Pro crypto camp is as big and important as ever. Keep building.
1/ The post-election hot takes are missing an important point: the election wasn’t a referendum on crypto. Some crypto champions won and some lost, but we have more pro-crypto candidates elected to Congress than we’ve ever seen in a new member class before. That’s progress.
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Excited to announce @CoinbaseAM is bridging the UAE and US with the Soveriegn backed Standard Asset Company in @ADGlobalMarket.
This innovative approach blends bitcoin:native yield bearing collateral with UAE Prime Commercial Real Estate.
Bitcoin has a multitude of benefits- from its role for cash flow, instant liquidity, use as collateral, and of course its store of value vs fiat.
We embarking on a new paradigm where Bitcoin serves as a ballast next to prime UAE real estate in one of the most strategic locations today.
This innovative approach blends bitcoin:native yield bearing collateral with UAE Prime Commercial Real Estate.
Bitcoin has a multitude of benefits- from its role for cash flow, instant liquidity, use as collateral, and of course its store of value vs fiat.
We embarking on a new paradigm where Bitcoin serves as a ballast next to prime UAE real estate in one of the most strategic locations today.
Update: We are honored to support Standard Asset Co. in ADGM as their exclusive Bitcoin asset manager.
With deep respect for the vision of His Highness Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, this strategy bridges digital and traditional economies with institutional discipline.
gulfnews.com/business/corpo…
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Anthony Bassili 🇺🇸 retweeted
Today marks 18 years since the release of the Bitcoin Whitepaper.
A day that changed everything.
A day that changed everything.
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Speed is what changed
In 2014 I went nearly a week without sleep. I was running PayPal and attackers were inside our corporate network. They'd compromised an eBay employee's laptop, got onto the VPN, taken over a domain controller and made themselves domain admins. eBay and PayPal were one company then, on one Windows network. They stole 145M eBay user records, then came for the segregated vault holding PayPal's card credentials. We fought them off. They never got in, but they got close. Too close.
Yesterday Binance lost ~$6.3B in what looks like the same way. A DevOps engineer's laptop, then a service inside the withdrawal stack, then withdrawals the signer approved because they came from a trusted source. Hot wallets emptied in under four hours. No key was stolen.
Nobody broke cryptography or a ledger. They found someone with access and used the trust that came with it. Banks get hit exactly the same way.
2016: attackers inside Bangladesh Bank used its own SWIFT access to send $951M of payment orders to the NY Fed. $81M was lost. The rest was held because an unrelated sanctions filter tripped on the word "Jupiter". That was luck, and it only worked because wires took days to settle.
June 2025: an IT employee at C&M Software, which connects Brazilian banks to Pix, sold his credentials for about $2,700. Attackers used them to send fake Pix transfers out of six institutions' reserve accounts at the central bank. ~$140M in under three hours.
August 2025: stolen vendor credentials at Sinqia, another Pix connector. ~R$710M out of HSBC and one other institution in a single afternoon. The central bank froze most of it, after it had already moved.
Same attack every time. Speed is what changed. When settlement took days, a filter, a correspondent bank or someone in ops could catch a bad payment. Pix, FedNow, SEPA Instant and blockchains settle in seconds. Payment security was mostly built for the slow world.
PayPal's card and user data survived 2014 because domain admin on the corp network couldn't unlock it quickly enough, and our alerting caught the unusual activity on the network. That's the model. Approval policy no laptop or vendor login can reach. Velocity and anomaly limits enforced outside the system that sends. Dynamic caps on what any one wallet, account or service can move per hour. All of it in real time.
About $3B of what left Binance has been frozen, almost all of it stablecoins. The $1.4B in bitcoin is sitting in 19 wallets and nobody can touch it. I don't think that's the problem. For decades the ability to reverse a wire or a card charge let a lot of weak security slide. You either stop the transfer before it's signed or you eat the loss.
Nothing about the technology failed here. The chains processed exactly the transactions they were handed. Binance's own systems handed them the wrong ones because an engineer's laptop was compromised. That's operational security. eBay in 2014, Bangladesh Bank and two Pix connectors all failed at it on their own rails.
