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šŸ„› From crypto h8ers ā†’ taking it over

PLUS: How tokenized carbon credits work...

Today's edition is brought to you by Roots - the first real estate portfolio that creates wealth for both its investors and its residents.

GM. This is Milk Road, your crypto Pop Rocks. Experience the explosive sensation of profitable opportunities popping up in your portfolio.

Itā€™s Friday! Letā€™s get it:

  • Crypto use case: tokenized carbon credits šŸ‘€

  • TradFi CEOsā€™ crypto views: love or hate? āŖ

  • Funding Friday: Web3 companies that got money this week šŸ’°

  • CNBC had a funeral for Bitcoin 5 years ago šŸŖ

Prices as of 9:20 AM ET.

CRYPTO USE CASE OF THE WEEK šŸ‘€

Thereā€™s one question that will make every crypto investor trembleā€¦

What are some real-world use cases?

Suddenly, it feels like the final level of ā€œWho Wants To Be A Millionaireā€. You start sweating in places youā€™ve never sweat before.

Well - have no fear, the Milk Man is here.

With the weekend coming up (AKA primetime crypto debate time), we figured itā€™d 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. Itā€™s called The Value Prop.

Hereā€™s one cool use case we came across:

TOKENIZED CARBON CREDITS

I wonā€™t lie to you, we arenā€™t environmentalists and had no idea what carbon credits actually were so we did a little researchā€¦ hereā€™s 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 donā€™t 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. (Itā€™s an ā€œoffsetā€).

But thereā€™s another issue: these transactions are slow and mostly done over the counter.

Thatā€™s 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 theyā€™re net-zero and the environmental projects get some funding. Itā€™s 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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  • Those Residents get invested for being good tenants leading to fewer vacancies, lower turn costs, and better returns for you

And the model is working. The fund has grown 32% in 2 years and over $12.5 million has been invested so far.

Get started today with $100 (and no entry fees) in just 5 minutes.

MEMORY LANE: TRADFI CEOSā€™ VIEWS ON CRYPTO āŖ

Looking back on TradFi CEOā€™s comments on crypto can feel like looking back at your old Facebook posts.

Song lyrics, music quotesā€¦ Sh*tā€™s embarrassing.

But itā€™s fun. Which is why weā€™re about to ā€œFacebook 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.

Letā€™s dive inā€¦

Larry Fink, BlackRock CEO

How it started: 

  • Said ā€œBitcoin 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 companyā€™s clients were interested in buying crypto

How it's going:

  • Said in late 2022 that tokenization is the ā€œnext 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 ā€œJihadist call" against the dollar and that he ā€œwished 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 ā€œcautiouslyā€ and ā€œcloselyā€ at the crypto market

  • Was waiting for regulatory clarity. If it came, the company would ā€œbe a player in the spaceā€ & ā€œdisruptiveā€

How itā€™s going:

  • Co-launched a new crypto exchange this week

Milk Road H8er Meter: 3/10

Now for the one on this list thatā€™s actually been bullish for ~a decadeā€¦

Abigail Johnson, CEO of Fidelity

Itā€™s like that only friend in the group whoā€™s 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. Itā€™s also rumored to apply for a Bitcoin ETFā€¦

Milk Road H8er Meter: 0/10

Milk Road Take: Youā€™re not entirely defined by that Evanescence song lyric you posted on Facebook in 2012.

Just like these execs and their companies arenā€™t entirely defined by the smack theyā€™ve talked about crypto in the past.

Once a h8er ā‰  always a h8er.

FUNDING FRIDAY šŸ’°

Itā€™s Funding Friday! This week, ~$38M was raised by crypto companies.

Hereā€™s 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 šŸŖ

Five years ago, CNBC said it was having a funeral for Bitcoin. BTC was $6,027 at the time - now itā€™s at $30K+.

Microstrategy turned profitable yesterday with its $4B in Bitcoin. Michael Saylorā€™s company is in the green with BTC higher than Microstrategyā€™s average purchase price of $29,803.

Pepe (memecoin) came back to life and jumped 35% in one day. Bitcoinā€™s rally & major accumulation is behind the rise.

Binance is being investigated in Brazil over pyramid scheme allegations. Parliament will decide soon if Binance Brazilā€™s chief will testify.

MILKY MEMES šŸ¤£

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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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