Why GSR is expanding now

Xin is the Group CEO of GSR Markets, one of crypto's oldest market-making firms - bootstrapped with $20K over twelve years ago and still independently funded today. 

In this episode, he breaks down why crypto's market structure is fundamentally broken, how misaligned incentives are holding the industry back, and why GSR is transforming into crypto's first full-service investment bank modeled after Goldman Sachs. 

THE SHIFT NEWSLETTER

💡Go beyond the mic - subscribe to The Shift, my new weekly newsletter where I share the uncut stories, raw takes, and behind-the-scenes notes from When Shift Happens: https://www.kevinfollonier.com/crypto-web3-newsletter

___________

PARTNERS

🚀 Jupiter is the most used Decentralized Exchange in Crypto and the largest DEX by volume on Solana: https://jup.ag/

💳 KAST lets you manage and spend stablecoins or crypto with a Visa Card or Apple Pay. Live in 100+ countries: https://go.kast.xyz/VqVO/SHIFT

🔓 Trezor offers the safest cold-storage wallets for crypto and true financial independence.

 Buy with 10% off (promo code in video): https://trezor.io/?transaction_id=102...

🌱 Bitwise Asset Management manages $15B+ across 30+ crypto investment products — ETFs, index funds, alpha, staking, and more. https://bitwiseinvestments.com/

🔒Sumsub is the leading full-cycle verification platform for the crypto industry, chosen by 8 out of 10 of the world’s largest exchanges. From instant KYC and KYB to automated crypto transaction monitoring, they help VASPs, exchanges, and DeFi platforms prevent fraud, stay compliant, and scale globally. https://sumsub.com/

💧 Sui is a next-gen Layer 1 making digital asset ownership fast, private, and secure.

 https://sui.io/

♾️ Coinsilium provides vital funding and expert advice to Web3 and AI-powered early-stage technology companies. 

https://www.coinsilium.com

___________

Follow Xin Song

• Twitter: https://x.com/xinsong86

• Twitter: https://x.com/gsr_io

• Website: https://www.gsr.io/

FOLLOW WHEN SHIFT HAPPENS

Twitter (X): https://x.com/KevinWSHPod  

Instagram:  https://www.instagram.com/kevinfollonier_ 

TikTok: https://www.tiktok.com/@kevinfollonier_

Linkedin: https://www.linkedin.com/in/kevinfollonier/

Website: https://kevinfollonier.com/

DISCLAIMER

The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.

0:00 Introduction1:32 Please Subscribe

2:02 Sleep & Age Banter

3:15 Advantage Of Age & Maturity

7:33 Who Is Xin Song?

9:23 What Did You Learn From Your Parents

12:47 Partnerships: @JupiterExchange @KASTxyz

13:27 What’s Happening With Crypto Right Now Considering The Market

16:12 What Broken Market Structure Means

19:18 Why Crypto Companies Shouldn’t Be Competing With Each Other

21:27 What Shocks You That People Don’t Understand With Crypto vs TradFi

26:42 What’s The Incentive To Make These Changes

28:41 GSR Explained To Your Mom

32:51 Partnerships: @Ethena @sumsub

33:53 Why Do Market Makers In Crypto Have Bad Reputations

36:48 How To Fix The Crypto Market Makers Reputation

40:09 What Does It Mean That GSR Wants To Become The Goldman Sachs Of Crypto

42:05 Example: Goldman Sachs Worked With Coca Cola & How GSR Reflects That In The Web 3 World

44:50 Why Is It Necessary For GSR To Become The Goldman Sachs Of Web 3

48:34 You Made 2 Major Acquisitions, Why?

51:49 Partnerships: @Trezor @BitwiseInvest @SuiNetwork

52:45 Why Is Now The Best Moment For Focusing On Tokenization

56:24 What Must Happen For 10% Of $300 Trillion To Be On Chain

59:20 Katana Explained Simply

1:12:18 Closing Thoughts