Reid MacInnes Cuming

Today we're announcing Ground @ground_onchain: the money infrastructure company that makes onchain finance easy, accessible, and embeddable — supercharging all finance and banking. We're starting with embedded onchain yield. 🧵

@usemotocard Awesome!

The Moto physical card is now available for pre-order. Cut from mirrored metal, it reflects more than light: preferred hotels, restaurants, and experiences; zero foreign exchange fees; dedicated concierge; and member benefits designed around the places our members actually want to be. Reserve early to receive a reserved membership rate and unlock a private reward after your first $10K in spend. Some reflections are worth carrying. Experience Moto.

Bourdain said San Francisco was his favourite food eating city in America. Liked the Asian spots and old school steakhouses. The mix of low and high end options. But especially liked fresh seafood: Swan Oyster Depot was his go-to for smashing oysters and crab head juice.

$2,000,000,000 Ondo Perps has surpassed $2 billion in cumulative trading volume. RWA perps are going exponential.

Whenever I see interesting houses or building in SF no matter when they were built, I immediately think, “how did they get the permits.”… warped thinking after many years in SF

@TheBlockCo Epic!

THE BLOCK: Tarun Chitra's Gauntlet has raised $125 million in a Series C funding round, with SBI Holdings as the sole investor. The crypto yield curator was last valued at $1 billion in 2022, when it raised about $24 million in a Series B funding round.

NYC is going full SF. Winning championships, a progressive mayor, and now imminently collapsing buildings.

@DanielLurie Awesome

This Fourth of July, we are launching fireworks from the two towers of the Golden Gate Bridge! Here is everything you need to know: 🌉The show starts at 9:30 pm. Arrive ahead of time to secure your spot.  🌉Expect crowds. 🌉Take public transportation or walk. Parking is extremely limited in viewing areas. 🌉Fireworks will launch from the east side of the Golden Gate Bridge. The best viewing locations have a clear Northwest view of the bridge, like Crissy Field, Marina Green, Pier 39, and Fisherman’s Wharf.  🌉The Golden Gate Bridge will be fully closed to traffic 9 pm - 10 pm. 🌉Complete information can be found at sf.gov/july4.

Initiatives like Open USD, whether or not they are successful in taking on Circle's USDC for meaningful market share, ultimately increase the utility of stablecoins overall. And in a world where stablecoins are increasingly interoperable with dollars (instant and 1:1) initiatives like Open USD extend the utility of dollars, too. Open USD's "earn by default" feature is part of a larger theme we're seeing, where money is increasingly expected to create value even when it's at rest. When the friction is taken away, nearly everyone chooses to earn the risk-free rate, at minimum.

Every potential client we talk to runs into the same three problems when creating a yield, wealth or investment product: First, Concentration: Running balance or portfolio through a single underlying venue, source, or strategy introduces risk. Diversifying among 2 or 20 sources reduces this risk. Ground makes putting your eggs in more than one basket easy. Second, Goalling: Most products focus on a specific risk and liquidity profile, sometimes a different one per client segment, usecase, or expected behavior. Hitting the goal consistently requires adapting your portfolio as underlying sources change. Ground makes accessing and maneuvering over a catalogue of sources easy. Third, Differentiation: Competitors often use the same venue, source, or strategy as your product, commoditizing it at best, or degrading its performance and expected outcomes at worst. Ground makes building unique, customized offerings easy. Each of these is solved by integrating many diverse sources, adding complexity to your product, along with more maintenance and reconciliation overhead. Ground abstracts the complexity and makes this easy. One integration, fully client controlled, with source-attributed reporting. You configure and rotate venues and sources without becoming an integration desk. Let's build on solid Ground.

@carlosdomingo Congrats

We are happy to be here!

Compound Treasury grew above $300M in AUM in less than six months, and was the first decentralized product to receive an S&P credit rating. The tech, team, and positioning worked incredibly well until the market shifted underneath it. We wrapped the Compound protocol's yield for corporate treasuries, offered a fixed 4%, and took the spread. Once ZIRP ended and protocol rates fell, the spread vanished, making the product unsustainable. It was a single yield strategy exposed to a single rate regime. Anything pinned to one venue or one rate regime can get washed out when the cycle turns. The durable product is the one built on flexible infrastructure, capable of adapting to changes in the market. That is Ground: One API. Many yield sources. Configurable to our today's and tomorrow's risk and liquidity requirements.

Sigh DeAI just looks like DePIN 2.0

@CryptoCoinShow @ground_onchain Thank you for hosting @Ashton_Addison_

Trillions of dollars sit in neobanks and exchanges every day, mostly earning nothing. We talked with @rmcuming Reid Cuming, CEO and Co-Founder of @Ground_onchain, fresh off a $3.6M raise, about why onchain yield has been stuck behind a wall of wallets and private keys, and how Ground wants to make it invisible inside the apps people already use. Watch the full interview: youtu.be/-3fKQWdvkaM?is…

@CryptoCoinShow @ground_onchain Thank you for having me @Ashton_Addison_

What

CLARITY's the statutory framework ends years of SEC/CFTC jurisdictional ambiguity, the DeFi market structure safe harbor hinges oversight on discretion (right call), extending GENIUS's stablecoin yield prohibition to distributors via an activity-rewards test is a fair compromise, and DeFi yield is mostly left alone (good). House/Senate reconciliation still has rough edges, and significant rule making remains, so the job isn't finished. But the ethics provisions are the real obstacle; if unresolved before August, the bill stalls past the midterms and innovation pays the price. I hope not.

@SuperstateInc @InvescoUS Finally

Congrats to @InvescoUS on filing for the Invesco Stablecoin Reserves Onchain Fund. We’re excited that Superstate is named as sub-transfer agent, supporting blockchain-integrated recordkeeping for tokenized fund shares. Looking forward to what’s ahead!

@JackJMayo1 @ground_onchain @LightyearHQ ty!

Seeing teams like @ground_onchain get traction at the rate they are is one of the most rewarding aspects of a residency program. Working next to them for a month was a veritable masterclass in building a business at pace. Notes were taken. Congrats lads! @LightyearHQ