21st November 2025 > > Mark Yusko, tokenisation, & ONDO.
- Mark Timmis
- 9 minutes ago
- 3 min read
tl;dr
Fears of an A.I. bubble are increasing. Mark Yusko knows his onions. The tokenisation revolution is about to explode within the EU, suggesting a new investment for the CC Treasury reserves.
Market Snap
Market Wrap
Nvidia reported better results than expected and it raised future guidance. An initial and very brief relief rally for stocks and cryptos quickly reversed taking the markets by surprise. If there is an AI bubble then Nvidia’s results suggest that those companies investing in A.I. – largely the tech stocks – do not yet recognise it themselves. Comparisons are being drawn with the dotcom crash but there is one significant difference – dotcom companies were burning cash without a proven business model. The tech stocks are widely profitable helping to support their AI investments. That doesn’t mean we can’t go lower from here, but contrarians will be looking for cheap entry points into the tech stocks.
Curious Cryptos’ Commentary – Mark Yusko
Mark Yusko, founder of Morgan Creek Capital, was recently interviewed by CoinTelegraph:
Some of his closing comments are instructive. When asked about the innovation cycle, he breaks it down into four elements. The first – disruptive technology is ignored by the incumbents. For BTC that was 2009 to 2015. The second, 2016 to 2021, is the “then they laugh at you” phase. The third, 2022 to 2027, is the “then they fight you” phase which is not yet over. This was clearly signposted with the immoral and illegal Operation Chokepoint 2.0, the SEC’s regulation by enforcement, and is continuing with Senator Elizabeth Warren at the head of her anti-liberty and anti-freedom army (I paraphrase a little there to be fair). In Mark’s view, the $7 TRILLION that TradFi is skimming from legacy processes makes them very reluctant to give up that safe and predictable income stream. Finally, the most important phase, is the “then you will win”. Here it is:
“It is inevitable that we will win.
It is inevitable that everybody will use blockchains to exchange value.
It is inevitable that Bitcoin will be the native currency of Web3.
It is inevitable that this will happen.
But not tomorrow.”
He goes on to describe CBDCs as “horrible and evil”, so you know the man talks sense.
Mark is on our side, the right side.
Curious Cryptos’ Commentary – Tokenisation
I have been telling you for a long time that MiCA, the global leader in crypto regulation adopted by the EU to more than a touch of surprise not only to certain EU leaders (Convicted Criminal Christine Lagarde for one) but also to the entire rest of the world, will be a driving force for the wholesale adoption of cryptos.
Here is yet more proof that the CCC is right.
Liechtenstein, one of the world’s largest tax havens, has granted approval for Ondo Capital Markets of offer tokenised stocks and ETFs to retail investors. This comes soon after Ondo has launched the same service within Switzerland. There is a kicker to this news. Though Liechtenstein is not part of the EU, it part of the EEA. It has implemented MiCA. This approval from a country with just 40,000 inhabitants allows Ondo to market its wares to the 450 million people within the EU:
The native token ONDO has a market cap of just $5bn and, in common with all cryptos, it is currently on sale. I think ONDO is about to get added to the CC Treasury reserves.
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