Ryan Singer

Absolutely bullish. It's time to accelerate in the world of atoms 🏭/acc

@splitXCH Yes. Especially with the superpowers plugin

@Ryan_Singer Opus 4.6 in thinking mode with good instructions makes better decisions than 80% of very senior engineers, in my experience.

Version 1.0 took a team of five 18mo on a $1m budget. Version 2.0, a complete refactor, took the CEO and Claude Code 1 week.

Full whitepaper: vex-holdings.github.io/vex-whitepaper/ Built for allocators, companies looking for liquidity without going public, and anyone who thinks a $13T market shouldn't still trade like it's 1990.

The part nobody else does: conditional equity. Instead of fighting for a board seat, you trade on what you think a management decision is worth. Two unit classes, binary outcome, transparent pricing. The market does the governance work.

Private equity outperforms because the best companies stay private. But the cost of accessing those returns is brutal: no liquidity, no price discovery, capital locked for a decade. We wrote a whitepaper on how to fix that. Thread on the key points 👇

After 3 years building in stealth, we're launching Vex at the Private Markets Summit on April 11 at Fort Mason in SF. Five tracks on LP liquidity, tokenization, governance markets, private stock trading. DM me for a discount. vexsummit.com

Working my way through the new SEC and CFTC interpretive guidance and I'm loving footnote 96. Why? In many ways FN96 explains the core approach: earlier in the guidance we are told that tokens whose value comes from functionality and supply/demand rather than essential managerial efforts of a promoter are not securities. But how do you define functionality and a lack of managerial efforts (i.e. decentralization) post ICO...? Not by some technocratic general standard! But rather by the actual promises of the original promoters (and whether they've been satisfied or otherwise extinguished). A very Hayekian approach that avoids regulatory hubris and metaphysical wrangling over the nature of "functionality" or "decentralization." Well done.

The biggest prize in public blockchain tech (in my view) is a platform for finance that Americans, Chinese, Russians and everyone else will trust That requires CROPS: censorship resistance, open source code, privacy, and security $ETH

I just did a podcast on this with @robinhanson

The people with the most to gain from private market liquidity are founders and LPs. The people who control whether it happens are GPs and fund lawyers. The incentives are perfectly aligned. Against you.

Honestly the cypherpunks write better code when they aren't chasing VC trends

I love AI, and I also love that AI took the venture focus away from cryptocurrency. Now we have returned to the open source hackers and the institutional allocators mostly ignoring each other

The federal government is buying your private data to avoid getting a warrant. Today, I introduced the Government Surveillance Reform Act to close the data broker loophole and require a warrant for every search of Americans’ data. wired.com/story/us-lawma…

Important Bitcoin Policy Update from D.C. 🇺🇸 The Federal Reserve just announced that next week they will be issuing a public proposal for how Banks should implement Basel risk weighting guidance for America’s largest banks. Bitcoin is currently treated as a toxic asset under Basel regulations, subject to a 1250% risk weighting, harsher than virtually all other asset classes. This risk weighting makes it extremely difficult for banks to provide financial services to Bitcoiners and Bitcoin companies. Once the Federal Reserve’s proposal is live, there will be a 90 day window to provide comments on the proposal. BPI will be reviewing this proposal closely and submitting a public comment to ensure that U.S. regulators get Bitcoin’s treatment right.

𝕏 Money early public access will launch next month