Tiger Research Reports

Tiger Research Reports

Home
Latest
Project
Regional
Valuation
Opinion
๐Ÿ‡ฐ๐Ÿ‡ท ํ•œ๊ตญ์–ด
About
The Gateway to Digital Asset: On-Chain Data Infrastructure
The Most Transparent Infrastructure, and the Hardest to Use
ย โ€ขย Jay Jo
20:48
๋””์ง€ํ„ธ์ž์‚ฐ ์„œ๋น„์Šค์˜ ๊ด€๋ฌธ, ์˜จ์ฒด์ธ ๋ฐ์ดํ„ฐ ์ธํ”„๋ผ
๊ฐ€์žฅ ํˆฌ๋ช…ํ•œ ์ธํ”„๋ผ, ํ•˜์ง€๋งŒ ๊ฐ€์žฅ ๋‹ค๋ฃจ๊ธฐ ์–ด๋ ค์šด ์ธํ”„๋ผ
ย โ€ขย Jay Jo
14:00
Zuckerberg Is Building a Prediction Market. Asia Still Calls It Gambling.
From Zuckerberg's Arena to Polymarket's election calls, prediction markets became information finance. See why Asia's gambling framing costs it capitalโ€ฆ
ย โ€ขย Ryan Yoon
5:37
๋‹น์‹ ์€ ์˜ˆ์ธก ์‹œ์žฅ์„ ์ œ๋Œ€๋กœ ์•Œ๊ณ  ์žˆ๋Š”๊ฐ€?
์˜ˆ์ธก ์‹œ์žฅ์ด ์ •๋ณด ๊ธˆ์œต ์ธํ”„๋ผ๋กœ ์ง„ํ™”ํ–ˆ๋‹ค. ์ €์ปค๋ฒ„๊ทธ์˜ ์•„๋ ˆ๋‚˜, ํด๋ฆฌ๋งˆ์ผ“์˜ ํ•œ๊ตญ ์ง€๋ฐฉ์„ ๊ฑฐ ์ ์ค‘, ๊ทธ๋ฆฌ๊ณ  ์•„์‹œ์•„๊ฐ€ ๊ทœ์ œ๋กœ ์น˜๋ฅด๋Š” ์ž๋ณธยท์ •๋ณดยท์ด์šฉ์ž ์†์‹ค๊นŒ์ง€ ์ •๋ฆฌํ–ˆ๋‹ค.
ย โ€ขย Ryan Yoon
5:02
$DATA๋กœ ์ „ํ™˜ํ•˜๋Š” $IP, ๋ฆฌ๋ธŒ๋žœ๋”ฉ์€ ์ตœํ›„์˜ ๋ณด๋ฃจ์ธ๊ฐ€
์Šคํ† ๋ฆฌ ํ”„๋กœํ† ์ฝœ์ด ์‚ฌ์ƒ ์ตœ์ €๊ฐ€๋ฅผ ์ฐ์€ ์ง€ 2์ฃผ ๋งŒ์— $IP๋ฅผ $DATA๋กœ ๋ฆฌ๋ธŒ๋žœ๋”ฉํ–ˆ์Šต๋‹ˆ๋‹ค. ์•ž์œผ๋กœ ์ง€์ผœ๋ด์•ผํ•  ๊ทธ๋“ค์˜ ์„ฑ๊ณต๊ณผ ์‹คํŒจ ๊ธฐ์ค€์„ ์‚ดํŽด๋ด…๋‹ˆ๋‹ค.
ย โ€ขย Henry Kimย andย Ryan Yoon
$IP Fell 98%. $DATA Was the Last Card Left to Play
Story Protocol rebranded $IP to $DATA just two weeks after hitting an all-time low. Here is what past crypto rebrands reveal about success and failure.
ย โ€ขย Henry Kimย andย Ryan Yoon
Below the Surface: How Canton Network Is Reshaping Capital Market Infrastructure
Canton Network already powers $7.7T in monthly onchain repo, DTCC's SEC-cleared settlement pilot, and HSBC's digital bond issuance, now expanding intoโ€ฆ
ย โ€ขย Ryan Yoon
5:55
๋น™์‚ฐ ์•„๋ž˜์˜ ์ž๋ณธ์‹œ์žฅ: ์บ”ํ†ค ๋„คํŠธ์›Œํฌ๊ฐ€ ๋ฐ”๊พธ๋Š” ๊ธˆ์œต ์ธํ”„๋ผ
์ง€๊ธˆ ์‹œ์žฅ์ด ์ฃผ๋ชฉํ•˜๋Š” ์ž์‚ฐ ํ† ํฐํ™”๋Š” ์ˆ˜๋ฉด ์œ„๋กœ ๋“œ๋Ÿฌ๋‚œ ๋น™ํ•˜์˜ ์ผ๊ฐ์ผ ๋ฟ์ž…๋‹ˆ๋‹ค. ๋ธŒ๋กœ๋“œ๋ฆฌ์ง€์˜ ์›” 7.7์กฐ ๋‹ฌ๋Ÿฌ ๋ ˆํฌ ๊ฒฐ์ œ, DTCC ์ฆ๊ถŒ๊ฒฐ์ œ, HSBC ๋””์ง€ํ„ธ๋ณธ๋“œ ๋ฐœํ–‰ ๋“ฑ ์‹ค์ œ ๊ฐ€๋™ ์ค‘์ธ ๊ธˆ์œต ์ธํ”„๋ผ๋กœ ๋‚˜์•„๊ฐ€๋Š” ์บ”ํ†ค ๋„คํŠธ์›Œํฌ๋ฅผ ์ค‘์‹ฌ์œผ๋กœ ์•Œ์•„๋ณด๊ฒ ์Šต๋‹ˆ๋‹ค.
