Steph Vaughan

@perkinscr97 @binance

What did you do to my face and why did you turn me into Chandler @binance??? Who is this imposter?

@FTDA_US @FTI_Global Congratulations! They are very lucky to have you @perkinscr97

Today, we launched Franklin Crypto: a new dedicated, institutional-grade crypto investment management unit. Industry veterans Chris Perkins and Seth Ginns will co-lead Franklin Crypto alongside @FTI_Global’s Tony Pecore. To expand our existing suite of actively managed crypto and blockchain VC investment offerings, Franklin Templeton will acquire 250 Digital, led by Perkins (@perkinscr97 ) and Ginns @sethginns , formerly of CoinFund. As part of the agreement, all CoinFund liquid cryptocurrency strategies will be acquired to broaden our crypto investment platform. The transaction is expected to incorporate tokenized registered securities within its settlement structure, marking an important step toward conducting M&A transactions on chain.

@PaulFrambot 💯

Many posts about the Drift founder following the hack are straight-up misogynistic. No wonder so much female talent has left for other tech sectors. I haven't looked into the events of Drift, but Crypto's talent density is already too low, we don't need comments like that.

Recent joint guidance by the SEC and CFTC attempts to define a crypto asset issuer. Kudos to both agencies, since that's a difficult thing to do. @NYcryptolawyer explains why:

@DefiIgnas Unfortunately this is still true. Everyone needs to do better.

Crypto gave up building real DeFi years ago. What we have now is onchain finance. For me real DeFi means: - no admin keys that can modify or upgrade contracts (most are upgradable projects) - no multisig that can pause withdrawals, block addresses (like Hyperliquid) - no centralized oracle feed or offchain dependencies that a single provider can manipulate (Aave falls here) And no governance token concentration that lets one entity do whatever it wants. In this sense only Uniswap falls under pure DeFi. Perhaps Curve too. Even OG MakerDAO had dependency on oracles but pivoted to pure onchain finance protocol. Or Reflexer's RAI that didn't target direct $1USD peg needed oracle. Liquity V1 was a good try but still needed oracles. a16z vision of 'progressive decentralization' was a right one, but we gave up on it. So blaming Drift for not being DeFi is true, but basically nothing is.

Bitcoin is more vulnerable to quantum cryptography than traditional institutions like banks, says @apruden08 "One reason is obvious. Satoshi — who we think has gone away or died or something — their early bitcoin hasn't moved. There's a bunch of lost coins. All in all, about 15% of bitcoin supply is estimated to be lost. That's hundreds of billions of dollars. That's a huge incentive." "Let's take the counterexample of if someone wanted to hack into a bank or something. As you pointed out, banks are centralized, they can react. Also, the way that banks implement their cryptography is just one of many layers of security." "Theoretically, if someone tried to wire all the money out of my account, my bank would call me." "That's not true for Bitcoin. All I need is one signature and all of Satoshi's, Coinbase's, or Binance's bitcoin is mine. There's no fallback."

@arrington 🚀🌕

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@Vault__Summit @PaulFrambot @cmoyall @andyyy 🔥

Christine Moy (@cmoyall), Paul Frambot (@PaulFrambot), and Andy C (@andyyy) discussed how vaults are converging with institutional asset management. From onchain credit to global liquidity, vaults are becoming the new financial rails:

@GoodStephV @sethginns Thanks, Marine. Deeply appreciate your partnership.

@danrobinson @thecolinmclaren Just some light market manipulation.

Never do April Fool’s Day Never ever do April Fool’s Day as a company Never, ever, ever do April Fool’s Day as a company with a token

Congratulations @sethginns @perkinscr97 and the CoinFund Liquid team! Amazing news. 🚀🌕

Happy Tuesday! Spring skiing ⛷️

Few things less enjoyable in DeFi than redeeming your “bitcoin wrapper” and being charged 30bps in the process. Terrible UX.

@GivnerAriel Sick

Another big bank paying up for Epstein’s crimes! Bank of America just settled for $72.5 million with Jeffrey Epstein's victims, who accused the bank of ignoring red flags and profiting from his sex trafficking operation for years. No admission of guilt, of course… JPMorgan paid $290M, Deutsche Bank $75M. Me thinks we’re seeing a pattern!

When I returned home from the war in Iraq, It was the Vietnam veterans who stepped in to look after me. Their manta, “We are going to make sure that what happened to us when we came home…NEVER happens to you.” They protected me. They served as role models. They opened doors for me. And they gave me a new life. I am forever grateful.

So great to be able to join for this 💕

Slowly but steadily intents become the interface to blockchains

@drwconvexity @perkinscr97 Ugh Chris ratioed 😊

Payment for order flow requires an order to be either matched within the NBBO or routed to the best available price on a venue. The is a far cry from being able to trade in front of an order that is going to have market impact. I am not a fan of PFOF, but it is benign compared to MEV.

TradFi has payment for order flow (PFOF). Crypto has Maximum Extract Value (MEV). They are not the same. But, they aren’t too different either.

@xenowits And then Friday…. :)

@GoodStephV was a great week though, right?

The real work done at DAS. Monday: Go to DAS, Tuesday: talk about “real yield” and the institutions finally adopting DeFi. Wednesday: tweet about vaults and take selfies with the right people while drinking with your buddies. Thursday: fly home, tell your wife it was a productive week. Friday: watch the market unravel more.

Does the @USMC have a mounted color guard? Yes. Do they look better than anything the Army could put on a horse? Also yes. #OldAndGnarly