Richard Yuen

Richard Yuen@Richard__Yuen · 16 天前观点输出

RT @LorenzoARK: Why USDT and USDC are Harder to Kill than Crypto Twitter Thinks: My last Thoughts on Open USD The launch of OUSD has taken…

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Richard Yuen@Richard__Yuen · 25 天前观点输出

RT @Cointelegraph: 🇪🇺 UPDATE: Today is the last day before the EU’s MiCA deadline. 244 crypto firms are now authorized across the EEA, wit…

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Richard Yuen@Richard__Yuen · 28 天前政策影响

Adjusting for maturity and structure, the pricing looks reasonably rational given Jane Street's 6.75% is an ~8y senior secured bond therefoee the term premium vs Wildcat/Pareto's shorter term & more yield-compressed onchain environment. Curious what spread you'd expect on the Jane Street paper?

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Richard Yuen@Richard__Yuen · 28 天前政策影响

Great piece! Curious for your view on how traditional allocators are responding to these onchain private credit products so far. Are you seeing real institutional inflow yet, or is it still mostly crypto-native capital? From my side, I’ve found allocators often want more curated risk profiles because the headline yield doesn’t always justify the added complexities for them. That’s why we’re structuring senior/junior products to tranche and distribute risk in ways that feel more familiar to them. It doesn't seem to be an easy job to reconcile the risks/frictions against the merits that a stablecoin wrapper brings e.g. smart contract risk, potential reflexivity-driven stablecoin depeg even though the book is fine, adverse selection where the best deals stay with the mega private credit funds/platforms

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Richard Yuen@Richard__Yuen · 2026/06/19政策影响

RT @glxyresearch: With Coinbase announcing tokenized stocks for non-US persons, here’s our map of tokenized securities models from February…

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Richard Yuen@Richard__Yuen · 2026/06/17观点输出

RT @JasonYanowitz: @Bfaviero don't think that's correct framing opportunity is not "will there be hundreds of thousands of crypto companie…

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Richard Yuen@Richard__Yuen · 2026/06/17观点输出

RT @fin465: in @ycombinator they have a playbook on how to get customers ASAP for your startup. if you follow this, you’ll brute force you…

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Richard Yuen@Richard__Yuen · 2026/06/14赛道影响

RT @ZeusRWA: Everybody wants to know what tokenization company to invest in. Firstly, it’s important to understand how each layer makes m…

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Richard Yuen@Richard__Yuen · 2026/06/07观点输出

RT @lmrankhan: I’ll forever be bullish on crypto. I think we overestimated how quickly crypto would become the next major computing paradi…

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Richard Yuen@Richard__Yuen · 2026/06/07赛道影响

I beg to differ. Founding teams create almost all the value by taking the real risk, building from zero. Retail mostly provides capital once the heavy lifting is done. Their marginal contribution is small Yes, retail should be rewarded for participation (like sweat equity), but not at the outsized magnitudes we see in today’s crypto incentives. Those levels dilute the core incentive structure that motivates founders and early teams to bet years of their lives on high-risk ideas. Markets already let retail in at IPO (or IDO) which is a price reflecting value already created I think over the years crypto airdrops have already proved what happens when you over-reward late & low-risk participation...

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