ย โ€ขย Ryan Yoon
7:01
RWA ํ† ํฐํ™” ๊ตญ์™ธ์—์„œ ๋จผ์ € ์‹œ์ž‘ํ•˜๋ผ
RWA ์‹œ์žฅ์ด 250์–ต~360์–ต ๋‹ฌ๋Ÿฌ๋กœ ์ปค์ง€๋Š” ์ง€๊ธˆ, ๊ทœ์ œ ์—†๋Š” ๋‚˜๋ผ์˜ ๊ธˆ์œต์‚ฌ๋Š” ๋ฌด์—‡์„ ํ•ด์•ผ ํ•˜๋‚˜. 7๊ฐ€์ง€ ์ค€๋น„ ๊ณผ์ œ, ์„ธ ๊ด€ํ• ๊ถŒ ๋น„๊ต, ์˜จ์ฒด์ธ ๋„ค์ดํ‹ฐ๋ธŒ ์šฐํšŒ ์ „๋žต๊นŒ์ง€ ์ •๋ฆฌํ–ˆ๋‹ค.
ย โ€ขย Ryan Yoon
6:40
Take RWA Tokenization Offshore First
RWA is now a $25-36B market. What should firms in unregulated countries do? Seven readiness tasks, three jurisdictions compared, and on-chain nativeโ€ฆ
ย โ€ขย Ryan Yoon
6:00
Open USD ์ถœ๋ฒ”์ด ์จํด 17% ํ•˜๋ฝ์„ ์ด๋ˆ ์ด์œ 
ํƒ€์ด๊ฑฐ๋ฆฌ์„œ์น˜๊ฐ€ OUSD ์Šคํ…Œ์ด๋ธ”์ฝ”์ธ ์ถœ์‹œ๊ฐ€ ์„œํด(Circle)์˜ USDC ๋น„์ฆˆ๋‹ˆ์Šค ๋ชจ๋ธ, ์ฝ”์ธ๋ฒ ์ด์Šค ํ˜‘์ƒ ๋ฐ ๊ธ€๋กœ๋ฒŒ ์‹œ์žฅ์— ๋ฏธ์น˜๋Š” ํŒŒ๊ธ‰๋ ฅ์„ ๋ถ„์„ํ•ฉ๋‹ˆ๋‹ค
ย โ€ขย Ryan Yoon
How Open USD Sent Circle Down 17%
Tiger Research analyzes how OUSD's revenue-sharing stablecoin model impacts Circle's USDC, Coinbase negotiations, and the future stablecoin market.
ย โ€ขย Ryan Yoon

June 2026

Still 1990: Crypto Cards: $1.5 Billion a Month, but Not Yet Infrastructure
Crypto card payments have grown sharply to more than $1.5 billion a month. This report asks whether that marks crypto cards as genuine financialโ€ฆ
ย โ€ขย Henry Kimย andย Ryan Yoon
6:05
์›”๊ฐ„ ์•”ํ˜ธํ™”ํ ๊ฒฐ์ œ 15์–ต๋‹ฌ๋Ÿฌ, ํฌ๋ฆฝํ† ์นด๋“œ๋Š” ์–ด๋””๊นŒ์ง€ ์™”์„๊นŒ?
ํฌ๋ฆฝํ†  ์นด๋“œ์˜ ์›”๊ฐ„ ๊ฒฐ์ œ ๊ทœ๋ชจ๋Š” 15์–ต ๋‹ฌ๋Ÿฌ๋ฅผ ๋ŒํŒŒํ•˜๋ฉฐ ํฌ๊ฒŒ ์„ฑ์žฅํ–ˆ์Šต๋‹ˆ๋‹ค. ๊ทธ๋Ÿฐ๋ฐ ์ด ์ˆซ์ž๊ฐ€ ํฌ๋ฆฝํ†  ์นด๋“œ๊ฐ€ ์ง„์งœ ๊ธˆ์œต ์ธํ”„๋ผ๊ฐ€ ๋๋‹ค๋Š” ๋œป์ธ์ง€, ์•„๋‹ˆ๋ฉด ์•„์ง ๋ฐœ์ „์‹œ์ผœ์•ผ ํ•˜๋Š” ๋ชจ๋ธ์ธ์ง€, ํ•ด๋‹น ๋ฆฌํฌํŠธ์—์„œ ์‚ดํŽด๋ด…๋‹ˆ๋‹ค.
ย โ€ขย Henry Kimย andย Ryan Yoon
6:16
Why AI + Blockchain Fails to Gain Traction in the Age of AI
Why does blockchain AI lag behind despite the AI boom? We analyze the structural demand gap across decentralized compute, storage, agent frameworks, andโ€ฆ
ย โ€ขย Ekko anย andย Ryan Yoon
4:18
๋Œ€ AI ์‹œ๋Œ€, ๋ธ”๋ก์ฒด์ธ๊ณผ AI์˜ ๊ฒฐํ•ฉ์€ ์™œ ์ฃผ๋ชฉ๋ฐ›์ง€ ๋ชปํ•˜๋Š”๊ฐ€?
AI ํ˜ธํ™ฉ ์† ๋ธ”๋ก์ฒด์ธ AI ์„นํ„ฐ๊ฐ€ ์ฃผ๋ชฉ๋ฐ›์ง€ ๋ชปํ•˜๋Š” ์ด์œ ๋ฅผ ์ˆ˜์š”์ž ๊ด€์ ์—์„œ ๋ถ„์„ํ•ฉ๋‹ˆ๋‹ค. ๋ถ„์‚ฐ ์ปดํ“จํŒ…, ๋ฐ์ดํ„ฐ ๋งˆ์ผ“ํ”Œ๋ ˆ์ด์Šค, ์—์ด์ „ํŠธ ํ”„๋ ˆ์ž„์›Œํฌ, ๋ชจ๋ธ ๊ฒ€์ฆ ๋“ฑ 5๊ฐœ ์„นํ„ฐ๋ณ„ ์ˆ˜์š” ๊ณต๋ฐฑ์˜ ๊ตฌ์กฐ์  ์›์ธ์„ ์ง„๋‹จํ•ฉ๋‹ˆ๋‹ค.
