Alexander Grieve

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Alexander Grieve

Alexander Grieve

@AlexanderGrieve

DC stuff @paradigm | freedom isn’t free

Washington, DC Katılım Temmuz 2012
7.1K Takip Edilen10.2K Takipçiler
Alexander Grieve retweetledi
Mike Selig
Mike Selig@ChairmanSelig·
Today’s amicus brief represents the @CFTC’s continued effort to protect our jurisdiction over prediction markets from the ongoing campaign of state encroachment. As I’ve said repeatedly, the agency will not allow overzealous state governments to undermine our longstanding authority over these markets. Read more⬇️
CFTC@CFTC

.@CFTC Reaffirms Exclusive Jurisdiction Over Prediction Markets in Sixth Circuit Amicus Brief: cftc.gov/PressRoom/Pres…

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robertjdenault
robertjdenault@robertjdenault·
Leveraging FEC Data to screen campaign staff: Last week, NPR reported on several anonymous campaign staffers who claimed they had profited from trades they made on prediction markets which were placed ahead of polling drops for the campaigns they worked on. The reporting didn’t say which prediction market they traded on, but at Kalshi, campaign staff have always been prohibited from trading in election markets. All markets are subject to 24/7 surveillance on Kalshi, and we are conducting investigations and enforcement as usual. We also go beyond policing insider trading and try to preemptively block potential insiders from trading where possible. To that end, our team has ingested available data from the Federal Election Commission and is actively screening salaried federal campaign employees from trading on a campaign that they work for. This data helps us prevent or detect trading by campaign insiders. We plan to process similar data published at the state level where it’s available and block state campaign staff from trading on campaigns they’ve been associated with, too. Let me be abundantly clear: we police all kinds of insider trading and market manipulation at Kalshi. Congress is also considering a law specifically criminalizing campaign staff from trading on their own campaigns – but we aren’t waiting for additional legislation or regulation to take action on market integrity. If we find this type of activity on our platform, it will be referred to law enforcement and subject to exchange disciplinary action. I encourage all traders to heed the repeated warnings from companies like Kalshi, and from the CFTC and DOJ: engaging in insider or manipulative trading on federal exchanges can get you into serious trouble, and we are continuously working to prevent, detect, and punish it where we find it.
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Justin Slaughter
So, there isn’t much that actually merits discussion in this bill versus the prior draft. Here are the top five things that changed though along with three things that are still missing.
Brendan Pedersen@BrendanPedersen

News: The Senate Banking Committee has released a 309-page draft of crypto market structure legislation ahead of a markup scheduled for Thursday AM. The draft includes key compromises struck in recent days by lawmakers, including stablecoin yield restrictions. Bill text here >>

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Tarek Mansour
Tarek Mansour@mansourtarek_·
I am incredibly excited about Cloakroom Tony from the Senate joining Kalshi's policy team. Here's @SenJohnKennedy farewell to Tony:
Tony Hanagan@tonyhanagan

After 12 amazing years in the @SenateCloakroom, I have joined @Kalshi as Head of Congressional Affairs. I started in the Senate as a Page when I was 16 years old. I learned what it was like to be in the middle of everything on the Senate Floor. I wanted to work there. Kalshi is innovating the world today. I want to work here.

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Patrick Witt
Patrick Witt@patrickjwitt·
I’m so impressed that Elizabeth Warren stayed up all night to read the 300+ pages of the CLARITY Act and deliver an objective assessment of the bill’s merits and not just some knee-jerk reaction. This is what true public service looks like.
John Bresnahan@bresreports

.@SenWarren, top Democrat on the Senate Banking Cmte, opposes the GOP crypto market structure bill released late last night

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Alexander Grieve
Alexander Grieve@AlexanderGrieve·
This bill is the result of many months of tireless, bipartisan negotiation and work. American founders, investors, and consumers deserve CLARITY. Let’s mark this up.
U.S. Senate Banking Committee GOP@BankingGOP

Chairman @SenatorTimScott, @SenLummis, and @SenThomTillis released market structure text ahead of this week’s markup.   The Senate’s CLARITY Act delivers clear rules of the road, protects investors, combats illicit finance, and keeps innovation in America. banking.senate.gov/newsroom/major…

