SecularJuncture

@marcuslemonis @fear_munger We are eagerly looking forward to it

It’s happening.

@EleanorTerrett Doesn’t really matter. Every single crypto is in the hole and it may very well stay there.

🚨NEW: President Trump says his administration is building a “future-proof” digital asset market structure that can’t be undone by “crypto haters.” This marks the first time the president has publicly weighed in on crypto market structure since March.

🚨 LATEST: Visa has invested in AI coding platform Replit to power agentic payments, exploring how to enable developers and AI agents to accept payments directly within the platform.

@davehendricks @Aptos @Vertalo_ @RWAFoundation_ @DefiLlama @ZeusRWA @andyyy @kylegbro Well done! Also great read

Hot off the presses: @Aptos and the @Vertalo_ Securities Protocol: A Technical Case for the Next Generation Chain. And why you should care about this, if you are serious about 'Tokenizing The World' Link in the comments. @RWAFoundation_ @DefiLlama @ZeusRWA @andyyy @kylegbro @AptosLabs

Robinhood announces it will rollout a feature that lets AI agents trade stocks and make purchases. Only a handful of companies have the rails for this, most notably @circle and @tZERO. With SEC & FINRA regulated, institutional-grade plumbing built for autonomous digital asset transactions. The tech is here $HOOD

@tZERO @VerifyInvestor Well done to the team! Taking down one friction at a time!

@tZERO's @VerifyInvestor is now integrated into the PandoAlts Market Checks platform and has been named its default accreditation verification provider. This integration embeds accredited investor and qualified purchaser verification directly into the deal flow, reducing friction for issuers, brokers, and allocators. One-stop shopping. The result: faster verification, greater confidence in counterparty compliance, and a more connected experience across private credit, real assets, and alternative investments. Read more: tzero.com/news/tzero-s-v…

LATEST: 🏦 Circle CEO Jeremy Allaire says "literally every financial institution in the world" now has an explicit mandate to implement digital assets in some manner.

@NaklenPiyasa @ericwallerstein It’s called SPY Equal weight and it is doing just fine 😀

@ericwallerstein Chart porn! Remove Magnificent 7 from the S&P 500 and the US looks like a value trap too. You can make anything look bad by excluding what makes it good.

stole this from Oxford Economics. EM is getting shellacked when you remove TSMC, Samsung and SK Hynix.

@gurgavin Whatever you feed this market, they go up. Gravity is no more

NEW ALL TIME HIGHS COMING

Acquisition time 👀

@mSanterre @Hodlep @gurgavin @SHSInvesting Not without question.

@SecularJuncture @Hodlep @gurgavin @SHSInvesting So being very optimistic, bro put money into a secondary fund that funded VCs that funded anthropic/OAI. After everyone takes their fees it'll be 60% of the original investment, so hopefully it was very very early.

DURING THE DOT COM BUBBLE EVERYONE CALLED YAHOO THE SAFE BET WHAT THEY MISSED YAHOO’S CLIENTS WERE THE DOT COM COMPANIES. THE ONES WITH NO PATH TO PROFITABILITY THEY COLLAPSED, YAHOO COLLAPSED WITH THEM SAME THING IS HAPPENING IN AI. EVERYONE RUSHING TO THE ‘SAFE’ INFRASTRUCTURE PLAYS. GPUS, CLOUD, APIS BUT WHO’S PAYING THOSE BILLS? AI STARTUPS WITH NO REAL REVENUE, NO PROFITABILITY, AND A VC CHECK THAT WON’T LAST FOREVER. FUNDING DRIES UP. DOMINOES FALL. SO WHO ALL IS YAHOO THIS TIME? (YOU ALREADY KNOW)

@mSanterre @Hodlep @gurgavin @SHSInvesting True, which is why primary allocations go via VCs. But there are structured platforms that pool smaller investors into a single institutional fund, giving individuals a legal way to participate that is in line with corporate transfer rules 🤷🏻‍♂️

@SecularJuncture @Hodlep @gurgavin @SHSInvesting You had to be vetted by the company to buy and it's mostly VCs, not some random twitter guy

@mSanterre @Hodlep @gurgavin @SHSInvesting This is true for Hiive which enabled the trading on its secondary marketplace of unapproved private shares. AngelList and other specialized firms participated in authorized, primary venture capital rounds vetted by the company.

