Franklin Resources has a total of $1.60 trillion in assets under management. The total fixed income assets under Franklin Resources management stands at $565.9 billion. The total equity assets under...

Unveiling Franklin Resources (BEN) Earnings: Assets Under Management Reach $1.60 Trillion | Smartkarma

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Franklin Resources, Inc. is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries. The firm invests in the public equity, fixed income, and alternative markets. Franklin Resources, Inc. was founded in 1947 and is based in San Mateo, California with an additional office in Calgary, Canada; Dubai, United Arab Emirates; Edinburgh, United Kingdom; Fort Lauderdale, United States; Hyderabad, India; London, United Kingdom; Rancho Cordova, United states; Shanghai, China; Singapore; Stamford, United States; and Vienna, Austria.

Franklin Resources

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What’s stopping you? is one of the most fascinating careers in tech right now and is also one of the hottest careers all over the world owing to the growth opportunities in this field. Product Managers grow to become CEOs, CXOs, and founders. Wonder why that is the case? Product Management The reason As a Product Manager, you get to work with designers, engineers, analysts, data scientists, finance, marketing, third-party vendors, customer service, and whatnot. The list is endless! Every day is different and you need to have at least a basic level of understanding in all the domains to understand the problems. You learn technical, , design, and communication skills in a very short period by interacting with so many different stakeholders daily and getting the work done without having any formal authority over anyone. These skills help PMs become great leaders who help turnaround the company by onboarding and motivating everyone to work towards a common vision. business Is it the right fit for you? It seems like a glamorous world to people who want to get into Product Management and to some extent it is! In reality, Product Management is a thankless job and you are constantly on your toes to work on the next big thing, solving customer problems, driving business growth, etc. “All that glitters is not gold” - William Shakespeare Make no mistake, I love working as a Product Manager and I don’t see myself doing anything else. But if you are thinking to get into Product Management, you need to first ensure that it is the right fit for you. Ask yourself honestly the following five important questions: 1. Can you empathize with customers? 2. Do you love solving problems? 3. Do you like working with different stakeholders? 4. Do you have the attitude for getting shit done? 5. Can you handle a lot of meetings (a lot might be an understatement) and emails? If the answer to all the above questions is , you are already one step closer to becoming a Product Manager and you have come to the right place. Now, let us see how we can get you there. YES How to get into Product Management : Nothing can teach you Product Management better than starting your company. Reason? Because as a founder, you do everything on your own (at least in the starting). You’re your company’s Data Analyst, Marketer, Product Manager, Customer Support, and whatnot. You become a jack of all trades and master of none, which is exactly what is needed to be a great Product Manager because you interact with so many different stakeholders every day. It is a fun with great learning experience but it can be quite expensive if your ultimate goal is just to get into Product Management. However, if you get that opportunity and are up for the challenge, I’d recommend trying your hand at at least once. I started my startup and in the process, especially things that don’t work, which brings you one step closer to things that will work. 1. Starting your own company rollercoaster ride entrepreneurship learned so much “I have not failed. I’ve just found 10,000 ways that won’t work.” - Thomas Edison : This route is most suited for fresh graduates. Big companies such as Facebook, , Amazon, Apple, Microsoft, etc. have APM programs that help people with get into Product Management. These programs help you learn fast because of the , which includes working on live high user base products, access to mentorship and coaching, rotation within different product organizations, and the opportunity to build a network but are . You can find a list of all APM programs and signup for the programs to get a notification when they do open up. The other route is getting a summer internship at a big company. You can find internships . 2. Associate Product Manager (APM) Programs/Internship Programs Google no experience well-designed curriculum very competitive here here Image Source: RocketBlocks : This is one of the quickest ways to get into Product Management without spending a penny. It doesn’t matter which role you’re working in. There will always be something in your role that you can or at least try to get closer to the product team within your organization. Meet Product Managers and try to understand their role, in any which way you can, and to join their team. I have seen people moving from Marketing, Customer Experience, Operations, Analytics, Engineering to Product Management. So can you! You can find more details on how to do that transition . 3. Transition within the company mold into Product Manager responsibilities extend your help express your desire here “If you really want to do something, you’ll find a way. If you don’t, you’ll find an excuse.” - Jim Rohn 4. A lot of people also pursue an MBA to get into middle or senior level Product Manager roles at big companies, which pay handsomely to freshly minted MBAs. Fortune 500 companies for these roles and other companies are constantly looking for MBAs to fill up Product Manager roles. You might be thinking why? Some of the main reasons are that MBAs get to interact with a lot of people from different backgrounds during MBA, work with them on a couple of wide range of projects, give presentations and take mandatory courses such as Finance, Strategy, Operations, Data Analytics, etc. So, MBA is an that is useful for the Product Management job. But it does come with a price, a hefty price! You can find more details on how an MBA can help and the Product Management plan . MBA: recruit MBAs directly from campus overall package here here “Get an education because no one can take that from you.” - Nomar Garciaparra 5. : There are other Product Management specific programs/boot camps offered by companies such as , These are comparatively less expensive than an MBA and are seeing a rising trend for Product Manager aspirants. These might also be helpful for people who want to transition within the company but lack some skills and don’t want to spend a lot on higher education. These boot camps help you with the required for Product Management by building digital products, getting mentorship, teaching case studies, etc. The best part is that these courses are taught by featured instructors from fortune 500 companies. PM Bootcamps/Programs Product School General Assembly. skills and knowledge “An investment in knowledge pays the best interest.” - Benjamin Franklin Resources to get you started ASAP All of the above steps might take some planning and time to execute but no one is stopping you to start learning the ins and outs of Product Management. Check out some of the following well-known resources that will help you get a better idea of Product Management responsibilities and how to crack Product Management interviews. Cracking the PM Interview: How to Land a Product Manager Job in Technology Inspired: How to Create Tech Products Customers Love The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses Swipe to Unlock: The Primer on Technology and Business Strategy Decode and Conquer: Answers to Product Management Interviews In case you’re wondering how I got into Product Management - I started my own company and worked on e-Commerce products, developed and launched some products during my MBA, and worked in a Product role at my University. Happy learning & Best of luck! Let me know if you find this blog helpful.

