We are thrilled to announce Michael Weisz (@WeiszM) as the new CEO of Kamino After more than a two decades in fintech & private markets, Michael joins Kamino to lead us into our next chapter of institutional growth, and expand Kamino to the US market A letter from Michael below

Seriously? What’s the concern you ask, @vladtenev? The list of concerns is almost existential. U.S. securities laws are in place to protect investors. For good reason, we spend millions and millions of dollars every year to comply with U.S. securities laws. In good. conscience, how can Robinhood as a U.S. company set up an operation in far offshore Jersey, an island 3000 miles away, and market a security sort of posing as AMC in some shape or fashion, and not comply with U.S. securities laws. That is shocking and shameful. Our past issuance of equity to strengthen our balance sheet was vital to our success. Your setting up some kind of fictitious synthetic equity market decouples stock token ownership from a company’s ability to control its own capital raising efforts. Share ownership gives shareholders various rights, including the right to vote their shares. Your stock token pretend to be some form of stock ownership, but disclosures to the contrary notwithstanding, they are not ownership and they deprive investors of their rights. This quasi-fake market you are creating on the island of Jersey sows distrust amongst the public about financial markets in general. There already is distrust in financial institutions, you are potentially making it far worse. These are but a few of my concerns about your actions. I hereby call on you and Robinhood to voluntarily CEASE AND DECIST the trading of AMC stock tokens. If you don’t, our high priced securities counsel has been asked to see whether we can force you to stop. I also wonder how can the SEC possibly support your sham ignoring of U.S. securities laws. You can be sure we will be asking them.

It's amazing to see the governance work the Solana community has been doing for the past 18 months come to fruition. From SIMD 228 to today has been an arduous journey. Thank you to all the builders, stakers, and validators who contributed to this governance milestone. The 2 biggest learnings from SIMD 228 that we addressed with the SGP process were: - Pre defined variables for discussion period, voting period, quorum, pass %. This allows the conversation to focus on the actual issue and not turn into another meta conversation on the governance process itself. - Staker override. With SIMD 228 many validators voted against their stakers' wishes. With staker override, now the ultimate vote rests with the stakers. There are meaningful learnings from this recent vote which we will apply to further improve Solana's governance.

SCOOP: Treasury Secretary @SecScottBessent will do whatever it takes to "put the fear of God" into the bond vigilantes, shorting the long end of the curve in an attempt to drive the 10 year yield to 5%, Wall Street executives with direct knowledge of his thinking say. That would include buy backs, selling short-term debt, possible elimination of long-dated bonds like the 20 year etc. It's a short-term solution to keep yields from soaring further, strangling growth as the midterms approach, they say, and doesn't address the real problem: Debt now at the $40 trillion level, and competition for capital from AI buildout. Longer term, don't look for austerity coming out of the Trump White House in its remaining years, they say. The plan remains top possibly "grow" out of the debt level through increased tax revs because the cure for such high debt levels would be recession inducing taxes or austerity. Story developing

he's right. he got me. my proposal is opinionated. the truth is that I don't want solana to be a general purpose blockchain; i want solana to be the blockchain that eats up the world of finance. a general purpose compute platform does not really need fast finality. a competitive globally distributed financial system does. a general purpose compute platform does not need airtight censorship resistance guarantees. a competitive globally distributed financial system does. a general purpose compute platform does not need taker speed bumps or generalized application controlled execution. a competitive globally distributed financial system does. a general purpose compute platform does not need to be robust to extreme spikes in traffic, as it can just queue up jobs for later. a competitive globally distributed financial system does. to eat up the world of finance, solana will need to: 1. lower fees for market makers 2. add friction for takers 3. have enough bandwidth to support all financial activity 4. provide censorship resistance 5. provide 100% uptime with no degradation the resource fee, whose primary objective is to encourage developers to optimize their systems, partly addresses the first three in one fell swoop and is synergistic with future network upgrades. that is, the resource fee: 1. lowers fees for market makers for both spot (clob and prop) and perps (prop and spline). 2. raises fees on takers. 3. puts a firm incentive for apps to optimize their onchain computational footprint so yes, i am opinionated: i want 120 ms slots for solana. i want alpenglow for solana. i want ace for solana. i want mcp for solana. i want the resource fee for solana.

In a bear market it’s worth it to spend your time trying to find hidden gems. In a bull market, I think the best strategy is to bet on winners and let them compound. Don’t over trade and don’t let FOMO drive your decision making.

BREAKING: The US Treasury announces it will double the size long-term US government debt buybacks following the rapid surge in US Treasury yields. Repurchases of $2 billion will now be increased to "at least" $4 billion, the US Treasury said. The move is intended to provide "liquidity support" for bonds maturing in 10 to 30 years as total US debt nears $40 trillion. There is the intervention we have been calling for.