TRACK STABLECOINS

“Chet, yesterday, disco fam, you guys, we are here. We were calling this yesterday. We pulled up the liquidity cluster, if you guys recall. Now I haven't hit refresh on this, but yesterday, we talked about $73,500. Highlighted it, gave you the reasons, gave you the rationale. I said, we must wick below this range. Why? The liquidation heat map is calling for it.”

“Stripe is a payment processing company. They handle credit cards, digital wallets, and they do 1,900,000,000,000 in payments. Stripe has a new blockchain. It's blockchain machine payments a k a. This is the preferred payment for AI. That is gonna be their strategy here.”

“Long term collaborator of payment service provider configured and managed the validator node in house following six months of joint work with their engineering team at Tempo to integrate Visa's infrastructure directly into the blockchain. This isn't Visa, you know, letting in four dorks that look like they work for Doge carrying in their laptops. Visa sent their own dorks to go work with this blockchain.”

“And so what's really exciting today is, you know, we've gotten to the point where we have US clients, you know, two banks in The US, LeadBank and Cross River, you know, who are now onboarded and are starting to settle their transactions in USDC over the Solana blockchain. So really excited to continue to grow the momentum we have, with stablecoin settlement across our network.”

“Everything we do, we wanna make sure we're doing it in partnership with our clients in our network. To me, they care less about the network. They care less about the clients. I think they care more about the government, Drew. They don't wanna do something just to see the next administration roll everything back.”

“This paper, what they're not doing is, they're not saying we've broken elliptic curve cryptography. They're not saying we have a machine. They're saying, if you had a machine, this is the algorithm you would run on the machine, and these are the resource requirements. They've posited that you, if you had a superconducting qubit quantum computer, you could break elliptic curve cryptography with 1,200 logical qubits.”

“Their big contribution was realizing if you had a quantum computer this size, you could actually crack elliptic curves in around 10 minutes, which is how long it takes for a transaction to be included in the blockchain. So this opens up Bitcoin to this new style of attack, what they call on spend, what I call short range tag. And so it changes the threat model for the worse.”

“Instead, you had the most of the Bitcoin core developers that I saw comment on this accused me of having a conflict of interest for drawing attention to the papers, ignoring the fact that I was not involved in these papers at all. This is Google paper and it's a Caltech and a Stanford paper. But the thing is, this is information that seems like only they are privy to, and if you look at the Bitcoin mailing list, there's no real evidence that there's any kind of posture that Bitcoin is going to upgrade.”

“Well, I think we so we made this investment in Project 11 over a year ago. And it was with the idea that we just believed that quantum computing was going to impact public blockchains. And eventually we'd have to have some sort of a migration to post quantum. Thus, we put our capital on the line beneath that thesis.”

“Then we have OpenFX, which is a stablecoin FX wholesale liquidity company. They've raised $94 million in a Series A led by Excel with Atomico, M13, and Pantera. FX market is just being completely upended by stablecoins right now. And the big wholesale banks are nowhere. So you're seeing these companies like OpenFX just get to tremendous scale.”