5 Ways And Resources to Get Into Product Management

Learn how Nick Franklin has taken ChartMogul from $0 to millions in ARR by helping other SaaS businesses understand their recurring revenue analytics. Davis Baer : What’s your background, and what are you working on? : My name is Nick Franklin, I’m the founder and CEO of a SaaS startup called . ChartMogul makes software to help subscription businesses measure, understand and grow their recurring revenues. We plug directly into our customers’ subscription billing systems (e.g., Stripe, Recurly, PayPal, iTunes Connect, etc) and automatically calculate things like monthly recurring revenue (MRR), churn rate, average revenue per customer, and even GAAP revenues. Users can then segment their metrics to uncover further insights and make data-informed decisions. Nick Franklin ChartMogul ChartMogul is used by over 2,000 businesses, including many top SaaS brands such as Typeform, Pipedrive and Calendly, as well as many consumer subscription services like LingoKids, brainHQ and BKOOL. Today our ARR is in the single-digit millions, so we’re on the journey towards $10M ARR. Over half our team (of 34 people) is involved in product and engineering, so we’re still very much R&D focussed with quite a lean sales and marketing operation. Our second largest team is customer success. Prior to launching ChartMogul I spent five years at Zendesk, where I joined as the 9th person on the team and was responsible for the EMEA and then Asia markets. What motivated you to get started with your company? Prior to joining Zendesk I was working at another software company in the product team, and product is really where my heart has always been. I’d also always had an ambition to try and start a company. So while I spent 5 years on the commercial side at Zendesk, the pull to get back to building product and also to try my hand at founding something was always there. I saw the need for a solution like ChartMogul while working at Zendesk. We had built some custom dashboards to track our MRR using one of the early SaaS BI tools, but it was quite a poor user experience and I couldn’t quickly find answers to simple questions, e.g., if I wanted to see what the average revenue per customer was in Hong Kong vs Singapore, it wasn’t possible without writing some custom SQL. But despite these shortfalls it was still quite useful (and also addictive) to keep checking these dashboards, I was checking them a couple times per day, my boss was checking them…so I saw there could be something very useful and engaging there. Once the initial idea was there I didn’t really spend time on additional validation — my personality is to trust my gut and see if people will use what we make. It’s probably a useful trait while things are getting started, though at our stage I now try to be more methodical with decision making. I also had little to no expertise in data and analytics, but did have nearly seven years experience working at cloud software companies. I was working at Zendesk in Asia (we’d just finished opening an office in Manila), when I left my job and moved to Berlin (more about here). I had some savings and used some of these to finance the initial beta development of ChartMogul until we took on our first seed round, which was $600K, led by . that decision Point Nine Capital I didn’t really have an alternative idea, I had dreamed of doing something for consumers as I thought this was cooler, but in the end my experience in B2B SaaS led me to take a path that I had more confidence would be successful. What went into building the initial product? It look us around six months to build our first beta version. The initial development was done by 2–3 engineers I found via UpWork + myself, and our creative director led on the design side. I initially went part time at Zendesk in order to have time to dedicate to ChartMogul, but I quickly realized I really needed to be all in to have any chance of success, so being part time only lasted around three months. We spent between $50K and $100K getting to initial beta release, with the majority of that money going towards engineering costs. While I understand our tech stack and can code Ruby and JavaScript, professional engineers run circles around me, so this was a necessary expense to get to market in time with a robust product. The initial product was a Ruby on Rails app, on top of a Postgres database, with a single page JavaScript application build using Backbone+Marionette for the frontend. We also used D3.js for the charting visualizations. We always tried to buy vs. build, so used a tonne of SaaS and developer tools to speed up our time-to-market, from SendGrid, to Stripe and New Relic. How have you attracted users and grown your company? Through my time at Zendesk I was lucky to have a connection to at Point Nine Capital. He was kind enough to invite me to their annual SaaS Founders Meetup in late 2014, where I met a bunch of other SaaS founders, had some of them take look at what we were building, and made connections that I could later use when we had something more robust for them to try out. Christoph Janz In the weeks following the meetup I remember Rodrigo (now a Partner at Point Nine) was introducing me to companies in their portfolio like Typeform, who are still a client today. We were extremely lucky to have Point Nine’s support, even before I raised the subject of fundraising with them. We did a sort of official “beta launch” on stage at the very first Product Hunt meetup in Berlin, which was towards the end of 2014. This also led to us being featured on Product Hunt the next day, and that got us a tonne of signups, some of whom are still customers today. I also met Ed Shelley at that meetup, who became our first post-funding hire in Berlin, and is still with ChartMogul today. We’ve tried a bit of everything to attract users: Product Hunt, Quora, creating content and syndicating it, paid advertising, social media, co-marketing with our integration partners. For us building strong relationships with our integration partners (Stripe, PayPal/Braintree, Recurly, etc) and collaborating with them, as well as focussing on producing quality content have both been really huge, especially in the early days. We’ve also invested in building our brand and recently went through . our first re-brand Of course there isn’t really a replacement for really nailing your product, as word of mouth always will be the number one growth driver for us. What’s your business model, and how have you grown your revenue? To date we’ve always been a pure SaaS company, 100% of our revenues are from selling software subscriptions. Most of of our revenues come from our core subscription analytics product, but we also have a second product which is billed as a paid add-on called Revenue Recognition. We’ll likely one day offer some paid services along with our SaaS offerings, but I think we’re some ways off from this, in order to remain focused we’ll probably be pure SaaS in terms of revenues for some time. One of the advantages of our product is that you can combine revenue data from different sources and consolidate everything in one system. Because of wanting to test this benefit, we knowingly took the decision to create a bit of overcomplexity in our own payment stack. So we use a combination of Stripe, Braintree and Recurly to bill our customers, which does require a bit more maintenance than a normal SaaS startup would have to deal with at our stage (normally you’d want to start with just a single billing system), but it allowed us to build knowledge internally about how different systems work, and also dogfood ChartMogul’s ability to aggregate payment data from different payment systems. While we’ve experimented with outbound in the past, we’ve not found it to be an effective channel for us, so today all our leads come inbound in the form of a free trial signup, or demo request. We then have our sales team, which is a small team of four people, work to try and convert these inbound signups into paying customers. There are really only four high-level metrics to look at in terms of what drives revenue growth: Number of leads, conversion rate from lead to paying customer, average deal size and churn rate. Positively impacting revenue growth for us has really just been a never ending effort to make incremental improvements to these four metrics, e.g., create some great content to try and get more leads, refine our product to improve conversion rate, chip away at the reasons customers cancel, tweak pricing or focus on the needs of larger opportunities to increase deal size. Our focus recently has really been on reducing the reasons customer’s cancel, as we feel reducing churn is the thing that will have the biggest impact at the scale we’re at now. Churn was something that kind of crept up on us, we had almost no churn in our first few months, so naturally we focussed on expansion vs. retention. But in reality we have some churn like every SaaS business, and in every B2B SaaS business retention becomes the biggest growth driver in a way, so it’s worth focussing on churn really from day one, perhaps even before you actually have any meaningful churn data to look at. What are your goals for the future? Our mission is to help businesses grow faster using their revenue data, and we’re still only scratching the surface of what is possible here. So we have a very ambitious product roadmap. Our long-term ambition is to build an iconic SaaS company whose products are used (and loved) by hundreds of thousand of people around the world every day…so we’ve a long way to go before we realize this vision for ChartMogul. In terms of accomplishing these goals, I think the biggest challenge comes down to people. Will we be able to attract the people we need to accomplish these goals, can we get everyone aligned and working together well and will we be able to retain our people? Past a certain size (and we’re certainly past that size at 34 people) every problem is really a people problem. With the right people, in the right market, with the right incentives, all working together well, there’s very little that cannot be accomplished. What are the biggest challenges you’ve faced and obstacles you’ve overcome? If you had to start over, what would you do differently? I’ve made countless mistakes, be it a hire that didn’t work out, a product decision that wasn’t right, not focussing my attention where it was really needed, micro managing (or under managing), etc. I feel like being a first-time founder & CEO of a startup is like the ultimate education. I used to think something along the lines of… “yeah in big companies they always say ‘people are the number one asset’ but we’re a startup, our shiny new product is our number one asset”, and that’s completely wrong, everything that’s produced by the company is just a reflection of the quality and health of the team. So if I was to start over I would put far more focus on building a really solid foundation and culture earlier on. Jason Lemkin says it best, your job as CEO is to just to hire the best team you can possibly hire with the resources you have and then just support them. It sounds simple, but really hard to do in reality. Moguls talking with ChartMogul customers. Have you found anything particularly helpful or advantageous? I think doubling down on content from day one was really a good decision for us, it’s a long-term investment but it really pays off to start making that investment early. The job of founder/CEO has forced me to adapt and grow up a lot as a person. Being accountable to 30+ employees, thousands of customers, and our investors, is a job with a lot of responsibility that I’m not sure there’s any shortcut to getting good at. I’ve found being honest with myself and the people around me about what I do and don’t know, and making a commitment to constant improvement is the best approach. Four years ago when we were getting started I think I wanted to appear a bit like the invincible founder who knew what he was doing (“We’re crushing it!“), and therefore was reluctant or show any weakness or ask for help from others. But in reality everyone is winging it to some extent (and few are truly “crushing it”) and asking for help actually shows strength and not weakness…so this is something I’ve learnt over time. There are also a tonne of great books that have helped me, and are both invaluable. I’m not a very fast reader so audiobooks are really helpful for me here. The Hard Thing about Hard Things High Output Management I’ve also found exercise to be really beneficial. I began going to the gym regularly around the same time as we started the company and I think this has really helped me with general wellbeing and managing the stresses of the job. What’s your advice for entrepreneurs who are just starting out? If you are still on the fence about starting a company, my number one piece of advice is to just get started. It’s not original, but it’s true! Don’t wait. You can always get another job or figure out some backup plan if it doesn’t work out. Often fear — fear of failure, loss of status and income at a good job — is the thing holding people back from getting started. I know it was for me! Making decisions (or worse, avoiding decisions) influenced by fear is never good. I love the saying “Hard choices, easy life. Easy choices, hard life.” One book I wish I’d read before getting started is . It talks in depth about the concept of category creation, with the general thesis being that most founders spend their time on building a company and a product, but rarely do they consciously define and build their category at the same time. Play Bigger When I meet SaaS founders who are just starting out, the thing that seems to regularly separate the ones who do really well vs. the ones who don’t do so well is this: When the product they’re building seems to be solving some seemingly small but well-defined problem, and just focusses on solving this problem, then they tend to always do well. When I see products that are trying to do many different things for different people at the early stages then this is usually a sign things are unlikely to go well. I guess “focus on doing one thing really well”, is tired advice but I’ve seen it play out quite a few times. Where can we go to learn more? You can find me on twitter at , and you can find out more about ChartMogul over at . I’ll be very happy to answer any questions in the comments below. https://twitter.com/nick_franklin chartmogul.com This interview is brought to you by , a tool to schedule and automatically repeat your posts on Facebook, Instagram, Twitter, Pinterest, LinkedIn, and Google My Business OneUp

