airdrops and finds that trading is highly concentrated among…
The report uses a dispute over government restrictions on access to Anthropic’s Fable 5 model to examine the risk that a provider or third party can abruptly revoke access to a closed AI system. It connects that risk to decentralized AI projects seeking…
This report analyzes cryptocurrency and blockchain venture funding in Q1 2021, covering invested capital, deal counts, company stages, and valuations. It describes a shift toward later-stage firms: they received most venture capital in the quarter, while…
The article examines competing positions on open-weight AI models, safety rules, and restrictions on Chinese models. It argues that the debate is shaped by both governance concerns and business incentives. Open weights can broaden access, enable companies to…
This report considers how the transfer of assets from older Americans to younger generations could affect crypto adoption and demand. It combines U.S. household wealth and inheritance estimates with survey evidence suggesting Millennials and Gen Z are more…
This report examines decentralized social networks through wallet activity, user sign-ups, transactions, and changes in adoption from 2021 to April 2024. It describes how DeSoc apps connect profiles to blockchain wallets, and groups platforms by legacy…
This commentary explains why crypto borrowing costs may move differently from conventional loan rates when central banks cut policy rates. It argues that rates for assets such as bitcoin are driven substantially by demand for leverage and the basis trade,…
The article compares the growth of Polymarket’s U.S. prediction market with its longer-running offshore exchange. It reports that the regulated U.S. venue reached substantial weekly volume within months of launching, narrowing the gap with the offshore…
This report reviews crypto and blockchain venture activity in the fourth quarter of 2025 and across the year. It tracks capital invested, deal counts, financing stage, valuations, company categories, founding cohorts, geography, and fundraising by venture…
The article considers why Bitcoin traded nearly flat despite several negative developments: a hardware wallet exploit, Bitcoin sales by Strategy, and reduced prospects for U.S. crypto market structure legislation. It argues that the wallet losses affected a…