An article by a Blockchain Capital partner focuses on what it calls the core secret of arbitrage in the crypto sector. Using Tether, Circle, Ethena and RedotPay as examples, the piece explains a common strategy behind successful crypto companies: identifying gaps in markets or institutional structures, building a growth flywheel around those openings, and converting an early advantage into a more durable barrier.
The article frames arbitrage not merely as a trading tactic, but as a broader company-building approach. In this context, arbitrage means finding an area where demand, regulation, infrastructure or market behavior has not yet been fully connected, then using that gap as the starting point for growth. The emphasis is on turning a temporary edge into a long-term moat rather than relying only on the first opportunity itself.
The article also argues that founders in crypto need to become “bilingual.” This refers to the ability to speak both the language of crypto-native capital markets and the language of mainstream business, including compliance, institutional trust and consumer-grade products. According to the article, mastering both sets of capabilities is necessary for a project to move from cold start inside the crypto market to broader adoption beyond it.