Gold is considered a tactical long-term asset, but Bitcoin is currently undervalued. ReSolve Asset Management's portfolio manager, Richard Latimer, notes that gold's current price consolidation is expected after its early-year…
Hedge funds are increasingly adopting new digital currencies, primarily stablecoins, due to enhanced capital efficiency, regulatory clarity, and new yield-generating strategies. 1| Capital Efficiency Unlike traditional prime brokerage where collateral…
The GENIUS Act mandates stablecoin issuers to hold 100% reserves in cash or T-bills with maturity ≤ 93 days. This creates a mechanical demand for T-bills, making them the collateral…
1.1 Minimum Effective Tax Rate of 15% and calculation of the top-up tax
Pillar Two of the OECD framework on international tax reform introduces a minimum effective tax rate of…
1.1 Replicating Carbon Price Exposure Without Physical Holding of Credits
Synthetic tokens offer exposure to carbon credit prices without requiring the physical holding of the underlying credits, by using derivative…
The original Triffin Dilemma (Bretton Woods I) pitted the issuance of international liquidity (USD) against the necessary convertibility into gold, creating a tension between domestic objectives (avoiding inflation) and international…
Oil reserves are rapidly depleting, eroding the world's crucial buffer against supply shocks. A concerning JP Morgan chart, discussed by David Russell of GoldCore and featured in Bloomberg, illustrates the…
1.1 Collective Structuring and Pooling of Heterogeneous Quality Carbon Credits
Pool tokens represent a stake in a collective portfolio of carbon credits with heterogeneous characteristics, structured as a mutual fund…
We are not in a classic crypto cycle; we are witnessing the commoditization of the settlement layer. Bretton Woods I (1944) used a gold-pegged dollar settled via correspondent banks (SWIFT/CHIPS).…
1.1 Direct Ownership Tokens
1.1.1 On-chain Representation of Carbon Credits Held in Custody by the Investor
Direct ownership tokens constitute the most fundamental form of carbon credit tokenization, representing a…