ย โ€ขย Ekko anย andย Ryan Yoon
7:58
H1 2026 Global Crypto Hiring Market Analysis Report
An analysis of 2,932 active crypto job postings in H1 2026. As the market contracts, engineering and compliance roles hold steady while othersโ€ฆ
ย โ€ขย Henry Kimย andย Ryan Yoon
5:34
2026๋…„ ์ƒ๋ฐ˜๊ธฐ ๊ธ€๋กœ๋ฒŒ ์•”ํ˜ธํ™”ํ ์ฑ„์šฉ ์‹œ์žฅ ๋ถ„์„ ๋ณด๊ณ ์„œ
ํƒ€์ด๊ฑฐ๋ฆฌ์„œ์น˜์—์„œ 2026๋…„ ์ƒ๋ฐ˜๊ธฐ ์•”ํ˜ธํ™”ํ ์‹œ์žฅ ์ฑ„์šฉ ๋ฐ์ดํ„ฐ 2,932๊ฑด์„ ๋ถ„์„ํ–ˆ์Šต๋‹ˆ๋‹ค. ์—”์ง€๋‹ˆ์–ด๋ง๊ณผ ์ปดํ”Œ๋ผ์ด์–ธ์Šค๊ฐ€ ์ฑ„์šฉ์„ ์ฃผ๋„ํ•˜๋Š” ๊ฐ€์šด๋ฐ, ์ค„์–ด๋“œ๋Š” ์‹œ์žฅ ์•ˆ์—์„œ ์‚ด์•„๋‚จ์€ ์ง๊ตฐ๊ณผ ์‚ฌ๋ผ์ง„ ์ง๊ตฐ์„ ๋ฐ์ดํ„ฐ๋กœ ํ™•์ธํ•˜์‹ค ์ˆ˜ ์žˆ์Šต๋‹ˆ๋‹ค.
ย โ€ขย Henry Kimย andย Ryan Yoon
6:24
Internet Capital Markets 2026: U.S. Structural Shifts and Implications for Asian Institutions
Explore how Internet Capital Markets are reshaping finance. Tiger Research analyzes why institutions are adopting Solana for compliant, real-timeโ€ฆ
ย โ€ขย Ryan Yoon
4:10
์ธํ„ฐ๋„ท ์ž๋ณธ์‹œ์žฅ 2026: ๋ฏธ๊ตญ์˜ ๊ตฌ์กฐ์  ๋ณ€ํ™”์™€ ์•„์‹œ์•„ ๊ธฐ๊ด€์˜ ๋ฐฉํ–ฅ์„ฑ
์ธํ„ฐ๋„ท ์ž๋ณธ์‹œ์žฅ(ICM)์ด ๊ธˆ์œต ์‹œ์žฅ์„ ์žฌํŽธํ•˜๊ณ  ์žˆ์Šต๋‹ˆ๋‹ค. ๊ธˆ์œต๊ธฐ๊ด€๋“ค์ด ์ปดํ”Œ๋ผ์ด์–ธ์Šค์™€ ์‹ค์‹œ๊ฐ„ ๊ฒฐ์ œ๋ฅผ ์œ„ํ•ด ์†”๋ผ๋‚˜๋ฅผ ๋„์ž…ํ•œ ์‚ฌ๋ก€๋“ค์„ ๋ชจ์•˜์Šต๋‹ˆ๋‹ค.
ย โ€ขย Ryan Yoon
7:32
์ฝ”์ธ๋ฒ ์ด์Šค๋„ โ€œ๊ธˆ์œต ์Šˆํผ์•ฑโ€ ์„ ์–ธ, ์•”ํ˜ธํ™”ํ ๊ฑฐ๋ž˜์†Œ์˜ ํ”ผ๋ฒ— ์—ดํ’
์ฝ”์ธ๋ฒ ์ด์Šค๊ฐ€ 1:1 ์‹ค๋ฌผ ์—ฐ๋™ ํ† ํฐํ™” ์ฃผ์‹์„ ๋ฐœํ‘œํ•˜๋ฉฐ ๋ฐ”์ด๋‚ธ์Šค์— ์ด์–ด '๊ธˆ์œต ์Šˆํผ์•ฑ' ์ „๋žต์„ ์„ ์–ธํ–ˆ์Šต๋‹ˆ๋‹ค. ์ค‘์•™ํ™” ๊ฑฐ๋ž˜์†Œ๋“ค์ด ์ „ํ†ต ์ž์‚ฐ์„ ์˜จ์ฒด์ธ์œผ๋กœ ๋Œ์–ด์˜ค๋Š” ์ด์œ , ์ฝ”์ธ๋ฒ ์ด์Šค์™€ ๋ฐ”์ด๋‚ธ์Šค์˜ ๊ตฌ์กฐ์  ์ฐจ์ด, ๊ทธ๋ฆฌ๊ณ  CEX์˜ ๋ฏธ๋ž˜ ๋ฐฉํ–ฅ์„ฑ์„ ๋ถ„์„ํ•ฉ๋‹ˆ๋‹ค.
ย โ€ขย Henry Kimย andย Ryan Yoon
Coinbase Declares Itself a "Financial Super App": The Pivot Wave Sweeping Crypto Exchanges
Key Takeaways
ย โ€ขย Henry Kimย andย Ryan Yoon
DeFi ๋Œ€์ถœ ์‹œ์žฅ์€ ์™œ ๋ชจ๋“ˆํ™”๋˜๊ณ  ์žˆ๋Š”๊ฐ€: ๋ชจํฌ(Morpho), ์˜ค์ผ๋Ÿฌ(Euler), ์•„๋ฒ (Aave)์˜ ๋ฆฌ์Šคํฌ ๊ด€๋ฆฌ ์ „์Ÿ
DeFi ๋Œ€์ถœ ์‹œ์žฅ์ด ๋ชจ๋“ˆํ˜• ์•„ํ‚คํ…์ฒ˜๋กœ ์ „ํ™˜ ์ค‘์ž…๋‹ˆ๋‹ค. Morpho, Euler, Aave V4๊ฐ€ ๊ฐ๊ฐ ํ”„๋ผ์ž„ ๋ธŒ๋กœ์ปค๋ฆฌ์ง€, ๋ฉ€ํ‹ฐ์ „๋žต ํ—ค์ง€ํŽ€๋“œ, ์œ ๋‹ˆ๋ฒ„์„ค ๋ฑ…ํฌ ๊ตฌ์กฐ๋ฅผ ์ฑ„ํƒํ•˜๋ฉฐ ๋ฆฌ์Šคํฌ ๊ฒฉ๋ฆฌ ๊ฒฝ์Ÿ์— ๋‚˜์„ฐ์Šต๋‹ˆ๋‹ค. RWA ์ž์‚ฐ์ด ์˜จ์ฒด์ธ์œผ๋กœ ์œ ์ž…๋˜๋Š” ์ง€๊ธˆ, ์šด์šฉ ๋ ˆ์ด์–ด์˜ ์—ญ๋Ÿ‰์ด ํ•ต์‹ฌโ€ฆ
ย โ€ขย Henry Kimย andย Ryan Yoon
5:22
DeFi Lending Is Modularizing: The Risk Management War Among Morpho, Euler, and Aave
DeFi lending is shifting from shared-pool to modular architecture. Morpho, Euler, and Aave V4 each adopt distinct risk isolation models as RWA assetsโ€ฆ
ย โ€ขย Henry Kimย andย Ryan Yoon
5:58
U.S. Bitcoin Strategic Reserve: What It Will Actually Mean for the Market
News of a U.S.