In 2014 the attackers never reached the vault. If they had, the fraud losses would have been the small part. PayPal existed so people could pay without handing their card details to every merchant on the internet. We held those details so they didn't have to. Losing them would have broken the one thing the company was built on, and I'm not sure we would have recovered.
I expect blockchains and digital assets to become the standard way money moves. Every custodian of digital assets, or of fiat on a real-time rail, is in that position now. The controls have to adapt to settlement in seconds, crypto or not.
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Anthony Bassili 🇺🇸 retweeted
Coinbase is safe and secure.
We’re actively monitoring the Binance situation, and have reached out to their team to offer our support.
We’re actively monitoring the Binance situation, and have reached out to their team to offer our support.
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Search Interest in bitcoin at cycle low?
But $btc holds floor at $81k.
The floor keeps rising.
Average holder cost is $59k.
200 week MA is $67k
200 day MA is $72k
But $btc holds floor at $81k.
The floor keeps rising.
Average holder cost is $59k.
200 week MA is $67k
200 day MA is $72k
INSIGHT: Google searches for Bitcoin have plunged to a FIVE-YEAR LOW as $BTC trades near $81,000.
Similar lows in September 2023 and September 2024 coincided with local Bitcoin price BOTTOMS.
Retail interest in crypto FADING:
- Robinhood's crypto revenue plunged 55% year over Q3
- Bitcoin wallets holding a balance declined by roughly 30,000 since October 16.
Some analysts see this retail disinterest as a BULLISH signal, suggesting selling pressure may be easing.
However, a bottom remains unconfirmed, with $80,000 emerging as a critical level as markets digest the Fed rate decision and midterms election.
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all podcasts should just be rapid fire-rounds. Here's what I'm focused on with bitcoin, alt-coins, onchain asset management, tokenization, and privacy
Lightning round with @SmartestBeta. Most excited about for 2027: on-chain asset management. Bigger 2027 story: "Stablecoin credit." Most underrated: privacy.
Is this a good time to enter crypto?
"This is not financial advice, but it's a great time to buy Bitcoin."
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Don't overthink it - just keep stacking sats
The five-year cycle was last cycle's big call. @SmartestBeta isn't buying it:
"absolutely, that's the wrong call"
On waiting for the perfect entry:
"You're not going to catch the low. You just need to start allocating and do it consistently over time."
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Satoshi did not use NIST. The NIST (est 1997) finding is interesting cryptographic history and settles an open question. Of course AI did it in 30min when our meat brains could not in 30 years.
For Bitcoin, it is not relevant.
Keep moving
For Bitcoin, it is not relevant.
Keep moving
CLAUDE FOUND THE SEEDS
anthropic.com/research/ecdsa…
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Glad to see the @USOCC bringing transparency out.
Hopefully steps will be taken to prevent weaponizing our banking system with the next administration.
Hopefully steps will be taken to prevent weaponizing our banking system with the next administration.
bombshell report from the OCC out today confirming what we all suspected:
between 2020 and 2025, based on a review of 100,000 complaints, America’s largest banks systematically denied banking to lawful businesses based on political and reputational considerations rather than k, effectively appointing themselves arbiters of which industries deserved access to the financial system. digital assets was specifically named as one of the six most affected industries.
TLDR: we weren't imagining it. OCP2.0 was real.
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Anthony Bassili 🇺🇸 retweeted
Chamath thinks AI could completely change how we value software companies.
@chamath believes we're reaching a point where the intellectual property behind traditional software could become practically worthless and his reasoning makes sense. Recently, a developer reportedly used ives to several of $ADBE popular products and released the software as open source. These are products that took years, billions of dollars, and thousands of engineers to develop. Now we're seeing individual developers use AI to build competing alternatives at a fraction of the cost.Of course, recreating an application doesn't necessarily mean it can match the original in quality, reliability, or features but I think the bigger implication is what happens to the software industry if AI continues improving at this pace.
For decades, software companies have been able to charge premium subscription prices because building competing products was expensive, complicated, and required large engineering teams but what happens when AI agents can build similar applications in days or weeks instead of years? Suddenly, charging businesses hundreds or thousands of dollars for software becomes much harder to justify when they can potentially build customized alternatives themselves.
