Institutional Adoption in Crypto: From Narrative to Reality | Roundup

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Mar 28, 2025

The podcast delves into the rise of stablecoins and their transformative effects on institutional finance. It discusses new entrants in the stablecoin market and the changing dynamics of venture capital. Insights into market manipulation are highlighted, particularly involving Hyperliquid. The conversation also covers the complexities between decentralized and centralized exchanges, alongside challenges in private equity and M&A activities in crypto. Overall, it unpacks the urgent need for innovation and transparency in this rapidly evolving landscape.

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INSIGHT

RWAs and L1 Tokens

On-chain real-world assets (RWAs) like stablecoins could benefit L1 tokens such as Ethereum.
This is due to increased fees and potential competition with ETH as the primary on-chain currency.

INSIGHT

Tokenization's Growth Potential

Tokenization of assets offers a new growth vector for traditional finance, as seen with the Biddle Grand Prix.
DAOs with significant capital, primarily stablecoins, will likely drive this tokenization wave on Ethereum.

INSIGHT

On-Chain Collateral Advantages

Tokenizing collateral on-chain offers benefits like looping and collateralization within DeFi.
It allows for auditable verification and streamlines treasury management within the DAO ecosystem.

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In this episode, we dive into the institutional adoption of crypto, stablecoin innovation, the implications of the GENIUS Act, and recent market drama involving Hyperliquid. We also explore the tough state of venture capital, and M&A activity in crypto.

Thanks for tuning in!

Resources

Hyperliquid’s Resolution: https://x.com/HyperliquidX/status/1905319339991204263

Namada is the shielded asset hub rewarding you to protect the multichain. Enabling data protection for any existing asset, app, or chain, Namada introduces shielded cross-chain actions and rewards for shielding your assets, which strengthens data protection guarantees for everyone.

Namada is currently entering phase 3 of its mainnet launch — follow along on https://namada.net/

Marinade is the premier staking delegation platform on Solana, bringing billions in liquidity and security to the Solana network, and connecting SOL holders to the best staking rates.

Since launching in 2021, Marinade has expanded their suite of products to provide solutions for both DeFi users and TradFi, including liquid and native staking, as well as direct enterprise integrations.

To learn more about Marinade, follow the link below: https://marinade.finance/?utm_source=blockworks&utm_medium=partnerships&utm_campaign=podcast

Traders, AI enthusiasts, and degens—listen up! The game is changing, and DESK is leading the charge. Welcome to the next generation of perpetual trading—where cutting-edge technology meets AI-driven automation.

Trade today at https://desk.exchange/?register-channel=BWpodcast and follow @TradeOnDESK on X!

Morpho is a permissionless lending platform that allows anyone to earn yield and borrow assets on your terms.

Its flexible, trustless infrastructure also empowers developers and businesses to build and tailor their own financial products.

Whether you're an individual, fund, fintech, or institution, Morpho is for you.

Try Morpho today: https://app.morpho.org/?network=mainnet&spdl=99nsk9

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Tickets: https://blockworks.co/event/permissionless-iv

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Timestamps:

(0:00) Introduction

(2:10) Takeaways From DAS NYC

(4:25) Getting Exposure to Stablecoin & RWA Growth

(12:03) Ads (Namada & Marinade)

(12:34) Institutional Stablecoin Announcements

(21:09) The GENIUS Act

(28:57) Ads (Namada & Marinade)

(30:11) Hyperliquid Drama

(46:34) Ads (Desk & Morpho)

(47:29) Private Equity Lobbying to be Included in 401ks

(52:11) M&A in Crypto and the State of Venture Capital

(1:10:01) Justin Sun on the Cover of Forbes

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.