Episode
Managing $2B+ in On Chain Assets, with KPK Co-Founder Marcelo Ruiz de Olano
- Podcast
- The Fintech Blueprint
- Published
- Sep 9, 2025
- Duration seconds
- 2486
- Processing state
not_requested- Canonical source
- https://lex.substack.com/
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Summary
In this episode, Lex speaks with Marcelo Ruiz de Olano, Co-Founder of KPK (Karpatkey), an on-chain asset management firm born out of Gnosis DAO. Marcelo recounts KPK’s evolution from stewarding Gnosis’s $1B treasury to advising on more than $2B for leading protocols like ENS, Balancer, and the Ethereum Foundation. The discussion dives into the mechanics of non-custodial treasury management - balancing governance, security, and risk - along with strategies across lending, liquidity provision, and stablecoin yields. Marcelo also shares why the rise of large Ethereum treasury companies could be a turning point for DeFi, injecting institutional-scale liquidity and potentially making ETH more liquid than Bitcoin.