Chamath also talks about something called headless software, which basically means AI agents can interact directly with applications without requiring humans to navigate their interfaces.Technologies like MCP make it easier for agents to connect to different software tools, access information, and complete tasks automatically. Think about $CRM. Instead of employees spending hours navigating dashboards, updating customer records, and generating reports, AI agents could eventually handle much of that work automatically. And if businesses can accomplish the same tasks with cheaper software and fewer paid licenses, that creates a HUGE problem for the traditional software subscription model.
Now, I don't necessarily agree with Chamath that software IP has suddenly become worthless. companies still have proprietary data, customer relationships, security requirements, and deeply integrated systems that aren't easy to replace but I do think AI could put enormous pressure on software pricing, especially for companies selling products that can be easily replicated. But, if millions of businesses eventually start building their own applications and deploying AI agents to perform tasks that previously required humans, the amount of computing power required could increase significantly.
Every AI agent still needs inference compute to operate, and that means more demand for GPUs, memory, networking equipment, data centers, and electricity. So while AI could potentially disrupt parts of the traditional software industry, it could also accelerate spending on the infrastructure powering these applications. And this is exactly why I continue to remain bullish on the broader AI infrastructure buildout over the next several years.bBullish on the AI infrastructure side of this shift. If you want to see how I’m investing around the companies powering this next wave of software and agents, check out my full Milk Road Pro portfolio below.
link.milkroad.com/d8cj6v
@chamath believes we're reaching a point where the intellectual property behind traditional software could become practically worthless and his reasoning makes sense. Recently, a developer reportedly used ives to several of $ADBE popular products and released the software as open source. These are products that took years, billions of dollars, and thousands of engineers to develop. Now we're seeing individual developers use AI to build competing alternatives at a fraction of the cost.Of course, recreating an application doesn't necessarily mean it can match the original in quality, reliability, or features but I think the bigger implication is what happens to the software industry if AI continues improving at this pace.
For decades, software companies have been able to charge premium subscription prices because building competing products was expensive, complicated, and required large engineering teams but what happens when AI agents can build similar applications in days or weeks instead of years? Suddenly, charging businesses hundreds or thousands of dollars for software becomes much harder to justify when they can potentially build customized alternatives themselves.
Chamath also talks about something called headless software, which basically means AI agents can interact directly with applications without requiring humans to navigate their interfaces.Technologies like MCP make it easier for agents to connect to different software tools, access information, and complete tasks automatically. Think about $CRM. Instead of employees spending hours navigating dashboards, updating customer records, and generating reports, AI agents could eventually handle much of that work automatically. And if businesses can accomplish the same tasks with cheaper software and fewer paid licenses, that creates a HUGE problem for the traditional software subscription model.
Now, I don't necessarily agree with Chamath that software IP has suddenly become worthless. companies still have proprietary data, customer relationships, security requirements, and deeply integrated systems that aren't easy to replace but I do think AI could put enormous pressure on software pricing, especially for companies selling products that can be easily replicated. But, if millions of businesses eventually start building their own applications and deploying AI agents to perform tasks that previously required humans, the amount of computing power required could increase significantly.
Every AI agent still needs inference compute to operate, and that means more demand for GPUs, memory, networking equipment, data centers, and electricity. So while AI could potentially disrupt parts of the traditional software industry, it could also accelerate spending on the infrastructure powering these applications. And this is exactly why I continue to remain bullish on the broader AI infrastructure buildout over the next several years.bBullish on the AI infrastructure side of this shift. If you want to see how I’m investing around the companies powering this next wave of software and agents, check out my full Milk Road Pro portfolio below.
link.milkroad.com/d8cj6v
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How do I long investments with in-person human experiences…
Digital experiences are not going to know if the person/thing we’re talking to is real unless we see the whites of their eyes.
Digital experiences are not going to know if the person/thing we’re talking to is real unless we see the whites of their eyes.
Introducing Griffin, the first model to pass the video Turing test.
48% of people who talked to it live thought it was a real human. Previous systems have had a pass rate <3%. It is #1 on NVIDIA's benchmark for full-duplex AI video.
