SEC Chair’s Project Crypto Is “Most Bullish” Crypto Document Yet, Says Bitwise CIO

Key Points

1. Project Crypto is described as the 'most bullish' crypto document by Bitwise CIO Matt Hougan, indicating a major shift toward onchain finance.

2. Key investment opportunities highlighted include Layer 1 blockchains (e.g., Ethereum), DeFi platforms (e.g., Uniswap, Aave), and crypto-enabled super-apps.

3. Atkins' initiative aims to provide a regulatory path for broker-dealers to engage with DeFi, which has been in regulatory limbo.

4. The SEC chair emphasized the agency's commitment to fostering a thriving onshore crypto ecosystem, aligning with the President’s Working Group on Digital Assets report.

5. Hougan sees Project Crypto as a signal that DeFi platforms could unlock significant value for investors due to their growing trading volume and total value locked (TVL).