The biggest gains in the stock market happen before a company ever goes public, and Citi just built a lane into that stage.
Everybody is watching tokenized public stocks. Citi moved one layer earlier. On June 11, 2026, Citi launched Digital Depositary Receipts on private company shares. A depositary receipt is an old, trusted wrapper: instead of holding the share directly, you hold a receipt that represents it. Citi is now issuing that wrapper on regulated blockchain infrastructure operated by SIX, the Swiss exchange group whose digital exchange won Swiss regulatory approval back in 2021.
Citi says it is the first time a global financial services company is both the issuer and the custodian of tokenized depositary receipts representing private companies. The first transaction involved Kaleido, an institutional tokenization platform backed by Citi Ventures, with Citi's custody, wealth, markets, and venture teams all involved. This is not one innovation lab playing with a blockchain. The whole machine showed up.
Why it matters: companies stay private longer and IPOs come later, so by the time regular investors get access, much of the value has already been captured privately. This builds a cleaner institutional lane into that private stage.
Be clear about what it is not: there is no public volume, no broad liquidity, no retail access yet. The demand starts with private banks, wealth desks, and institutions. That is exactly why it matters. Tokenization is moving upstream, closer to where wealth actually gets created, before the public ever gets involved.
What it means for you: do not just watch coins. Watch the rails. The custody platforms, settlement layers, and chains institutions trust are where this demand lands first, and we have seen this adoption pattern repeat for two hundred years. Get with it or get left behind.
Follow for the next breakdown.
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Next season for thank Arbitrum - I’d love to see a program focused on supporting builders whose protocol improves composability on @arbitrum providing a unique value proposition which no other chain can provide.
1/ Excited to welcome @ChipherChainCap as a founding Double Dedicated Capital Provider (#D2CP). As a decentralized nondirectional capital management firm specializing in digital assets and DeFi, It will actively supply capital & support liquidity for @arbitrum projects.
First meme using @double2winwin as the liquidity solution. Could be nice beta play for a very innovative project that makes providing liquidity more attractive on the capital side. Very interested to see how this one plays out!
1/ Super excited to announce that Double has launched its novel liquidity infrastructure for AMMs on @Arbitrum. Double adds tremendous value to the Arbitrum ecosystem: solves liquidity challenges for projects; attracts massive capital; increases TVL and swaps on AMMs.
How to get up to speed with web3 in 2024.
An up-to-date reading list with everything you need to know to get started or brush up ↓
BIG PICTURE
1. Read Write Own
BUILDING THE NEXT ERA OF THE INTERNET by @cdixon
Understand the power and influence of the internet, and how blockchain networks allow it to fulfill its promise.
https://t.co/Xk6SE9X4IA
2. Messari Crypto Theses 2024 by Ryan Selkis @twobitidiot
Get the key web3/crypto trends, people, companies, and projects with predictions.
https://t.co/fm0nbbjN07
WHITEPAPERS
3. Bitcoin Whitepaper by Satoshi Nakamoto.
Learn how web3 begins and the thinking behind it.
https://t.co/cgJwuOfQsF
4. Ethereum Whitepaper by @VitalikButerin
How Ethereum emerges and the thinking behind it.
https://t.co/SlLWbxxC1t
5. Solana Whitepaper by @toly
Learn how Solana develops and the thinking behind it. https://t.co/h5AyBVa9aE
6. Aptos Whitepaper by @moshaikh@AveryChing
Learn how the Aptos blockchain @Aptos_Network works.
https://t.co/N3ZGoc5RQI
7. Sui Whitepaper by @EvanWeb3@b1ackd0g et al.
Learn how the Sui blockchain @SuiNetwork works.
https://t.co/laP8pIcg7u
8. Internet Computer Blockchain ICB Whitepaper by @dominic_w & @dfinity team
Learn how the ICB works.
https://t.co/eGh0YiuWgU
9. Polkadot Whitepaper by @gavofyork Robert Habermeier et al.
Learn the thinking behind the Polkadot protocol.
https://t.co/qIhDVqTLNH
10. Polygon Whitepaper by @MihailoBjelic@sandeepnailwal et al.
Learn how layer 2 blockchain Polygon emerges.
https://t.co/rRUITl69Xe
11. Getting Started with Optimism by the @Optimism team
Learn how layer 2 blockchain Optimism works.
https://t.co/w03DfaNNly
12. What is Aleo, the privacy-first blockchain? by @brennenschlu
Learn about @AleoHQ a blockchain for privacy.
