One day, BlackRock buying UNI and Apollo buying MORPHO will look like obvious key crypto turning point. I say one day, because the market is underpricing these moves. TradFi companies entering crypto not via ETFs but direct token acquisitions is a big deal. They'll likely use tokens for governance allowing them to influence the rules of the infra they use. This matters because 1) governance stops being a pure meme, and 2) it also brings institutional expertise to our onchain world. Most importantly for our bags, it validates that tokens are finally investible. I'm curious if it wasn't Blackrock that actually pushed Uniswap into the UNIfication proposal. This would be a big push for other DAOs with dual equity+token setups to follow Uniswap's lead in order for Tradfi giants to buy their tokens. And this is a catalyst for a new alt season: DAOs with revenue and institutional relevance are now acquisition targets. We've talked about this before yet it's finally happening. This concentration of 1) capital and 2) attention could end the era of money being dispersed into thousands of valueless tokens. The market is finally focusing on assets that institutions can actually value.(Ignas | DeFi)