ย โ€ขย Ekko anย andย Ryan Yoon
5:21
๋น„ํŠธ์ฝ”์ธ ์ „๋žต ์ค€๋น„๊ธˆ, ์–ธ์ œ ๋น„ํŠธ์ฝ”์ธ์— ์˜ํ–ฅ์„ ์ค„ ์ˆ˜ ์žˆ๋Š”๊ฐ€?
๋น„ํŠธ์ฝ”์ธ ์ „๋žต์  ๋น„์ถ• ์†Œ์‹์€ ์–ด๋Š์ƒˆ 2๋…„ ๋™์•ˆ ์ด์–ด์ ธ ์™”์Šต๋‹ˆ๋‹ค.
ย โ€ขย Ekko anย andย Ryan Yoon
6:35
์•”ํ˜ธํ™”ํ ๊ฑฐ๋ž˜์†Œ์˜ ๋Œ€๊ทœ๋ชจ ์ฃผ์‹ ๊ฑฐ๋ž˜ ์ง€์›, ์™ธ๋ฉด๋ฐ›๋Š” ์•”ํ˜ธํ™”ํ ์‹œ์žฅ
๋ฐ”์ด๋‚ธ์Šค๊ฐ€ ์ฃผ์‹ ๊ฑฐ๋ž˜๋ฅผ ์—ด์—ˆ์Šต๋‹ˆ๋‹ค. ์•”ํ˜ธํ™”ํ ๊ฑฐ๋ž˜์†Œ๋“ค์ด ์•ŒํŠธ์ฝ”์ธ์„ ๋’ค๋กœํ•˜๊ณ  ์ƒˆ๋กœ์šด ๋จน๊ฑฐ๋ฆฌ๋ฅผ ์ฐพ์•„ ๋‚˜์„œ๊ธฐ ์‹œ์ž‘ํ–ˆ์Šต๋‹ˆ๋‹ค.
ย โ€ขย Henry Kimย andย Ryan Yoon
5:55
CEX to Everything Store, Abandoned Altcoins
Binance and several other crypto exchanges have begun offering stock trading services.
ย โ€ขย Henry Kimย andย Ryan Yoon
6:15
2026 Tokenized Stock Market: The Rise of Perpetual Futures
Crypto is in a downturn, yet the tokenized stock market keeps growing.
ย โ€ขย Ryan Yoonย andย Ekko an
5:52
๋ฌด๊ธฐํ•œ ์„ ๋ฌผ์„ ์ค‘์‹ฌ์œผ๋กœ ์•Œ์•„๋ณด๋Š” 2026๋…„ ์ฃผ์‹ ํ† ํฐํ™” ์‹œ์žฅ์˜ ์•ฝ์ง„
์•”ํ˜ธํ™”ํ ์‹œ์žฅ์ด ํ•˜๋ฝ์„ธ๋ฅผ ๊ธฐ๋กํ•˜๋Š” ๊ณผ์ • ์†์—์„œ ์ฃผ์‹ ํ† ํฐํ™” ์‹œ์žฅ์€ ์„ฑ์žฅํ•˜๊ณ  ์žˆ์Šต๋‹ˆ๋‹ค.
ย โ€ขย Ryan Yoonย andย Ekko an
6:36
Defi App: Between Robinhood and DeFi
defi.app fills the gap in DeFi's execution layer with gas abstraction and a chain-agnostic interface, amassing $44B in cumulative volume and 1.06M usersโ€ฆ
ย โ€ขย Henry Kimย andย Ryan Yoon
6:28
Defi App: ๋กœ๋นˆํ›„๋“œ์™€ DeFi, ๊ทธ ์‚ฌ์ด์—์„œ
defi.app์€ ๊ฐ€์Šค๋น„ ์ถ”์ƒํ™”์™€ ์ฒด์ธ ๋ถˆ๊ฐ€์ง€๋ก  ์ธํ„ฐํŽ˜์ด์Šค๋กœ DeFi ์‹คํ–‰ ๋ ˆ์ด์–ด์˜ ๊ณต๋ฐฑ์„ ์ •๋ฉด์œผ๋กœ ๊ฒจ๋ƒฅํ•ฉ๋‹ˆ๋‹ค. ์ถœ์‹œ ์ดํ›„ ๋ˆ„์  ๊ฑฐ๋ž˜๋Ÿ‰ 440์–ต ๋‹ฌ๋Ÿฌ, ๊ฐ€์ž…์ž 106๋งŒ ๋ช…์„ ๊ธฐ๋กํ•œ defi.app์˜ ๊ตฌ์กฐ์  ์ฐจ๋ณ„์„ฑ๊ณผ ๋‚จ์€ ๊ณผ์ œ๋ฅผ ํƒ€์ด๊ฑฐ๋ฆฌ์„œ์น˜์—์„œ ๋ถ„์„ํ•ฉ๋‹ˆ๋‹ค.
