GM. This is Milk Road, the DoorDash of crypto insights (we deliver the goods, hot n’ fresh).
Here’s what we got for you today:
- ✍️ The best AI/crypto play out there
- ✍️ Why is everyone talking about MetaDAO?
- 🎙️ The Milk Road Show: a16z Report Explains Why Crypto Is Ready for Its Breakout Year w/ Daren Matsuoka & Robert Hackett
- 🍪 a16z released their 2025 'State Of Crypto' report
Outskill is hosting a hands-on bootcamp designed to make you an AI-expert in just 16 hours. Reserve your free seat now.
Prices as of 2:00 PM ET. Buy today with Milk Road Swap.
GALAXY DIGITAL = THE BEST AI/CRYPTO PLAY OUT THERE 🤝
Companies that are “building at the intersection of AI and crypto” can sometimes raise our alarm bells.
(Are they building a legitimately useful product? Or mashing two buzzwords together?)
But if there’s one exception to the rule, it’s Galaxy ($GLXY).
They’re legit. They’re building in both sectors. And they’re killing it.
Here’s what they do, what they’re building, and how they’re faring:
1/ What do they even do?
Galaxy started as a Bitcoin mining company, and has since expanded to offer validation and staking services across Ethereum, Solana, Polygon, Avalanche, Cosmos, and Polkadot.
As far as spread goes, that’s *counts fingers * a lot.
And with all of that, came some experience in building data centers… you know who needs a metric sh*t ton of data centers? The AI industry.
(A demand Galaxy is all too willing to fill.)
Here’s how Galaxy is currently splitting its money across each sector (as well as its treasury):
2/ What are they building?
First we have GalaxyOne, their financial ‘everything app’ (offering 4-8% yield, as well as stock, ETF, and crypto trading) – all built on blockchain rails.
Next comes the AI data centers…
By the end of 2025, Galaxy should have the approval to build a slew of data centers totaling 1.6GW of computing power, with another 0.9GW in review (a total of 2.5GW).
For context: Digital Realty ($DLR) – one of the biggest data center companies in the world – runs 310 data centers globally with a combined power capacity of 2.7GW.
Meaning Galaxy is shaping up to become one of the biggest dogs in the yard across two of the hottest industries in the world.
3/ How are they doing so far?
According to their Q3 earning report, which dropped yesterday? Er, pretty great!
If you’re feeling giddy about Galaxy and want to get even deeper in the weeds, you should check out our $GLXY PRO Report from late August.
We were so bullish after writing it that we put up a buy signal for $GLXY in our PRO Discord channel, shortly after.
(So far, readers that answered that signal have seen their money double, bottom to top!) 👇
Click here to get access to any future buy signals.
But where do you stand on $GLXY? Reply to this email with one of the following to let us know:
- Bullish
- Bearish
- Neutral
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WHY IS EVERYONE TALKING ABOUT METADAO? 🗣️
It’s that time again…
Martin’s chirping at me to write about something at damn-near 4 in the morning.
And today, that ‘something’ is MetaDAO:
In short, MetaDAO (like most Decentralized Autonomous Organizations) is essentially a communal investment fund.
Folks buy $META tokens from MetaDAO → MetaDAO creates a fund with its earnings → the community votes on what to invest in.
The key difference with MetaDAO is its new ‘legal wrapper’, and most importantly: the adoption of futarchy.
(Which, no, is not a Christian cuss word — you’re thinking of ‘malarkey’.)
Here’s what that all amounts to…
1/ The futarchy system means that people aren’t voting, they’re betting.
With most DAOs, 1 token = 1 vote. But with MetaDAO, 1 token = 1 bet – because when a MetaDAO proposal is made, users don’t vote on the outcome, they bet on it.
Here’s how it works:
Say the proposal asks ‘Should MetaDAO spend $1M on marketing (yes or no)?’
If you bet yes, and the majority of the open market does the same → the ‘yes’ vote passes and you get a payout…
If you bet yes, and the majority of the open market votes ‘no’ → the ‘yes’ vote does not pass, and you lose the money you bet…
The secret sauce here: when money is on the line, people are way more careful with their decisions, as pouring cash into $META tokens in order to manipulate votes carries real risk.
And the system goes beyond just DAO-related votes, it has been built to offer futarchy-style voting as a service. 👇
2/ Futarchy incentivizes real research and unbiased votes
Let’s jump back to that ‘$1M in marketing spend’ example…
Say you’re a marketing firm and MetaDAO is your client (meaning that $1M contract is headed your way if the proposal passes).
…but, uh oh, the vote is tipping towards ‘no’.
If this were a traditional DAO, you could: buy up a bunch of tokens → swing the vote → land the $1M deal → sell your DAO tokens afterwards and recoup your money.
Futarchy deters those kinds of biased votes, as there’s a real risk of losing your money.
Plus, for those without obvious bias – the system incentivizes voters to do deeper research on what is being proposed (again, as they’re at risk of losing their money).
3/ The ‘legal wrapper’
MetaDAO is set up so that it can only legally spend its funds based on the results of proposal outcomes.
Which seems like a no-brainer, but it’s not common practice – most DAOs take a more ‘trust me bro’ approach.
Which, in the past, has led to unapproved allocations being made – e.g. The Arbitrum Foundation once allocated 750M $ARB tokens to itself. 👇
It’s not to say MetaDAO’s structure is perfect – $META tokens do not represent legal ownership of the underlying organization the same way buying shares in a company might.
Owning the $META token (as with just about every crypto token) is kinda like owning a collectible card:
Its value depends on how much people want it – it’s not a legal promise to any shareholder value from the card maker.
But the idea is: More robust systems = more trust = more participants = more demand = number go up.
Pretty neat!
THE ALL ACCESS PORTFOLIO JUST GOT A MAJOR UPGRADE 🥛
We’ve been talking about building faster, smarter, more interactive tools for our All Access members, and the Portfolio just got its biggest glow-up yet.
It’s not new. It’s better. Way better.
Here’s what’s changed:
- 🧭 Interactive charts so you can scroll through allocation changes over time (1M, 3M, 6M, YTD, all-time).
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- 🧃 Yield strategies and past trades so you can see how we deploy capital and what we’re buying, selling and holding.
It’s the most powerful version of the Milk Road All Access Portfolio we’ve ever built. More intuitive, more transparent, and way more fun to explore.
If you’re already All Access, head to our website and check it out.
If you’re not, now’s the time to join and see how we’re positioning in real time.
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