Ryne Saxe

@austincampbell I know of another one of these. Or maybe we know of the same one. Leading investors demanding better "fundamentals" for a decent growth multiple while with the other hand plowing money they'll never get back into listless BS.

What if I told you there is a company closing in on $25mm ARR, sales across exchanges, banks, stablecoins, and dapps, and private equity is about to buy it because every investor in this space can’t get out of their own way?

@nathanmccauley items 4 and 6 hit hard

- blizzard in NYC as snow falls - hot nights in Midwest (with fireflies) - 90 degrees and sunny, in a pool in Arizona - first day of Spring in Indiana, t-shirt and shorts because it hit 45 degrees - any snow day home from school - proper extended thunderstorm K back to stablecoins

@andyyy Hi. I would scroll through the replies above and try to find the companies/tech that many of them are mutually using in the background. Platform economics...

If you had to tell a new institutional investor the most investable companies in the digital assets space, what would you answer?

@inkymaze We sat upstairs

DeFi’s San Francisco class of 2018-19 showed up to have our sins forgiven by the new high priest

firmly S-tier in the American weather canon: - hot summer nights (many places, my strong bias for the Midwest) - 80 degree days in San Francisco We can debate what else, but those two must be in. K back to stablecoins.

Bullposting @paulframbot's rightful obsession with fixed rates. Fixed rates are for Morpho/lending what programmability is for Eco/stablecoins. In fact you could probably replace "onchain lending" with "stablecoins" and "fixed rates" with "programmability" in this article, and end up close. That's where I think our biggest opportunity and our real edge lies. I might just do that in my next one, with credit to Paul of course. Can't wait for Morpho to unlock the next era🦋

We only expand asset coverage when we see real demand for it. It's been clear for months that $USDG and @global_dollar are trending. Another move to also expand our support of @solana @inkonchain @Paxos ecosystems as well. The Stablecoin Economy grows.

Working toward it. But obv they aren't the same across collateral models or chain finality/security models. Very hard to reconcile in a sustainable way across dynamic market conditions. But you can get to a solution where pricing is predictable and flat, and intelligent batching/netting improve capital efficiency for everyone involved.

Is this the layer where a stablecoin is considered the same as another stablecoin despite where it's held or who is issuing it? Because that's what we should be working on: a USDT being the same as USDC, being the same as other deep liquid stablecoins, despite which chains they decided to deploy it

@tomkysar gm

near instant 1:1 stablecoin bridging has arrived

Suprised I haven't seen more crypto content that compares the current cycle with the Dotcom bust (which I'm old enough and nerdy enough to remember well). Majors are all down, imitation or pan-flash alts with no real business model effectively zeroed out, people consolidating into fundamentals. Some would argue that was crypto in 2022-23, when the depth of the overall market tumble was more pronounced, but I think the current cycle has more substantive parallels. Will probably write on this one soon.

@robbiek__ Congrats lads. Totally earned. You can still just do things. Can't wait to see the new digs 🌇

6 years later, thousands of podcasts, blood, sweat, tears and one incredible entrepreneurial journey with my brother in blockchain. The Rollup TV is LIVE from the Empire State Building. x.com/i/broadcasts/1…

@OBoehmXGR I think the winning stack increasingly orchestrates all of those things effectively, with amazing batching/netting among them.

This is a great reality check. Stablecoin UX hides a messy truth: across chains you’re basically dealing with fragmented FX micro-markets (USDC/USDT/DAI + wrappers), each with its own liquidity, settlement latency, and bridge risk. When spreads are measured in bps, MEV/intrablock movement and poor routing become existential. The teams that get it right treat it like: •execution + routing (best venue selection), •inventory management (rebalancing + hedging), •and robust assumptions about finality/settlement. Curious: do you think the winning stack is intent-based routing, RFQ liquidity, or centralized rebalancing with onchain execution? #Stablecoins #XGR

Something people underestimate about stablecoins: "They're just a dollar, right?" Unfortunately not. The stable send/swap market across chains is more like forex. There's always a spread. And you're way more sensitive to intrablock price movement because of the tight margin to begin with. Liquidity management and price discovery across this market is actually pretty hard. At least once each week, we encounter a team that is probably underestimating this by 10x.

Interactions, status updating and headless/non-widget interface are great imo! Really thoughtful. Disclaimer: The UX really lives/dies in conversion and error handling as you know. So the demo flow above is seamless, but the false-positive/negative exception flows are just as important. Graceful error handling/retries are a very underestimated area of opportunity imo.

@rynesaxe @tednotlasso Do you have any feedback/thoughts on our headless Onramp?

consumer app designed for normies that abstracts away all crypto has coinbase and moonpay onramps for funding found that some users churned once they saw coinbase because they associate it too strongly with crypto and moonpay not known/trusted enough beyond crypto interesting

The stablecoin infra companies building serious traction often suffer from the same paradox right now: Institutions are moving onchain in a wave, but none of us can talk about it yet. They're all running multi-month pilots before saying anything publicly. (A clear resolution on CLARITY Act would help...) There's far more traction than most anyone knows yet, and none of it's really priced in imo. But it's happening.

@HadickM @loganzev @segall_max Let me guess it said: THIS IS SO BULLISHHHH Fellow @segall_max endorsoor here

@loganzev @segall_max He was literally the first person to DM me after seeing this tweet

Ok, who is the single smartest builder/operator in the SF fintech scene on agentic payments?

This is the beginning of an absolute wave of Eco product releases and partner announcements to come 👀 Programmability is the product.

I re-read it once a year, and pull excerpts for my team to re-read as well. One of your all-timers. Something I'm constantly drumming to our team: It's an incredible privilege to be challenged to do your best work, on something that matters. Most people never get to work in that type of environment, with that level of trust. Leave it on the field.

I just reread "How to Do Great Work." It's so long! But it also has less fat than most things I've written, which is a weird combination, because usually writing that's long on the macro scale is long on the micro scale too. paulgraham.com/greatwork.html