A Wimbledon crypto example

plus: the China drumbeat gets louder, tariffs get crazier, BTC climbs, and more

“Sometimes it's better to light a flamethrower than curse the darkness.” – Terry Pratchett ||

Hi all, and happy Friday!!!! I hope you have glorious things planned for the weekend, because the crypto industry has things to celebrate…

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IN THIS NEWSLETTER:

• A Wimbledon crypto example

• The China crypto drumbeat gets louder

• Macro-Crypto Bits: BTC on a tear, tariffs again ho hum

If you’re not a premium subscriber, I hope you’ll consider becoming one! You get ~daily commentary on markets, tokenization, regulation and other signs that crypto IS impacting the macro landscape. As well as relevant links and music recommendations ‘cos why not.

WHAT I’M WATCHING:

Fine, but it is new?

With the Wimbledon final this weekend (c’mon Alcaraz!), I want to talk about utility tokens that are also securities. Or rather, I want to show that they are not as new a concept as many think.

(image via people.com)

Let’s take a look at Wimbledon debentures.

First, some history. The Championship dates back to 1877, and for its first 45 years, was held at grounds in central Wimbledon that rapidly became too small. Ticket sales did not stretch far, and with no convenient line of bank financing available, the All England Lawn Tennis Club (AELTC) needed to come up with a way to fund an expansion.