> create great onchain product with crypto native assets > product works just as well (perhaps better?) with a broader set of assets > expand and make product better + increase tam by adding traditional assets to mix ---------- all the best projects from last cycle are getting *better* by extending their core products to more assets this cycle: > hyperliquid adding commodities, equities, pre-ipo stocks, etc > ethena extending basis trade to equity perps > pump adding tokenized stock pairs ---------- extremely bullish

All growth since July is from @kamino. New CEO @WeiszM is incredible. Perhaps best new tradfi x defi crossover exec since last cycle. @6thManVentures recently put on a core position in KMNO, and we plan to fight for and support this protocol, team and brand with all our might.

Think $SOL is about to make a big comeback and is the most asymmetric major over the next 6 – 18 months. Some notes. 1. After 10 months in a row of down only, most retail and funds have capitulated, leaving only committed holders 2. One of three index assets alongside BTC and ETH that both retail and institutions will reflexively bid once it’s clear we’re back 3. Highest concentration of revenue generating apps and some of the strongest network effects of any general purpose L1 4. Solana has the most credible path to scale of any L1 w/ slot times approaching 200ms by end of Sept 5. Upcoming SIMDs will strengthen SOL economics through increased fee burns and lower inflation. Estimate Solana REV could 2x – 4x in next year easy 6. Stablecoin volumes rivaling Ethereum, Tron, Base for top payments chain 7. Tokenized equity volumes are ramping with Solana as the leader across all L1s 8. Long tail markets like memecoins, TCG, and MetaDAO “ownership” (startups) coins are all accelerating 9. Social trading apps like Fomo and Pump are onboarding a big wave of new users with Solana as the largest beneficiary There were many reasons to be critical about Solana over the past year, but the past is becoming past. Fundamentals look great and the value capture story will only improve with each passing quarter. Targeting much much higher.

here is my UPDATED bag allocation after yesterday's green candles 60-70% majors: BTC, ETH, SOL, HYPE + ZEC 30-40% rotational: onchain, memes, perps and why $PUMP is my highest conviction midcap right now... 📈

David @friedberg on the hypocrisy of @RoKhanna: "This is some dude who has a $300M net worth. His children have memberships at 3 country clubs." "The dude lives in a $10M house in Washington, DC." "And he used to be the moderate Silicon Valley guy who would go around to all the tech CEOs and founders and VCs and be like, 'Give me your money. I'm a moderate. We're going to make the Democratic Party work for you.'" "Then he saw the tides change, and he's like, 'Oh, this is yum, yum. I'm going to run for president in 2028.'" "Just to be clear on this, he is so unlikable, I think he'll likely end up being Secretary of Housing and Urban Development if AOC is elected president." "I do not disagree with him or Gavin or anyone else that tax policy in America is fucked up." "When billionaires borrow against their unrealized capital gains, they should pay capital gains tax. Capital gains tax should be 40%, not 15% or 18% or 20%. In fact, labor should pay less. Income tax should be much lower. Capital gains should be much higher. That would be a fair tax policy." "I don't know a lot of people who are wealthy who will look me in the eye and truly disagree with that." "It's a lot of bullshit when we all say, 'It incentivizes investment.' Great, it incentivizes investment. What are you going to do with your excess capital if the tax rate is 40% versus 20%? You're not gonna invest it now? Of course you're going to fucking invest it." "But instead of those practical solutions like I just laid out, they're all like, 'Let's go fire up the fucking socialist train because it's worked so well in fucking Cuba and Venezuela and the Soviet Union and all these other places.'" "What both parties are missing is a policy agenda that says: Here's the shit we have to do to keep America from going down the socialist death spiral. And they all should be fucking doing it, both sides."

solana:A13oRB9FFaiUjfi6LdCg6p9ka1u8SfGkUFs4SKvPpump is much more than a token with upside potential. The real opportunity lies in the brand that can be built around it. In a market where thousands of memecoins compete for the same attention, sustainable winners need more than hype. They need identity, cultural relevance, strong distribution, narrative consistency and a community capable of becoming part of the brand itself. That is where I believe $TOAD has enormous potential. The objective shouldn’t be to position $TOAD as another short-term memecoin. It should be to progressively build a crypto-native cultural brand capable of reaching both experienced crypto users and complete normies. The character gives us a powerful foundation: recognizable, adaptable and capable of living through memes, art, animations, merchandise, collaborations, short-form content and IRL activations. But real branding isn’t about putting a logo everywhere. It’s about creating mental availability. When people see the character, the visual identity or even a specific style of content, the immediate association should become: $TOAD. If executed correctly, we can create a powerful acquisition flywheel: Content → Attention → Community → Culture → Distribution → New Holders → More Attention. At that point, the community itself becomes a decentralized distribution network. And that’s where we should start thinking beyond market cap. Market cap is an outcome. Brand equity is an asset. Attention is an asset. Distribution is an asset. Community loyalty is an asset. Cultural relevance is an asset. The opportunity is to combine the virality of memecoin culture with the discipline and consistency of a professionally managed global brand. Crypto-native enough for CT. Simple enough for normies. Distinctive enough to be remembered. Scalable enough to become much bigger than a token. The potential is there. Now it’s about turning attention into recognition, recognition into culture, and culture into long-term brand equity. That’s how $TOAD can become more than a memecoin. That’s how you build a brand. 🐸