Alex 🖖

🇺🇸🇩🇪🇺🇦 ₿ HODL, entrepreneurship, chess, piano, languages 🇨🇳🇫🇷 Rise early, work hard, strike oil - J. Paul Getty.

[Brian Armstrong @brian_armstrong]

Big week for Coinbase! Like I said on stage, thanks to all the Coinbase employees (and their thousands of AI agents) whose hard work and dedication made all of our announcements possible.

The everything exchange now includes pre-IPO perps, stock options, and tokenized stocks soon. We also redesigned Coinbase Advanced, and started to combine our global liquidity (between US and international users, and also Coinbase and Deribit users)

@CoinbaseDev is bringing the benefits of stablecoin payments to businesses everywhere, with fully custodial accounts using our compliance stack, and launched an awesome new dashboard for all dev tools.

For @base, we announced private transactions and Base App on web.

And finally, Coinbase is also becoming the financial account for AI - give your agent a wallet, get AI-powered financial advice, and connect your Coinbase account to your favorite LLM.

[Brian Armstrong @brian_armstrong]

Banking on your phone used to sound crazy, and now everyone does it. Using AI agents to manage your financial life will follow a similar path.

Your agents can now connect to your Coinbase account. Trade, pay for services, and operate autonomously (within spending limits and guardrails that you set).

[Michael Saylor @saylor]

Bitcoin Capitalism — my keynote from @BTCPrague 2026.

Digital Capital is the foundation for Digital Credit, Digital Money, Digital Yield, Digital Equity, and a universe of Bitcoin-backed products and services.

Timestamps:

01:37 - The Four Bitcoin Ideologies and the case for Bitcoin Capitalism
03:29 - Bitcoin as Digital Capital: thousand-year capital with a half-life of infinity
06:12 - Bitcoin network snapshot and ~68% dominance
07:41 - What is money? The Austrian view, the conventional investor view, and “Bitcoin is money, everything else is credit”
09:21 - Digital Money and Digital Credit: bitcoin-backed products for fiat-facing investors
11:28 - Digital Credit: an ~$11–12B asset class that was zero 12 months ago
14:54 - Bitcoin’s opportunity: $1T of bitcoin vs. $1,000T of global capital
15:43 - The 10-dimensional model for reaching stranded capital
16:44 - 1) Asset types: commodities, equities, credit, derivatives, real estate, money, and tokens
18:07 - 2) Capital functions: store of value, appreciation, income, collateral, and payments
19:29 - 3) Custody: self-custody, banks, custodians, broker-dealers, prime brokers, and exchanges
20:34 - 4) Jurisdictions: 664,000 legal and regulatory environments for capital
22:03 - 5) Distribution networks: banks, exchanges, payment networks, and $156T controlled by wealth advisors
23:13 - 6) Account forms: retirement accounts, brokerage accounts, insurance policies, treasuries, and trusts
24:51 - 7) Risk: market, currency, duration, regulatory, credit, technical, security, theft, and counterparty risk
26:03 - 8) Liquidity: transforming $350T of illiquid capital with liquid digital assets
28:02 - 9) Investors: banks control ~$200T and need compliant bitcoin-backed products
30:09 - 10) Product characteristics: fixed rate, floating rate, leverage, callability, fees, and structure
30:45 - The 10x10 matrix for channeling global capital into Bitcoin
31:19 - How $10–20T of capital could expand Bitcoin into a $100T network, moving from $70K to $700K to $7M per bitcoin
32:10 - Bitcoin Capitalism as a Darwinian market: winners, challengers, failures, and 1,400 companies tracked by Strategy
34:53 - Existing bitcoin-backed products: @Trezor, @Unchained, @Fidelity, @Fold_app, @Tando_me, @Relai_app, @CashApp, @HodlHodl, @AnchorWatch, @Meanwhile, $IBIT, $STRC, and $MSTR
40:03 - Digital Capital, Digital Credit, Digital Money, and Digital Yield competing with traditional capital markets
41:03 - Digital Money and Digital Yield: better stablecoins and higher-yield bitcoin-backed products
47:27 - 3 ways to participate: savers, investors, and innovators
49:19 - The aluminum airplane analogy: people buy the product, not the commodity underneath
52:29 - Build a ₿ridge to connect $BTC to the global capital markets
53:42 - 10,000 products, 10,000 needs, and 100,000 corporate efforts to change the world

