Backpack's strategy isn't just to get licenses--people have done that and will do that. Backpack will build the first regulated, unified Crypto + TradFi aggregation layer in the world. - There won't be Backpack offshore vs Backpack onshore. - There won't be fragmented liquidity. - There will be one system worldwide. CeFi and DeFi, together.

Thoughts on the Shielded Bitcoin work: - It’s more than a proof of concept. The @allocinitxyz team has done a clever job of designing this system — kudos! - There are valid concerns from people like @robin_linus that the cryptography needed for this is still experimental at best. Further, the consensus rules aren't enforced by L1 (an outside layer reads Bitcoin L1 to construct 2nd-layer consensus, much like our work on virtualchains back in 2017). - The Bitcoin community tends to support such “Bitcoin extension” projects which require no change to Bitcoin. However, having support from Bitcoin L1 for covenants can make life so much easier for shielded BTC. - L2s, like Stacks, can implement full privacy easily because hardforks are practical and the norm. The key bottleneck for shielded BTC on an L2 is the trust-minimized bridge. Covenants help with that as well. This is an encouraging step, and I’m sure the authors will address current concerns. We’ll likely see more privacy work around Bitcoin like @Glass_Coins and L2 shielded addresses (Stacks Satoshi Upgrade 3). If there is one takeaway, it’s this: if you support private Bitcoin, you should support covenants on Bitcoin. They’ll help both L1 BTC privacy and L2 BTC privacy a ton. Let’s expand the frontier of Bitcoin. Forward!

Former Microsoft CEO Steve Ballmer was asked by Charlie Munger, in front of a whole golf club, why he held his Microsoft stock when his partners sold. Then Munger added: "I know you're not that smart." Ballmer's comeback: "No, but I'm that loyal."

Has anyone built any really good real-time live visualizations of an agent trading? For example, you've got your agent running, and it puts on some spot trades, some perp trades, whatever. You can see some sort of timeline, position sizes, PNLs, those kinds of things in some sort of beautiful moving system

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+357,000 solana:So11111111111111111111111111111111111111112 Between August 4th and September 21, @FWDind 's treasury has grown by approx. 357K SOL to a total of 8.16M SOL at an average cost of $78.26 per SOL.

We are live! Improved opsec. Contracts re-audited from scratch. I know this has been a long time coming for those of you impacted by the exploit. Every day the exchange was offline was revenue that could have been directed to the recovery fund. I personally appreciate your patience. In the wake of the incident, the last thing I wanted to do was rush security for the sake of earlier revenue, so we took our time and did things properly. This is the biggest step towards recovery. More announcements coming on the DFX launch and recovery pool. For now, the protocol is collecting fees which will be added to the recovery pool once it is live. It is a long journey to recovery, but every journey starts with the first step.

With ethereum:0xa12cc123ba206d4031d1c7f6223d1c2ec249f4f3 recently making ATHs and growing interest in on chain privacy, I thought I'd reshare the original Zama thesis I underwrote in 2023