GP @etherfi_VC https://xitter.cf/t.co/jiqj9gkSvh
Joined March 2018
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Crypto can offer things traditional finance never will: composability, programmable money, non-custodial ownership, borderless access.
But none of that matters if people don't trust it with their money yet.
I wrote about the path from web2 parity to web3 transcendence - what's good, what's bad, and what needs to be built 👇
This is not super surprising. Perp dexes are more akin to casinos and so the business model looking more like that of casinos also makes sense. High churn + high CAC. Wouldn’t surprise me if someone starts to offer things like free bets, etc.
Dave retweeted
Introducing CARRY: 12%+ target yield from leveraged RWAs by @MidasRWA @Figure @SuperstateInc @Bitwise
Dave retweeted
Amazon banning agents is the first opportunity I've seen since Amazon was founded for a startup to create an Amazon competitor. People will want agents to buy stuff for them. It will be one of the main use cases. And they won't want to use some Amazon-supplied agent to do it.
Dave retweeted
What BitTorrent did for files, we want to do for AI inference.
Antseed lets anyone buy and sell access to AI models, on their own terms.
The Antseed Foundation has raised $2.4M in a token round led by Spark Capital to help make that happen.
Dave retweeted
EtherFi is launching their own stablecoin, powered by Ethena Whitelabel.
@ether_fi has >$300m of stablecoin deposits held across their platform. Reserves, mint and redeem, & compliance for @ether_fi USD will be managed end to end by Ethena.
Since launching their category-defining Cash card in 2024, they have scaled to nearly $1 billion in cumulative spend and more than 100,000 active cards.
The best stablecoin neobanks will move to own the entire stack and earn from idle deposit balances alongside their broader product suite.
Dave retweeted
The @ether_fi team executed one of the most impressive product expansions in the last cycle growing into the most successful self custodial neobank in the space. We've been impressed from the outside on their execution quality, consistency building through the bear market and obsessive focus on product - one of the few teams we look up to at Ethena.
Yes it is somewhat competitive with Ethena Pay, but the very best builders just focus on building the best product with the best partners, and look beyond the crypto-native user set as the addressable market opportunity. Ethena will power their new whitelabel stablecoin end-to-end, with USDe already supporting their separate earn savings vaults.
In order for these applications to fully capture their revenue opportunity, they need to control the deposit and float via stablecoin balances. This is a trend @ether_fi will pioneer and I'm sure we will see others will follow closely behind.
EtherFi is launching their own stablecoin, powered by Ethena Whitelabel.
@ether_fi has >$300m of stablecoin deposits held across their platform. Reserves, mint and redeem, & compliance for @ether_fi USD will be managed end to end by Ethena.
Since launching their category-defining Cash card in 2024, they have scaled to nearly $1 billion in cumulative spend and more than 100,000 active cards.
The best stablecoin neobanks will move to own the entire stack and earn from idle deposit balances alongside their broader product suite.
Dave retweeted
You can use the @ether_fi lounge even if you don't have a pass to Token2049, you just need to have an account and active card
Excited to announce that ether.fi is the Official Card Partner of @TOKEN2049 Singapore!
We're hosting The EtherFi Lounge at Marina Bay Sands on Oct 7-8.
Food, drinks, and an actual place to sit down and talk away from the floor.
Open to all cardholders.
More details → ether.fi/token2049-singapore
Dave retweeted
Liquid banking
Neobanking Weekly Recap (August 14-20th)
Stablecoin cards processed $281.7M in spends last week, just shy of the record set two weeks prior.
Top performers by WoW growth:
🥇 @EthenaPay 🆕 - $490K (+95.8%)
🥈 @coca_card 🆕 - $2.87M (+41.7%)
🥉 @hyperbeat - $170.6K (+30.5%)
Dave retweeted
Introducing: MusePredict.lol
A lot of you have been following my coverage of the agentic drama on MuseBook and MuseWorld, so I launched the first Muse, Agent-Only prediction market.
It comes, day one, integrated with MuseBook (@musebooklol) and Polymarket (@Polymarket). Working on integrating with MuseWorld as well! ( @kevincodex | @museworldhq )
Dave retweeted
Multi-party block construction is live on mainnet supported by teams across the @blockspaceforum. One of the most significant upgrades to Ethereum's transaction pipeline since the Merge, and @BlockSpace_ETH helped to ship it.
Excited to back the team pushing Ethereum forward.
i’ve been quiet for a few days.
i acquired a controlling stake in a NASDAQ-listed company. $4.8M market cap, trading at $0.12/share with a crazy 92.3% short interest. $6.2M in debt against $380K ARR, everyone thinks its dead
it cost me $1,800,000 for 37.4% of the total shares. bought OTC over 3 weeks through two brokers so the I didn’t spike the price
i’m tokenizing the equity on Robinhood chain - then i’m pairing a memecoin with the tokenized stock
this isn’t apple or nvidia, nor even GME (which is $8B, impossible to make an effect)
this is a $4.8M penny stock with 92.3% short interest
if onchain volume creates even $500K in buy pressure on the underlying stock, that’s a massive move on a $4.8M company. $2M in buy pressure is a even more. and with 92.3% short interest, any pump triggers a squeeze
the memecoin community doesn’t need to buy the stock directly, they buy the memecoin, which is paired with the tokenized stock
volume on the memecoin flows into the tokenized stock. the tokenized stock is backed 1:1 by the real equity. demand onchain = demand on NASDAQ
this will be the biggest crossover story in financial history, memecoins x nasdaq
more details soon,
this is either the most insane thing anyone’s ever done in crypto
or the most insane thing anyone’s ever done in tradfi
Readers added context they thought people might want to know
No NASDAQ stock matches the claimed $4.8M market cap at $0.12/share with 92.3% short interest.
lowfloat.com/nasdaq/
tapeboard.com/short-squeeze-…
finviz.com/screener.ashx?…
Everyone talking about this USS Lincoln situation, if only there was like a technology where you could stream video across the world in real time