Michael Carrier

tokenization might be eating the world, but we'll only realize its full benefits when the 'illliquidity' issue is fixed it requires 24/7 instant settlement and deep liquid markets to swap tokenized assets (RWAs) and tokenized money (stablecoins) at any time seamlessly Will Beeson, CFA is building Multiliquid by Uniform Labs to make this a reality

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I’ve known David Meister for years and backed him at Sydecar, so I’ve seen his ability to build through complexity. Axiom Trust is taking on one of the most outdated parts of wealth infrastructure, trust administration, by pairing a regulated trust company with AI-native workflows. We're proud to invest again and congrats to the team on the launch!

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The Senate Banking Committee votes Thursday on killing stablecoin yield. And they might kill the Clartiy Act with it - the 𝘮𝘰𝘴𝘵 𝘪𝘮𝘱𝘰𝘳𝘵𝘢𝘯𝘵 US digital asset legislation. This vote isn’t really about “consumer protection.” It’s about who captures the spread on money. Stablecoins exposed how fragile the zero-yield deposit model is. Paying users market rates threatens legacy bank margins — and suddenly it’s a systemic risk. The irony is striking: China is adding yield to the digital yuan while the U.S. debates banning it. One side is modernizing money; the other risks freezing innovation through protectionism. If the Clarity Act collapses, the real loss won’t be 4.5% yield — it will be regulatory certainty and U.S. leadership in digital finance.

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🚀 Secondaries Are the New Frontier of Liquidity TL;DR The U.S. VC secondary market hit $61.1B in annual deal volume in Q2 2025. With IPO timelines stretching 12–15+ years, secondaries are no longer a side market they are becoming the backbone of venture liquidity. 💡 The Opportunity Unicorns are staying private longer, creating unprecedented demand for alternative liquidity. Secondaries offer access to elite late-stage companies while providing liquidity for employees and early investors. The infrastructure is catching up fast: SPVs, tender offers, and secondary trading platforms are building the pipes for a new era of private-market liquidity. ❓ Why This Matters For decades, IPOs defined venture capital’s big win. But today: IPOs are fewer, later, and concentrated in only a handful of sectors. Secondary trading channels are stepping in as the bridge repricing assets, creating transparency, and allowing institutions to participate earlier. What was once opaque and gated is now becoming structured, scalable, and investable. 💰 Implications for LPs & GPs LPs: Secondaries are evolving into a strategic allocation, providing earlier exposure to winners, portfolio diversification, and quicker liquidity. GPs: Partnering with platforms and structuring liquidity events is no longer optional it is a competitive edge for retaining talent and managing cap tables. 🌇 The Future of IPOs & Secondaries Secondaries aren’t replacing IPOs they are reshaping the path to liquidity. As trading channels mature and scale, secondaries will become a permanent, institutionalized asset class, redefining how private markets deliver returns. At Inspire Global Ventures, we believe companies building the infrastructure for this market will be some of the most important enablers of the next decade of venture investing. 👉 Come join Inspire Global Ventures at #SFTechWeek, where we’ll be diving deeper into the rise of secondaries and the tokenization of private assets two trends transforming the future of capital markets. 🔗 https://lnkd.in/ge-XB8bd #VentureCapital #LiquiditySolutions #PrivateMarketInvesting #SecondaryMarketTrends #InvestmentOpportunities #FinancialInnovation #FutureOfFinance #TechWeek2025 #AssetTokenization #InstitutionalInvestors #Secondaries #IPOs #VentureInvesting #LP #GP #Tokenization #SFTechWeek

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Profound move from SEC commissioner Hester Peirce. Tokenization of IPOs, stocks, assets and companies is coming. This will allow for a more natural further transformation of them into Bittensor subnets. 👌🏼 https://lnkd.in/gPm7zDw8

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Institutional players require performant infrastructure and intelligence to build, run, grow and monitor their business with tokenized assets!

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Hot take: lot's of #LP's are growing underwhelmed with traditional venture investing. 💰 Fees are high given the level of engagement with the company operators. ❓ Access is opaque - LP's are unclear on the portco operations and outcomes. Outcomes are scattered - power law investing can certainly work, but many feel that venture capital investing is just a numbers game. There's another way. I'm biased, but I think it's better: #VentureStudios as an asset class. They blend: 🤜 🤛 Control and ownership 💡 Thematic focus 👬 Partnership with operators Studios offer a fund-like structure — but with more alignment, higher value conversion and less noise. If you're interested in understanding more about the studio model, we have resources to share. Please reach out and let's connect!

