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About Milk Road
Milk Road was founded by Shaan Puri and Ben Levy in February 2022 as a daily crypto newsletter on the Beehiiv platform. Within three weeks, it surpassed 16,000 subscribers, leveraging Puri's existing audience for rapid growth. In spring, the team publicly launched a $1 million crypto wallet as a marketing experiment, drawing significant attention.
Within six months, subscribers reached 100,000 and annual revenue run rate climbed to $1 million, primarily from sponsored ads. In December 2022, Milk Road was acquired by crypto media company Bitfo for a reported eight-figure sum; Puri joined Bitfo's board while Levy continued running the newsletter. The case illustrates an audience-driven media venture's fast build and monetization.
In the past six months (2026-03-15 to 2026-09-15), Milk Road's key developments:
- On April 29, announced an investment in Blockworks (), expanding its crypto media ecosystem.
- Published in-depth research: "The Era of Wartime Ethereum" analysis responding to Bankless's "Why I Sold My ETH", arguing ETH's potential is far from realized, with network usage at all-time highs and fees at all-time lows ().
- Covered macro topics such as the "AI Cold War Summit" ().
- Tracked a major regulatory shift: SEC and CFTC joint guidance classified most crypto tokens as commodities, not securities; Milk Road framed it as "the fight is over... for now" and stressed the CLARITY Act is needed to make rules permanent ().
Officially announced focus and roadmap: fully rebuilt Milk Road PRO as an "investor toolkit" offering real-time analyst portfolio tracking, high-conviction "shopping list", weekly trend research, and live AMAs — "guidance, not guesswork" (). It will continue covering crypto and AI intersections via daily newsletter, website, Twitter () and podcast.
Co-founder: Ben Levy (Co-Founder) .
Core executives: Kyle Reidhead (Co-Owner & Head of Research at Milk Road PRO) ; Thomas Pan (Head of Growth, ex-Ethereum Foundation/Pollen Labs Growth) ; Emin Hajdarevich (Head of Partnerships); Filipe Silva (Media Lead & Strategic Producer); Luka G. (People Operations Lead) .
Founded 2022, HQ in Dallas, financial media at the intersection of crypto, macro & AI.