Founder Interviews: Nick Franklin of ChartMogul

PARIS, France, April 25th, 2024, Chainwire Prize pool of over 1M€ value including media grant from Cointelegraph
Proof of Pitch is part of Proof of Talk, where All Global Leaders in Web3 Meet
10-11 June 2024, Museum of Decorative Arts (MAD), Louvre Palace, Paris In a ground-breaking shift from traditional pitch competitions, Proof of Pitch emerges as a transformative platform uniquely combining Artificial Intelligence (AI) insights with the strategic acumen of the world’s leading Web3 venture capitalists. Proof of Pitch participants will showcase their presentation to an exclusive audience of speakers and VCs, including CEOs, founders of leading blockchain companies, and top Web3 VC partners. Next to the competition’s main sponsor zkSync, distinguished partners and jurors are participating, including Pantera Capital, Borderless Capital, Binance Labs, Greenfield Capital, Arrington Capital, Animoca Brands, Spartan Group, X Ventures, Mechanism Capital and Cointelegraph. The Proof of Pitch winner will be awarded a first-place grand prize award of 1M€ value in a combination of cash investments by participating VCs, Accelerator services, visibility (such as a 30k media grant from Cointelegraph), and many other value-adding elements. All participants will also receive a detailed 12-page investment report to understand the strengths and weaknesses of their pitch, outlining strengths to focus on and weaknesses to improve. This is equivalent to a team of analysts spending weeks analyzing the participant's startup. Zohair Dehnadi, Co-Founder, Proof of Talk and Partner, X-Ventures: “Unlike conventional pitch competitions, Proof of Pitch enables global businesses and leadership to intelligently tap into the power of Web3, providing valuable and sustainable insights for investors and the startup community at large instead of having just another light-touch startup competition with glittering prizes which ultimately do not add any real business value. Be part of our prestigious Proof of Pitch experience and elevate yourself! See you in June!” Revolutionizing Startup Evaluation: The AI Advantage At the heart of Proof of Pitch, a pioneering AI-driven tool is redefining startup assessments, providing deep, nuanced insights at an unprecedented pace. Developed by XVentures through a rigorous, year-long collaboration involving top VCs and data scientists, this AI, known as Pitch Scan LLM tool, can scrutinize a start-up’s business model, conducting thorough due diligence, and evaluate the team behind the idea, market size, and competitive landscape—within minutes rather than weeks. Every participant will be furnished with a detailed 10-page report, with a strategic roadmap for success in the ever-evolving Web3 domain. Beyond Funding: Prizes That Foster Growth This initiative is a revolutionary approach aimed at identifying, nurturing, and elevating start-ups set to redefine the innovative horizons of Web3. Winning at Proof of Pitch extends well beyond obtaining financial support. Winners are embraced by a full spectrum of resources, from AI-powered analytics to mentorship by Web3 visionaries, alongside direct introductions to leading venture capitalists. This holistic support system is designed to refine strategies, accelerate growth, and establish market leadership. Unprecedented Visibility Among The Elite Gain exclusive exposure by standing among the top 10% of applicants, showcased to a distinguished audience including CEOs, founders of leading blockchain enterprises, and top-tier Web3 venture capitalists. This exposure is more than mere visibility—it’s a golden ticket to captivate the attention of the industry’s elite, secure pivotal investments, and forge transformative connections. A Vanguard Call to Web3 Innovators Proof of Pitch calls upon start-ups at the cutting edge of Web3 innovation to dazzle the industry's titans, venture through the vanguard of technology, and stake a claim in the digital future. This unparalleled opportunity allows participants to showcase their visionary ideas, propel their start-ups forward, and create a lasting impact in the domain of digital innovation. Proof of Pitch invites those who are interested to dive into this revolutionary journey, an avenue for transcending traditional pitch norms. Navigate through the forefront of Web3 innovation. Proof of Talk seeks to welcome over 2500 participants. Combined with a stellar speaker line-up featuring CEOs, founders, and leaders of the Web3 and digital assets industry, the summit features impact-focused networking and a refined agenda. A few of the speakers include: ● Joseph Lubin, CEO and Founder at Consensys ● Jenny Johnson, CEO, Franklin Templeton ● Tim Draper, Founder, Draper Associates ● Ophelia Snyder, Cofounder President, 21Shares ● Mihailo Bjelic, Co-Founder, Polygon ● Raoul Pal, Crypto Macro Economist ● Yat Siu, Chairman, Animoca Brands ● Stani Kulechov, CEO, Avara ● Staci Warden, CEO, Algorand Foundation ● Tim Grant, CEO, Deus X Capital ● Digital asset leads from over 30 major TradFi banks ● Partners from 100+ attending VCs The summit’s agenda also actively reflects Web3’s growing importance, with over 20 panels, 10+ workshops, and over a dozen keynotes and firesides on key topics shaping Web3’s future. These include real-world asset tokenization, AI-blockchain integration, gaming evolution, and smart contract security. Participants in this year's Proof of Pitch can showcase their innovative ideas and gain valuable exposure. Participants have the opportunity to connect with industry experts and potential investors who can help elevate their businesses to the next level. Those who are interested can apply here. About Proof of Talk Proof of Talk is setting a new standard in the Web3 conference landscape, positioning itself not just as another web3 conference but as a pivotal forum where the promise of decentralization comes to life. The summit uniquely combines the essence of traditional economic forums with the dynamic, decentralized Web3 community, fostering an innovative ecosystem of dialogue and action. It stands as a platform for change, where every voice, from the seasoned economist to the radical Web3 founder, contributes to a collective vision of a decentralized economic future. By facilitating engaging discussions and unparalleled networking, participants shape this new landscape. Learn more at www.proofoftalk.io About X Ventures X Ventures is a Germany-based digital assets investment fund dedicated to supporting and empowering entrepreneurs in the Web3 industry. Alongside its investment activities, X Ventures founded www.xschool.io, aiming to provide accessible education to future leaders worldwide. Website: https://www.xventures.de Contact Shanna Molina Cognito shanna.molina@cognitomedia.nl This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here. PARIS, France, April 25th, 2024, Chainwire PARIS, France, April 25th, 2024, Chainwire Prize pool of over 1M€ value including media grant from Cointelegraph Proof of Pitch is part of Proof of Talk, where All Global Leaders in Web3 Meet 10-11 June 2024, Museum of Decorative Arts (MAD), Louvre Palace, Paris Prize pool of over 1M€ value including media grant from Cointelegraph Proof of Pitch is part of Proof of Talk, where All Global Leaders in Web3 Meet 10-11 June 2024, Museum of Decorative Arts (MAD), Louvre Palace, Paris In a ground-breaking shift from traditional pitch competitions, Proof of Pitch emerges as a transformative platform uniquely combining Artificial Intelligence (AI) insights with the strategic acumen of the world’s leading Web3 venture capitalists. Proof of Pitch participants will showcase their presentation to an exclusive audience of speakers and VCs, including CEOs, founders of leading blockchain companies, and top Web3 VC partners. Proof of Pitch Proof of Pitch Next to the competition’s main sponsor zkSync, distinguished partners and jurors are participating, including Pantera Capital, Borderless Capital, Binance Labs, Greenfield Capital, Arrington Capital, Animoca Brands, Spartan Group, X Ventures, Mechanism Capital and Cointelegraph. The Proof of Pitch winner will be awarded a first-place grand prize award of 1M€ value in a combination of cash investments by participating VCs, Accelerator services, visibility (such as a 30k media grant from Cointelegraph), and many other value-adding elements. All participants will also receive a detailed 12-page investment report to understand the strengths and weaknesses of their pitch, outlining strengths to focus on and weaknesses to improve. This is equivalent to a team of analysts spending weeks analyzing the participant's startup. Zohair Dehnadi, Co-Founder, Proof of Talk and Partner, X-Ventures: “Unlike conventional pitch competitions, Proof of Pitch enables global businesses and leadership to intelligently tap into the power of Web3, providing valuable and sustainable insights for investors and the startup community at large instead of having just another light-touch startup competition with glittering prizes which ultimately do not add any real business value. Be part of our prestigious Proof of Pitch experience and elevate yourself! See you in June!” Revolutionizing Startup Evaluation: The AI Advantage At the heart of Proof of Pitch, a pioneering AI-driven tool is redefining startup assessments, providing deep, nuanced insights at an unprecedented pace. Developed by XVentures through a rigorous, year-long collaboration involving top VCs and data scientists, this AI, known as Pitch Scan LLM tool, can scrutinize a start-up’s business model, conducting thorough due diligence, and evaluate the team behind the idea, market size, and competitive landscape—within minutes rather than weeks. Every participant will be furnished with a detailed 10-page report, with a strategic roadmap for success in the ever-evolving Web3 domain. Beyond Funding: Prizes That Foster Growth This initiative is a revolutionary approach aimed at identifying, nurturing, and elevating start-ups set to redefine the innovative horizons of Web3. Winning at Proof of Pitch extends well beyond obtaining financial support. Winners are embraced by a full spectrum of resources, from AI-powered analytics to mentorship by Web3 visionaries, alongside direct introductions to leading venture capitalists. This holistic support system is designed to refine strategies, accelerate growth, and establish market leadership. Unprecedented Visibility Among The Elite Gain exclusive exposure by standing among the top 10% of applicants, showcased to a distinguished audience including CEOs, founders of leading blockchain enterprises, and top-tier Web3 venture capitalists. This exposure is more than mere visibility—it’s a golden ticket to captivate the attention of the industry’s elite, secure pivotal investments, and forge transformative connections. A Vanguard Call to Web3 Innovators Proof of Pitch calls upon start-ups at the cutting edge of Web3 innovation to dazzle the industry's titans, venture through the vanguard of technology, and stake a claim in the digital future. This unparalleled opportunity allows participants to showcase their visionary ideas, propel their start-ups forward, and create a lasting impact in the domain of digital innovation. Proof of Pitch invites those who are interested to dive into this revolutionary journey, an avenue for transcending traditional pitch norms. Navigate through the forefront of Web3 innovation. Proof of Talk seeks to welcome over 2500 participants. Combined with a stellar speaker line-up featuring CEOs, founders, and leaders of the Web3 and digital assets industry, the summit features impact-focused networking and a refined agenda. A few of the speakers include: ● Joseph Lubin, CEO and Founder at Consensys ● Jenny Johnson, CEO, Franklin Templeton ● Tim Draper, Founder, Draper Associates ● Ophelia Snyder, Cofounder President, 21Shares ● Mihailo Bjelic, Co-Founder, Polygon ● Raoul Pal, Crypto Macro Economist ● Yat Siu, Chairman, Animoca Brands ● Stani Kulechov, CEO, Avara ● Staci Warden, CEO, Algorand Foundation ● Tim Grant, CEO, Deus X Capital ● Digital asset leads from over 30 major TradFi banks ● Partners from 100+ attending VCs The summit’s agenda also actively reflects Web3’s growing importance, with over 20 panels, 10+ workshops, and over a dozen keynotes and firesides on key topics shaping Web3’s future. These include real-world asset tokenization, AI-blockchain integration, gaming evolution, and smart contract security. Participants in this year's Proof of Pitch can showcase their innovative ideas and gain valuable exposure. Participants have the opportunity to connect with industry experts and potential investors who can help elevate their businesses to the next level. Those who are interested can apply here . here here About Proof of Talk Proof of Talk is setting a new standard in the Web3 conference landscape, positioning itself not just as another web3 conference but as a pivotal forum where the promise of decentralization comes to life. The summit uniquely combines the essence of traditional economic forums with the dynamic, decentralized Web3 community, fostering an innovative ecosystem of dialogue and action. It stands as a platform for change, where every voice, from the seasoned economist to the radical Web3 founder, contributes to a collective vision of a decentralized economic future. By facilitating engaging discussions and unparalleled networking, participants shape this new landscape. Learn more at www.proofoftalk.io www.proofoftalk.io www.proofoftalk.io About X Ventures X Ventures is a Germany-based digital assets investment fund dedicated to supporting and empowering entrepreneurs in the Web3 industry. Alongside its investment activities, X Ventures founded www.xschool.io, aiming to provide accessible education to future leaders worldwide. Website: https://www.xventures.de https://www.xventures.de https://www.xventures.de Contact Shanna Molina Cognito shanna.molina@cognitomedia.nl This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here. This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here. here. here.

