Session 3 of SBC is fast approaching, featuring several members of the @category_xyz research and eng team and their latest developments. Monad is and will continue to be at the cutting-edge of performance. Built to be open.

The Senate Banking Committee (SBC) will markup CLARITY Act this week (Thursday, May 14). If Democrats vote for the bill in markup, likelihood of ultimate passage on the Senate floor increases significantly. Here’s our overview of SBC Democrats and their views on crypto.

6 of 34 papers at SBC this year are co-authored by Category Labs researchers. We're at Stanford all week, presenting across the main program, the MEV Workshop, and the Whitepaper Reading Club. Schedule below. Come say hi!

Thanks to everyone who joined us yesterday at Stablecoin Sessions during SBC in Stanford. Great conversations with founders, builders, investors, and operators working on the next generation of stablecoin infrastructure.

Microduck got its new brain! Our first fully custom SBC in a Pollen robot! It replaces the Radxa + board sandwich from the prototype. Built by Seeed around the same Rockchip CPU but including better memory, better WiFi/BT, dual NFC antennas, user-facing status LEDs, an RGB flashlight, and major improvements in cooling, cable management and boot speed. First revision arrived, and we got everything running on it within a day. Pretty good day :) A big milestone on the road to shipping!

🌙 What a room at Build N Build Night! On the sidelines of SBC, YZi Labs & @BNBChain brought researchers, founders, and investors under one roof to explore how technical breakthroughs become products, companies, and new markets. Thank you to everyone who joined us in Palo Alto. We can’t wait to do it again! 🤝 @BNBChain @CBRStanford @initc3org @theBBFund @StanfordSBA

Tokenization got the assets on-chain. Most of them still sit idle. We’re changing that. @PeiChen01 joins the Institutions and Tokenized Markets panel at @StanfordSBA BASS SBC 2026, alongside @Anchorage, @FTDA_US, and @krakenfx. 📌 Thurs. 7/30, 11:45am PT, Stanford Faculty Club

Read Robert Sassoon's recap from his recent podcast with Stephen R., Head of Global Planning and Strategy at SBC Medical Group Holdings_Global. Those interested can listen to this podcast on all platforms or on our website. Links are accessible in our full report! $SBC #SBCMedicalGroup# #Healthcare# #Aesthetics# #Longevity# #Wellness# #MedSpa# #HealthcareInnovation# #ArtificialIntelligence# #MedicalServices# #PreventiveHealthcare# #GlobalExpansion# #Biomarkers# #ConsumerHealth# #SmallCapStocks# #InvestorInsights# #WaterTowerResearch# @SBCmedical @sbcmedical_hd

Stock based comp only matters for valuation when the perceived enterprise value has shifted to the next 5-7 years FCF instead of end state terminal value. The shift from one to the other is the major consideration. Not the SBC itself.

$SPCX SPACEX DELIVERS A MONSTER Q3 2026 EARNINGS: - Revenue $14.6B +161% YoY - EPS $0.35 - Net Income $4.4B - Adjusted EBITDA $8.8B +306% YoY - Operating Cash Flow $13.1B - Capital Expenditures $19.6B - Space Revenue $1.8B +6% YoY - Connectivity Revenue $5.2B +69% YoY - SI Revenue $7.6B +830% YoY The most impressive part of the earnings was that the datacenter business was net profitable and if not for a $1.2B SBC charge, it likely would've pushed operating leverage and margins even higher with the 1.7GW of capacity $SPCX has brought online. Pretty incredible, along with SpaceX's first ever video call with the company showing off videos of their recent highlights with Starship!