The Chopping Block: RWA Perps Go Parabolic, ClawdBot, & Superstate's $82M Raise
Unchained
Laura Shin
4.6 • 1.3K Ratings
🗓️ 29 January 2026
⏱️ 54 minutes
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| 0:00.0 | They've completely forgotten about crypto, or like not forgotten, but they're just like, that toy, they've, you know, the toy story meme, they just like threw away the doll. It feels like, I don't want to play with you anymore. Yeah, exactly. It feels like that a little bit. Not a dividend. It's a tale of two pawn. Now, your losses are on someone else's balance. Generally speaking, air drops are kind of pointless anyways. Unnamed trading firms who are very involved. I like that ETH is the ultimate problem. DFI protocols are the antidote to this problem. Hello, everybody. Welcome to the chopping block. Every couple weeks, the four of us get together and give the industry insiders perspective on the crypto topics of the day. So quick intro, Sric you got Tom, the defy maven and master of memes. Hello, everyone. Next, you've got Robert, the crypto connoisseur and czar of Superstate. Good morning. Next, we've got Tarun, the Gigabrain, and Grand Puba at Gauntlet. Yo. And finally, I'm Hesib, the head hypeband at Dragonfly. |
| 0:59.5 | We're early-station investors in crypto, but I want to caveat that nothing we say here is investment advice, legal advice, or even life advice. |
| 1:00.5 | Please see chopping block. |
| 1:01.8 | That XYZ for more disclosures. |
| 1:05.2 | So, Mr. Zar of Superstate, congratulations. |
| 1:06.7 | You've got some big news. |
| 1:13.3 | Superstate just announced that they raise $82.5 million to, bring Wall Street on chain led by Bain Capital Crypto, Distributed Global, Galaxy Digital, Han Ventures, |
| 1:19.0 | Brevin Howard, huge round, absolutely massive. Talk to us. So first of all, congratulations, |
| 1:25.4 | get a little golf clap, golf clap. Thank you. Beautiful. |
| 1:28.4 | You don't clap yourself. Oh, you don't in golf when you like do the thing? It's a big, you know, you like just present yourself to the world. So yeah, talk to us. Talk to us about the raise. Talk to us about what's going on in Super State land. And obviously, congratulations from us. Thank you. Well, Super State last really raised a Series A in August of 2023. |
| 1:48.7 | So it's actually been quite some time since we raised capital. |
| 1:53.0 | Since then, as a company, we were able to prove out the sort of like early primitives |
| 1:58.7 | of tokenization of securities in an issuer first non-wrapper |
| 2:04.7 | model. We launched two funds. Today, USTB is a T-Bel fund. USC is a high-eield basis fund. Those are |
| 2:12.2 | over a billion dollars of AUM. And we've begun to prove out the tokenization of equities. Last |
| 2:17.2 | year, we brought Galaxy Digital and Sharplink Gaming and Forward Industries, |
| 2:22.8 | their shares onto Solana and Ethereum, really is a test case to prove out the mechanics of |
| 2:28.5 | what does it look like to tokenize the security and what does it look like when it's the same |
| 2:34.0 | stock that trades on the |
| 2:35.3 | NASDAQ or the New York Stock Exchange as a token on the blockchain? The basic mechanics of this |
| 2:40.2 | are live in production. But the really cool thing is that you can actually transfer shares between |
| 2:44.6 | brokerage accounts and apps on your phone and tokens on a blockchain and back and forth again. |
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