Explainers
Regulating Exotic Prediction Market Products
The most interesting prediction market contracts are the ones regulators have not clearly claimed. Here is where oversight ends and the gray zone begins.
Explainers
Explainers
Payment Finality: Onchain vs Traditional Rails
On traditional rails, a payment can look settled and still reverse days later. Onchain, finality is a property of the ledger itself. Here is what that means for a treasury reporting cash as settled.
Explainers
Onchain Cash Management for Corporate Treasury
Onchain cash management moves corporate treasury from batch cutoffs to continuous settlement. The gap that trips teams up is the challenge of proving where the money is at any moment.
Explainers
How Lending Club Priced Its 2014 IPO
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
How to Monitor Stablecoin Balances Across Chains
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
Market Intelligence Tools for Hedge Fund Trading Desks
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
Anthropic vs OpenAI IPO Odds on Polymarket
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
Stablecoin Treasury Monitoring for Finance Teams
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: The Yield-Bearing Token Backed by Treasuries
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
What Is Network Tokenization in Card Payments?
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 Valuation: $852B and Still Private
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
How to Sell Pre-IPO Shares: Tender Offers and Secondaries
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.