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Bonk Eco continues to show strength amid $USELESS rally
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Pump.fun to raise $1B token sale, traders speculating on airdrop
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Boop.Fun leading the way with a new launchpad on Solana.
YettaS
- Investment Partner @primitivecrypto - Asia edge, Macro lens, Stablecoin nerd - PKU & Cal Alumni, PhD in Economics
I've seen a lot of discussions about Xinke in the comments. My observation is that AI as a direction for productivity is absolutely fine, but also because the evolution speed of AI is too fast, apart from that 0.1% of truly top-tier AI scientists, the rest might become collateral damage...
During my recent trip to the Bay Area, I felt this particularly deeply; the anxiety of big tech programmers is almost written on their faces. Microsoft has laid off over 15,000 people cumulatively by 2025, accounting for about 7% of its total workforce. The darkest humor is that they once established an 800-person "Efficiency and Cost Reduction Group" specifically to study how to use AI to save labor costs, and in the end, this group itself was cut by 200 people...
Meta, on the other hand, is both poaching talent at exorbitant prices (Matt, born in 2001, was just poached this August with a $250 million package) while maintaining a culture of "rank and yank," with quarterly eliminations, and is expected to lay off about 5% by 2025. In the coffee shops along the streets of the Bay Area, you can almost hear layoff news everywhere.
Another harsh reality is that PhDs from my cohort were all based on visual recognition machine learning back in the day. But this generation has completely switched to large language models and multimodal approaches. The paradigm shift has directly caused my classmates' packages to lag far behind the new PhDs who graduated in the last two years. The tide of the times cannot be stopped by anyone.
Additionally, the first validated track for AI is actually vibe coding. Writing code is inherently structured input + verifiable output, and it can also be highly globalized, making it the easiest field to be replaced by AI. Cursor and Cognition are both valued at around $10 billion, becoming the most direct use cases of this wave of AI.
Every generation feels like they are at the peak of the wave, but in reality, we are all just bubbles in the tide.
20.8. klo 15.12
Peking University's admission data over the past three years: the popularity of the School of Economics and the Guanghua School of Management has halved. In the past, top scorers were clustered here, but now the halo of finance has vanished...
We have an internal indicator: whenever students from Tsinghua and Peking University cluster in any industry, it basically signals the peak. Refined egoists cannot bear early risks; they excel at making marginal improvements in a competitive environment. The same goes for Ivy League MBA programs in North America.
19,64K
Peking University's admission data over the past three years: the popularity of the School of Economics and the Guanghua School of Management has halved. In the past, top scorers were clustered here, but now the halo of finance has vanished...
We have an internal indicator: whenever students from Tsinghua and Peking University cluster in any industry, it basically signals the peak. Refined egoists cannot bear early risks; they excel at making marginal improvements in a competitive environment. The same goes for Ivy League MBA programs in North America.
151,49K
Bill's podcast was the most hardcore conversation I've had this year, with very sharp questions that dug out a lot of our underlying investment logic.
At the time of recording, Circle hadn't gone public yet, and looking back now, many of the judgments have already started to be validated.
6.8. klo 20.14
In this episode of Bill It Up, we invited Yetta, a partner at Primitive Ventures, to engage in an in-depth conversation about Crypto, VC, and Web3. She pointed out that the current market cycle presents challenges for VC investors, who need to focus on researching and identifying structural opportunities in the market. Yetta specifically discussed the rise of Stablecoins, with a trading volume reaching 35 trillion, more than double that of Visa, with about 60% used for cross-border payments. Tether and Tron meet the demand in gray areas through distributed networks, while Circle gains an advantage in the US, European, and Japanese markets through a compliant approach, showing great potential for the future. She also noted that the Crypto industry exhibits a "dumbbell" trend: one end consists of institutional compliant players (like Circle and CME), while the other end features decentralized grassroots innovations. Finally, Yetta advised Gen Z to leverage AI to become "100x of themselves," focusing on the core opportunities in Crypto and diving in to grow rapidly. #Crypto #Web3 #VC
Key Quotes:
VC itself is venture capital, a life-and-death game, where breaking even on one or two deals is the norm.
The years 2017-2018 and 2021 were the boom periods for the crypto market; now we need to return to common sense.
The business models in Crypto can be boiled down to three types: capital costs, liquidity costs, and block space costs.
Stablecoins have created an "Alipay without Alipay," enabling global receiving, payment, and remittance.
The success of Tether and Tron stems from capturing the essential need for cross-border payments and establishing a distributed payment network.
Circle follows a compliant route, covering the US, Europe, and Japan, with great potential for the future.
The differentiation of public chains comes from user profiles; Ethereum leans towards stable returns, while Solana is transaction-driven.
New opportunities for public chains arise from changes in new users and asset allocators, similar to how Pinduoduo captured the lower-tier market.
Utilizing AI to become 100 times yourself, exploring areas of interest, and becoming a scarce resource.
11,31K
STRC is the largest IPO in 2025. this STRC design feels truly US Treasury-grade, no wonder could raise 2.5b.
Unlike STRF/STRD, it’s built to attract real fixed income capital.
- $2.5B IPO proceeds: 2–3 years of dividends without needing to sell BTC or refinance
- Floating yield, par stability: 9% monthly dividend adjustable by issuer to keep STRC trading near $100
- Downside protection: redeemable at $101 + accrued interest, with investor put on fundamental events
9,79K
YettaS kirjasi uudelleen
StablecoinX Inc. @stablecoin_x has announced a $360 million capital raise to purchase $ENA and will seek to list its Class A common shares on the Nasdaq Global Market under the ticker symbol "USDE", which includes a $60 million contribution of ENA from the Ethena Foundation
Equity markets will now have direct access and exposure to the most important emerging trend in all of finance:
The growth of digital dollars and stablecoins.
To bootstrap its acquisition strategy, StablecoinX Inc. will use all of the $260 million cash proceeds from the raise (less amounts for certain expenses) to buy locked ENA from a subsidiary of the Ethena Foundation.
Starting today, the Ethena Foundation subsidiary (via third-party market makers) will use 100% of the $260 million cash proceeds from the token sale to strategically purchase $ENA across publicly traded venues over the coming weeks, further aligning the Foundation’s incentives with those of StableCoinX shareholders.
The planned deployment schedule is approximately $5m daily from today over the course of the next 6 weeks. At current prices $260m represents roughly 8% of circulating supply.
Importantly, the Ethena Foundation has the right to veto any sales of $ENA by StableCoinX at its sole discretion. Ideally, tokens will never be sold with a sole focus on accumulation.
To the extent StableCoinX subsequently raises capital with the intent of purchasing additional locked ENA from the Ethena Foundation or its affiliates, cash proceeds from those token sales are planned to be used to purchase spot $ENA.
StableCoinX's treasury strategy is a deliberate, multi‑year capital allocation strategy that will enables StableCoinX to capture the enormous value of the secular surge in demand for digital dollars while compounding ENA per share to the benefit of shareholders.
767,22K
I don't see it that way, first introduce money into the chain through stablecoin payments, and with the inflow of funds, the on-chain economy will have the soil to grow more applications and innovations.
30.6.2025
If interest rates continue to be cut in the future, returning to the previous 1% era, it will be difficult for the stablecoin business.
6,8K
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