[New York Post @nypost]

Today’s cover: Finally! Knicks win first NBA championship in 53 years to cap playoff run for the ages https://t.co/K59FGwNCtp

[NEW YORK KNICKS @nyknicks]

NEW YORK, NEW YORK 🏆

[NEW YORK KNICKS @nyknicks]

NEW YORK FOREVER
WE DID THIS TOGETHER
THE CITY'S ALIVE
KNICKS IN FIVE

[NBA @NBA]

FOR THE FIRST TIME IN 53 YEARS, THE KNICKS ARE NBA CHAMPIONS 🏆

New York defeats San Antonio 4-1 in the NBA Finals, capturing their third championship in franchise history!

[Kalshi @Kalshi]

JUST IN: New York Knicks win first NBA title since 1973

[Michael Saylor @saylor]

Strategy has acquired 1,550 BTC for $101 million to increase our $BTC Reserve to ₿845,256. We have also increased our USD Reserve by $100 million to $1.0 billion. $MSTR $STRC https://t.co/1Zf1AVsP1H

[Brian Armstrong @brian_armstrong]

Good take

My guess is
- demand for intelligence is near infinite
- but 80% of workloads will be running on 99% cheaper models within 12-18 months
- 20% of workloads will still run on latest gen models where IQ maxing is important (scientific breakthroughs, higher level ochestrator agents?)
- rough analogy might be what % of macbooks or gaming PCs sold have the maxed out specs for CPU/GPU, prices are falling much faster than Moore's law here though
- this leads me to think the limiting factor will be energy and compute, not better models

At Coinbase we're working hard on routing prompts to cheaper models where appropriate, and in some cases have been able to keep costs roughly flat, while token usage continues to grow exponentially.

[Roland-Garros @rolandgarros]

It’s yours Sascha 👏

#RolandGarros

[Roland-Garros @rolandgarros]

Full joy 🏆

#RolandGarros

[Roland-Garros @rolandgarros]

ZVEREV ROLAND-GARROS CHAMPION 🇩🇪

#RolandGarros

[Roland-Garros @rolandgarros]

HE DID IT 🏆

#RolandGarros

[Brian Armstrong @brian_armstrong]

People still think (or feel) because Bitcoin is down crypto is down.

Derivatives/perps, stablecoins, prediction markets, etc are all up in crypto.

Crypto touches every area of finance, and is much broader than Bitcoin now. It will take some time for this to sink in.

(And yes - Bitcoin is going to do great and is as important as ever - one of many cycles we've all been through.)

[Coinbase 🛡️ @coinbase]

Pre-IPO perps are coming to Coinbase.

Starting today with SpaceX - now live for eligible users outside the US.

24/7 trading. USDC-settled. No expiry.

[Brian Armstrong @brian_armstrong]

Pre-IPO perps are great to get exposure to private companies before they go public (outside the U.S. only for now) and to help with price discovery.

Now on Coinbase with SpaceX as our first listing.

[Emmanuel Macron @EmmanuelMacron]

Champions d’Europe ! 🇫🇷

[Anthony Scaramucci @Scaramucci]

The AI train isn't slowing down; it's accelerating, the charts are parabolic, and if you're not nervous, you're not paying attention. Mike Novogratz and I get into all of it: the SpaceX frenzy, the jobs that are gone forever, and the conversation the Pope is having that Wall Street should probably be having too, all on this week's All Things Markets (@AllThingsMkts)

Watch/Listen on X, YouTube, and Spotify.

Timestamps
0:00 Mooch and Novo are back!
0:53 Bitcoin's "meh" moment, why crypto has lost the narrative
4:31 Michael Saylor's surprise move
5:45 Goldman raises S&P target to 8,000. Is this bull market real?
7:31 Oil shock warning: Exxon exec signals $150–$160 per barrel
10:49 Fixed income outlook and 18 years of bull market complacency
13:52 SpaceX $1.8 trillion valuation breakdown
16:50 Pope Leo XIV and Anthropic: a moral warning about AI
20:46 Claude 4.8 and the coming job displacement
22:23 Will AI crush software engineers?
24:18 Bullish vs Bearish
27:01 The $1.3B Bitcoin dark pool trade explained
31:04 What made you smile this week?