ย โ€ขย Henry Kimย andย Ryan Yoon
6:29

May 2026

Korea Institutional Crypto: 2026 Landscape
Korean banks and securities firms are acquiring exchange equity and racing to set standards in STOs, stablecoins, and custody. Tiger Research maps 150โ€ฆ
ย โ€ขย Henry Kimย andย Ryan Yoon
5:09
2026๋…„, ํ•œ๊ตญ ๊ธฐ๊ด€๋“ค์˜ ์•”ํ˜ธํ™”ํ ์‹œ์žฅ ์ง„์ถœ ์ด์ •๋ฆฌ
๊ตญ๋‚ด ์€ํ–‰๊ณผ ์ฆ๊ถŒ์‚ฌ๊ฐ€ ๊ฑฐ๋ž˜์†Œ ์ง€๋ถ„์„ ํ™•๋ณดํ•˜๋ฉฐ STO, ์Šคํ…Œ์ด๋ธ”์ฝ”์ธ, ์ˆ˜ํƒ ์‹œ์žฅ์˜ ์ฃผ๋„๊ถŒ ๊ฒฝ์Ÿ์— ๋‚˜์„œ๊ณ  ์žˆ์Šต๋‹ˆ๋‹ค. ํƒ€์ด๊ฑฐ๋ฆฌ์„œ์น˜๊ฐ€ 150๊ฐœ ๊ธฐ๊ด€, 196๊ฐœ ํŒŒํŠธ๋„ˆ์‹ญ์„ ๋ถ„์„ํ–ˆ์Šต๋‹ˆ๋‹ค.
ย โ€ขย Henry Kimย andย Ryan Yoon
7:57
Circle Internet Group (CRCL): The Start of Full Vertical Integration
Listen now | Circle has released its Q1 2026 earnings report.
ย โ€ขย Ekko anย andย Ryan Yoon
5:39
์„œํด ์ข…๋ชฉ ๋ถ„์„: 2026๋…„, ์ „๋ฉด์ ์ธ ์ˆ˜์ง ๊ณ„์—ดํ™”์˜ ์‹œ์ž‘
์„œํด์ด 2026๋…„ 1๋ถ„๊ธฐ ์„ฑ๊ณผ ๋ณด๊ณ ์„œ๋ฅผ ๊ณต๊ฐœํ–ˆ์Šต๋‹ˆ๋‹ค.
ย โ€ขย Ekko anย andย Ryan Yoon
6:59
์ฃผ์‹ ํ† ํฐํ™”, ๊ธฐ์กด ์ „ํ†ต ๊ธˆ์œต ๊ฑฐ๋ž˜์†Œ์—์„œ๋Š” ๋ฌด์—‡์„ ์žƒ๋Š”๊ฐ€?
ํƒ€์ด๊ฑฐ๋ฆฌ์„œ์น˜๊ฐ€ ๋ถ„์„ํ•œ ๋ฏธ SEC ์ฃผ์‹ ํ† ํฐํ™” ํ˜์‹  ๋ฉด์ œ ๊ฐ€์ด๋“œ๋ผ์ธ. ์œ ๋™์„ฑ๊ณผ ์ˆ˜์ต ํŒŒํŽธํ™”๊ฐ€ ์ „ํ†ต ๊ธˆ์œต๊ธฐ๊ด€ ๋ฐ RWA ์‹œ์žฅ์— ๋ฏธ์น  ํŒŒ๊ธ‰๋ ฅ์„ ํ™•์ธํ•˜์„ธ์š”.
ย โ€ขย Ryan Yoon
Tokenized Stocks: What Traditional Exchanges Stand to Lose
Discover Tiger Research's analysis on the US SEC's stock tokenization framework, its impact on liquidity fragmentation, and the rise of RWA on Perpโ€ฆ
ย โ€ขย Ryan Yoon
Onchain Risk Curators: $147T vs $7B Market Gap
Analyzing the $7B on-chain risk curator market against a $147T traditional asset management industry. This report breaks down the strategies of topโ€ฆ
ย โ€ขย Henry Kimย andย Ryan Yoon
6:30
$147T vs $7B, ์˜จ์ฒด์ธ ๋ฆฌ์Šคํฌ ํ๋ ˆ์ดํ„ฐ ์‹œ์žฅ ๋ถ„์„
$147์กฐ ์ „ํ†ต ์ž์‚ฐ์šด์šฉ ์‹œ์žฅ ๋Œ€๋น„ $7B์— ๋ถˆ๊ณผํ•œ ์˜จ์ฒด์ธ ๋ฆฌ์Šคํฌ ํ๋ ˆ์ดํ„ฐ ์‹œ์žฅ์˜ ๊ตฌ์กฐ์™€ ์„ฑ์žฅ ๊ฐ€๋Šฅ์„ฑ์„ ๋ถ„์„ํ•ฉ๋‹ˆ๋‹ค. Steakhouse, Sentora, Gauntlet ๋“ฑ ์ƒ์œ„ ํ”Œ๋ ˆ์ด์–ด์˜ ์ „๋žต๊ณผ ํ•จ๊ป˜, ์ „ํ†ต ๊ธˆ์œต์‚ฌ๊ฐ€ DeFi์— ์ง„์ž…ํ•˜๋Š” ์„ธ ๊ฐ€์ง€โ€ฆ
ย โ€ขย Henry Kimย andย Ryan Yoon
6:45
ํด๋ž˜๋ฆฌํ‹ฐ ๋ฒ•์•ˆ ํ†ต๊ณผ, ๋‹น์‹ ์ด ํ•ด์•ผ ํ•  6๊ฐ€์ง€ ๋น„์ฆˆ๋‹ˆ์Šค
๋ฏธ๊ตญ ์ƒ์› ์€ํ–‰์œ„๊ฐ€ ํ†ต๊ณผ์‹œํ‚จ ํด๋ž˜๋ฆฌํ‹ฐ ๋ฒ•์•ˆ(CLARITY Act)์˜ ํ•ต์‹ฌ ๋ณ€๊ฒฝ ๋‚ด์šฉ์„ ๋ถ„์„ํ•ฉ๋‹ˆ๋‹ค. ์Šคํ…Œ์ด๋ธ”์ฝ”์ธ ๊ฐ„์ ‘ ์ด์ž ๊ธˆ์ง€, ํ•ฉ๋ฒ•์  ํ† ํฐ ๋ฐœํ–‰ ๊ฒฝ๋กœ, DeFi ๊ทœ์ œ ๋ฉด์ œ ์กฐํ•ญ์ด ๋งŒ๋“ค์–ด๋‚ผ ์ƒˆ๋กœ์šด ๋น„์ฆˆ๋‹ˆ์Šค ๊ธฐํšŒ๋ฅผ ์งš์–ด๋ด…๋‹ˆ๋‹ค.
