Crypto feels firmly in its own post-dot-com era. Risk assets are down, companies and funds are closing shop, and sentiment is low. Momentum traders, the hype cycle, and culture has moved on to AI for good reason (the commodity + EM/China hype in the 2000s was a powerful narrative too). What followed the dot-com era blues, however, was relentless growth of cloud and mobile infra and apps powered by the internet. Trillions of enterprise value created. Salesforce, ServiceNow, and Shopify. AWS, Azure, and GCP. Hundreds of publicly traded companies. Stablecoins, perps, tokenized assets, credit protocols have been battle tested over the last decade and are open-sourcing capital markets to the world. Peering beyond the post-GENIUS horizon, financial services and payments will be completely transformed. We’re seeing this today with companies across the Fortune 500 gearing up to go live @withAUSD. Across use cases like trading, treasury, and embedded financial services. Nearly all of the recent breakout companies like @raincards, @turnkeyhq, @HyperliquidX, @fomo are driven by meaningful revenue not tokenomics. The crypto era had its chapters driven by experimentation and belief. “It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness.” The digital assets era is just beginning and it won’t look anything like what came before. That’s exactly what makes it exciting.

Many new banks are still using the old rails. They’re “winning” on opening up access to underserved clients (underserved for various reasons). Old rails = easy. Stablecoin-native banking and financial services is the real 0->1. Hard. Which is why it will change the world.

Very much looking forward to RWA Summit in NYC with many of our partners. Teams building onchain financial products (RWAs) need seamless, fee free transfers between dollars in the banking system and stablecoins. @withAUSD provides the best rails for them to do so.

Passing off AI responses as finished work product, which is incredibly obvious to anyone who uses these tools, is an increasingly pervasive red flag. It's not clever and clearly becoming too tempting for some individuals and organizations. I can prompt fable myself.

It’s true that Anthropic is the fastest growing company that Silicon Valley has ever seen. Which is all the more reason their incessant attempts at regulatory capture are not just unnecessary but frankly gross.

We asked @blend_money why it built its partner stack around @withAUSD and the @monad ecosystem. Co-Founder & CEO @mannyornothing says it's because of the founders behind the protocols. "We've all been hurt by these pseudonymous founders that want to put an NFT picture up and you don't know who they are. These people are willing to put their face out and stick a stake in the ground and say who we are." "Technology isn't really a moat anymore. It's the people and the partnerships that you work with. And if you have great partners like Agora and Monad that can help you get the core mission through, we're all in the same core mission, making crypto and stablecoins work."

Ethereum was the default for launching an asset or app for a decade. It had the liquidity, network effects, and neutrality. Feels like that grip has been slipping for awhile. Morpho launching Midnight on Base first seems worth noting. Heralding a new era...

The Robinhood vs. Coinbase competition is very healthy and fun to watch. Serious players with distribution are pushing tokenization and onchain rails forward. Great for onchain capital market development! Foot faults are only going to push them to counter more aggressively.

$100M+ AUSD on Monad, and we've just crossed 10,000 holders. We launched with @monad in November 2025. Eight months later, this is one of the fastest-growing application footprints AUSD has seen on any network.

The most active app (millions of transactions a day, 10x MoM growth across metrics) in one of crypto’s fastest-growing ecosystems chose @withAUSD as its foundation. Incredibly exciting to be a partner to their journey. Onchain capital markets accelerating.