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Alex Gillette
16.4K posts
Alex Gillette
@CallMeGillette
VP @lightspark | Founding Team @twifintech (acq. @Plaid) | 12+ years in B2B Fintech | 👼Investor | Views are my own
Katılım Mart 2009
3.4K Takip Edilen3.8K Takipçiler
PLOT TWIST: it’s just Penn Station on a 90+ degree day.
Morris & Essex Line@NJTRANSIT_ME
Attention NJT Rewards Members! Step into the heart of NYC for a fast-paced, mind-bending escape room adventure at Escape Room Madness. Solve puzzles, crack codes, and race the clock with your team. Perfect for friends, families, and team building. NJT Rewards members save 25% on weekday games. For more info visit: njtrewards.com/offerdetail?of…
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Pete Crow-Armstrong on the red carpet
Philadelphia, PA 🇺🇸 English
🇨🇦🇨🇦🇨🇦
Rory O'Reilly@RoryOReilly
I'm thrilled to announce that Knot is expanding into Canada, partnering with @RBC, the country's largest bank. For years, we've built the merchant connectivity layer across the U.S., linking the people, financial institutions, and merchants behind everyday spend. Now, we're taking it international with RBC. RBC didn't become Canada's largest bank by standing still. They move early, they invest in their clients, and they push the industry forward. That is exactly the kind of partner we want to be building alongside. For RBC cardholders, the experience is seamless. From the moment a card is in hand, their spend follows it across the merchants and subscriptions they rely on. No reentering details, no failed charges, no gaps when a card is reissued. Canada is our first market beyond the U.S., and it won't be the last. Huge thanks to the RBC team for being such great partners.
ART
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Today, @FlexSuperApp, raised $70M Series B1 to launch The Full Financial Home for Business Owners. Making Flex officially a unicorn.
Led by @RyanQualtrics and @ryanjsweeney’s @halo_fund, with participation from existing investors.
And we're introducing Flex Global.
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Anybody else excited for this event hosted by @Jason tomorrow?
Well you shouldn't be, it's fake, and a pretty clear Social Engineering attempt -- reads like The Lazarus Group.
Reminder not to join webconf or zoom links or download anything you don't recognize. Could be malware.
@MixilyEvents you have fraudsters using your platform for scams.
mixily.com/event/38552890…
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@defyneric @FlexSuperApp Eric’s been promoted to Chief X Officer
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They did this dog dirty with the image, old boy hanging on for dear life.
BBC News (UK)@BBCNews
Dog rescued from Ben Nevis suspected to have eaten discarded cannabis bbc.in/3QT6S5Y
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@segall_max Did you also get rugged at the United Terminal C lounge “coffee bar” when they dropped a pod in?
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In almost two decades of building together, @tobi has never once hesitated to stand with me when antisemitism shows up. No hedging. No silence. Just shoulder to shoulder, every f’ing time.
That is what real friendship look like.
tobi lutke@tobi
“I’ve now been disrupted at a podcast about Jewish entrepreneurs, at the opening of a Jewish community centre, and at a fireside chat about building companies. None of those events had anything to do with politics. The only common thread is me, a proud Jew, on a stage.” Thank you @harleyf for saying it like it is. nationalpost.com/news/shopify-h…
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@DeFi_Cheetah @defyneric True. Airtm, dozens of other have done this for years. Consumers/businesses don’t care as long as it’s invested safely (generally) and they can get their dollars out when they need them.
Regulators don’t care as long as it’s disclosed.
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@defyneric @CallMeGillette I believe this is what Kast has been doing as seen from its previous terms and conditions if I don’t understand it wrongly
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This is illegal.
In the US, the FTC and the Consumer Financial Protection Bureau (CFPB) enforce rules against Unfair, Deceptive, or Abusive Acts or Practices (UDAAP).
Hence, if a customer deposits USDC or USD, and the UI displays a "USD" or "USDC" balance, but the underlying asset is actually a proprietary, untested stablecoin, this is a material misrepresentation. Crypto card customers have the legal right to know exactly what asset they hold and the counterparty risks associated with it.
Hiding this fact is textbook deception. Don’t do that.
eric@defyneric
one of the biggest monetization opportunities for wallets and neobanks is launching their own stablecoin: @phantom recently launched solana:CASHx9KJUStyftLFWGvEVf59SGeG9sh5FfcnZMVPCASH through @stablecoin, and it’s already sitting at a market cap of $125M. at a 3.75% yield, that’s roughly ~$4.7M in annual revenue generated from idle assets sitting inside the app. i don’t think most wallets or neobanks should try to compete with USDC or USDT. the better approach is to launch a stablecoin purely as a backend product that generates them yield on customer deposits. the customer never even truly has to know it exists. imagine a flow like this: > launch a stablecoin through a provider like @dakota_xyz > automatically convert cash, USDC, or USDT deposits into your own stablecoin behind the scenes > continue showing the customer their USD balance like normal > earn ~3.75% on those idle deposits and unlock an entirely new revenue stream it’s a simple but super smart way to turn idle deposits into a revenue stream. i predict many neobanks will eventually adopt this model of gated/walled stablecoins.
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@DeFi_Cheetah @defyneric We power rewards on transaction/payment volume tied to stablecoin yield this way at @lightspark - in a GENIUS-compliant way.
We also make d*mn sure that all of our clients embed the correct disclosures in their UX at signup so their end users know where that yield comes from.
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@CallMeGillette @defyneric “> automatically convert cash, USDC, or USDT deposits into your own stablecoin **behind the scenes**
> continue showing the customer their USD balance like normal”
What do you think then?
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@defyneric @DeFi_Cheetah All that matters is whether it is disclosed in the T’s and C’s when a customer signs up for the Phantom/$CASH product. If yes; not illegal at all.
CFPB takes a disclosure-based approach (especially now that it’s been gutted).
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@DeFi_Cheetah now what if that stablecoin is backed by USDC?
like coinbase has their own stable coin issuance product
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Most don’t realize that this is 35 minutes outside of NYC.
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@NickWatts Will be tough for Dan Burn to score the first goal from the bench
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@defyneric For instant sweeps + FDIC coverage, Fiserv acquired a company called Stonecastle that has a product for this. Happy to connect you with them, I know the exec team well.
indxco.com
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