Proof of Pitch: Transforming The Pitch Competition Landscape With AI-Driven Insights And Top Web3 VC

পিচের প্রমাণ: এআই-চালিত অন্তর্দৃষ্টি এবং শীর্ষ ওয়েব3 ভিসি সহ পিচ প্রতিযোগিতার ল্যান্ডস্কেপ রূপান্তর করা

Proof of Pitch: Transformation der Pitch-Wettbewerbslandschaft mit KI-gestützten Erkenntnissen und Top Web3 VC

Prueba de presentación: transformar el panorama de la competencia de presentaciones con información basada en inteligencia artificial y los mejores capitalistas de riesgo Web3

Preuve de pitch : transformer le paysage de la compétition de pitch avec des informations basées sur l'IA et le meilleur VC Web3

पिच का प्रमाण: एआई-संचालित अंतर्दृष्टि और शीर्ष वेब 3 वीसी के साथ पिच प्रतियोगिता परिदृश्य को बदलना

ピッチの証明: AI 主導の洞察とトップ Web3 VC でピッチ競争の状況を変革

프레젠테이션 증명: AI 기반 통찰력과 최고의 Web3 VC를 통해 프레젠테이션 경쟁 환경 변화

Prova de argumento de venda: transformando o cenário da competição de argumentos de venda com insights baseados em IA e os principais VC da Web3

Proof of Pitch: преобразование конкурентной среды с помощью искусственного интеллекта и ведущих венчурных инвесторов Web3

Satış Konuşmasının Kanıtı: Yapay Zeka Odaklı Analizler ve En İyi Web3 VC ile Satış Konuşması Rekabet Ortamını Dönüştürüyor

Bằng chứng về quảng cáo chiêu hàng: Thay đổi bối cảnh cạnh tranh quảng cáo chiêu hàng bằng thông tin chi tiết dựa trên AI và Web3 VC hàng đầu

推介证明：利用人工智能驱动的洞察力和顶级 Web3 VC 改变推介竞争格局

This paper is available on arxiv under CC BY-NC-ND 4.0 DEED license. Authors: (1) Minghao Yan, University of Wisconsin-Madison; (2) Hongyi Wang, Carnegie Mellon University; (3) Shivaram Venkataraman, myan@cs.wisc.edu. Table of Links Abstract & Introduction Motivation Opportunities Architecture Overview Proble Formulation: Two-Phase Tuning Modeling Workload Interference Experiments Conclusion & References A. Hardware Details B. Experimental Results C. Arithmetic Intensity D. Predictor Analysis 8 CONCLUSION In this work, we examine the unique characteristics of energy consumption in neural network inference, especially for edge devices. We identified unique tradeoffs and dimensions between energy consumption and inference latency SLOs and empirically demonstrated hidden components in optimizing energy consumption. We then propose an optimization framework that automatically and holistically tunes various hardware components to find a configuration aligned with the Pareto Frontier. We empirically verify the effectiveness and efficiency of PolyThrottle. PolyThrottle also adapts to the need for fine-tuning and proposes a simple performance prediction model to adaptively schedule finetuning requests while keeping the online inference workload under the inference latency SLO whenever possible. We hope our study sheds more light on the hidden dimension of NN energy optimization. REFERENCES Jetson partner solutions ebook. URL https://resources.nvidia.com/ en-us-jetson-success-stories/ jetson-partner-solutions-ebook?lx=XRDs_y. Twitter streaming traces, 2018. URL https://archive.org/details/ archiveteam-twitter-stream-201804. Alipourfard, O., Liu, H. H., Chen, J., Venkataraman, S., Yu, M., and Zhang, M. Cherrypick: Adaptively unearthing the best cloud configurations for big data analytics. In NSDI, volume 2, pp. 4–2, 2017. Anderson, T., Belay, A., Chowdhury, M., Cidon, A., and Zhang, I. Treehouse: A case for carbon-aware datacenter software. 2022. Anthony, L. F. 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PolyThrottle: Energy-efficient Neural Network Inference on Edge Devices: Conclusion & References

