Deathereum

Hibernating. Past: cofounder @bluechip_org, M&A, venture investing

[Deathereum @Deathereum]

Personal update - I have stepped down from my role at @bluechip_org after 3 years.

When I first got into crypto in 2021, stablecoins didn't attract nearly as much attention as they do today. A Youtube recommendation led me to @nnevvinn 's lecture on tackling high inflation through stablecoins. The idea that 'stable currency is a human right' resonated with me and led me down the rabbit hole and I was hooked. My studies and essay on the origins and history of money and stablecoins set the foundation for Bluechip's stablecoin risk methodology.

Shortly after the UST/Luna fiasco, @nnevvinn, who'd seen my essay, pitched to me the idea of an independent stablecoin rating agency.

Three years later, stablecoins have completed their 0 to 1 journey and @bluechip_org continues to work on its mission as favourable regulatory developments emerge. As for me, I've spent the past few months exploring payments, FX and other uses cases enabled by stablecoins. I now want to play a more active/hands-on role in the next phase of stablecoin growth.

I thank my teammates @GarettJones , @levitben and @AmeyOnX for the journey we've shared and wish them the best as they continue building Bluechip.

And finally, I’d also like to thank these folks who've been generous with their time and support over the years: @nnevvinn , @prince_lantern , @mcarrica , @gizmothegizzer , and @randomishwalk .

Cheers.

[Deathereum @Deathereum]

Masterstroke.

[Tether @tether]

When the industry faces challenges, Tether steps up. 🛡️

We are leading an up to $150M recovery plan alongside the @SolanaFndn to support user recovery and safely relaunch @DriftProtocol

Watch the video to see how we're protecting the community and expanding $USDT on Solana. 👇

[Deathereum @Deathereum]

Hilarious. Pot calling the kettle black.

The man pioneered this playbook, draining USDT/USDC from USDD’s reserves.

Tron DAO Reserve which controlled reserves supplied USDC/USDT into JLend (Justin’s own ‘permissionless’ lending market). He then borrowed all USDT/USDC from the lending pool against TRX collateral.

[H.E. Justin Sun 👨‍🚀 🌞 @justinsuntron]

I have always been an ardent supporter of President Trump and his crypto friendly policy.

As an early supporter who invested heavily in World Liberty Financial, I did so because I believed in the vision that was presented to the public: a decentralized finance platform that would promote financial freedom, remove intermediaries, and bring the benefits of DeFi to mainstream Americans.

What was never disclosed — to me or to any investor — is that World Liberty embedded a backdoor blacklisting function in the smart contract used to deploy WLFI tokens. This function gives the Company unilateral power to freeze, restrict, and effectively confiscate the property rights of any token holder, without notice, without cause, and without recourse.

This is the opposite of decentralization. This is a trap door marketed as an open door.

I denounce the ongoing token scandals by the bad actors at WLFI.

I am the first and single largest victim, as a result of their wrongful blacklisting of my WLFI token wallet back in 2025, that violates basic investor rights and blockchain principles of fairness.

Every action taken by the WLFI team to extract fees from users, to secretly implant backdoor controls over user assets, to freeze investor funds without disclosure or due process, and to treat the crypto community as a personal ATM — all of these actions are illegitimate and were never authorized by any fair, transparent, or good-faith community governance process.

The governance votes cited to justify these actions were not conducted through a fair or transparent process. Key information was withheld from voters, meaningful participation was restricted, and the outcomes were predetermined. These votes do not represent the will of the community — they represent the will of those who designed them.

These actions have nothing to do with me. They have nothing to do with the investors who believed the promises this project made. We oppose every one of these actions in the strongest possible terms.

The WLFI team’s actions erode trust in the project. Unlock the tokens and uphold transparency for the community. Let’s build with integrity, not misconduct.

[Deathereum @Deathereum]

@defyneric @prince_lantern FYI

[Deathereum @Deathereum]

@Emmett_ @CantonNetwork Found a take even more embarrassing than that.

[Emmett | canton.network @Emmett_]

What people will eventually realize is @CantonNetwork @solana and @ethereum have the same permissionless properties but only one of them have the privacy required to support regulated capital markets.

There’s no denying institutions have to live in a multi-chain world but they are going to start where liquidity is deepest and has the lowest friction from architectural design, risk and compliance standpoints.

This is why Canton is accelerating. Firms realize Canton provides the distribution for capital markets scale with compliance in a simple design.

Maybe one day these transparent chains will figure out privacy and be able to support capital markets scale, but as of right now, only one chain can measure success in trillions… Canton.

