- •Token2049 Singapore panel explored how Bitcoin, Ethereum, and stablecoins reshape corporate treasuries, highlighting compliance, risk management, and future tokenization growth.
- •Executives from SharpLink, Hyperliquid, and Smarter Web shared strategies for using digital assets as reserves, stressing transparency, liquidity, and institutional adoption.
- •The roundtable marked a shift from speculation to mainstream finance, with panelists forecasting AI‑driven treasuries and Bitcoin‑led real‑world asset integration.
On the first day of Token2049 Singapore (October 1), the world’s biggest annual crypto event, a roundtable called “The Digital Asset Treasury Revolution” became the highlight of the conference. The 35‑minute session on the BingX Labs stage featured three industry pioneers: Joseph Chalom, Co‑CEO of SharpLink Gaming; David Schamis, CEO of Hyperliquid Strategies; and Andrew Webley, CEO of The Smarter Web Company. The moderator was Xiao‑Xiao J. Zhu, Digital Operating Partner at KKR.
At the same time that Bitcoin passed the $115,000 mark and Ethereum tokenization was growing fast, this panel showed how companies can use digital assets in their treasury strategy. It also inspired people to think about how traditional finance and blockchain will come together. Among the 25,000+ attendees, many said this was “the biggest macro change since the gold standard.”
Origins of the Trend: From MicroStrategy to the Global “Digital Treasury Boom”
The idea of Digital Asset Treasuries (DATs) started with MicroStrategy in 2020, when it began buying large amounts of Bitcoin. In 2025, this idea became a global trend. Today, more than 150 public companies hold Bitcoin or Ethereum as “hard money” to protect against inflation and increase balance sheet value. Research from Galaxy shows that companies using digital‑asset strategies often see their stock value trade at a 20 % premium. But they also face risks like equity dilution and uncertain regulations.
Token2049 Singapore captured this trend. The city’s friendly regulation brings strong cross‑border capital, and companies are moving from “experimental” holdings to mainstream adoption. In another panel, Coinbase Institutional said that DATs are now pushing institutional adoption of crypto, and that stablecoins will pass $1 trillion on‑chain this year.
The focus of this panel was clear: how companies can change treasury management through digital assets. From Bitcoin and Ethereum as reserves, to why these assets may become the world’s most valuable, the discussion was a turning point.
Star Lineup: Pioneers with Practical Insights
Each speaker had a different background. Chalom brought experience from BlackRock, Schamis focused on derivatives, and Webley shared his Bitcoin treasury story. Zhu, from KKR, connected big‑picture trends with real strategies.
Joseph Chalom (Co‑CEO, SharpLink Gaming; former Head of Digital Asset Strategy at BlackRock)
“At SharpLink, we believe Ethereum (ETH) should be the main reserve for treasuries. It is more than just a store of value—it is the engine of tokenization. ETH can move real‑world assets like real estate and bonds onto the blockchain, with 24/7 global settlement and instant liquidity.
At BlackRock, I saw that volatility, while feared, can be turned into yield through DeFi tools. On stage, I said: if companies only focus on Bitcoin as ‘digital gold,’ they will miss the decade’s chance to reshape markets. Compliance and transparency are key. In the future, going all‑in on digital assets will not be optional—it will be necessary.”
David Schamis (CEO, Hyperliquid Strategies; Co‑Founder & CIO, Atlas Merchant Capital)
“At Hyperliquid, we see treasuries as a bridge from speculation to real finance. The key is active management with derivatives and liquidity tools, not passive storage. Bitcoin and Ethereum are strong, but protocols like ours provide fast execution and easy access. This turns treasuries into value engines.
Infrastructure is more important than short‑term bets. Centralized exchanges are slow and limited. Blockchain rails replace them. Risks exist, like equity dilution, but companies must build real businesses for long‑term growth. Institutions are adopting fast. My message: don’t waste time on weak projects. Use your balance sheet, embrace multi‑chain liquidity, and join the trillion‑dollar DeFi economy.”
Andrew Webley (CEO, The Smarter Web Company; called the “UK’s Metaplanet”)
“At Token2049, I shared our Bitcoin treasury strategy. We treat BTC as ‘digital capital.’ It unlocks value from idle cash, reshapes the balance sheet, and increases company value. But simple buying is not enough. Market volatility tests conviction. Companies must manage NAV changes and regulatory risk.
Bitcoin is an asymmetric growth tool: unlimited upside, protected downside through scarcity. Success depends on community support, strong custody, and clear reporting. We are also looking at M&A opportunities to link Bitcoin with core business. Companies should go all‑in, but with execution and community trust. Long‑term vision beats short‑term moves.”
Xiao‑Xiao J. Zhu (Digital Operating Partner, KKR; Moderator)
“From KKR’s private equity view, this is a digital transformation, not a bubble. Guests showed three pillars: ETH for tokenization, derivatives for liquidity, and BTC for conviction. Together, they prove how companies can use digital assets to create value.
Institutions fear volatility, but stablecoins and cross‑chain tools can reduce shocks. Balance is key: a treasury is like a symphony. It needs harmony, not single bets. Yield‑bearing applications will drive the future, and KKR will help European companies adopt them. The revolution is here. Digital assets are the new lever for strategy.”
Core Themes: Opportunity, Risk, and Future Vision
The panel began with “Why now?” Chalom showed ETH as the tokenization engine. Schamis stressed derivatives for hedging. Webley pointed to Bitcoin’s asymmetric upside. Zhu guided the debate, and all agreed that stablecoins are the Trojan horse—a safe entry point with 5–8 % yield.
Risks were also clear: dilution, NAV pressure, and volatility. Solutions included transparent reporting, L2 scaling, and professional custody.
Looking five years ahead:
- •Chalom saw a fully tokenized world, with 50 % of treasuries in smart contracts.
- •Schamis predicted AI‑driven treasury optimization, turning them into built‑in hedge funds.
- •Webley foresaw Bitcoin‑led RWA layers, with companies “stacking sats” for expansion.
For beginners, advice was the same: start small, stay compliant, audit tech, check liquidity, and build community trust.
Broader Impact: From Speculation to Mainstream
The energy was high. Webley’s post on X got 97 likes, Chalom’s got over 260. The community reacted: “This talk is a must‑listen! Don’t miss the revolution.” One user joked: “From a shitcoin event to serious balance sheet leverage.”
The panel was more than a highlight—it showed the story of 2025. CME Group data shows institutional crypto activity has tripled. DATs are moving from niche to mainstream. Pantera Capital also announced a SOL treasury, adding to the trend. But geopolitical risks remain: Arthur Hayes warned that European capital flight could push the ECB to print €5 trillion.
As Chalom said: “Acceleration.” Under the Marina Bay lights, this revolution is already changing global balance sheets. The next day, BTC rose 2 %. Will companies go all‑in on digital assets? The answer is inside the insights shared on stage.
〈【Token2049 Singapore】The Digital Asset Treasury Revolution〉這篇文章最早發佈於《CoinRank》。