Monday, October 20, 2025
Happy Monday everyone!
Our first-ever Smashi Crypto newsletter brings two big stories shaping the future of crypto and Web3. Dubai has teamed up with peaq to build the world’s first regulatory framework for the machine economy, signaling a bold step toward onchain robotics and DePIN innovation. Meanwhile, BitMEX chair Tom Lee draws a historic parallel, suggesting Ethereum could one day overtake Bitcoin — just like Wall Street flipped gold in the 1970s. Here’s your quick pulse on what’s moving the industry.
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Dubai Partners With Peaq To Regulate Machine Economy Using DePIN Network
📰 What is it about?
Dubai’s Virtual Assets Regulatory Authority (VARA) has signed an MoU with DePIN protocol peaq to create clear rules for onchain robotics and tokenized machines. The deal focuses on peaq’s Machine Economy Free Zone, where AI and robots can operate on blockchain. It also includes licensing support, training, and data sharing to shape future regulations.
💡 Why it matters?
This is a big step toward making Dubai a global hub for machine economy innovation. By setting clear rules early, Dubai aims to build trust for businesses and investors in robotics, AI, and blockchain-powered assets — making it easier for startups to launch legally and securely.
🔜 What’s next?
VARA and peaq will work together to test real-world machine use cases under the new framework. This could pave the way for robot-operated businesses, automated services, and new income streams from connected devices — all within a regulated crypto ecosystem.
Tom Lee Says Ethereum Could Flip Bitcoin Like Wall Street Flipped Gold
📰 What is it about?
BitMEX chair Tom Lee believes Ethereum could overtake Bitcoin’s market share just like US equities overtook gold after 1971’s “Nixon Shock.” He compared Ethereum’s potential rise to how the US dollar and stock markets became dominant after abandoning the gold standard. Currently, Bitcoin’s market cap is about $2.17 trillion — over four times larger than Ethereum’s $476 billion.
💡 Why it matters?
Lee argues that Ethereum could benefit as real-world assets like dollars, stocks, and real estate become tokenized. Similar to how Wall Street products fueled the dollar’s global dominance, Ethereum could become the backbone of a tokenized economy. This would challenge Bitcoin’s long-held position as the leading crypto asset.
🔜 What’s next?
Lee calls it a “working theory,” not a guarantee — but the debate over the “flippening” is heating up. If Ethereum continues to power stablecoins, DeFi, and tokenized assets, it could close the gap with Bitcoin in the coming years. However, Bitcoin remains the top crypto — for now.