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Adam Kovacevich
Adam Kovacevich@adamkovac·
Labor’s last minute opposition to the crypto market structure bill: - Substantively ridiculous; no one is forcing pension funds to use crypto - A surface level solidarity play rather than deep opposition; this isn’t a top 10 labor priority - They did this in the House too and it made no impact on House D persuadables. Won’t have any real impact on true Senate D persuadables either. cnbc.com/2026/05/12/con…
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Christian Catalini
Christian Catalini@ccatalini·
Nothing says "we let the AI write our policy memos" like citing an academic paper that argues the opposite of your position. @bankpolicy filed evidence against itself and called it advocacy. 🍿
Christian Catalini tweet media
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Ji Kim
Ji Kim@_jikim·
There is no loophole here. GENIUS was clear that any prohibition on rewards only extends to stablecoin issuers. Despite the existence of stablecoin rewards in the marketplace today, there has been no clear evidence of deposit flight or significant impact to bank lending (see, e.g., the WH CEA Report, FDIC Risk Report, etc.). We can agree to disagree on the rewards issue, but we should all agree that CLARITY will best position the U.S. for leadership in digital assets. The bill creates a framework that enables banks, crypto firms, and other financial institutions alike to responsibly engage in digital asset activities while protecting Americans, something we should all want for our country. In furtherance of this objective, bipartisan compromise language by Senators Tillis and Alsobrooks address purported concerns head on by barring any arrangement that is economically or functionally equivalent to the payment of interest on a bank deposit, extending the yield prohibition to third parties and affiliates, capturing “direct or indirect” payments, inserting anti-evasion language and strict penalties for violations or evasions, bolstering marketing restrictions, and studying alleged yield impacts on deposit flight. This language goes significantly beyond what is in GENIUS. Many, many concessions were made by the crypto industry in service of the ultimate objective: ensuring that the U.S. enacts comprehensive market structure legislation. This has to be our singular objective, or our country will cede market share and leadership to other jurisdictions. We need CLARITY, full stop.
Brendan Pedersen@BrendanPedersen

American Bankers Association CEO Rob Nichols sent the following letter on Sunday to every other bank CEO in the country, asking bankers for “immediate engagement” on stablecoin yield policy. Senate Banking Committee is slated to mark up landmark crypto bill Thursday

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Faryar Shirzad 🛡️
Faryar Shirzad 🛡️@faryarshirzad·
The bank trade lobbies’ arguments against stablecoins have lost all credibility. Let’s recap: - The supposed “deposit flight” risk is a fabrication and wildly overstated. - Fully-reserved stablecoins are plainly not the same as fractionally-reserved bank deposits. - Claims that stablecoins will destabilize the banking system ignore both their design and the safeguards built into GENIUS. - And complaints about “loopholes” in GENIUS are especially hard to take seriously from parties that were directly involved in negotiating the final language, and then boycotted the rewards talks in CLARITY. The @ABABankers letter ultimately says the quiet part out loud: this is about limiting competition and preserving incumbents’ control over payments. GENIUS creates clear rules and strong protections for dollar-backed stablecoins. Time to move on and get CLARITY to the floor.
Bernie Moreno@berniemoreno

🚨 The banking cartel is in full panic mode. 🚨 While Americans were celebrating Mother’s Day with their families, the CEO of the American Bankers Association sent a frantic alert to every bank CEO in the country, demanding “immediate engagement” to lobby Senators and kill stablecoins that would finally let everyday Americans earn real yields on their own money. This line in the letter sticks out: “we believe committee members may not be fully aware of the risks to the economy by the stablecoin loophole.” That’s both intellectually dishonest and simultaneously demeaning. First, there is no “loophole.” This entire issue was litigated during the GENIUS Act debate. @BillHagertyTN worked tirelessly on this issue and this statement is an insult to his and others work. For decades, these banks have treated your deposits like their personal piggy bank, paying you next to nothing while lending YOUR money out for massive profits and executive bonuses. During the Biden era, these same banks worked hand-in-glove with @SenWarren and her allies to debank Americans, including President Trump’s own family. They shut down accounts of conservatives, patriots, and anyone who dared challenge the regime, all while regulators applied pressure under schemes like Operation Choke Point 2.0. It wasn’t about risk. It was about political control. Now that innovative stablecoins threaten to break their monopoly and give you actual financial freedom? They’re running to Congress again, screaming about “threats to economic growth and financial stability.” Translation: Protect the racket at all costs. The Senate Banking Committee votes on landmark crypto legislation this Thursday. As a member of that committee, my message is clear: Hands off the people’s money. Let Americans choose real competition and better returns. No more shielding Wall Street from the future. The banking elite’s days of rigging the system and debanking their political enemies are over. Innovation, freedom, and the American people will win. I’m voting to break the cartel.