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DTCC is tokenizing U.S. Treasuries, and this is bigger than it sounds. The Depository Trust & Clearing Corporation, the entity that settles virtually all U.S. securities transactions is partnering with Digital Asset to tokenize U.S. Treasuries on the Canton Network. Pilot launches in 2026, with SEC already issued the No-Action Letter. DTCC isn't a crypto startup experimenting with tokenization. It's the backbone of traditional finance infrastructure, processing over $2 quadrillion in securities annually. When DTCC moves, the entire market pays attention. The goal: mint DTC custodied U.S. Treasury securities onchain and enable near real time exchange with stablecoins and other digital assets. Think about what this unlocks. Today, collateral movement is slow. Treasuries used as collateral in one market can't easily move to another. Settlement takes time, and capital sits idle. Tokenized Treasuries change that equation. They can be transferred in minutes, not days. They can interact directly with stablecoins. They can serve as collateral across traditional and digital markets simultaneously. For market makers, hedge funds, and institutional players, this means improved capital efficiency, reduced operational risk, and better balance sheet management. The strategic framing from DTCC is worth noting. CEO Frank La Salla described this as building "digital infrastructure that seamlessly bridges the traditional and digital financial ecosystems." Starting with Treasuries, but expanding to broader DTC eligible assets based on demand. This is the pattern playing out across institutional finance: not replacing traditional infrastructure, but extending it onto blockchain rails where it makes operational sense. The stablecoin connection is particularly interesting. Tokenized Treasuries exchangeable in near real time with stablecoins creates a bridge between the safest traditional asset and the fastest digital settlement layer. TradFi and DeFi are converging. The question is no longer whether, it's how fast. #stablecoins #payments #dtcc #regulation https://lnkd.in/gRHVp4bS

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Today we’re introducing PCP: the Programmable Credit Protocol. A new institutional credit rail that allows financial institutions to request, receive, and enforce bilateral credit directly inside custody, without moving collateral, without bespoke legal negotiation, and with full regulatory alignment. Tokenization has unlocked settlement efficiency. PCP brings credit utility to these assets. Built with custodians, asset managers, and lenders, PCP standardizes: • Pre-loan negotiation via FIX (RFQ & pricing) • Custodian-enforced pledging, settlement & lifecycle events • Legal enforceability via a standardized & tested Securities Lending agreement, from ISLA. This unlocks compliant, scalable financing for tokenized MMFs, stocks, bonds, BTC/ETH, RWAs, and other digital & tokenized assets. After a successful pilot, we're now welcoming custodians, asset managers, banks, Lending desks and other institutions to join the waitlist and help shape the future of Credit for Programmable assets ! Thanks to everyone that made this happen ! Zodia Custody, Sahil Sood , Sophie Kazemi , Zane Suren 🚀, Franklin Templeton, Rafael Mastroberardino, Nate Pola, Avalanche Ava Labs , Maia Zennie Khalid Dannish , Oasis , William Wendt, Robert Brienza, Mark Kalin, M. Sc. CMS, Matthew Nyman, SemiLiquid Labs, PCP , Humayun Javed, Quentin H. Farzan Saqib, Muhammad Husnain, Muhammad Tayyab Ashraf, Maryam Noor, M11 Funds , Thibault Labidi , Logan Lim , Geoff McAlister , Stephen Whyman, Patrick McIntyre, Veris Ventures, Michael Tan, Mark Vere Read the full announcement here: https://lnkd.in/ednuzFtw Website: https://pcp.co

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🚀 Tether enters the U.S. with a new stablecoin USAT Tether issuer of USDT is set to launch USAT a dollar backed stablecoin designed for the U.S. market by year end 👉 Led by former White House crypto council exec Bo Hines USAT will target institutional payments & interbank settlements 👉 This move aligns with recent U.S. stablecoin legislation and could signal Tether’s push for stronger compliance and trust Why it matters USAT could reshape how banks and institutions use stablecoins for cross border payments and settlements if Tether delivers on transparency and regulatory standards Do you see USAT becoming a trusted choice for U.S. institutions #Stablecoins #Crypto #DeFi #Fintech #Tether #Blockchain

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🚀 Thrilled to celebrate Astronomer’s new $93 M Series D! 🚀 Huge congrats to Andy Byron and the entire Astronomer team on its $93 million Series  D led by Bain Capital Ventures.  This round really underscores the growing demand for unified DataOps platforms that are able to orchestrate, observe, and optimize data pipelines at enterprise scale — all on the open‑source backbone of Apache Airflow.  Back in 2017, Grand Ventures had the privilege of leading Astronomer’s seed round, betting early on their vision on modern data orchestration. Watching the Astronomer evolve from a nimble Airflow‑as‑a‑Service startup to today’s end‑to‑end DataOps platform powering 700+ enterprises has been nothing short of inspiring. What stands out from this raise: * Orchestration is king for AI infrastructure — Astronomer’s Astro platform now layers lineage, quality, dbt workflows, and cost optimization directly into Airflow, giving data teams the control plane they need for modern AI workloads.  * Astronomer is a shining example of how to successfully build on a open‑source foundation while also adding enterprise polish — by doubling down on the Airflow community, Astronomer drives innovation upstream while delivering the reliability Fortune 500s demand. To the Astronomer crew: thank you for proving that Midwest‑rooted startups can reshape the modern data stack. We’re honored to back you on this journey to make every company an Astro‑powered AI company. 🌟 If you’re building the next game‑changing #OSS platform in #DataOps, #DevOps, #DevTools, or #AIInfrastructure, let’s talk — Grand is actively investing.

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