Harsha Goli

@victorcardenas How is capital punished by failing to join a round of a successful company early? What are the actual dynamics of this punishment. Can’t they just say “we never met with them/their pitch was bad/they were materially in a different place?”

My guess is quantum doomers are picking on bitcoin to sell quantum migration tech to the larger ecosystem of sidechains/eth l2’s, custodians, etc all outside of bitcoin. If they succeed with bitcoin, their tech becomes premier in all other projects. If they fail, they’ve made a stink disproportional to any marketing budget. win/win

I was a bit concerned about quantum for a moment, but the supposed expert quantum doomers demonstrating extreme lack of technical acumen at the top of my feed every time I open Twitter is making it hard to take it serious at all. When you’re in a hole, maybe stop digging?

@nikitabier, pro.x.com lost support for direct messages. Does this signal a future sunset of pro.x? It's a huge value add for folks like me who derive a lot of value from reading, reviewing x, and who try to use x as a dominant messaging platform. I saw y'all released a dedicated mobile app for x messages. While this looks great for it's targeted demographic, it doesn't appear suitable for my needs which often includes catching up on my messages while I catch up on x. Please let me know if messages will come back to pro.x soon.

@StephenDeLorme @Marumover Incredible news, y'all are great together!

I'm going to make a departure from my usual commentaries on bitcoin, AI, and design for a personal update. I met the woman of my dreams last year and I married her in April. @Marumover and I are so happy to begin our life together!

I'm old enough to remember back (a couple years ago) when every fintech company was very explicit about wanting to be bank-like but definitely, absolutely, 100% not a bank. They didn’t want the regulatory constraints, compliance burden, or the lower market multiples. They wanted to get close but not cross the line. But now everyone wants an OCC charter. Something like 20 companies have applied or received one in 2026 alone (e.g. Circle, Paxos, BitGo, Coinbase, Ripple, Fidelity Digital Assets, Bridge) So what changed? The big thing is that the sponsor bank model broke. Banking partners were pressured into dropping specific (sets of) business clients and so the optionality of staying “unchartered” became a liability. And now with the GENIUS Act, being outside the chartered perimeter is more of an existential risk than it is 'strategic flexibility' The charter itself is quite limited doesn’t actually enable you to do much in the way of ‘new things’. you can't take deposits or make loans. but what it does give you is a single federal license, one regulator and, perhaps most importantly, the credibility to be a counterparty to serious institutional capital That last part is the big unlock. the largest allocators, biggest banks, and SWFs all have internal policies that restrict who they can work with. A federally chartered and supervised institution clears those filters much cleaner than a state-licensed model does It’s just one of many pieces I’m seeing fall into place right now

@bank_reg the seo of real erebor is atrocious to be fair

Obviously this is not the real Erebor's fault. I mention it only because if you are an an idiot (like me) and just google "Erebor Bank open account," at least on my computer the fake website gets higher placement in the results than the real website

Another random thing on Erebor I stumbled across this afternoon: it looks like someone is operating a website trying (clumsily) to impersonate them.

@CostcoTote @AlexH_Johnson Wow yea this is surprising. They were selling me on their international capabilities as well.

@arshbot @AlexH_Johnson Goes to show how well this is all going to go if Erebor’s own people don’t understand how their money moves now. Found on Wise: note the “via CCB”. Erebor is using CCB to route money. Not the other way around.

Why? They have a bank charter. The whole point is to get direct access rather than going through a correspondent bank.

@AlexH_Johnson @John_PiazzaIV @John_PiazzaIV, it’s the other way around! Achieving a charter with fed rails is highly dependent on controls and having the right people! I’ll be in sf next week if you’d like to get coffee.

@John_PiazzaIV Agreed. Thoughts on this? x.com/arshbot/status…

@AlexH_Johnson Just chatted with someone at Erebor. It seems like it's the other way around, Coastal is using Erebor as a correspondent for international payments!

