Cristian Gil

[GSR @GSR_io]

This episode features a wide-ranging conversation between Asheesh Birla (@ashgoblue), CEO of Evernorth, and Frank (@fintechfrank) on actively managed digital asset treasuries, the crypto market shakeout, and more.

Watch it here:

[GSR @GSR_io]

We've received FINRA approval to complete our acquisition of Equilibrium Capital Services.

This marks a significant step forward for our U.S. operations and our ability to support institutional clients through a regulated broker-dealer platform.

https://t.co/i7tx48xqSF

[Quynh Ho @Quynh__Ho]

This milestone carries weight.

@GSR_io has been building quietly for a long time, bootstrapped since 2013, profitable through cycles. No shortcuts, just a lot of iteration and focusing on building crypto market infrastructure.

Today, we welcome @scventuresDNA, backed by @StanChart - a global bank with ~$850bn in assets, operating across 50+ markets and serving millions of clients - as our first external strategic shareholder.

It’s not just about the investment - it reflects how the space is evolving.
More alignment between traditional financial institutions and digital asset-native firms. For us, this is part of a longer journey, from early market structure to what comes next: institutional-grade infrastructure at scale.

Still early, with a lot left to build.

[GSR @GSR_io]

GSR is pleased to announce a strategic investment from SC Ventures, Standard Chartered’s fintech arm (@scventuresdna). This marks our first external strategic shareholder since our founding in 2013.

[Frank Chaparro @fintechfrank]

This was an incredible conversation.

57 minutes of why Morgan Stanley is all in on crypto.

[GSR @GSR_io]

At GSR, we're bullish on RWAs.

[Xin Song @xinsong86]

Morgan Stanley is turning on its dark pool Trajectory Cross to support tokenized equities by end of 2026.

Just one example of the shift from tokenization infancy to maturation we’re seeing at GSR.

As I said with @KevinWSHPod:

~$300T global securities market
Even 5 to 10% onchain = $15T to $30T opportunity

[MR SHIFT 🦁 @KevinWSHPod]

E164 - @GSR_io - $30 trillion is coming on-chain

@xinsong86 is CEO of @GSR_io - 12 years in, bootstrapped with $20K, still standing after FTX - and he thinks in decades, not quarters. A masterclass in market structure, what's actually broken about token launches, and why the $30 trillion tokenization opportunity still needs a demand side.

Timestamps:

0:00 Introduction
2:02 Sleep & Age Banter
3:15 Advantage Of Age & Maturity
7:33 Who Is Xin Song?
9:23 What Did You Learn From Your Parents
12:47 Partnerships: @JupiterExchange @KASTxyz
13:27 What’s Happening With Crypto Right Now Considering The Market
16:12 What Broken Market Structure Means
19:18 Why Crypto Companies Shouldn’t Be Competing With Each Other
21:27 What Shocks You That People Don’t Understand With Crypto vs TradFi
26:42 What’s The Incentive To Make These Changes
28:41 GSR Explained To Your Mom
32:51 Partnerships: @Ethena @sumsub
33:53 Why Do Market Makers In Crypto Have Bad Reputations
36:48 How To Fix The Crypto Market Makers Reputation
40:09 What Does It Mean That GSR Wants To Become The Goldman Sachs Of Crypto
42:05 Example: Goldman Sachs Worked With Coca Cola & How GSR Reflects That In The Web 3 World
44:50 Why Is It Necessary For GSR To Become The Goldman Sachs Of Web 3
48:34 You Made 2 Major Acquisitions, Why?
51:49 Partnerships: @Trezor @Bitwise @SuiNetwork
52:45 Why Is Now The Best Moment For Focusing On Tokenization
56:24 What Must Happen For 10% Of $300 Trillion To Be On Chain
59:20 @katana Explained Simply
1:12:18 Closing Thoughts

[ZachXBT @zachxbt]

@ag_dwf @DWFLabs Please tell us what this “MM” pattern is called then.

[Joshua Riezman @JoshR_GSR]

https://t.co/dsP8RRFGOH

[MR SHIFT 🦁 @KevinWSHPod]

. @GSR_io wants to be the Goldman Sachs of crypto

Hold a token issuer's hand from inception to maturity - primary markets, liquidity, balance sheet management

Full stack Web3 investment banking is the play says @xinsong86

Podcast out this week!

[Jakob Palmstierna @Jakob_GSR]

Launching in the depths of a bear market takes conviction. Katana did it anyway.

It is building an everything platform combining spot trading, lending, perps, a yield-bearing bridge, and a T-bill-backed stablecoin.

Now it is already generating more revenue than venture-backed L2s that raised billions.

[Joshua Riezman @JoshR_GSR]

We are very excited about GSR’s acquisition of Autonomous and Architech. To me, it reflects where crypto is going: toward a more mature capital markets model with greater integration, specialization, and institutional depth.

[BullBrezza | Macro & Crypto @BullBrezza]

Nobody is saying what this actually means.

GSR just built the Goldman Sachs of crypto.

In one $57 million move.
On the exact day the old financial system is showing its cracks.

Think about the timing.

Private credit defaulting at 5.8%.
Traditional banks exposed to $257B in hidden risk.

TradFi investment banks flying blind
into the worst macro environment in decades.

And GSR just quietly assembled:

Institutional liquidity provision.
White glove advisory.
Fundraising infrastructure.
Governance expertise.
Long term capital planning.
Everything Goldman does.

For the asset class Goldman spent 10 years dismissing, then quietly accumulating.

Here's what the market is missing:
The next 500 crypto startups that need Series A to Series C capital -
don't need Morgan Stanley anymore.

They have a crypto-native investment bank that understands their cap table, speaks their language, and doesn't need 6 weeks to understand what a token unlock schedule is.

That's not a $57M acquisition.

That's the infrastructure bet on crypto becoming the dominant
capital markets system of the next decade.

While TradFi is busy explaining its private credit exposure- GSR just built the pipes for what comes after.

[GSR @GSR_io]

Today we’re announcing the $57M acquisitions of Autonomous and Architech.

Advisory, liquidity, and capital markets infrastructure are disconnected services that operate in silos. Through our acquisition of Autonomous and Architech, we're changing that.

https://t.co/B2v1MbaM4F

[Amock_ @Amockx2022]

🇺🇸 Trump : Support us and coordinate with us in war against Iran

🇪🇸 Spain : "We won't" 🔥

🇺🇸 Trump : We will cut all ties and suspend trade deals if you don't give us bases to attack Iran

🇪🇸 Spain : "Go Fúck yourself" 🔥

🇺🇸 White House : Spain has agreed to cooperate with US military

🇪🇸 Spain : "No we didn't" 🔥

Trump : 00 || Sánchez : 03

There's someone who isn't holding back at all. Massive respect 🫡

[GSR @GSR_io]

This market in 2025 wasn't defined by a speculative melt up. Instead stablecoin infrastructure was normalized. Institutions built more and bought more.

Crypto transitioned from speculation to structure.

Here’s what we expect in 2026.

[Xin Song @xinsong86]

@GSR_io @Bybit_Official It's an honor to be recognized with the Outstanding Institutional Contribution award by @Bybit_Official. Proud of the team @GSR_io in building relationships based on trust & transparency, beyond just transactions. Thank you @benbybit @YoyeeInMotion Helen!
https://t.co/4yBgiHxqUg

[GSR @GSR_io]

We'll see you next week in Abu Dhabi where @KunzAlain will discuss GSR's role in the institutional bitcoin economy.

[Xin Song @xinsong86]

Transparency has always been central to how we operate, GSR One represents the evolution of that philosophy.

https://t.co/BcdMBiTAky