Will Galvin

33 posts

Will Galvin

Will Galvin

@willtwitgalvin

If you follow me, you're really lost

New York, NY Katılım Şubat 2011
141 Takip Edilen64 Takipçiler
Will Galvin retweetledi
Membrane Labs
Membrane Labs@Membrane_Labs·
2 days to go. @Membrane_Labs × CorPrime are co-hosting the 3rd Annual Lenders & Borrowers Breakfast. March 25 10 am – 12 noon Empire State Building Come for the coffee, stay for the conversation. Register here: luma.com/6rc44chf?tk=mg… #DAS2026
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Will Galvin retweetledi
Membrane Labs
Membrane Labs@Membrane_Labs·
New Episode on the BRANESTORM Podcast by Membrane (@Membrane_Labs). As tokenized RWAs scale, issuers need to explain *how* yield behaves across market regimes, not just the headline. Ryan Day (@RyanDay) from Solstice Labs (@solsticefi) breaks down why messaging must differ for retail vs institutional audiences when bringing off-chain yields on-chain. Watch the full episode here: membranelabs.com/branestorm-ep1…
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Will Galvin retweetledi
Membrane Labs
Membrane Labs@Membrane_Labs·
Last Friday, the SEC’s Division of Trading and Markets quietly issued updated guidance with significant implications for institutional crypto market structure. Broker-dealers may now apply a 2% net capital haircut to qualifying payment stablecoins under Rule 15c3-1. Previously, the effective treatment was 100%. Net capital rules shape how broker-dealers allocate balance sheet, extend credit, and intermediate markets. A 100% haircut made stablecoins economically impractical as inventory. A 2% haircut makes them capital-efficient. This shift has direct implications for: • Prime brokerage models • Securities lending • Stablecoin repo markets • Tokenized asset settlement • Cross-platform collateral mobility Stablecoins can now more realistically function as funding legs, margin collateral, and settlement instruments within the broker-dealer framework. This is a meaningful step toward integrating stablecoins into regulated market infrastructure and existing collateral networks.
U.S. Securities and Exchange Commission@SECGov

Yesterday, the Division of Trading and Markets issued an FAQ confirming that staff would not object if a broker-dealer were to apply a 2% haircut on proprietary positions in payment stablecoins when calculating its net capital. Link to the FAQ ➡️ sec.gov/rules-regulati…

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Will Galvin retweetledi
Membrane Labs
Membrane Labs@Membrane_Labs·
This year will see a Great Unbundling in crypto – a shift to specialization that will increase choice and efficiency. hubs.ly/Q01D1TMM0
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Will Galvin
Will Galvin@willtwitgalvin·
Some better, some worse - 'lived poverty' decreases in 22 countries in SSA, but rises in 5. tinyurl.com/zmhbpss
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