$562m to the banks for the Anthropic IPO "show me the incentive and i will show you the outcome" Charlie Munger this design favours the large allocators existing shareholders leave money on the table, and most people can't get in at the offer price who is gonna get rekt?

as we discovered in the last year simply having assets onchain does not solve their adoption that’s why professional managers exist in tradfi and that’s the next cohort we need to onboard/bootstrap drive meaningful aum to onchain equities

tokenization is commoditized. the hard part has moved three things i took from a week of allocator conversations at @token2049 in Singapore - distribution is the bottleneck. capital willing to go first into a new asset class is scarce, and reaching it is harder than issuing - the market is growing up. speculation is cooling and a new cohort is turning up for yield they can underwrite - LPs want their blue chips productive onchain. hold the position, put it to work, and use that as the entry into the next build cycle, AI infra included that is a different buyer than the one this industry spent two cycles selling to good conversations all week, thank you @julian2kwan, @investax rayad, rayad group @edwin_mata, @Brickken @oct_florian, @OnchainLabs_ amay, atomic digital eric, @JSquare_co @lloydp, @FunFairVentures mariana, @scventuresDNA adrian, @binance @yaroslavwr_, @Faculty__Group paul kim, @libeara_ @BalderBomans, @Maven11Capital kate, @OnigiriVC @ArtemTolkachev, @falconfinance sood, curious ventures yuri, @vntrcapital samantha, j2 capital steve, @Compound_xyz david, @AccountableData

speaking at the @GammaSummit investing summit on tuesday institutional development of digital assets 09:35 to 10:05, the fullerton we spent september asking institutional allocators what they are deploying into, and what is keeping them from deploying more we'll discuss our findings with a stellar lineup: @dgogel, @leofanxiong, @AnbuKannappan, @margarita_kado, @BDXcris and @web3hayk if you allocate, come find me after

the exchange is shut. the loan against it is not tokenized SPY at 10pm on a saturday still needs a price, and maybe a buyer the pricing part is solved. @chainlink feeds now ship a session flag with the price, open, overnight or closed, so a contract knows the market is dark instead of trusting friday's last print the exit part is not. a flag does not give you a haircut, and a weekend liquidation sells into onchain depth alone that gap is a parameter, and parameters have owners. someone sets the LTV, and someone decides the saturday number is lower than the tuesday one the oracle tells you the lights are off. someone still has to decide how much less you lend while they are

upd on the telegram hack my old hacked account is now messaging my network with malicious links do not click anything from it. below is what it looks like my real account has my old handle and the same avatar you see here stay safe

upd my telegram account is still controlled by hackers @TheoriqAI Korea Community channel is also under control of malicious actors along with a bunch of chats owned by my lost account please do not interact to any messages from @incyd handle and groups where they’re an owner

upd my telegram account is still controlled by hackers @TheoriqAI Korea Community channel is also under control of malicious actors along with a bunch of chats owned by my lost account please do not interact to any messages from @incyd handle and groups where they’re an owner

innovation and the rulebook only look opposed when the thing is built wrong disclosure and transparency aren't a compliance cost you bolt on. done right, they're the architecture are vault curators fund managers? the label was never the point. how the vault is built is who can move assets. who approves what. whether a depositor can verify any of it without trusting our word for it our execution validation framework answers all three by design: → every transaction clears a two-thirds quorum of TEE nodes → checked against a frozen policy set, anything outside it rejected → simulated against the live portfolio before it deploys, not after → NAV, leverage and collateral verified on every action same standard behind our @FordefiHQ partnership, the execution layer our vaults run on build it right and you don't have to choose

not a headstand a genuine step to make vaults more transparent and reliable @TheoriqAI ships every transaction in alphavault eth and the gold vault through a 4-layer validation framework, with @FordefiHQ policy-enforced mpc signing as the final boundary private key never exists in full. no policy permits curators to withdraw depositor funds we're implementing new primitives faster than the rulebook grows. not to backflip around it, as SEC Commissioner warned last week but to transparently disclose the architecture, show the numbers, and help define the rules

is $spcx a meme or rwa? during our panel last week @perry8888_ raised whether meme and rwa can live together they do. most of the time you can't even tell where one ends and the other begins @SpaceX chart looks nothing like a dcf and everything like a meme the two values behave differently: rwa value comes from fundamentals and sets a floor the asset can't trade below meme value is built on the perception of individual players, which makes it pure momentum meme value has a bad reputation, mostly earned. it's also the best marketing engine an asset will ever have that's what most tokenization is still missing 95% of issued rwa has no volume and no tvl - perfectly wrapped, perfectly compliant, and nothing for a crypto community to bite on a floor with no momentum just sits there you need both

is Canada about to take back the lead in asset tokenization? going purely by the count of panels and presentations on the topic this week, the initiative in the room was hard to miss. teams from across the tokenization stack, all showing up in one place the sharpest moment from our panel was a two-word answer to the problem of idle tokenized assets: "do something" that line is the whole next chasm in miniature. getting an asset onchain is step one. making it productive is the actual work great to share the stage with @BiggieonZK ( @zksync ), @dr_zircuit ( @Zircuit ), and @hummusonrails ( @arbitrum ), moderated by @perry8888_ ( @TheBlockCo ) also good to catch up with @halford_martin, @Genia_XBT, @DomCarosa, @MikeBacina, @EricSpivak , @stevenkraft