@SecularJuncture @Hodlep @gurgavin @SHSInvesting These investments are null and void. Anthropic made a very clear statement that secondary sales were not allowed and any employee doing these sales will have their stock grants canceled.

@roily23 @JoseyWalesPace @tZERO 💯

Armstrong runs the largest crypto exchange in the US with a ~$60B+ market cap and is now describing a vision that a small, largely overlooked company in Salt Lake City has been executing — with actual regulatory approvals — since 2016. @tZERO

@RagingVentures They should consider paying down that debt and/or distribute dividend.

I purchased a large amount of $CHTR equity and medium-dated calls this past week Stock is left for dead at $145 Enormous FCF which is inflecting higher as capex declines, $50 per share or more in sight for 2028 Competition is intense but strong wireless upsells provide an offset Debt has average maturity of 12 years with 5.1% avg cost, provides lots of optionality No one wants to own it in front of SpaceX IPO; I view the completion of the IPO as a positive catalyst as overhang is lifted Closing Cox/Liberty deals this summer should be another positive catalyst, helping to de-lever balance sheet Can continue to buyback an enormous amount of stock while also de-levering John Malone has hinted at shifting to paying out dividends, which would be huge catalyst Consolidation remains an option, there would be significant cost and competitive synergies by combining with a wireless carrier Fortunately, I have not previously owned $CHTR and lack the scars of others

/@brian_armstrong is describing @tZERO

@Hodlep @gurgavin @SHSInvesting Private placement. You can access these sort of deals via companies like AngelList, Doorway spa. Otherwise companies like HIIVE if you are looking for direct secondary trading, but the latter usually require large capital.

@gurgavin @SHSInvesting How are you in anthropic?

Would like to have a list of companies that are positioned for this new economy. I know @circle and @tZERO are/will have a strong footprint in this type of infrastructure/rails. Specifically the blockchain layer where AI agents can autonomously move real economic value (tokenized securities, RWAs, etc.) at scale while satisfying the requirements you listed (T.U.L.I.P). Maybe companies like $PYPL will do as well

In the agentic economy, once agents start moving value, I believe the most interesting question is: which infra the agents run on? Rails decide everything here & I think it will condense to a core set of requirments: - *Throughput* is the obvious one. An agent paying per API call, per query, per cycle of compute generates millions of micropayments an hour, which turns cost into a hard physical constraint. Sub cent payment means nothing if the fee to settle it is larger, so the real bar is enormous scale & a cost floor near zero at the same time. - *Unified liquidity*, b/c no agent focused on optimizing the task at hand, is going to compound the problem he is dealing with by reasoning about which of 35 chains an asset lives on or holding a separate gas token for each, when an easy alternative exists. Fragmentation just produces failed or worse execution. So what an agent will seek is a single liquidity surface it can express an intent against & have the routing handled beneath it, rather than a convoluted map of bridges it has to navigate itself. - *Privacy* is crucial & perhaps still underrated. Consider that a public ledger broadcasts an agent's entire strategy to every competitor & mempool bot in real time.. He's asking to get front run & exploited. So I'm thinking that in the agentic economy privacy becomes alpha preservation & is no longer just "ideological" or a "nice to have". Also, if the agentic economy really takes off, privacy is a precondition for any enterprise/corporate issued agent, especially if they have to handle regulated data. - *Identity*. Existing rails assume a human performing every txn, but an agent has no traditional ID, nothing a counterparty can verify. So the infrastructure itself will have to issue identity. Ideally some form of delegated authority with bounded & revocable spend & execution you can cryptographically prove that ran as intended. Otherwise, giving an agent a wallet is a liability rather than a capability. So it's a crucial piece of the puzzle. So the job, as an investor bullish on the agentic economy, is now identifying the chain that best satisfies all these requirements: T.U.L.I.P. Throughput, Unified Liquidity, Identity, & Privacy (might have picked a better acronym, but at least it's memorable)

@HumbleandH @tZERO 🎯

@tZERO #Tzero_Bros