On-chain asset tokenization represents a long-term trend with the potential to shake up the existing financial landscape. Within this arena, tokenized government bonds make up an increasingly important segment. The segment experienced a stellar growth of nearly seven-fold in 2023 and is quickly recovering from a brief slump at the end of 2023. The article dives into the current situation and some exciting trends in tokenized government bonds and the tokenized real-world assets (RWA) sector as a whole. Current Situation Tokenized government bonds and other tokenized real-world assets (RWA) have witnessed significant growth, propelled by rising interest rates joining forces with relatively low DeFi yields. This development has reflected investors’ appetite for asset classes that offer more stable, predictable returns. More and more investors, especially those seeking to strike a balance between the traditional financial market and the cryptocurrency market, are favoring these tokenized RWA products. A estimates that tokenization of global illiquid assets will reach $16 trillion, or 10% of global GDP by 2030. This includes both on-chain asset tokenization and traditional asset fractionalization (e.g. Exchange Traded Funds (ETFs) and Real Estate Investment Trusts (REITs)). Considering the potential market size, even capturing a small portion of this vast market would signify significant growth opportunities for the crypto industry. Boston Consulting Group (BCG) report Players in the RWA Ecosystem RWA Infrastructure Infrastructure providers in the RWA ecosystem, also known as RWA rails, provide the regulatory, technical, and operational infrastructure upon which RWAs are brought into crypto. They serve as the foundation for the entire ecosystem, and the development of RAW rails is vital to the sustainable growth of the RWA sector. Asset Providers Additionally, there are asset providers that focus on originating and creating demand for RWAs across various asset classes， including real estate, fixed income, equities, and others, contributing to the sector’s diversity and breadth. Market Size RWAs are the 11th largest sector in DeFi based on protocols tracked by , with a combined TVL of over $4 billion. According to a , the number of holders of tokens associated with RWA protocols reached over 67,000 on the Ethereum blockchain, more than doubling in the last 12 months. Within this sector, the total value of the tokenized Treasury segment increased to $719 million as of Mar 20, 2024, from around $379 million a year earlier, according to RWA monitoring platform . The average Yield-to-Maturity was at 5%. DeFi Llama Dune Analytics dashboard by @j1002 RWA.xyz That said, the combined TVL of RWAs has been slumping for the last several months after peaking at $6.271B last October. The value of the tokenized Treasury segment also dropped from $771 million at the end of last November, but it has moved back to an uptrend since February this year. As the broader crypto market recovers from the bear market, it seems that some people are pivoting to higher-yielding markets like DeFi lending and liquid restaking. User Profiles and Behaviors We’ve attempted to analyze the profiles and behaviors of RWA users to understand the underlying user demand. We observed that most RWA users are native to the cryptocurrency ecosystem, indicating that the early adopters did not come from traditional investment avenues. One of the facts that can demonstrate this observation is that the average creation date of RWA token holders’ wallet addresses predates the time when RWAs were tokenized on the blockchain. This means that the RWA userbase is a subgroup that evolved from the broader crypto community rather than a community that rose from influxes of traditional investors. RWA users often have a strong grasp of blockchain technology and many have entered DeFi long before RWAs become buzzed. We used the number of RWA token holders as a proxy to gauge RWA adoption. Both the number of RWA token holders and the unique interactions with RMA tokens have been on a continuous rise despite the recent drop in RWA protocols’ combined TVL. We believe this is a sign of the RWA sector’s increased awareness and positive expectations among investors. With a time-series analysis of the RWA holders’ wallet addresses, we’ve found that most of the addresses have been in use for a long time and have participated in various blockchain activities. This means that the RWA sector is largely participated by a healthy group of long-term crypto users. That said, we did notice growing participation from new wallet addresses as well. This probably means the RWA sector is gradually permeating into more traditional user groups as more traditional financial institutions, including Franklin Templeton and Wisdom Tree, embrace RWAs. RWAs are bridging the divide between crypto and traditional finance, but they also carry inherent risks and limitations from the real world. Most RWA interactions require checks from traditional financial systems, such as KYC/AML, credit checks, and minimum balance requirements. These prerequisites limit RWAs’ potential to extend financial inclusivity. Competitive Landscape We conducted an in-depth comparison of different projects in terms of market share, growth rates, pricing, and user experience to assess the competitive landscape. In the tokenized government bond sector, Franklin Templeton, leveraging its extensive accumulation and brand advantage in traditional finance, holds the largest market share. Ondo Finance and Matrixdock have different user demographics due to their different marketing strategies. Emerging companies like Hashnote and Superstate, while having smaller market shares, are experiencing rapid growth, demonstrating market vitality and diversity. With respect to pricing, different projects have different management fee rates, reflecting their strategies for market positioning and cost control. For example, Franklin Templeton and Ondo Finance have lower management fee rates, which help attract large institutional investors. On the other hand, Matrixdock and Maple Finance have relatively higher management fee rates, possibly to compensate for revenue pressures stemming from their smaller market shares. In terms of user experience, providing clear, intuitive, and user-friendly interfaces is crucial for attracting and retaining users due to the nature and complexity of tokenized government bond products. Additionally, with intensified market competition, enhancing service quality and customer support will become key differentiators for each project. To summarize, tokenized government bond projects are in a phase of rapid development, with significant differences among projects in market share, growth rate, pricing strategy, and user experience. Their prospects will be greatly influenced by the global economic environment, regulatory policies, and relevant technological innovations. To remain competitive, they need to continuously optimize their product features, enhance user experience, and adapt to evolving market and regulatory conditions. Major Players in Tokenized Government Bond Products Franklin Templeton Franklin Templeton is a US-based global asset manager with over $1.3 trillion in assets under management. As a traditional investment firm actively exploring the blockchain industry, Franklin Templeton has launched several blockchain-focused venture capital and equity funds in the past. Market Share: 48.6% Government Bond Product’s Market Value: $350,077,608 Management Fee: 0.15% Market Share Change in the Past Quarter: -5.51 percentage points Ondo Finance Ondo Finance launched three tokenized bond products by investing in multi-billion dollar, highly liquid, exchange-traded funds managed by the world’s preeminent bond managers, including BlackRock and Pacific Investment Management Company (PIMCO). They are the U.S. Government Bond Fund (OUSG), Short-Term Investment Grade Bond Fund (OSTB), and High-Yield Corporate Bond Fund (OHYG). Market Share: 17.01% Government Bond Product’s Market Value: $122,511,877 Management Fee: 0.15% Market Share Change in the Past Quarter: -6.69 percentage points Matrixdock Matrixdock is an on-chain