DATs, Stablecoin Wars, and Corporate Chains | Roundup

In this week’s Roundup, the Bell Curve crew reunites after six weeks to break down the ongoing evolution of digital asset treasury (DAT) companies, the shifting stablecoin landscape with HyperLiquid’s USDH, the debut of Stripe-backed Tempo and the broader “corporate chain” debate, and much more. Thanks for tuning in! -- Katana directs chain revenue back to DeFi users for consistently higher yields. It starts with VaultBridge, which turns bridged assets into yield streams that back a perpetually funded real yield, boosting rewards for DeFi users. Katana is pioneering Productive TVL, assets actually being used in DeFi and reinforces this with Chain-owned Liquidity, permanent liquidity the chain controls. Stop sleeping on your bags: https://app.katana.network/?utm_source=BW-Pod   -- Follow Michael: https://x.com/im_manderson   Follow Vance: https://x.com/pythianism   Follow Mike: https://x.com/MikeIppolito_   Subscribe on YouTube: ⁠https://bit.ly/3R1D1D9⁠  Subscribe on Apple: ⁠https://apple.co/3pQTfmD ⁠ Subscribe on Spotify: ⁠https://spoti.fi/3cpKZXH⁠  Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: ⁠https://blockworks.co/newsletter/ ⁠ Join the Bell Curve Telegram group: ⁠https://t.me/+nzyxAvQ0Xxc3YTEx ⁠ -- Timestamps: (0:00) We’re Back! (1:48) Is the DAT Trade Over? (9:44) Token Launch Experimentation (11:33) Generating Real Yield (15:10) Solana DATs (17:42) Katana Ad (18:11) Rebuilding Around Stablecoins (21:08) Why Are We Tokenizing? (22:24) Hyperliquid & USDH (30:56) Regulation & Market Structure (33:46) Katana Ad (34:23) Where Are We in the Cycles? (36:40) Compliance & Regulatory Clarity (41:03) Crypto’s (d)Evolution (44:45) Tempo & Corporate Chains (59:39) Spiritual Bear Market? (1:01:15) The World is Weird (1:03:35) AI Bubble (1:05:49) Base Teasing Token Launch (1:08:13) Rate Cuts & DeFi Supercycle -- Disclaimer: Nothing said on Bell Curve is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Mike, Jason, Michael, Vance and our guests may hold positions in the companies, funds, or projects discussed, and our guests may hold positions in the companies, funds, or projects discussed.