Jonathan

The Arbitrum Security Council has taken emergency action to freeze the 30,766 ETH being held in the address on Arbitrum One that is connected to the KelpDAO exploit. The Security Council acted with input from law enforcement as to the exploiter’s identity, and, at all times, weighed its commitment to the security and integrity of the Arbitrum community without impacting any Arbitrum users or applications. After significant technical diligence and deliberation, the Security Council identified and executed a technical approach to move funds to safety without affecting any other chain state or Arbitrum users. As of April 20 11:26pm ET the funds have been successfully transferred to an intermediary frozen wallet. They are no longer accessible to the address that originally held the funds, and can only be moved by further action by Arbitrum governance, which will be coordinated with relevant parties.

hot take :) The biggest and most productive people in the AI era are the folks who are already good at their jobs. AI as a multiplier, not an equalizer/democratizer

Heading to Asia for the next few weeks to chat about stablecoins, tokenization, and the AI agent economy: Hong Kong - Shenzhen - Shanghai - Seoul. I'm always invigorated by feeling what's actually happening on the ground in Asia. It's more important than ever when you consider: 1) Hong Kong just granted its first two stablecoin licenses to @HSBC and a @StanChart JV to begin modernizing one of the world's oldest currencies. 2) "Raising lobsters" as THE viral phenomenon in China this year, where literal crowds gathered for public @openclaw workshops. 3) Shanghai is building cross-border blockchain rails for trade finance in the world's largest and busiest trading port by container throughput for the last 16 years running. 4) Shenzhen is running a blockchain-based trade verification platform to unlock credit rates as low as 3% for companies at the heart of the world's robotics industry. 5) South Korea holds more crypto investors than stock investors - 32% of the population holds digital assets - and just opened the market to ~3,500 listed companies + new stablecoin and market structure legislation. Excited to meet founders, institutions, investors, and partners across Asia + soak up a ton of learning & first-hand experience! First stop: speaking at the Hong Kong Web3 Festival (@festival_web3 ) next week. DM / find me if you're around!

@grahamfergs @consensus2026 🙋🏻‍♂️

Who is going to @consensus2026?

big shift in how Wall Street thinks about tokenization nowadays: tokenization isn't just a back-office experiment anymore, cutting costs & upgrading to 24/7 systems. it's the new front-office opportunity ($$$): net-new customers, AUM growth, global distribution, product creation. I got to dive into this in our latest episode of Stateful with Sandy Kaul, Head of Innovation at @FTI_US, and @iandebode, President at @OndoFinance. Trailblazers at the frontier of tokenized assets, who have partnered to bring Franklin Templeton ETFs onchain via Ondo. in this conversation, we discussed how capital markets are coming onchain: - 100% of Franklin Templeton’s digital asset AUM comes from net new crypto-native customers. - Ondo’s tokenized ETFs: permissionless, 24/7, usable as #DeFi collateral, like stablecoins for stocks - AI agents will need blockchain rails to execute 183 trillion in machine-to-machine transactions - a crypto whale bought $50M of Google stock in a single trade - smart wrappers vs. dumb wrappers: the future of assets is software first and #AI-native - the headline for "Mission Accomplished": net new inflows to on-chain tokenized products exceed off-chain flows - the "rookie mistakes" at the start of their tokenization journeys - what’s next for both: equities perps, on-chain portfolio construction, and Franklin Crypto’s multi-manager platform youtube.com/watch?v=TjzMZq…

Tokenization is no longer a back-office experiment. It’s the front office. Sandy Kaul from @FTDA_US and @iandebode from @OndoFinance join our Stateful podcast, hosted by @FranklinBi. In this episode, they discuss how capital markets are coming onchain: - 100% of Franklin Templeton’s digital asset AUM comes from net new crypto-native customers - Ondo’s tokenized ETFs: permissionless, 24/7, usable as DeFi collateral like stablecoins for stocks - AI agents will need blockchain rails to execute 183 trillion in machine-to-machine transactions - A crypto whale bought $50M of Google stock in a single trade. Education incoming. - The headline for mission accomplished: net new inflows to tokenized products exceed off-chain launches 01:57 Franklin Templeton Tokenizing in 2019 03:37 Proving Blockchain Efficiency to the SEC 04:30 The Transfer Agent Advantage 05:55 How Ondo Tokenizes Stocks and ETFs 08:15 How Ondo’s Tokenization Relate 09:05 Why Permissionless Wrappers Unlock Global Capital Markets 10:48 The Real Reason Crypto Wants 24/7 Trading Access 12:02 Stablecoins vs Web2 Fintech: Why Blockchain Wins 13:05 Real-Time Settlement: The Death of T+2 14:22 Smart Contracts That Program Investor Protections 16:29 24/7 Markets Create More Demand 17:02 Why AI Agents Need Tokenization 18:04 $183 Trillion in AI Agent Transactions by 2030 19:01 Legacy Systems Can't Handle Machine-to-Machine Commerce 20:17 Tokenization: The Bridge to Institutional Crypto Allocations 21:04 Why TradFi Needs Crypto's Innovation Stack 22:02 Permissionless Wrappers: Why KYC Doesn't Scale for Agents 23:37 The Moment Franklin Templeton Decided to Partner with Ondo 25:14 Why Permissionless Tokens Scare Traditional Firms 27:29 100% of Franklin's Digital Assets Come From Crypto Natives 30:01 Opening Net New Distribution Channels, Not Just Products 33:20 Success Metrics: Assets, Thought Partnership, and Experimentation 35:07 Educating Crypto Natives on Diversification and ETFs 36:53 When $200M Bitcoin Holders Discover Traditional Assets 38:14 The Generational Shift: Crypto Natives Meet TradFi

