Empire Podcast: The Bull Case For DePIN, RWAs on Hyperliquid & The Onchain Endgame | Weekly Roundup
This week, we dissect the evolving theory of DePIN, from attracting real revenue to infrastructure financing, regulation, and why some networks are finally ramping up at scale. We also discuss the boom in Hyperliquid RWAs, bringing in funds and companies across the chain, 2026 IPOs, and more. Enjoy! — Follow Salvador: https://x.com/DAnconia_Crypto Follow Jason: https://x.com/JasonYanowitz Follow Rob: https://x.com/HadickM Follow Santi: https://x.com/santiagoroel Follow the empire:https://x.com/theempirepod — Coinbase Crypto Backed Loans, powered by Morpho, enable you to obtain loans at competitive rates using cryptocurrencies as collateral. Rates are usually 4% to 8%. Borrow up to $5 million using BTC as collateral and…
Messari: DePIN Emerges as a $10B Sector with Resilient Revenues
Decentralized physical infrastructure networks, or DePINs, aren’t just a buzzword limited to late-cycle cryptocurrency chatter. A joint State of DePIN 2025 report from Messari and Escape Velocity says the sector has matured into a $10 billion market, with on-chain revenue reaching around $72 million in the previous year. The analysis compares the post-2018-2022 DePIN token pool – down a staggering 94%-99% from its all-time highs – with a handful of projects now generating verifiable recurring revenue and commanding valuation multiples in the 10x-25x revenue range. Massari categorizes these multiples as undervalued given the growth trajectory, highlighting the shift that links…
DePIN Sector 2025: Tokens Down, On-Chain Revenues Up | Fundamentals Shift – News and Statistics
January 30, 2026 Decentralized physical infrastructure networks DePIN is still facing pressure from falling token prices, but sector revenues are showing resilience, according to a report by Facilitator. Most DePIN tokens stagnated or declined in 2025, with tokens launched between 2018 and 2022 lagging their all-time highs by 94-99%. However, a subset of networks reported growing on-chain revenue, indicating a shift away from speculative valuation towards fundamental economic activity. This sector represents approximately $10 billion in circulating market capitalization and generated an estimated $72 million in on-chain revenue in 2025. Leading revenue-generating DePIN networks are now trading at roughly 10…
Escape Velocity raises a $62 million fund to bet on ‘DePIN’ crypto networks for telescopes, solar energy, and more
while Bitcoin As 2026 begins, sentiment towards other areas of the cryptocurrency space has deteriorated further – particularly DePIN, or decentralized physical infrastructure networks. Tokens for decentralized cell phone service Helium and decentralized mapping network Hivemapper, for example, are near all-time lows. However, some investors remain bullish on the concept, including venture startup Escape Velocity, which has raised $61.74 million for a second fund to support DePIN founders and cryptocurrencies more broadly. The company closed its latest round of capital in December, attracting high-profile investors such as venture giant Marc Andreessen and prominent fintech investor Micky Malka of Ribbit Capital.…
Finance Redefined — TradingView News
The EU’s new cryptocurrency tax reporting regime under DAC8 deliberately focuses on actionable targets, leaving decentralized finance (DeFi) out of scope for the time being. Colby Mangels, former advisor to the Organization for Economic Co-operation and Development (OECD) and current global head of government solutions at Taxbit, said the rules prioritize identifiable intermediaries such as custodians and exchanges, who will be required to collect and report standardized user activity data under the OECD’s Crypto Asset Reporting Framework (CARF). However, the process of DeFi truncation may not continue. Tax authorities are increasingly relying on anti-money laundering (AML) frameworks to determine accountability…
What is DePIN? The case for decentralizing the real world
What if our most important services – basic internet access, electricity, and access to water – were owned by users, not companies? In this talk, Jay Woollett, Cryptocurrency General Partner at a16z, explains decentralized physical infrastructure (DePIN) networks and why they may be one of the most important use cases for cryptocurrencies. Most people understand how blockchain technology decentralizes digital services. But energy grids, communications networks, transportation, and other physical systems are controlled by centralized companies. DePIN upends this model by allowing users to own, operate, and manage the physical infrastructure they rely on. The man collapses: What DePIN actually…
DePIN grows into a $10B sector despite token slump, Messari says — TradingView News
Decentralized physical infrastructure networks (DePINs) have been written off as dead by many investors, but a new “State of DePIN 2025” report from Messari and Escape Velocity says the sector has steadily grown into a $10 billion market and generated $72 million in onchain revenue in the past year alone. According to the report, DePIN tokens for the 2018-2022 class are down a whopping 94%-99% from their all-time highs. However, flagship projects now generate verifiable recurring revenue and trade at 10 to 25 times revenue multiples, levels that Massari describes as undervalued relative to growth. Al-Masari said that this shift…
Escape Velocity Raises $62M to Back DePIN Infrastructure
Escape Velocity confirms new $62 million fund Escape Velocity has raised a $62 million fund. The project company said the capital will support decentralized physical infrastructure networks. These include telescope networks. It also includes solar networks. The company said that the fund targets projects that build real interest. The increase shows strong interest in DePIN, the founders said. They said investors still believe in decentralized models. They added that DePIN can support new peer-to-peer services. They also said the model could help reshape infrastructure in phases. Escape Velocity said the increase gives it room to support new teams. She said…
Crypto: DePIN Returns Strongly With A $10B Market, According To Messari
Thursday, January 29, 2026 ▪ 3 1 minute read ▪ By Ariella R. Summarize this article with: ChatGPTConfusionYour puppy Messari renews interest in the forgotten cryptocurrency sector. We point out DePIN networks that show strong growth and real revenues, despite the free fall of tokens. short DePIN projects generate real revenues despite the collapse of their tokens in the market. InfraFi ushers in a new era of cryptocurrencies focused on tangible profitability and economic benefit. DePIN projects surprise with unexpected performance The “State of DePIN 2025” report prepared by Masari estimates the market at $10 billion. Data reports $72 million…
DePIN Market Defies Predictions with Stunning $10 Billion Growth, Reveals Messari Analysis
Bitcoin worldDePIN market defies expectations and grows to staggering $10 billion, Masari analysis reveals In a significant development for real-world applications of blockchain technology, the decentralized physical infrastructure network (DePIN) sector has reached an impressive $10 billion valuation, according to a comprehensive new analysis from Messari. This growth directly contradicts many predictions about the potential extinction of the sector, demonstrating instead a resilient and fundamentally sound market. The blockchain analytics firm’s report, cited by industry publication Cointelegraph, reveals that Deepin projects generated $72 million in verifiable on-chain revenue last year alone, providing tangible evidence of economic activity that goes beyond…