JUST IN: A solo Bitcoin miner just won the modern-day lottery, solving an entire block worth $350,000. 🔥

We’re at a once-in-a-generation moment where technology, regulation, and demand are aligning to transform how capital markets function. Thanks for having me on @CNBC to chat about the future of the capital markets: tokenization of pubco shares!

RT @laine_sa_: Some might think tokenizing everything creates a supply shock where the chain is flooded with meaningless tokens. On the con…

🇺🇸 BILLIONAIRE JACK DORSEY JUST LAUNCHED AN APP WHERE USERS CAN SEND #BITCOIN WITHOUT INTERNET THIS IS MASSIVE!!!

There is no politically viable way to prevent inflation. Bitcoin is almost certainly going to play a major role in the lives of most Americans over the years to come.

Nothing to see here, just people exchanging fully private p2p digital cash without the internet

Been diving into how xStocks work and want to share some thoughts: Unlocking on-chain access to speculation on these companies is great and is likely to be very successful, in this regard I think xStocks is a great product, however I don't think it truly unlocks Internet Capital Markets. TL/DR - Not available in the United States, but lack of KYC on free-trading tokens means this is likely not enforced - Currently max 6,000 shares of each xStock company available on-chain (<$150k to buy all on-chain GME stock) - Underlying issuers have no direct connection to blockchain and can't raise capital on-chain (no ICM) - Upper limit to issuance means for some companies (TSLA) only 0.1% of stock can be traded on-chain under current prospectus - Uncertain counterparty risk with Jersey issuer, stock collateral held by custodian Breakdown of how xStocks work The tokens are EU registered securities issued by a Jersey company and minted by a Swiss company. Only KYC'd qualified purchasers can cause tokens to be issued or redeemed, and the Jersey company purchases the underlying stock as collateral. It is unclear what a bankruptcy of the Jersey entity might mean for xstock-holders or what the timeline for additional issuance is (hours/days?). The tokens can be traded freely on-chain, but existing shareholders cannot move their existing stock onto the blockchain, and any stock that is traded on-chain simultaneously exists with the custodian, the on-chain stock is not additional or in replacement of traditional stock. I've looked at about half a dozen of the prospectuses and all have the same maximum issuance of USD100m. For stocks like Tesla this means a maximum of 0.1% of the stock can be synthethised on-chain (MC of 1tn). Any issuance is subject to up to 0.5% fee and there is a 0.25% p.a. management fee. Currently of the half-dozen stocks I've checked (incl TSLA, MSTR, CIRC, GME, COIN & SPY) all have a token supply of 6,000. This means it isn't possible to buy more than 6,000 xstocks of any of these companies (that's less than $150k for GME for example). Some xStocks like Tesla have over 300 holders, others as few as 2. If you want to buy in size there is likely insufficient liquidity, however it seems probable that for those underlying with demand more xstocks will be created and collateralized (it is unclear who the counterparties are that deposit funds with Backed to cause further xstocks to be issued). So where does this leave us in terms of Internet Capital Markets? What is missing here is the link of the underlying issuer (e.g. Tesla) to the blockchain. Users can trade TSLA stock, but they're not direct owners of the company, and, most importantly, there is no mechanism by which TSLA, or any other xStock underlying issuer, can raise capital or interact with stockholders on the blockchain. In my view, a key piece of Internet Capital Markets is the ability for companies to access capital on-chain, this includes being able to raise funds through issuance, sell bonds, enable new geographic markets of shareholders and even being able to pay dividends on-chain (xStocks handles dividends through rebasing, i.e. reinvesting). It's a great step towards familiarizing users with traditional securities trading on the blockchain, and it is likely the best user experience to trade stocks, in this regard there has been a huge lift and we must give credit to Backed in being able to implement this. The major unlock of ICM will come when capital formation can directly benefit issuers, when we can see crypto-native companies launch on-chain IPOs or existing tradfi issuers migrate their stock on-chain, where shareholders can move existing stock from the Nasdaq to Raydium to access better liquidity or continuously trading markets.

Breaking: @solstrategies_ files Form 40-F with the US #SEC to trade on the US @NasdaqExchange under symbol "STKE" ("stake") Sol Strategies run by superstar @LeahWald and CTO @maxekaplan ex Kraken have been acquiring $SOL as their treasury asset, aquiring Solana Validators and investing in the Solana ecosystem. They have both frequented The Office Space and are changing the game with this move. NASDAQ: STKE shareholders will benefit from the yield generated by the validators and growth of stable coin economies on Solana.

I love merging my old world with my new! And they aren’t the only ETFs we’ve already been included in. So cool!

Thrilled and grateful to be included in @Vetta_Fi's indices tracked by @InvescoUS's BLKC and SATO ETFs! Honored to part of the blockchain and crypto economy revolution 🚀