ย โ€ขย Ekko anย andย Ryan Yoon
6:26
CLARITY Act Is Law: 6 Businesses to Move On Now
The Senate Banking Committee passed the CLARITY Act. We break down what changed on stablecoin yield, token issuance, and DeFi exemptions โ€” and what itโ€ฆ
ย โ€ขย Ekko anย andย Ryan Yoon
5:22
On-Chain to RWA. The New DeFi Base Built on Yield-Bearing Stablecoins
Listen now | Ethenaโ€™s declining sUSDe share does not signal a failure of the protocol.
ย โ€ขย Henry Kimย andย Ryan Yoon
5:22
์˜จ์ฒด์ธ์—์„œ RWA๋กœ: ์ˆ˜์ตํ˜• ์Šคํ…Œ์ด๋ธ”์ฝ”์ธ์ด ์žฌ์„ค๊ณ„ํ•˜๋Š” DeFi์˜ ์ƒˆ๋กœ์šด ํ† ๋Œ€
Listen now | ์—ํ…Œ๋‚˜์˜ sUSDe ์ ์œ  ํ•˜๋ฝ์€ ์—ํ…Œ๋‚˜์˜ ์‹คํŒจ๊ฐ€ ์•„๋‹ˆ๋ผ ์‹œ์žฅ์˜ ๋ณ€ํ™”๋ฅผ ๋ณด์—ฌ์ค๋‹ˆ๋‹ค.
ย โ€ขย Henry Kimย andย Ryan Yoon
7:01
2026 Know Your Agent: Agent Identity Infrastructure
AI agents now execute contracts and payments autonomously, yet there is no common standard to verify who they are. This report analyzes the KYA (Knowโ€ฆ
ย โ€ขย Ekko anย andย Ryan Yoon
6:57
2026 Know Your Agent: ์—์ด์ „ํŠธ ์‹ ์› ์ธํ”„๋ผ
AI ์—์ด์ „ํŠธ๊ฐ€ ์ž์œจ์ ์œผ๋กœ ๊ณ„์•ฝ๊ณผ ๊ฒฐ์ œ๋ฅผ ์‹คํ–‰ํ•˜๋Š” ์‹œ๋Œ€, ์ •์ž‘ ๊ทธ ์—์ด์ „ํŠธ๊ฐ€ ๋ˆ„๊ตฌ์ธ์ง€ ๊ฒ€์ฆํ•  ๊ณตํ†ต ๊ธฐ์ค€์ด ์—†๋‹ค. ์ด๋”๋ฆฌ์›€ ERC-8004, Visa TAP, Trulioo DPA, Sumsub์˜ KYA ํ‘œ์ค€ ๊ฒฝ์Ÿ์„ ๋ถ„์„ํ•˜๊ณ , 2019๋…„ FATF Travel Rule์ฒ˜๋Ÿผโ€ฆ
ย โ€ขย Ekko anย andย Ryan Yoon
6:07
BlackRock BUIDL: $2.63B On-Chain Reserve Asset
Explore Tiger Researchโ€™s analysis of BlackRock BUIDLโ€™s $2.6B growth. Learn how DeFi protocols like Ethena and Ondo use BUIDL as a core on-chain reserveโ€ฆ
ย โ€ขย Henry Kimย andย Ryan Yoon
5:47
๋ธ”๋ž™๋ก(BlackRock)์˜ BUIDL, $2.63B์˜ ์˜จ์ฒด์ธ ๊ธฐ์ดˆ ์ž์‚ฐ์ด ๋˜๋‹ค
ํƒ€์ด๊ฑฐ ๋ฆฌ์„œ์น˜๊ฐ€ ๋ถ„์„ํ•œ ๋ธ”๋ž™๋ก BUIDL์˜ 26์–ต ๋‹ฌ๋Ÿฌ ์„ฑ์žฅ ์ „๋žต. ์—ํ…Œ๋‚˜, ์˜จ๋„ ๋“ฑ ๋””ํŒŒ์ด ํ”„๋กœํ† ์ฝœ์ด BUIDL์„ ํ•ต์‹ฌ ์˜จ์ฒด์ธ ์˜ˆ์น˜ ์ž์‚ฐ์œผ๋กœ ์„ ํƒํ•œ ์ด์œ ๋ฅผ ํ™•์ธํ•˜์„ธ์š”.
ย โ€ขย Henry Kimย andย Ryan Yoon
7:45
Zero Lies: How Next FTX Will Be Solved
Explore Tiger Researchโ€™s analysis of Nexus: a verifiable finance stack using ZK-proofs to ensure transparency for AI agents and global liquidity via itsโ€ฆ
ย โ€ขย Ryan Yoon
5:28
๋„ฅ์„œ์Šค(Nexus): FTX์˜ ๊ตํ›ˆ, AI ์—์ด์ „ํŠธ ์‹œ๋Œ€์— ๋‹ค์‹œ ์“ฐ๋‹ค.
Tiger Research๊ฐ€ ๋ถ„์„ํ•œ ๋„ฅ์„œ์Šค ๋ณด๊ณ ์„œ: ์˜์ง€์‹ ์ฆ๋ช… ๊ธฐ๋ฐ˜์˜ ๊ฒ€์ฆ ๊ฐ€๋Šฅํ•œ ๊ธˆ์œต(Verifiable Finance)๊ณผ L1ยท๊ฑฐ๋ž˜์†ŒยทUSDX๊ฐ€ ๊ฒฐํ•ฉ๋œ ํŠธ๋ผ์ดํŽ™ํƒ€ ์ „๋žต์„ ํ™•์ธํ•˜์„ธ์š”.
ย โ€ขย Ryan Yoon
7:05

April 2026

DeFiโ€™s Dopamine Hit Is Over. RWA Offers Something Real.