treasury bond platform launched by Matrixport, a Singaporean asset management platform. STBT is Matrixdock’s first product, introducing a risk-free rate based on US government bonds. Market Share: 10.78% Government Bond Product’s Market Value: $77,674,902 Management Fee: 0.3% Market Share Change in the Past Quarter: -2.11 percentage points Backed Finance Backed is a Swiss start-up bridging real-world assets on-chain. The company has issued blB01, a tokenized short-term U.S. government bond ETF, on Coinbase’s Layer2 Base. Market Share: 6.73% Government Bond Product’s Market Value: $48,485,006 Management Fee: 0% Market Share Change in the Past Quarter: -0.4 percentage points Hashnote Hashnote is a regulated company under the oversight of the U.S. Commodity Futures Trading Commission (CFTC) and the Cayman Islands Monetary Authority (CIMA). It is a fully regulated, institutional-grade DeFi asset management platform, offering comprehensive service support, zero counterparty risk, and customizable risk/reward strategies to consumers. Market Share: 5.92% Government Bond Product’s Market Value: $42,613,396 Management Fee: 0% Market Share Change in the Past Quarter: +0.2 percentage points Superstate Superstate is a blockchain-based asset-management firm. It raised $14 million in venture capital to develop regulated, on-chain funds that U.S. investors can access last November. In February 2024, it debuted its first tokenized U.S. Treasury fund offering on the Ethereum blockchain. Market Share: 4.16% Government Bond Product’s Market Value: $29,985,969 Management Fee: 0.15% Market Share Change in the Past Quarter: +4.16 percentage points Open Eden Open Eden is a crypto startup established in early 2022. It was co-founded by Jeremy Ng and Eugene Ng, Gemini’s ex-Asia-Pacific head and former Head of Business Development for the region. Market Share: 3.24% Government Bond Product’s Market Value: $23,328,886 Management Fee: 0% Market Share Change in the Past Quarter: -1.12 percentage points Maple Finance Maple Finance is an institutional capital marketplace that provides credit experts with tools to run an on-chain lending business connecting institutional lenders and borrowers. It has been a market leader in private credit. In April 2023, it introduced a new cash management pool allowing non-U.S. accredited investors and entities to participate directly in U.S. Treasury investments using USDC. Market Share: 1.45% Sovereign Debt Product Market Value: $10,428,616 Management Fee: 0.5% Market Share Change in the Past Quarter: -3.23 percentage points Predicting Future Developments We believe six trends will drive the development of the tokenized government bond segment of the RWA market. These trends will transform the market landscape and provide investors with new opportunities. The tokenized government bond segment will witness a deeper integration of on-chain technology with traditional financial assets. This trend will enable more efficient asset tokenization processes and more timely synchronization of on-chain and off-chain data, significantly improving the efficiency and transparency of transactions. This will, in turn, lead to faster and more trustworthy trading experiences for investors, potentially attracting more capital into the area. Deeper Integration of On-chain and Off-chain Mechanics With increased regulatory attention around digital assets, tokenized government bond projects will be forced to strengthen their compliance. We believe more blockchain-based compliance solutions, such as those using smart contracts for compliance checks, will emerge to meet increasingly stringent regulatory requirements. This will boost investor confidence and encourage more institutions to participate in this market. Increased Compliance with Advances in RegTech Solutions Advancements in cross-chain technologies will enable seamless interoperability of tokenized government bond products on various blockchain platforms, enhancing liquidity and accessibility across the entire market. This will provide investors with more choices and flexibility and reduce market risks. Additionally, increased cross-chain interoperability will promote the convergence of international markets, creating more global investment opportunities. Increased Cross-Chain Interoperability We expect projects to introduce more customized and personalized products to meet the specific needs of different investor groups. These products will include those that precisely target an investor’s risk preference and investment objectives, enabling them to achieve their financial goals better. This movement, in general, will allow investors to have a more diversified range of investment choices. More Customized and Personalized Products Projects are expected to place greater emphasis on transparency and security, leveraging blockchain technology’s traceability and tamper-proof nature to enhance investor trust and confidence. This will attract more risk-sensitive investors to participate in the market and help mitigate market manipulation risks. Enhanced Transparency and Security The application of artificial intelligence for market analysis and predictions, as well as the generation of automated investment strategies, will be a significant innovation direction for the Sovereign Debt RWA market in the future. With these innovative developments, investors will be better informed and empowered to seize market opportunities. Integration of Cutting-Edge Financial Technologies like AI Promising Project Types Based on the above understanding, we believe the following five types of projects will be worth paying attention to. Amid more and more stringent regulatory requirements, projects that have a high level of compliance and offer high transparency are more likely to gain favor in the market. These projects will be able to establish a trustworthy reputation and attract more investors. High Compliance Projects Projects that fully leverage cutting-edge technologies such as blockchain, artificial intelligence, and big data, particularly those capable of providing efficient trading and investment strategies, are poised to secure a place in the market. These projects will bring faster and smarter investment experiences. Technology-Driven Innovative Projects Projects that boast seamless interoperability across different blockchain platforms, especially those providing a broader selection of assets with optimized liquidity, will have a clear competitive advantage. Cross-Chain Compatible Projects Platforms that are easy to use and provide comprehensive customer support and educational resources will be more popular, especially among non-professional investors. User-Friendly Platforms Projects that excel in cost control and operational efficiency, such as those offering low management fees and highly automated services, will be able to win out in the competitive market. Low-Cost, High-Efficiency Solutions In conclusion, investors are more inclined to seek higher-yield investment opportunities under a hiking Federal Reserve. The growth of the RWA market indicates that despite macroeconomic pressures, its potential for high returns has attracted a significant amount of capital. With regulatory improvements and technological advancements, we expect the tokenized government bond market to continue to grow, especially given the increasing adoption of digital currencies like stablecoins and CBDCs. That said, tokenized government bond projects may face stricter regulatory requirements in the future, particularly in anti-money laundering (AML) and Know Your Customer (KYC). As the regulatory environment becomes more stable, these projects are expected to integrate more seamlessly into the traditional financial system while providing investors with new investment channels and risk management tools. To mitigate the inherent risks associated with RWA products, we believe tokenized government bond issuers should adopt decentralized governance decision-making mechanisms, such as the DAO framework used by many issuers in the private credit category. Such mechanisms enhance transparency, allow for better risk assessment and mitigation and also help ease regulatory compliance. Also published . here