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Bernie Moreno
Bernie Moreno@berniemoreno·
🚨 The banking cartel is in full panic mode. 🚨 While Americans were celebrating Mother’s Day with their families, the CEO of the American Bankers Association sent a frantic alert to every bank CEO in the country, demanding “immediate engagement” to lobby Senators and kill stablecoins that would finally let everyday Americans earn real yields on their own money. This line in the letter sticks out: “we believe committee members may not be fully aware of the risks to the economy by the stablecoin loophole.” That’s both intellectually dishonest and simultaneously demeaning. First, there is no “loophole.” This entire issue was litigated during the GENIUS Act debate. @BillHagertyTN worked tirelessly on this issue and this statement is an insult to his and others work. For decades, these banks have treated your deposits like their personal piggy bank, paying you next to nothing while lending YOUR money out for massive profits and executive bonuses. During the Biden era, these same banks worked hand-in-glove with @SenWarren and her allies to debank Americans, including President Trump’s own family. They shut down accounts of conservatives, patriots, and anyone who dared challenge the regime, all while regulators applied pressure under schemes like Operation Choke Point 2.0. It wasn’t about risk. It was about political control. Now that innovative stablecoins threaten to break their monopoly and give you actual financial freedom? They’re running to Congress again, screaming about “threats to economic growth and financial stability.” Translation: Protect the racket at all costs. The Senate Banking Committee votes on landmark crypto legislation this Thursday. As a member of that committee, my message is clear: Hands off the people’s money. Let Americans choose real competition and better returns. No more shielding Wall Street from the future. The banking elite’s days of rigging the system and debanking their political enemies are over. Innovation, freedom, and the American people will win. I’m voting to break the cartel.
Bernie Moreno tweet mediaBernie Moreno tweet media
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Cody Carbone
Cody Carbone@CodyCarboneDC·
The arrogance is astounding. For months, the banking lobby refused to engage on stablecoin rewards. They didn’t make this a red line during the GENIUS Act. They didn’t stop the House from advancing CLARITY. Now, days before markup, after months of saying “we won’t negotiate,” they’re suddenly demanding “immediate engagement.” Bad faith policymaking. And an eleventh-hour attempt to protect incumbents from competition. Consumers deserve innovation, competition, and better financial products. Stablecoin rewards aren't radical. The banking lobby had every opportunity to engage constructively. Instead, they chose obstruction, delay, and now panic. Let's get going and move this forward. See ya Thursday.
Brendan Pedersen@BrendanPedersen

American Bankers Association CEO Rob Nichols sent the following letter on Sunday to every other bank CEO in the country, asking bankers for “immediate engagement” on stablecoin yield policy. Senate Banking Committee is slated to mark up landmark crypto bill Thursday

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Patrick Witt
Patrick Witt@patrickjwitt·
I specifically requested the attendance of Mr. Nichols and other bank trade CEOs at the meetings we hosted back in February to resolve the stablecoin rewards/yield issue. They refused. I guess the White House was beneath them? In their defense, I wouldn’t want to have to defend their position in public either.
Brendan Pedersen@BrendanPedersen

American Bankers Association CEO Rob Nichols sent the following letter on Sunday to every other bank CEO in the country, asking bankers for “immediate engagement” on stablecoin yield policy. Senate Banking Committee is slated to mark up landmark crypto bill Thursday

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Alexander Grieve
Alexander Grieve@AlexanderGrieve·
For those new to this: “Stablecoin” = singular noun or modifier. “Sending a stablecoin.” “Stablecoin yield.” “Stablecoin payments.” Not: “sending stablecoin”. “Stablecoins” = plural noun. “Customers buy goods using stablecoins.” “Compromise” = when both sides win some, lose some. Not: “banks successfully ban all new activity that threatens their profits.”
Bloomberg@business

Banking groups are floating last-minute changes to a compromise on stablecoin yield as a key Senate panel begins considering CLARITY Act bloomberg.com/news/articles/…

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Galaxy Research
Galaxy Research@glxyresearch·
The banks have it wrong on stablecoins. Our new report is the most comprehensive model on the impact of stablecoins on the banking system and Treasury market. - 60-70% of stablecoin growth under GENIUS will originate offshore - Imported deposits from offshore will exceed domestic deposit migration by roughly 2:1 - Each newly minted GENIUS stablecoin generates approximately 32 cents of net U.S. credit - Total credit expansion through 2030 is projected at ~$400 billion in our base case and ~$1.2 trillion in the bull case - Treasury bill yields compress by 3-5 basis points, saving taxpayers up to $3 billion annually in borrowing costs - Interest pass-through is not an existential threat to U.S. banking; it reallocates margin rather than eliminating capacity
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Palmer Luckey
Palmer Luckey@PalmerLuckey·
I started Oculus while I was living in a trailer working a minimum wage job. I spent years developing the technology and sold it less than 18 months after hiring my first employees. Most of the $2.3B purchase went to them on account of our shared ownership structure. Wish all you want, but you just aren't correct on this. Individual people create billions of dollars in value all the time.
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