Discover how RWA is reviving DeFi. Tiger Research explores the shift from high-yield "dopamine" farming to institutionalized on-chain finance featuringโ€ฆ
ย โ€ขย Henry Kimย andย Ryan Yoon
5:58
๋„ํŒŒ๋ฏผ์ด ์‚ฌ๋ผ์ง„ DeFi, RWA๋กœ ๋˜์‚ด์•„๋‚˜๋‹ค
๋„ํŒŒ๋ฏผ์ด ์‚ฌ๋ผ์ง„ ๋””ํŒŒ์ด, RWA๋กœ ๋ถ€ํ™œํ•˜๋‹ค. ํƒ€์ด๊ฑฐ๋ฆฌ์„œ์น˜๊ฐ€ ๋ถ„์„ํ•œ 2026๋…„ ์˜จ์ฒด์ธ ๊ธˆ์œต์˜ ๋ฏธ๋ž˜์™€ ๋ธ”๋ž™๋ก, ์•„ํด๋กœ ๋“ฑ ๊ธฐ๊ด€๋“ค์˜ RWA ์‹œ์žฅ ์ง„์ž… ์ „๋žต์„ ํ™•์ธํ•˜์„ธ์š”.
ย โ€ขย Henry Kimย andย Ryan Yoon
6:40
Payments 3.0 The AI Agent Payments Market
The agent payment standards war has begun. Google, OpenAI, Visa, Mastercard, Stripe, Coinbase, and Circle have each rolled out their own protocols. Aโ€ฆ
ย โ€ขย Ekko anย andย Ryan Yoon
19:38
๊ฒฐ์ œ ์‹œ์žฅ 3.0: AI ์—์ด์ „ํŠธ ๊ฒฐ์ œ ์‹œ์žฅ ๋ถ„์„
์—์ด์ „ํŠธ ์‹œ๋Œ€ ๊ฒฐ์ œ ํ‘œ์ค€ ์ „์Ÿ์ด ์‹œ์ž‘๋๋‹ค. ๊ตฌ๊ธ€, ์˜คํ”ˆAI, ๋น„์ž, ๋งˆ์Šคํ„ฐ์นด๋“œ, ์ŠคํŠธ๋ผ์ดํ”„, ์ฝ”์ธ๋ฒ ์ด์Šค, ์„œํด์ด ๊ฐ์ž์˜ ํ‘œ์ค€์„ ๋“ค๊ณ  ๋‚˜์™”๋‹ค. ์—์ด์ „ํ‹ฑ ์ปค๋จธ์Šค์™€ ํŽ˜์ดํผ์ฝœ ๋‘ ์‹œ์žฅ์—์„œ ๋ˆ„๊ฐ€ ์–ด๋–ป๊ฒŒ ํ‘œ์ค€์„ ์„ธ์šฐ๊ณ  ์žˆ๋Š”์ง€, ๊ทธ๋ฆฌ๊ณ  ๋ˆ„๊ฐ€ ์ตœ์ข… ์Šน์ž๊ฐ€ ๋ ์ง€ ๋ถ„์„ํ•œ๋‹ค.
ย โ€ขย Ekko anย andย Ryan Yoon
9:56
Perle Labs Listing Delay: The Tokenomics Problem No One Can Verify
Explore the Perle Labs ($PRL) listing controversy on Upbit. Tiger Research explains how opaque ecosystem allocations create insider trading risks andโ€ฆ
ย โ€ขย Ryan Yoon
ํŽ„ ๋žฉ์Šค(Perle Labs) ์ƒ์žฅ ์ง€์—ฐ, ๋ˆ„๊ตฌ๋„ ์•Œ ์ˆ˜ ์—†๋Š” ํ† ํฌ๋…ธ๋ฏน์Šค์˜ ๋ฌธ์ œ
์—…๋น„ํŠธ ํŽ„ ๋žฉ์Šค($PRL) ์ƒ์žฅ ์ง€์—ฐ ์‚ฌํƒœ์˜ ์ง„์‹ค. ํƒ€์ด๊ฑฐ ๋ฆฌ์„œ์น˜๊ฐ€ ํ† ํฌ๋…ธ๋ฏน์Šค ๋‚ด ์—์ฝ”์‹œ์Šคํ…œ ๋ฌผ๋Ÿ‰์˜ ํˆฌ๋ช…์„ฑ ๋ฌธ์ œ์™€ ์ต๋ช…์„ฑ ๋’ค์— ์ˆจ๊ฒจ์ง„ ๊ตฌ์กฐ์  ํ•œ๊ณ„๋ฅผ ์‹ฌ์ธต ๋ถ„์„ํ•ฉ๋‹ˆ๋‹ค.
ย โ€ขย Ryan Yoon
DeFi United: United We Stand, Divided We Fall
Analyze the KelpDAO exploit and Aaveโ€™s $190M bad debt crisis. Explore how DeFi United aims to save the ecosystem and the risks of a looming bank run.
ย โ€ขย Ryan Yoonย andย Henry Kim
DeFi United, ๋ญ‰์น˜๋ฉด ์‚ด๊ณ  ํฉ์–ด์ง€๋ฉด ์ฃฝ๋Š”๋‹ค
Key Takeaways
ย โ€ขย Henry Kimย andย Ryan Yoon
์ฃผ์‹ยท์•”ํ˜ธํ™”ํยท๋ฒ ํŒ…์ด ํ•œ ๊ณณ์œผ๋กœ: ํด๋ฆฌ๋งˆ์ผ“ ๋ฌด๊ธฐํ•œ ์„ ๋ฌผ ๊ฑฐ๋ž˜ ์ถœ์‹œ๋กœ ์—ฟ๋ณผ ์ˆ˜ ์žˆ๋Š” ๋ฏธ๋ž˜
ํด๋ฆฌ๋งˆ์ผ“์˜ ๋ฌด๊ธฐํ•œ ์„ ๋ฌผ ์ถœ์‹œ๋กœ ๋ณด๋Š” ๊ธˆ์œต์˜ ๋ฏธ๋ž˜. ์ฃผ์‹, ์ฝ”์ธ, ์˜ˆ์ธก ์‹œ์žฅ์ด ํ•˜๋‚˜๋กœ ํ•ฉ์ณ์ง€๋Š” โ€˜๋กœ๋นˆํ›„๋“œ ๋ชจ๋ธโ€™๊ณผ ๋‹ด๋ณด๋ฌผ ํ™œ์šฉ์˜ ์ค‘์š”์„ฑ์„ ๋ถ„์„ํ•ฉ๋‹ˆ๋‹ค.
