THE LONG GAME FOR CRYPTO

Summary from the TLDR Crypto newsletter

Non-financial crypto use cases aren't dead but following a predictable sequence where finance naturally emerges first as blockchain's core primitive of coordinating capital at internet scale. Crypto needs hundreds of millions onchain through financial applications before media, gaming, and AI categories can develop, similar to how the internet required TCP/IP infrastructure before social platforms emerged. The GENIUS Act is evidence that regulatory progress can materialize rapidly when political windows open. The CLARITY Act potentially extends this framework to broader token categories.