The Status Quo and Six Trends in Tokenized Government Bonds: Analyzing the Current State and Future 

স্থিতাবস্থা এবং টোকেনাইজড সরকারি বন্ডের ছয়টি প্রবণতা: বর্তমান অবস্থা এবং ভবিষ্যত বিশ্লেষণ করা

Der Status Quo und sechs Trends bei tokenisierten Staatsanleihen: Analyse des aktuellen Zustands und der Zukunft

El status quo y seis tendencias en los bonos gubernamentales tokenizados: análisis del estado actual y el futuro

Le statu quo et six tendances des obligations d'État tokenisées : analyse de l'état actuel et futur

टोकनयुक्त सरकारी बांडों में यथास्थिति और छह रुझान: वर्तमान स्थिति और भविष्य का विश्लेषण

トークン化国債の現状と6つの傾向：現状と将来を分析する

토큰화된 국채의 현황과 6가지 동향: 현황과 미래 분석

O status quo e seis tendências em títulos governamentais tokenizados: analisando o estado atual e o futuro

Статус-кво и шесть тенденций в токенизированных государственных облигациях: анализ текущего состояния и будущего

Tokenleştirilmiş Devlet Tahvillerinde Statüko ve Altı Eğilim: Mevcut Durumun ve Geleceğin Analizi

Hiện trạng và sáu xu hướng về trái phiếu chính phủ được token hóa: Phân tích hiện trạng và tương lai