FX settlement is one of the last major pieces of financial infrastructure that hasn't been rebuilt for the internet. Super excited to work with @prabhakar2reddy, @karan705, @hm4nn and others on the amazing team at @openfx_!

We’re excited to announce that Ondo has partnered with Franklin Templeton (@FTDA_US), one of the world’s largest asset managers with $1.7T AUM. Together, we’re bringing exposure to Franklin Templeton-managed investment products onchain through Ondo Global Markets.

New episode out where I cover all things prediction markets with Jacob, the CEO and Co-founder at @Novig. We cover a lot of great topics including: - How Novig and prediction markets create a better market structure for sports betting - How typical sports bettors are evolving to become more sophisticated traders - Where prediction markets and how Novig plans to innovate - And some advice Jacob would give to new founders Worth the watch👇

Today we’re announcing that @NitraFinance has raised a combined $187 million in financing as we build the AI-native operating system for healthcare practices. We're also announcing that Dr. Richard Park, founder of CityMD and healthcare legend, will be joining Nitra’s Board.

Interesting. I think this would hold with almost every other exchange though. Definitely indicative of broader market demand for new tokens.

Payments are the easier part of agentic commerce. The hard part is coordination with the physical world. What happens when an agent orders physical goods cross-border? Shipping delays, lost packages, customs holds, quality disputes, etc. become the real friction to operating at scale because traditional dispute resolution was built for humans. Blockchains have the potential to bring verifiable trust systems into the agentic world, and it starts with financial rails ⬇️

: : [Report] 2026: The Year of Tokenized Stocks Although the potential of tokenized stocks is significant, the market size remains relatively small compared to stablecoins and tokenized treasuries. What are the underlying reasons? This report explores: ▪️Why the tokenized stock market is still in its early stages ▪️Four tokenization models for stocks ▪️Regulatory frameworks for tokenized stocks across different jurisdictions ▪️The business opportunities emerging around tokenized stocks Report summary 👇

If you’ve ever bet on traditional sportsbooks, you know about the scam lines, the -110 on both sides, getting bet limited as soon as you hit a few props, markets closing when you want to bet, lines moving against you the second you submit, etc etc. I could go on forever. Most accept this as necessary friction because they don’t know other options exist. @Novig is building a better platform for sports betting that flips the model and gives the edge back to the players. Shoutout to @veradittakit and @masonnystrom for leading the charge on this one!

We @PanteraCapital are excited to lead the Series B for @Novig , the leading sports prediction market Growing up, my dad had me read the sports section of the newspaper every day because he was a huge sports fan, now I get to combine my passion for sports, prediction markets, and blockchain/cryptocurrency together! Novig is disrupting the sports industry with a commission-free, better odds, betting platform. We are proud of the product and traction that @j__fort and Kelechi and the Novig team have produced so far. The future is bright as the company strives towards building the most efficient, liquid, and fair sports prediction market in the world!

A New Deal for Sports Markets Sports betting is a broken $2T market. The house bans winners, hides fees, & sets odds to guarantee it never loses. 98% of users lose by design. That’s why we led @Novig’s $75m Series B at @PanteraCapital, with @masonnystrom & @veradittakit leading the charge. Novig replaces the house with the open-air bazaar: a commission-free, direct exchange between users. Unlocked by prediction markets. On Novig, users set their own odds. 23% are profitable (vs. 2% on trad’l platforms). No vig, no bans, better odds. It’s a clear message to the DraftKings of the world: Your exploitation is our opportunity. In Novig’s first year, they’ve done $4B in annualized volume across 100k+ traders. They’ve filed their CFTC application to operate in all 50 states and are already on a tear in 2026. The mission is clear: re-platform a broken market and deliver a better, fairer product to users. Excited to be on this journey with @j__fort, Kelechi & our partners @multicoin @makersfundvc @ForerunnerVC @NFX 🔥 P.S. I’ve always found the “house” to be a curious term. Maybe this is Game of Thrones-coded, but it reminds me of the ancient lords and aristocrats who ruled and taxed their people mercilessly. What ever happened to those “houses”? 🧐