I said it after the Ben Sasse interview, and I’ll say it again:
@Douthat60 is one of the greatest interviewers of our time.
@Douthat60 is one of the greatest interviewers of our time.
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To draw my own NYc-entric analogy on the #Philly nonsense: it would be the same thing as a group of morons boycotting Tatiana by Kwame Onwuache on the anniversary of the Tulsa Race Massacres because it celebrates his black culture and heritage.
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retail investors hold $12t in assets, so this isn’t even scratching the surface—but at the end of the day it’s just great for marketing
tokenized stonks is a wrapper on the real thing, and they function like a cfd
dtcc* clears up to $13t per day, roughly 1/3 of the annual us gdp
tokenized stonks is a wrapper on the real thing, and they function like a cfd
dtcc* clears up to $13t per day, roughly 1/3 of the annual us gdp
91% of all tokenized stocks lead back to one broker.
Tokenized stocks total $4.60B today and $4.17B of that is backed by real shares held at a single US broker called Alpaca Securities.
- 7 issuers use it - Binance bStocks, Ondo, xStocks, Robinhood, Reality, Coinbase and those shares at DTC, the central US securities depository. On the company's books, the owner is Cede & Co., and not you.
- Securitize and Backpack take a different path, through RQD Clearing but still ends at DTC.
- Superstate and Securitize’s ISTs are the only one that skips both. The shares sit on the company's own register, with no broker and no DTC.
In total, that’s 4.7M token holders across those 7 issuers, and one broker between all of them and the real shares.
Now you know.
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MEXC did >$16B in illicit transactions for Russia, North Korea and Iran you say?
home.treasury.gov/news/press-rel…
home.treasury.gov/news/press-rel…
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not enough people are talking about the chainalysis hack + outage
really hard to see how they come back from this
really hard to see how they come back from this
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this story and the resulting adoption of USDC & USDT in the region is going to put a fine point on the need for secure stablecoin rails and access; stablecoins and crypto inherently prevent this.
Paraguay President Santiago Peña resigns after the collapse of Ueno Bank. apnews.com/article/ueno-b…
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💳How does the merchant even know?
Last week I wrote about merchants and platforms starting to reject cards issued on certain BINs.
One q stuck with me: how do they even figure it out? I wasn’t sure if every bill looks the same, so I dug in a bit.
Last week I wrote about merchants and platforms starting to reject cards issued on certain BINs.
One q stuck with me: how do they even figure it out? I wasn’t sure if every bill looks the same, so I dug in a bit.
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So how do they identify the card?
The first 6–8 digits map to issuer, funding type, product tier and Durbin status. Every PSP holds that table, it’s how they route in the first place. IC++ statements spell it out. Tiered downgrades usually show up a month later.
The first 6–8 digits map to issuer, funding type, product tier and Durbin status. Every PSP holds that table, it’s how they route in the first place. IC++ statements spell it out. Tiered downgrades usually show up a month later.
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