代币化政府债券的现状和六大趋势：分析现状和未来

What a crazy blessing. Ending in absolute fireworks, 2023 was a year of cleansing and rebirth. After the calamities of 2022, the year started off shaky and uncertain, full of political intrigue, regulatory contortions, institutional backflips, and Gary Gensler. In spite of the ravaging negative headlines, waning retail spirits, and eerie price action throughout the year, so much fundamental progress was made that market forces couldn't resist the alluring call of a maturing giga-industry, and crypto came back to life. New projects were launched, new technologies were discovered, regulators were challenged, companies held layoffs, hackathons took place, and life-changing money was made. It would be foolish (if not impossible) to cover everything that took place in a single attempt, but ultimately, the most important takeaway is that sentiments have shifted. We have begun to thaw from a prolonged bear winter and transitioned into colloquial "Crypto Spring." To celebrate our transition and prepare ourselves for the upcoming year, let's recap some of the most notable events that took place: * These are in no specific order. Political Progress Due to its boardless, digital nature, when talking politics in crypto, the conversations must always turn global. Traditionally, countries tend to structure their legislation following the example set by America. However, the constant ambivalent, opaque, monotonous attitude of the US has pushed innovation offshore and given an opportunity for other countries, including the likes of Singapore, the UK, and the UAE, among other, to take matters into their own hands and become leaders on the regulatory front. SEC gets Humbled Losing almost (if not every) major battle of the year, most notably Ripple, the Securities and Exchange Commission has become a laughing stock, largely considered incapable of conducting its duties at protecting anything (besides the interests of insiders). Now synonymous with the sneaky, sleazy, two-faced persona of Gary Gensler, it seems that in order to regain its reputation moving forward, the agency will have to rethink its policies and pivot into a more friendly, embracing position. Tornado Cash Sanctioned by the US Department of the Treasury's Office of Foreign Assets Control (OFAC), and its founders were arrested. The privacy-preserving mixer has been deemed a threat to national security because it violates KYC/AML policies. Thus the technology has been blacklisted and banned from the US, and any crypto address interacting with it becomes an enemy of the state. LBRY Decides not to Appeal Losing its case against the SEC in 2022, in which the ruling claimed that LBC digital tokens were, in fact, securities and that the entity behind LBRY failed to register the assets as such, the project has decided not to appeal the decision. The company has gone into receivership, but the network continues to operate. It is very possible that the company's assets are acquired by another crypto company, and the infrastructure that was built out, alongside its active community, merge into something greater than ever before. NFT Projects are Met with Regulatory Enforcement NFTs continue to be an asset archetype that has not been formally defined by the legal system. Nevertheless, 2023 saw the first round of action against NFT projects, including Cool Cats and Impact Theory. Both cases have been resolved without prison time and with multi-million dollar settlements, things that will set the precedent moving forward as to what the industry can expect. Purging the Demons and Serving up Justice The froth of the last cycle brought about lasting economic impacts; scar tissue in the form of fraud, manipulation, and poor protocol design lingers in the not-to-distant memories of the market. FTX, Sam Bankman Fried, Alameda, Genesis, Gemini, BlockFi, Terra Luna, Celcius, 3AC, and the gaggle of crooks have become a sore for the industry. The exhausting mental resources allocated to discussing the issues that transpired, finding who to blame, and pointing fingers has begun to subside. A lot of cleansing has taken place, but there are still a few loose ends that need to be squared off. Crypto is much more exciting than the processes taking place in courtrooms; hopefully, we can move past this sooner than later. Binance and the SEC After settling with the SEC for over $2 Billion USD for its slew of legal infractions, Binance was forced to change its leadership and mark the end of the CZ era. From humble beginnings as a crypto-to-crypto exchange to the single largest entity for payments, trading, investments, NFTs, and everything else, Binance has become the most recognized brand around the world. Countless millions of users, hundreds of billions of dollars, and hundreds of countries; the amount of positive value that this single company brought is impossible to quantify. Introducing Generation 5 Technologies 2023 marked a year of incredible technological innovation manifesting itself in horizontal expansion (new project launches). Scalability, Interoperability, and Privacy continued to be the core tenets of new discoveries. Arriving in many form factors, including alt L1s, Optimistic rollups, ZeroKnowledge Rollups, mult-sigs, and DEFI applications, the list of new projects powered by new technological primitives, with new go-to-market mechanisms and glorious airdrop campaigns have given rise to the next generation of blockchains. (Depending on how you count or who you ask, this would be the 5th generation of public blockchain tech). Alternative Networks and Rollups SUI, SEI, Aptos, Manta Pacific, Stargaze, Kujira, Astar, Blast, the list of new blockchain-based networks is ever-expanding. Each of these networks is running some kind of action-based incentive program and attracting TVL into their ecosystems. Each chain demands its own applications, teams, communities, launch, and operational capital, but that hasn't seemed to slow anybody down. Rollups Becoming the de-facto scaling tech for EVM, Rollups have attracted the attention of some of the industry's most notable entities, including Coinbase and Binance. Proving their value by facilitating multiple times more transactions than legacy base layer ETH, it seems as though Rollups will become the interfaces for applications to conduct activity. Moreover, it seems as tho this is the tech that has caught the majority of mindshare. Interoperability A MultiChain future has only become all the more likely. Interchain operations with solutions from Cosmos's IBC, Polkadot's XCM, and, of course, LayerZero are facilitating more transfers than ever before. Bridges, including Wormhole, Orbiter, Stargate, Symbiosis, et al. are exploding in TVL. This is a trend that simply cannot, will not revert. Bitcoin Ecosystem and Inscriptions Being the oldest and largest crypto network of all, Bitcoin was for many years considered to be a somewhat stale technology that has long discovered its use case, and interest in it has peeked. Not so fast. With the introduction of smart contracts and inscriptions on Bitcoin, a new caliber of ultra-wealthy users that can now do something with the coins they have just been sitting on flooded the ecosystem. This has resulted in divisions amongst crypto maxis and brought massive transactional revenue bonuses to miners. Price action of Q4 If you like Bitcoin at $20,000; your going love it at $44,000. The apes, degens, and bulls are waking up and looking for somewhere to throw their capital in opposition to tradfi. The last quarter of 2023 brought mind-melting, eye-water gains to holders of crypto across the board. Memapaoloosa Reinvigorated internet culture is starting to do its thing. Obscure meme coins like WIF, PEPE, BONK, and COQ are posting gains north of 1000%. Even though memes do not carry inherent value and tend to enter pronounced death spirals, their presence highlights the early stages of a recovering market. If memes are popping off, then one of two things is likely: either there is excess capital in the system, or OGs are preparing for an influx of retail. Either way, even if you don't make money on the memecoins, the wealth effect will inevitably spill over into other cryptos. Solana's Rising From the Ashes Beatin into oblivion from the FTX saga, Solana has broken all mainstream beliefs and become the underdog and best performer of the year. Beyond just the token's meteoric bounce from lows around ~$8 to over $120, the ecosystem has seen an influx of new users, glorious new applications, and functional improvements to the tune of an order of magnitude. Hosting one of the tightest, most resilient communities, Solana has become a platform for realizing sophisticated real-world applications and emerging market segments such as DEPIN. After a world-class Aidrop from the Jito MEV/liquid staking protocol, a pipeline of projects primed to release their tokens through a powerful network of distribution (The Solana Mobile phone); there seems to be no more talk of its death, just questions on how to best take advantage of the technology. Spot Bitcoin ETF It would be remiss if this is not mentioned. Perhaps the single most talked about crypto event of the year, many of the world's largest institutions, including the megalodon BlackRock, have filled for a spot in Bitcoin ETF. Unlocking the gates to institutions, a Spot Bitcoin ETF is in the cards for approval in 2024. However, as it stands, these ETFs will likely still be forced to settle in cash, which is a net positive but not as fundamentally impactful as having to settle in BTC. The industry has mixed opinions on what is to be expected from this; on the one hand, there are those who want to buy into the happening, while others approach with more caution, implying it is a "sell the news" event. After the rumors began circulating and people started to front-running one another, the price responded with tremendous strength. Given the cash settlements, pent-up demand, confluence of macro events, and pre-committed capital that is already penned for inflows greater than $200,000,000 USD; the only thing that seems guaranteed is that no matter what, it is a matter of time before the instrument is live. The Narrative Cycle During the re-stabilization period, crypto was looking for narratives that would supercharge it. Throughout the year, narratives have been shuffled around from AI to RWA, to Alt L1s, Rollups, DEPIN, ETFs, and so on. Stablecoins continued to blossom; DEFI took a beating in TVL but has become much more secure, being the year with the least total amount of hacks. NFTs are starting to make waves again, arguably led by Pudgy Penguins and new Trump Card mints. An influx of new major market participants and an increase in participation from existing ones, including Google, Franklin Templeton, VanEck, and others further confirm the growth of crypto. In short, 2023 was the best time to accumulate. Those brave enough to shut out the noise and lead by investment have already been rewarded for their diamond hands. Many people are getting disappointed, thinking they have missed their chance; friends, the entire market cap of our industry is ~1.6 Trillion… The game has just begun. History may not always repeat, but damn… It sure does tend to rhyme. Excited to be on this journey with you all; I hope you have reaped the rewards of Crypto's past & that your bags are ready to grow to the future. See you all in 2024.

2023 Was the Best Time to Accumulate Crypto

2023 ক্রিপ্টো জমা করার সেরা সময় ছিল

2023 war die beste Zeit, Krypto anzuhäufen

2023 fue el mejor momento para acumular criptomonedas

2023 était le meilleur moment pour accumuler de la crypto

2023 क्रिप्टो जमा करने का सबसे अच्छा समय था

2023 年は仮想通貨を貯めるのに最適な時期だった

2023년은 암호화폐를 축적하기에 가장 좋은 시기였습니다

2023 foi o melhor momento para acumular criptografia

2023 год был лучшим временем для накопления криптовалюты

2023 Kripto Biriktirmenin En İyi Zamanıydı

Năm 2023 là thời điểm tốt nhất để tích lũy tiền điện tử

2023年是积累加密货币的最佳时机

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