DEXITCHIXS Digital Asset Newsletter and Insights

Meta, DNA & Betting with Kalshi

• It's known in the industry that will have billions of deceased user accounts by 2100. What is truly disturbing is that Meta not only has recently patented to right to use these deceased user accounts for monetization, they are also training their LLM's to enable this manifestation. This hasn't yet been realized but knowing that data storage for billions of accounts costs Meta enough money that they have to monetize them. What does this look like? Perhaps the real question to ask is: How does this impact our kids and grandkids?

• Did you submit your DNA to 23andme? In Connecticut, Attorney General William Tong today submitted testimony in support of An Act Concerning Direct to Consumer Genetic Testing, legislation proposed by his office to give Connecticut residents exclusive control over their DNA and genetic data. What this means is that  this extremely sensitive data will require security measures to protect consumers’ biological samples and genetic data from unauthorized access or disclosure, including its use in targeted marketing. Protecting future generations means being very aware of the data being collected, whether it's your shopping habits, Facebook likes or genetic DNA mapping.

• Betting on death. On previous newsletters we discussed Polymarket's incredible journey as they created what is today called a "prediction market" based on popular betting. As a type of gambling website for current events, they have trades in the millions asking a question such as: “Will the Iranian regime fall by June 30?”... now their competitor website Kalshi, demonstrated that $54 million was spent on the question “Ali Khamenei out as Supreme Leader?,” a bet whose results somehow ended up ambiguous even after Khamenei’s assassination."  Even though the CEO Tarek Mansour says they have specific rules around gambling and placing bets on someone's death, clearly they are able to place bets on just about anything.  That being said, these assets are sitting on cloud based platforms with tremendous client balances. Yet another Digital Asset worth a lot of money, yet still very invisible to estate and wealth planning.

Crypto Highlights

This week the Federal Reserve granted Kraken Financial a Federal Reserve Master Account. "Through its Federal Reserve master account, Kraken Financial can connect directly to core U.S. payment rails, including Fedwire, without relying on intermediary banks. This direct connectivity enables faster and more efficient fiat movement for institutional clients, while reducing complexity, cost, and operational dependencies."

This means that the way money is being moved is changing. Crypto infrastructure will merge with traditional financial institutions. Transaction processing will become much faster with less banking intermediaries, managing liquidity can be 24/7 and at the fraction of cost because of the direct tech infrastructure.