ย โ€ขย Ryan Yoon
One Platform, All Assets: What Polymarketโ€™s Perpetuals Launch Reveals
Key Takeaways
ย โ€ขย Ryan Yoon
26Q2 Bitcoin Valuation Report: $143,000 โ€” 2x Upside
Read the Q2 2026 Bitcoin valuation report targeting a $143,000 price and 2x upside. Explore an in-depth analysis of macro tailwinds, ETF inflows, andโ€ฆ
ย โ€ขย Daniel Kim,ย Ryan Yoon,ย andย Jay Jo
5:08
26๋…„ 2๋ถ„๊ธฐ ๋น„ํŠธ์ฝ”์ธ ๋ฐธ๋ฅ˜์—์ด์…˜ ๋ฆฌํฌํŠธ, $143,000 2๋ฐฐ ๊ฐ„๋‹ค
2026๋…„ 2๋ถ„๊ธฐ ๋น„ํŠธ์ฝ”์ธ ๋ชฉํ‘œ๊ฐ€ 14๋งŒ 3์ฒœ ๋‹ฌ๋Ÿฌ ๋ฐ 2๋ฐฐ ์ƒ์Šน ์—ฌ๋ ฅ์„ ๋ถ„์„ํ•œ ์ „๋ง ๋ณด๊ณ ์„œ์ž…๋‹ˆ๋‹ค. ETF ์ž๊ธˆ ์ˆœ์œ ์ž…, ๋งคํฌ๋กœ ์œ ๋™์„ฑ ํ™•์žฅ, ์˜จ์ฒด์ธ ์ง€ํ‘œ ๋ณ€ํ™”๋ฅผ ๋ฐ”ํƒ•์œผ๋กœ ํ•œ ์ค‘์žฅ๊ธฐ ์ƒ์Šน ์‹œ๋‚˜๋ฆฌ์˜ค์™€ ํ•ต์‹ฌ ์ฒดํฌํฌ์ธํŠธ๋ฅผ ํ™•์ธํ•˜์„ธ์š”.
ย โ€ขย Ryan Yoon
8:05
ZachXBT vs. RAVE: Is a Clean Market What Degens Want?
Analyze ZachXBT vs. RAVE: Can crypto survive SEC-style surveillance? Tiger Research explores if degens prefer market integrity or the 4,500% volatilityโ€ฆ
ย โ€ขย Ryan Yoon
ZachXBT์˜ RAVE ์ €๊ฒฉ, ์šฐ๋ฆฌ๋Š” ์ง„์ • ๊นจ๋—ํ•œ ์‹œ์žฅ์„ ์›ํ• ๊นŒ?
ZachXBT ๋Œ€ RAVE ์‚ฌํƒœ ๋ถ„์„: ์•”ํ˜ธํ™”ํ ์‹œ์žฅ์— ๊ฐ•๋ ฅํ•œ ๊ทœ์ œ๊ฐ€ ๋„์ž…๋˜๋ฉด ์–ด๋–ป๊ฒŒ ๋ ๊นŒ์š”? ์‹œ์žฅ์˜ ํˆฌ๋ช…์„ฑ๊ณผ ๋””์  ๋“ค์ด ์›ํ•˜๋Š” 4,500% ์ˆ˜์ต๋ฅ  ์‚ฌ์ด์˜ ๋ชจ์ˆœ์„ Tiger Research๊ฐ€ ์ง„๋‹จํ•ฉ๋‹ˆ๋‹ค.
ย โ€ขย Ryan Yoon
Web3 Hacks: What Does the Industry Need?
Hacks recur across Web3 exchanges and projects every year.
ย โ€ขย Ekko anย andย Ryan Yoon
6:45
์›น3 ์‚ฐ์—… ํ•ดํ‚น ์‚ฌ๋ก€, ๋ฌด์—‡์ด ์ •๋‹ต์ธ๊ฐ€?
์›น3 ๊ฑฐ๋ž˜์†Œ์™€ ํ”„๋กœ์ ํŠธ๋ฅผ ๋ง‰๋ก ํ•˜๊ณ  ํ•ดํ‚น ์‚ฌ๋ก€๊ฐ€ ๋งค๋…„ ๋‚˜ํƒ€๋‚˜๊ณ  ์žˆ์Šต๋‹ˆ๋‹ค.
ย โ€ขย Ekko anย andย Ryan Yoon
6:22
Tether's Drift Bailout: What's Really Behind the $100M
Key Takeaways
ย โ€ขย Ryan Yoon
ํ…Œ๋”์˜ ๋“œ๋ฆฌํ”„ํŠธ 1์–ต ๋‹ฌ๋Ÿฌ ๊ตฌ์ œ์— ์ˆจ๊ฒจ์ง„ ์˜๋„๋Š”
Key Takeaways
ย โ€ขย Ryan Yoon
Citrea: Peter Thielโ€™s One Move on Bitcoin L2
Among a crowded field of Bitcoin Layer 2s, Citrea earned the backing of Founders Fund.
ย โ€ขย Ryan Yoon
5:19
์‹œํŠธ๋ ˆ์•„(Citrea), ํ”ผํ„ฐ ํ‹ธ์ด ๊ณ ๋ฅธ ๋น„ํŠธ์ฝ”์ธ L2 ํ•œ ์ˆ˜
ํ”ผํ„ฐ ํ‹ธ์€ ์ˆ˜๋งŽ์€ ๋น„ํŠธ์ฝ”์ธ L2 ์ค‘ ์™œ โ€˜์‹œํŠธ๋ ˆ์•„โ€™์— ๋ฒ ํŒ…ํ–ˆ์„๊นŒ?
ย โ€ขย Ryan Yoon
6:28
BOK's Circuit Breaker Recommendation: Is Importing TradFi Rules the Answer?
Key Takeaways
ย โ€ขย Ekko anย andย Ryan Yoon
ํ•œ์€์˜ ์„œํ‚ท๋ธŒ๋ ˆ์ด์ปค ๊ถŒ๊ณ , ์ „ํ†ต ๊ธˆ์œต ๊ทœ์ œ ์ ์šฉ์€ ์˜ณ์€ ๋ฐฉํ–ฅ์ธ๊ฐ€?
Key Takeaways
ย โ€ขย Ekko anย andย Ryan Yoon
ยฉ 2026 Tiger Research Inc. ยท Privacy โˆ™ Terms โˆ™ Collection notice
Start your SubstackGet the app
Substack is the home for great culture