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š„ From crypto h8ers ā taking it over
PLUS: How tokenized carbon credits work...
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Itās Friday! Letās get it:
Crypto use case: tokenized carbon credits š
TradFi CEOsā crypto views: love or hate? āŖ
Funding Friday: Web3 companies that got money this week š°
CNBC had a funeral for Bitcoin 5 years ago šŖ
CRYPTO USE CASE OF THE WEEK š
Thereās one question that will make every crypto investor trembleā¦
What are some real-world use cases?
Suddenly, it feels like the final level of āWho Wants To Be A Millionaireā. You start sweating in places youāve never sweat before.

Well - have no fear, the Milk Man is here.
With the weekend coming up (AKA primetime crypto debate time), we figured itād be a good idea to give you some ammo just in case you get asked the million-bitcoin question.
And check it out, we just found a cool database of use cases. Itās called The Value Prop.
Hereās one cool use case we came across:
TOKENIZED CARBON CREDITS
I wonāt lie to you, we arenāt environmentalists and had no idea what carbon credits actually were so we did a little researchā¦ hereās how I'd explain it to a first-grader:
Global warming is getting bad. (Real bad, Michael Jackson).
The good thing: There are a ton of smart people out there building solutions to try to save us.
The bad thing: The smart people trying to save the world donāt get much funding.
So in order to solve this, a carbon credits market was created. This is how it works:
Every time a project successfully removes 1 ton of carbon from the atmosphere, they get 1 carbon credit.
These carbon credits are then sold to individual companies.
The companies buy carbon credits to reduce their carbon footprint and meet regulatory requirements.
Companies try to buy 1 carbon credit for every 1 ton of C02 they create from factories, trucks, etc. (Itās an āoffsetā).
But thereās another issue: these transactions are slow and mostly done over the counter.
Thatās where the blockchain comes in. By tokenizing the carbon credits and putting them on a blockchain, it makes the market more transparent, liquid, and accessible.
Big corporations get to say theyāre net-zero and the environmental projects get some funding. Itās a win-win. Gold stars all around.

Here are a few companies that are doing this today:
Nori
KlimaDAO
Coorest
Andes
Crypto gets a ton of hate for hurting the environment, so it's good to see a few projects all tackling environmental problems here.
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You sign up and invest in the Roots fund
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Get started today with $100 (and no entry fees) in just 5 minutes.

MEMORY LANE: TRADFI CEOSā VIEWS ON CRYPTO āŖ
Looking back on TradFi CEOās comments on crypto can feel like looking back at your old Facebook posts.
Song lyrics, music quotesā¦ Sh*tās embarrassing.
But itās fun. Which is why weāre about to āFacebook stalkā CEOs of the TradFi giants that are jumping into crypto right now.
And look at all the crypto hate (and love!) they spouted back in the day.
Letās dive inā¦
Larry Fink, BlackRock CEO

How it started:
Said āBitcoin just shows you how much demand for money laundering there is"
"Bitcoin is an index for money laundering - that's all it is."
And in 2018, said none of the companyās clients were interested in buying crypto
How it's going:
Said in late 2022 that tokenization is the ānext generation for marketsā
BlackRock applied for a Bitcoin ETF this week that would allow its customers to invest in Bitcoin.
Milk Road H8er Meter: 11/10
Ken Griffin, Founder of Citadel

How it started:
Called crypto a āJihadist call" against the dollar and that he āwished young people would use that energy to make the US dollar stronger insteadā
Said people who own crypto are "stupid"
How it's going:
Called crypto one of the greatest finance stories over the last 15 years
His company co-launched a new crypto exchange this week (w/ Fidelity & Charles Schwab)
Milk Road H8er Meter: 12/10
Walt Bettinger, CEO of Charles Schwab
How it started:
In 2021, said was looking ācautiouslyā and ācloselyā at the crypto market
Was waiting for regulatory clarity. If it came, the company would ābe a player in the spaceā & ādisruptiveā
How itās going:
Co-launched a new crypto exchange this week
Milk Road H8er Meter: 3/10
Now for the one on this list thatās actually been bullish for ~a decadeā¦
Abigail Johnson, CEO of Fidelity

Itās like that only friend in the group whoās been saying aliens were real and no one believed them. Until UFOs started landing everywhere.
She:
Is a big digital asset advocate
Has mined ~200K satoshis
Oversaw a small mining operation launched within Fidelity that makes it a lot of money
Led Fidelity as 1 of 3 companies that launched a new crypto exchange. Itās also rumored to apply for a Bitcoin ETFā¦
Milk Road H8er Meter: 0/10
Milk Road Take: Youāre not entirely defined by that Evanescence song lyric you posted on Facebook in 2012.
Just like these execs and their companies arenāt entirely defined by the smack theyāve talked about crypto in the past.
Once a h8er ā always a h8er.

FUNDING FRIDAY š°
Itās Funding Friday! This week, ~$38M was raised by crypto companies.
Hereās who secured the money:
Kaito got $5.5M to build an AI-powered search engine for crypto. There are more AI crossovers than in the NBA during the early 2000s. If you know, you know.
TaxNodes got $1.6M to create crypto tax and accounting solutions. Crypto taxes made easy.
TapiocaDAO got $6M to develop a multi-chain money market. Users can borrow, lend, and leverage up across 20+ different blockchains.
Check out the full database of companies that have raised money this week, right here.

MILK & COOKIES šŖ
Five years ago, CNBC said it was having a funeral for Bitcoin. BTC was $6,027 at the time - now itās at $30K+.
Microstrategy turned profitable yesterday with its $4B in Bitcoin. Michael Saylorās company is in the green with BTC higher than Microstrategyās average purchase price of $29,803.
Pepe (memecoin) came back to life and jumped 35% in one day. Bitcoinās rally & major accumulation is behind the rise.
Binance is being investigated in Brazil over pyramid scheme allegations. Parliament will decide soon if Binance Brazilās chief will testify.

MILKY MEMES š¤£



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happy Friday, Roaders
ā Milk Road Images (@MilkRoadImages)
1:14 PM ā¢ Jun 23, 2023
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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