Explainers
Lending Club's 2014 IPO priced above its raised range, a signal of investor appetite for consumer lending marketplaces. Here is how IPO pricing works, and why the number is a negotiation rather than a fact.
Explainers
Tracking a stablecoin's balance on one chain is easy. Tracking it across every chain it lives on, without double-counting bridged supply, is where most monitoring breaks.
Explainers
A working guide to the data feeds behind institutional trading desks, why traditional market intelligence goes dark at exactly the wrong moments, and how public blockchain records change the picture.
Explainers
The two AI labs everyone lumps together are priced completely differently on prediction markets. Anthropic reads as near-certain to list; OpenAI barely registers for 2026. Here is why.
Explainers
Corporate treasurers who hold stablecoins face a reconciliation problem no bank statement solves. Here is how onchain monitoring works, and what breaks when you skip it.
Explainers
USDY pays holders the yield on short-term US Treasuries while moving like a stablecoin onchain. Here is how the token is structured, who can use it, and why the design matters.
Explainers
Network tokenization is the payment-card security method behind Apple Pay and one-click checkout. It is a different thing from the asset tokenization that puts stocks and bonds onchain.
Explainers
OpenAI is worth $852 billion on paper, yet you cannot buy a share of it. Here is how a private company gets a valuation, why the widely-quoted $500 billion figure is stale, and what a 2027 listing would change.
Explainers
Selling shares in a company that has not gone public is legal but constrained. Here are the real routes, who can use them, and the frictions that decide whether a sale ever closes.
Explainers
AP2 is Google's Agent Payments Protocol, a standard that lets AI agents make purchases with cryptographic proof that you authorized them. The core innovation is the signed mandate.
Explainers
USYC turns a short-term Treasury yield product into an onchain token that can settle and move as collateral in seconds. Here is how it works and why the collateral use case matters more than the yield.
Explainers
Kalshi's valuation swings on regulatory outcomes and volume growth, not just fee revenue. Here is how a federally regulated prediction market gets priced, and why the number is contested.