It’s the first Human Interaction Model (HIM).Community noteThe 48% figure and "video Turing test" claim are from Tavus's own study of 54 one-minute calls, not independently verified or using a standard protocol. Griffin-Lite leads NVIDIA's VideoFDB benchmark on their public leaderboard.
cellcog.ai/blog/tavus-gri…
research.nvidia.com/labs/amri/proj…
tech-ish.com/2026/10/02/tav…
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The future is tokens
The future is tokens
AI is machine-native intelligence and crypto is machine-native money. Both AI and digital assets translate real-world inputs into formats machines can use. Our latest research looks at why that connection could become increasingly important as AI evolves. blackrock.com/us/individual/…
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This feels a little too close to Dario/Altman level fear mongering for AI given the stakes.
Agents won’t cause the bank run.
The banks will. Commercial real estate selling off 20% will. Regionals hold over $2tr of Commercial and MiltiFam real estate loans.
Over 1,100 banks are in “stress zone” already bc of CRE.
Long duration debt will too. Remember 2022-23? Regional banks are still sitting on hundreds of billions in losses due to buying duration <10yr and rates continue to rise.
They need lower rates to climb out of both holes.
Last month it was cryptos fault. Now it’s AIs turn.
(Here come the bank lobbies)
Agents won’t cause the bank run.
The banks will. Commercial real estate selling off 20% will. Regionals hold over $2tr of Commercial and MiltiFam real estate loans.
Over 1,100 banks are in “stress zone” already bc of CRE.
Long duration debt will too. Remember 2022-23? Regional banks are still sitting on hundreds of billions in losses due to buying duration <10yr and rates continue to rise.
They need lower rates to climb out of both holes.
Last month it was cryptos fault. Now it’s AIs turn.
(Here come the bank lobbies)
Fascinating.
Chief Economist at Apollo: agents could cause a bank run by sweeping household cash into accounts paying 3-5% instead of the 0.1% national average, causing banks to lose a large share of their cheap deposits.
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Daily dividends - first @Strive now @Strategy .. soon all S&P500
Imagine if millions of retirees who depend on dividends to live didn’t have to wait months or quarters to receive them.
Imagine if millions of retirees who depend on dividends to live didn’t have to wait months or quarters to receive them.
Strategy is proposing daily dividends on $STRF, $STRC, $STRK, and $STRD, accruing every calendar day, including weekends and holidays, and paid the next business day, with economics unchanged. The proposed changes aim to support price stability, liquidity, and demand.
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Remember. Bitcoin rallied after the SEC called @Grayscale ETF filing “Arbitrary and Capricious” in 2023.
A year later BTC was up ~100%.
Clarity Act getting blocked was our 2026 “Arbitrary and Capricious” moment … again delivered by the Democratic Party.
Regardless the market sees signal and is usually right.
A year later BTC was up ~100%.
Clarity Act getting blocked was our 2026 “Arbitrary and Capricious” moment … again delivered by the Democratic Party.
Regardless the market sees signal and is usually right.
We’re one week out from the Clarity Act failing.
- SEC publishes Innovation Exemption
- CFTC ships crypto rules to the White House
- CFTC updates FAQ on crypto activities
Crypto assets and equities tell the story.
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Keep watching this. Higher
BREAKING: US M2 money supply jumped +$124.9 billion in August, to a record $23.34 trillion.
This marks the 28th consecutive monthly increase, totaling +$2.61 trillion.
YoY, M2 grew +5.7%, its largest YoY increase since June 2022.
This marks a sharp acceleration from +2.0% YoY 024.
Meanwhile, since the 2020 pandemic, M2 money supply has surged +$7.85 trillion, equivalent to +$1.21 trillion on average per year, or +6.5% annualized growth.
US money creation is picking up speed.
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Excited to join @BTCtreasuries next week in NY to talk about the opportunities for Digital Asset Treasuries, and Bitcoin Yield.
JUST IN: @coinbase Asset Management's Anthony Bassili to speak at the #Bitcoin Treasuries Conference.
The $50 billion exchange giant isn't just banking the treasury companies on our floor — it holds BTC on its own balance sheet.
Don't miss him in NYC 🔥
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