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Allium Team

Allium Team

07 Nov 2024
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Anduril's Pre-IPO Valuation: What the Numbers Mean

Anduril's Pre-IPO Valuation: What the Numbers Mean

Anduril was marked at $61 billion in May 2026 and is reportedly in talks for more. Here is what the valuation reflects, why reported marks differ, and why a tokenized version trading on a blockchain is not the same number.

By Alex Nin 14 Oct 2026
Tether (USDT): How the Largest Stablecoin Works

Tether (USDT): How the Largest Stablecoin Works

USDT is the largest stablecoin in circulation by a wide margin. Here is how the Tether stablecoin is structured, what backs it, and why the way you count its supply changes the number you report.

By Alex Nin 14 Oct 2026
Figma's IPO Valuation: $19.3B at Pricing, $68B at Close

Figma's IPO Valuation: $19.3B at Pricing, $68B at Close

Figma priced at a $19.3B valuation on July 30, 2025, then more than tripled on its first trading day. The gap between the two numbers is the story.

By Alex Nin 13 Oct 2026
How Big Is the Prediction Market Industry?

How Big Is the Prediction Market Industry?

Prediction markets let people trade contracts that pay out based on whether an event happens. Sizing the industry is harder than it looks, and the reason tells you something about how these markets actually behave.

By Alex Nin 13 Oct 2026

The Onchain Query by Allium

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