@arshbot I’ll be curious to see when the ramp up period ends and they’re allowed to get direct access …

@ravi_riley @defyneric @brookwellapp It is possible to insta settle on ach rails. Same day ACH + taking on risk of chargeback which should be zero if business to business. Instant pay out to your end user.

@defyneric I agree just like ACH it has to be hidden behind the scenes but impossible to insta settle on ACH rails the answer is a free + automatic offramp from stables into your fiat bank account aka treating stables like any other payment rail we do this @Brookwellapp

I genuinely can’t believe this hasn’t been fixed yet. Every two weeks, American companies bundle their payroll into batch files and route them through a clearinghouse system that was built in the 70s. It takes 1-3 days for these paychecks to clear, leaving trillions of dollars just sitting there. Annually, roughly $9 trillion is pushed through these rails, and the weirdest thing about this arrangement is that the money in transit literally doesn’t benefit anyone. Banks don’t make any yield on it, and employees are left waiting days for the money they already worked for. This doesn't get fixed by another fintech bolted onto ACH. It gets fixed by stablecoins or it doesn't get fixed at all.

Also, an asset’s value increasing because more people buy it isn’t a ponzi… That’s literally every asset ever from bitcoin to stocks to Pokémon cards. A ponzi is just one where that growth (people buying it) is fueled by lies on where the dividend comes from. Just because it isn’t a ponzi doesn’t mean it isn’t risky. I don’t personally love TC’s but they aren’t a ponzi. Know what words mean.

@federico_rivi Please point me to any Ponzi in history where you get a legally enforceable claim on the audited balance sheet of the operation. I’ll wait.

Bitcoin treasury companies are quite literally a Ponzi scheme. The only mechanism by which these companies "create value" for existing shareholders is issuing new equity at a premium over NAV and using the proceeds to buy more bitcoin. The "yield" Saylor and his colleagues advertise isn't yield in any meaningful sense: it's the premium new shareholders pay over NAV, redistributed across existing holders as "BTC per share" growth. Returns to existing holders come directly from capital contributed by new entrants. Calling this "arbitrage between the fiat present and the hyperbitcoinized future" is a convenient framing for the CEO of a treasury company. What's being sold as arbitrage is no more than a leveraged bet. The model only works while the premium exists. The premium only exists while believers keep buying. Own the asset, not the wrapper.

@mikulaja @ereborbank This makes sense. Coastal is also rumored to have purchased failing evolve bank

Mini-scoop: @ereborbank is leveraging Coastal Community Bank as a correspondent, per an investor presentation Coastal filed with the SEC earlier this week:

@mikulaja @nubank Yes, this is commonly misunderstood. occ charter approval w/o FDIC is only a bank trust. It grants no ach/wire/ach rails. All recent crypto bank approvals still require an fdic regulated bank for money storage and movement.

Mini-scoop: @nubank, which has already received conditional approval of its U.S. bank charter, appears to be launching an interim product with Lead Bank, per disclosures available on its site:

@tatumturnup You’re the reason he has that mean looking body guard now

Adam Back Dat Ass Up

Magnolia is hiring for another role: Senior Software Engineer Absolute musts: - experience with live cryptocurrency payment infrastructure - strong api design skills and opinions - incredible communicator. every member is close to the customer How to apply -> email hiring@magnolia.financial Take a look at the full JD: docs.google.com/document/d/1OY…

@TimCumfield @gringokiwi Still not sure if fake

I met the tallest retard of the conference who the fuck is this 😂

@gringokiwi @tierotiero I’m too busy to do a full write up bc of Vegas, but this is easily one of the stupidest announcements I’ve ever seen. With the most trad bank branding ever.

The stablecoin boys are inventing HD wallets from first principles

I’ve invested in @magnolia_rails! Magnolia focuses on banking bitcoin, and 2026 is going to be an incredible year for this company. I’m proud to be a part of the journey with @arshbot !

Some incredible applicants rolling in here. We’re prioritizing ex-founders for on of our open slots. If you haven’t sent an email, please consider. The future we’re building towards in the ultimate culmination of bitcoin since its inception. Join us 🚀🚀