Sep Alavi

People have asked, so any Kast refugees who want to try @ether_fi I’ll give you a tier bump to Lux so you get a free metal card. Any large depositors (>$200k) ping me and you’ll get VIP to try out with the gold card. Use this URL to sign up to keep track: @mike" target="_blank" rel="nofollow noopener">ether.fi/@mike Comment below if you have issue and I’ll dm you.

If Stablecoins Win, Do Banks Lose? At InnovateMiami: Rajeev Bamra (@Moodys) @SepAlavi (White Star Capital) @kingchris (@fintech_io) Moderated by @leeorgroen (@TheSpartanGroup) The discussion explored how stablecoins are reshaping money movement, where banks may lose share, where they retain an edge, and how financial institutions are adapting. Watch the full panel now: youtu.be/46XXPpLvX6M

@KyleSamani swenldn.substack.com/p/damls-canton…

I'll be debating Don Wilson of DRW next week What is everything I need to know about PFOF, MEV, on chain confidentiality, and most importantly - how Canton works - going into the debate? Give me some weekend homework!

@defyneric @privy_io @dynamic_xyz @thirdweb @crossmint @turnkeyhq @magic_labs @raincards @Stablecoin @KulipaXYZ @wirexapp @iron @BVNKFinance @SeismicSys @UmbraPrivacy @dfnsHQ

API’s Every Neobank Needs: 1) Login/Wallet @privy_io @dynamic_xyz @thirdweb @crossmint @turnkeyhq @magic_labs 2) Card Issuance @raincards @Stablecoin @KulipaXYZ @wirexapp 3) Virtual ACH Accounts @iron @BVNKFinance 4) Privacy Layer @SeismicSys @UmbraPrivacy 5) Yield @yield @yield_xyz @blend_money @veda_labs 6) Swaps @moonpay @lifiprotocol @0xProject @squidrouter @AcrossProtocol @wormhole am i missing any?

@Bkclaims 🎯

Everyone sees “$22bn valuation” headlines and assumes that’s the real price. It’s not. Late-stage venture rounds are often loaded with liquidation preferences, ratchets, and other protections. The new money isn’t taking common equity risk - it’s getting paid back first. If the company exits below that headline number, those investors still get their capital (sometimes more) before common sees anything. In some cases, you even get anti-dilution that further crushes earlier http://holders. So what looks like “equity at $22bn” is often closer to structured capital - think debt with equity upside. Meanwhile, people are buying common on secondary platforms at “discounts” to these marks… without realizing they’re sitting behind a stack of preferred that fundamentally changes the payoff. Headline valuations ≠ economic reality. Kalshi raises over $1 billion at $22 billion valuation in ongoing Coatue-led round: theblock.co/post/394498/ka…

JUST IN: Europe's largest asset manager Amundi (€2.3T AUM) and @Spiko_finance launch tokenized mutual fund SAFO powered by @Chainlink, offering 24/7 transferability and near-instant settlement.

Together with @Amundi_FR, Europe’s largest asset manager, we’re thrilled to introduce the Spiko Amundi Overnight Swap Fund, or SAFO, a new tokenized fund optimized for cash and collateral management. 🏛 UCITS-compliant. 🔄 Built on fully collateralized total return swaps with global systemically important banks, starting with BNP Paribas. 💰 Offering stable yields above risk-free benchmarks and overnight liquidity. Available in four currencies, with subscriptions/redemptions from as little as 1 EUR, USD, GBP, or CHF. ⛓ On-chain shareholder register, providing real-time transparency, flexible custody options, and 24/7 borderlerless transferability of fund shares. ⚡ Programmatic access via API and smart contracts.

This is what hitting PMF looks like. @plasticlabs is on an absolute tear because @honchodotdev is the best product for building stateful agents. I use it personally for my agents and am never going back.

@fintechfrank and @hodlwithLedn

Tether has disclosed $1.6B+ in investments in recent months: Rumble: $785m Elemental Royalty: $250m Juventus FC: $150m Gold dot com: $150m Anchorage Digital: $100m Gold Royalty: $90m+ Generative Bionics: $82m Speed1: $8m Parfin: undisclosed Adecoagro: undisclosed Wild Source: Bloomberg

Hermes(@NousResearch) can now build its identity across sessions 🫡🪞 → Agent messages flow to Honcho, which reasons over them to build a persistent representation of the agent's identity → honcho_conclude lets the agent write facts back (preferences, corrections, context) which feed into Honcho's reasoning → Seed the agent's starting identity from SOULmd → Async writes with zero blocking Run `hermes honcho setup` Your Hermes agent just got long-term memory that actually understands who it's talking to and who it is.

@Bkclaims Let's get back to $100K first and then we can talk about $1M

Does anyone think BTC still have what it takes to get to $1M? I’m not saying no — but lately the price action just doesn’t feel like an asset in the middle of global monetization.

@Bkclaims This is amazing!

We’re actively buying and advising on IEEPA tariff refund claims. If you have a direct relationship with an importer that may have a claim, happy to pay referral fees for real introductions. No complicated contracts — just bring a legitimate opportunity. DMs open

@dgt10011 Never! @hodlwithLedn

Never sell your Bitcoin

@mhiggins I bet we end the day green

Tomorrow giving Black Monday vibes.

In case you missed it: Ledn closed a $188M bitcoin-backed ABS rated BBB- on the senior notes under the offering by S&P. What it took: An intensive evaluation using the same rigorous analytical frameworks applied to traditional assets. Plus, 8 years of focus, durability, discipline, and systems that perform across all market cycles. cointelegraph.com/news/ledn-bitc…

Ledn has issued the first investment grade-rated bitcoin-backed ABS in the digital asset industry. The senior notes under the offering were rated BBB- by S&P. Plus, the ABS has been 2x oversubscribed, with institutional demand exceeding the $188 million offering size. This is the first time a major global rating agency has provided independent, institutional validation of a digital asset lending portfolio. Learn more: ledn.io/post/ledn-abs

@HaileyLennonBTC Yes Ledn @hodlwithLedn

Has anyone personally taken a loan against their bitcoin? If so, what platform did you use and what did you use the money for?

$1B in AUM. 18 months after launching Europe’s first approved tokenized money market funds. Here’s how we got here 🧵

this was probably my favorite panic dump in bitcoin history: march 12, 2020 btc dropped below the 200d MA from $8k to below the 200w MA in the $3ks basically in one night (>50% drop) covid hysteria. fidelity had just told all employees to WFH indefinitely, the NBA had just cancelled its season the night before. the bitmex liquidation engine was selling bitcoin hand over fist. some thought arthur would let it sell btc to zero. luckily, bitmex was taken down in “a DDOS attack” (thanks arthur 🤝) buying during this panic was extremely satisfying. nothing fundamental about bitcoin had changed, but the world was drastically undervaluing it we didn’t stay under the 200w MA for long, but it took 8 more months to climb back to a new ATH