The new crypto debate: Monolithic distribution vs. modular tech
2025-07-01 22:40:56
Main Idea
The article discusses the importance of distribution in the crypto business, comparing it to Google's early strategies, and suggests that crypto could become a winner-takes-most industry, with Robinhood's recent moves as a potential example.
Key Points
1. Google's success was driven by its focus on distribution, such as the AOL deal and the toolbar strategy, which expanded its user base.
2. Robinhood is adopting a similar strategy by offering tokenized stocks and a 2% match on crypto deposits, aiming to dominate through distribution.
3. The article references Robert Baratheon's quote from 'Game of Thrones' to illustrate the power of a unified approach over fragmented efforts.
4. Robinhood is building an Ethereum layer-2 blockchain for tokenized stock trading, while tokenized 'xStocks' are also trading on Solana, highlighting competing approaches in the crypto space.
5. The article suggests that distribution could be the key factor in determining the winners in the crypto industry, potentially leading to a winner-takes-most outcome.
Description
Crypto is a business — and it might be winner-takes-most
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