With the GENIUS Act becoming law, the stablecoin dam officially broke: @circle and @Tether_to cranking. @ethena_labs experimenting. @withAUSD rolling out stables-as-a-service As @dragonfly_xyz partner @HadickM explains, the race is on to $15 TRILLION

State of Stables drops tomorrow. A FREE 128 page report. Co-authors Include: - @circle - @Tether_to - @Anchorage - @CoinbaseDev - @trondao - @StellarOrg - @dragonfly_xyz - @SkyEcosystem - @global_dollar - @sphere_labs - @addressablelabs - @Bitso - @humafinance - @OndoFinance - @0xHyperBeat - @protocol_fx - @Perena__ - @PlasmaFDN More here 👇

Some personal news 🙌 I’m super excited to share that I’m joining @dragonfly_xyz to build out portfolio support! Thrilled to be working with some of the most brilliant folks in crypto and excited to learn from powerhouses @casatay @hosseeb @tomhschmidt and the whole team!

Polymarket has acquired QCEX, a CFTC-regulated exchange and clearinghouse, for $112 million. This paves the way for us to welcome American traders again. I've waited a long time to say this: Polymarket is coming home 🇺🇸🦅

It is now obvious that the growth of digital dollars and stablecoins is not only the most important story in crypto, but all of finance. There are hundreds of billions in latent TradFi demand for crypto exposure, but this demand is primarily focused on a narrow subset of themes: BTC, ETH & stablecoins. The launch of StablecoinX will provide the first pure play exposure for equity investors to the fastest growing company in the most important thematic trend in crypto: digital dollars upgrading money into the internet era and eating all of finance in the process.

Whew, looks like I’m set

in just a week, the @fantasy_top_ crew and community has already brought so much good energy to @base

Remembering when a few dozen top hedge funds were paying 8%-12% to short USDT.

So we’re about to get massive liquidations of all the wrapped ETH products?

With institutions barreling into public ETH treasury plays – we're seeing ETH getting sucked out of on-chain markets, both a unique opportunity to fill in the supply gap and an adverse impact on the ETH leverage looping trade. Current ETH supply rate on Aave just blew out to 11%, borrow rate at 14%. Second time this week. Over the last 24hrs, WETH TVL on Morpho is up 17%, with rates around 2%. This is important because of the leverage ETH loop where the underlying asset makes 3.4%. If rates spike over 4%, you'll see these start to unwind. Currently stETH withdrawals on lido are taking 10 days given queue, stETH depegged by 2bps on secondary markets, and as ETH price action continues you'll see longer withdrawal queues, depegs and rate spikes. Bullish ETH, but with any move this fast, all eyes on risk and making sure you're working with the right counterparties. When will these treasury companies start deploying into Aave and Morpho on the supply side 👀