For all the "GENIUS stablecoins can't give rewards" people, go to 1:05:10 timestamp directly from @davidsacks47, the czar himself: "The bill allows for all sorts of marketing, promotions. ..there are mechanisms to create rewards for stablecoin holders..the mechanism is there."👇

@shayne_coplan we should catch up 👀

It’s that GENIUS Act growth 📈 Just the beginning for $FRAX.

L1 assets flowing to @fraxfinance L2 👀✍️

Historic win today for stablecoins, the dollar, & all US companies that have bet on American innovation, especially us at @fraxfinance that structured our roadmap early for first-to-market GENIUS compliant digital dollars. This is day 0 of a New Golden Era for crypto & the US! 🇺🇸

After reading by @DKokotajlo & @VitalikButerin's recent critiques, the most interesting part for me was actually the one thing the entire piece completely discounted, missed, and didn't even make any predictions about: what kind of money does AGI use between itself & all its different copies? The story kept talking about Agent-5 starting special economic zones (SEZ), copying itself millions of times, and then in between that randomly mentioning "the early human investors in the SEZs are now trillionaires" (implying US dollars). Is the AI-2027 position that US dollars would have similar value in 2027 after AGI? Would the Fed or interest rates even function or work in this kind of world? What does a trillion dollars even buy you from the Agent-5 AGI factories & superintelligence collectives? Do they even accept USD? Do they accept crypto, which crypto? Do they design their own novel currency that we can't comprehend because they're so smart? Do they create an AGI Fed for their AGI crypto fiat? Paradoxically, there's tons of human consumer abundance+UBI right before doomsday but also intense harnessing of Earth's raw materials to the limits so millions of AGI agents can design weapons, drones, chips etc. How does that work in practice before we all die? Do they abolish money entirely and elect Soviet style central planning AGI committees since they're superintelligent and know how to perfectly allocate resources among themselves & not fight? How can Agent-5 know which AI groups working on different drones, power plants, biotech, datacenters etc have the correct designs over other AI groups if there's no market competition between them? Do they not need competition because they're so smart? If so, the article should have made that claim in the story to make it make sense. The doomsday scenario got less & less believable as things went into the "point of no return." The authors had a total disregard/disinterest for the equally important prediction on AGI resource allocation by talking nonstop about how Agent-5 will harness all the raw materials on Earth while taking zero positions about money, markets, or economic structure of superintelligence and just assumed dollars still exist. I loved the entire article & commend the authors, just wished they touched on some kind of prediction for AGI resource allocation. I'm surprised Vitalik didn't bring it up in his critique either. It's a topic in AGI I'm particularly passionate about which has deep relevance to our industry in crypto/stablecoins/AI money/digital value.

we used to think we'd all replace the legacy financial system. but actually I'll take the consolation prize, which is the legacy financial system, comes to all the defi-onchain people, and say....hey, we're looking to issue a stablecoin. - sam kazemian

1/ BIG NEWS: the GENIUS Act just passed the Senate 🥳 This is a turning point for stablecoins in the US and the world. Frax is the most prepared project for this moment. Here's how we built $frxUSD with this exact future in mind 🧵

We asked @samkazemian about @dcfgod saying @fraxfinance is getting setup to win in the stables narrative. "Frax's vision has always been to make the holy grail of stablecoin design." "The collective consciousness of the industry has changed." "What people actually want is real legal digital dollars that go on blockchain rails." "The holy grail is a legal, safe, transparent digital dollar that the US government would actually consider a dollar."

Stablecoin supercycle shortlist $CRCL $AAVE $SKY $FRAX $ENA & without a doubt of course $ETH 🤝