What a turnout at our sold out Tokenization event in @dogpatchlabs. A mixed room with TradFi and DeFi natives. Speakers include: @CtrlAltCo, @PwC, @BaillieGifford, @BNYglobal and Interwoven. The panel spoke about second mover advantage, and how we can learn best from other countries mistakes.

HUGE! Congrats @StaniKulechov et al 🇬🇧

Very sad news. May deepest condolences to all at Ondo, friends and family. May his memory be a blessing.

First Marathon Done ✅!

💯 It’s really fun here in the tokenization space, at the intersection of TradFi and DeFi @itsbhaji @TFGolden @QuaintM @Philfog

Here’s the Scottish Mortgage #SMT statement on its 19.3% £2.98bn ($3.94bn) position in SpaceX. Even at $1.25trn the @bailliegifford flagship has made a 19.7 times return since investing £151m ($200m) in August 2021. scottishmortgage.com/en/uk/i…

The Senate Banking Committee released the latest draft of the CLARITY Act last night. The draft has significantly improved since January and reflects years of bipartisan negotiations. It’s time to get this passed. This bill safeguards consumers, includes important developer protections, and gives crypto entrepreneurs the regulatory clarity they need to build here in the U.S. We’re thankful for the hard work of the Senate Banking Committee and their staff. We urge Senators on both sides to move quickly to advance it out of Committee, to the Senate floor, and ultimately be signed into law by the President.

Panel 3: Designing Onchain Utility for RWAs: Infrastructure, Vaults, and Curation Tokenizing an asset is only the first step. Making it useful on-chain is where the real infrastructure work begins. ft @Corkprotocol, @centrifuge, @3FLabs, @BaillieGifford

I loved the article, "AI Isn't Coming for Your Job. It's Coming for Your Mind" by Tom Slater at Baillie Gifford. h/t Ian McKinnon, chairman of the board of trustees @sfiscience. Points about mastery and cognitive diversity are particularly relevant. Worth discussing in professional and educational contexts. bailliegifford.com/en/uk/ind…

London is Europe's most dominant tech hub and it's not even close. And the gap is widening as London becomes an AI hub Great chart from @yoramdw and the @dealroomco team cc @sabben

DAS NYC 2026 Playback Tokenized Equities & the T 0 Revolution with @ryanconnor, @rleshner, Matthew Savarese, @TFGolden and @shyamnagarajan

A delight to sit down with @therollupco to talk through how we are thinking about the institutional side of Crypto at @BaillieGifford. Key points I have been conveying at conferences: 1/ Tokenisation = unitisation on steroids. This is about taking finance into a world of programmable unitisation. Baillie Gifford’s approach is long-term, as ever! It’s not just slicing up funds into smaller pieces. It’s the same high-quality fund structure you already trust, but now fully programmable, composable, and 24/7. Same rights. Same standards. Better outcomes for clients through programmability (automation), cost savings (onchain books and records, self-custody, less intermediaries) and composability (more flexibility to make portfolios without having to use the unsatisfactory fixes we have today). 2/ Tokenised funds are the gateway for TradFi. Once you build the stack (digital custodians, transfer agents, compliance rails), you’re suddenly positioned to go fully onchain for everything else. It’s the low-friction on-ramp that lets institutions test, learn, and then scale into native tokenised securities. 3/ This unlocks a merging TAMs phenomenon at scale. Traditional verticals (banks, asset managers, exchanges, custody, wallets, distributors, market makers etc) are suddenly merging into the same market. The onchain rails (particularly combined with the power of AI) means that the hurdle rate to enter other markets has demonstrably dropped. That means that for everyone this is simultaneously an offence and defence matter. That’s what is driving the institutional onchain evolution. But it also means that there is a real reason to collaborate to get the best solutions for end clients. The existing hierarchy and stack is melting. Bottom line is that institutions aren’t dabbling for hype. We’re building the future of finance together.

On my panel with Christine from Apollo yesterday, I heard a very similar take as Theo here from Baillie Gifford: These large scale, 11-figure asset managers are accelerating their "own disruption" if you will, by taking the leap themselves to create tokenized funds & engage in onchain value creation. Whether its onchain lending & credit creation, tokenized equities and money markets, or just using onchain rails for stablecoin yields — they are jumping in aggressively. Its really an on the nose of saying that there's a massive shift happening, those who adapt quickly and stay agile will be ahead, those who don't will be ultimately left behind.

Some private companies now rival the biggest names in the FTSE 100. They have reached that scale by focusing on long-term opportunity, not listing timelines. Our view on IPO talk: bit.ly/3Nl9ZSt Capital at risk.

🎙️ Spotify: bit.ly/Spotifi-3PJp9BF 🎧 Apple: apple.co/48efp8H 📺 YouTube: youtu.be/pDGTEOqUfX4

A $300 billion asset manager that invested early in SpaceX, Tesla, and Anthropic is now building fully native tokenized funds. Theo Golden from Baillie Gifford explains why. "With crypto, we're looking to almost disrupt ourselves. Bring that innovation in-house." Baillie Gifford doesn't tokenize because it's trendy. It tokenizes because the technology threatens their existing business.

Cannes-not wait to chat all things RWAs with @emmalandriault1 and @EidJohann at @aave. Come along!

I hope we all have someone in our lives who smiles at you the way @rleshner smiled when we got to yap about tokenisation at @blockworksDAS. @SuperstateInc @HiltnerJim @BaillieGifford

Traditional capital is coming onchain. We map out its roadmap live onstage in Cannes on March 31. Panelists: • Cameron Drinkwater - @SPDJIndices • @TFGolden - @BaillieGifford • Yannick Socolov - @Bitwise Moderator: • @Philfog - @Corkprotocol