https://t.co/74R8Rmqovb
STABLECOINS
13. The Convergence of
Money and the Internet by Jeremy Fox Green @KashRazzaghi of @circle
How the internet is evolving and changing money.
https://t.co/0b14USecjC
14. Payment Stablecoins Support the Dollar & U.S. Economic Competitiveness by @jerallaire
Understand the importance of stablecoins and the need for supportive regulation.
https://t.co/5XuNgXX4yO
DEFI
15. Top 10 DeFi Platforms in 2024 by Matthew Du
Learn which platform to use and why.
https://t.co/bJqbwe2wBF
16. Electronification, Trading, and Crypto @Uniswap by @brendanpmalone@aadams and Maher Latif
How public blockchains can reengineer the financial system to be more open, fair, and efficient.
https://t.co/MHHPIviKMX
17. A Beginner’s Guide to Decentralized Finance by @sid_coelho
Learn how DeFi makes an alternative, global financial system accessible to anyone with a smartphone and internet. https://t.co/oPx2plLQey
18. What explains the rise of AMMs? by @hosseeb
Learn how automated market makers, like @uniswap, can expand your financial options by using simple pricing algorithms.
https://t.co/VvPI0mQaxx
TOKENS & TOKENIZATION
19. The Everything Token
HOW NFTS AND WEB3 WILL TRANSFORM THE WAY WE BUY, SELL, AND CREATE by @NFTbark and @skominers
Learn how NFTs create new markets and revolutionize commerce, brand-building and communities.
https://t.co/e0nVSS88sF
20. Soulbound by @VitalikButerin
Learn about non-transferable NFTs.
https://t.co/85t1oslb6V
21. Tokenology: Moving beyond ‘tokenomics’ by @guywuolletjr
Learn about Tokenology, the study of how to coordinate people, organizations, and/or computation towards a common goal.
https://t.co/udCpgNQN5s
22. NFTs & 2030 by @punk6529
Learn why NFTs will be ubiquitous by 2030.
https://t.co/Sr9kjUHnNo
23. By 2030, tokenization of real-world assets will be a $16 TRILLION industry by @mishadavinci
A quick overview of the coming wave of tokenization of real-world assets.
https://t.co/qBUQ1NMhL8
GAMING & METAVERSE
24. Virtual Society
THE METAVERSE AND THE NEW FRONTIERS OF HUMAN EXPERIENCE by @HermanNarula
Understand what the metaverse really is and how it transforms life in the future.
https://t.co/CjN5TfwWvW
25. Improbable | How Victory League connected fans worldwide to… by @Improbableio
https://t.co/rKtBPDPufn
PRIVACY
26. Zero Knowledge Canon, part 1 & 2 by @smc90 et al.
Understand, go deeper, and build with all things zero knowledge.
https://t.co/eorgRenku9
27. Purpose-built for privacy: How zPass architecture & participants create a more secure web by @snarkworld
Learn about zPass a novel technology that makes it easier and safer to share your data online.
https://t.co/rzAJmoITYT
28. Qualifying for loans — without exposing your bank account by @snarkworld
How zero-knowledge offers more privacy and control in your financial transactions.
https://t.co/JJf6lJJQsx
WEB3 & AI
29. In an AI dominated world, we WILL NOT SURVIVE without blockchain technology & web3 @mishadavinci
Learn why the rise of AI makes web3 absolutely essential.
https://t.co/WZuWosEaSu
30. My techno-optimism by @VitalikButerin
Learn about the decentralized approach to AI development.
https://t.co/EX5TMdmCpi
31. Making Sense of Web3’s Burgeoning AI Ecosystem by @atterX_
Understand web3’s AI tech stack.
https://t.co/GhiMYHdUUi
32. Fox Corporation Taps Polygon PoS to Power Verify, an Open Protocol for Content and Image Verification @0xPolygonLabs
Learn how web3 is being used to provide media authenticity in an AI-generated world.
https://t.co/PL1IUr2vjF
33. Checks and balances: Machine learning and zero-knowledge proofs by @VirtualElena
How zero knowledge can be used to verify AI models.
https://t.co/nFYoilgvyc
UNDERSTANDING DECENTRALIZATION
34. Factors of decentralization of web3 protocols: Tools for planning greater decentralization by @milesjennings et al.
Understand this key innovation enabled by blockchain technology.
https://t.co/XIjsSzxYjU
35. Principles & Models of Web3 Decentralization by @milesjennings
An in-depth look at decentralization, including its challenges and its promise.
https://t.co/EzQdjhDNBV
That's it for today, folks. Please share by reposting.
For more on the tech, ideas, and people shaping the future, follow me @mishadavinci.