Research & writing
Stories on how crypto deals actually get done
History of Stablecoin Go-To-Markets. Eight years after we first wrote on the stablecoin wars, the market has been won four different ways. What mattered in each phase, who won it, and what it cost — with the 2014–2026 race playable in full.
In every acquisition, there’s someone at the acquiring company who quietly wants you to win—your advocate. And there’s often someone who, for reasons you may never fully know, doesn’t—your foe. Spotting and managing both can be the difference between a smooth close and a slow death.
At Relayzero, we believe exits are created and earned—not found. Like mining, building a company is a relentless amount of work, often thankless iteration through failures, pivots, and silent wins. The world sees higher valuations, token launches, or maybe an exit. But founders just see all their work. Most founders I know are not just chasing liquidity. They’re chasing alignment.
Relayzero provided forum advisory on LayerZero's $110M acquisition of Stargate. Lawson walks through the structure, the governance mechanics, and what the deal signals about consolidation in cross-chain infrastructure.
Newsletter
Notes on how crypto deals actually get done. Written by the people running them, published when there is something worth saying.