[Deathereum @Deathereum]

@ahboyash Very weird behaviour. I don’t think I’ve ever interacted with that account or any posts about them before, but just found out I’ve been blocked too.

[Deathereum @Deathereum]

You’re in a ‘this is not a problem until it is’ scenario. You’re still in violation of some country’s tax code (not the UAE’s). If you spent >183 days in a year in the UAE, you can claim you’re a tax resident. If not, other countries can claim you as their tax resident based on other criteria. Talk to a qualified tax advisor.

[Deathereum @Deathereum]

@DouglasGan Hey. Check DMs.

[Deathereum @Deathereum]

@0xAishwary @sandeepnailwal @0xPolygon ???

[Deathereum @Deathereum]

Tether coming for the crypto neobanks? Oh boy.

[Paolo Ardoino 🤖 @paoloardoino]

👀

[Bluechip @bluechip_org]

Stablecoins are not replacing @Visa cards. They are upgrading the company's backend.

As the Head of Crypto at Visa, @CuySheffield has the front row seat to drive this evolution.

Tune into Bluechip Dialogues as @GarettJones talks to Cuy about Visa's crypto strategy. Watch here.

[Deathereum @Deathereum]

@pablo_veyrat @AngleProtocol Respect the move. Good luck.

[Claude @claudeai]

Ads are coming to AI. But not to Claude. Keep thinking.

[Polaris @polarisfinance_]

Introducing Polaris.

A self-scaling stablecoin operating system.

Uncorrelated yields. No T-Bills. No CEXs. No compromises.

Here's what we've been building 🧵

[Deathereum @Deathereum]

Will be in NYC next week. Dm if you’re around and want to talk stablecoins/crypto/fintech!

[Deathereum @Deathereum]

@rileybrown @v_computer 🙏

[Deathereum @Deathereum]

@gizmothegizzer @Stablecoin @rossdefi can you help?

[Deathereum @Deathereum]

Big

[Zama @zama]

JUST IN:

The Zama Protocol is on mainnet. We just completed the first confidential stablecoin (cUSDT) transfer on Ethereum.

[Chuk @chuk_xyz]

the last mile will have the last word in stablecoin payments

onchain rails are largely solved

adoption is decided at the edges: on/off-ramps, cost, UX, coverage

strong report from @bluechip_org

[Deathereum @Deathereum]

@DeFi_Cheetah @bluechip_org @elsultanbitcoin @eldoradoio @0xdirichlet @sphere_labs @tikhbana @AcctualTeam @austincampbell @ZKZeroKnowledge @stablesbernie @stables_money @bebedaselva @blindpay Response here:

[Deathereum @Deathereum]

Appreciate you taking the time to engage with the report.

A few clarifications though, because some of your points are actually aligned with the report, and a few others seem to argue against claims never made.

1. On last-mile costs:
The 50-90% number is NOT based on wallet-to-wallet transfers. These are 'stablecoin sandwich' transactions with on-ramping and off-ramping costs baked in. Please see footnote 2 on Page 54. In sections 7.2 and 7.3, we have calculated savings considering ramp fees, FX spreads, etc. The singular objective of this report is to highlight ramp costs/friction!

On MoneyGram and cash networks:
These are presented as access-expanding rails, not the cheapest ones. If you look at the savings data on in the table on page 56, you'll see the 'high costs' you talk about factored in. Despite this, savings are substantial. Cash always has a handling cost and that may seem high, but when you compare it to the alternatives, you'll see these high-cost options are actually some of the the cheapest around!

You say "The total cost savings for end users will just be closer to 10-20%" - I would urge you to take a deeper look at the numbers in the report.

2. On ZKP2P:
Nowhere in the report do I imply or suggest that decentralized P2P and ZKP2P 'are the future of low-cost permissionless ramping'. You're arguing against a claim I never made. ZKP2P is an interesting product worth highlighting, not a sweeping recommendation as you seem to think. It is an example of how the market is trying to compress costs under heavy regulatory and UX constraints. It comes with obvious fragility, which you rightly point out.

3. On P2P and regulatory hostility: We are in agreement actually. Across the report, we've mentioned that low costs are accessible in many places only through P2P markets or CEXes. We highlight that while low costs are sometimes acheivable, the UX cost is way too high. I am not advocating for P2P usage in violation of regulations.

4. On regulation and banks:
'While the report claims that banks will soon become the dominant, low-cost ramps." - Again, no such claim was made in the report. Instead, it is pitched as 'a potential solution' given the licensing, scale and credibility they already have, and presents 2 alternative paths to that. The report explicitly positions fintech and orchestration layers as the interface, with banks mostly in the background for now.

Net: most of what you’re describing actually reinforces the core point of the report - that stablecoins work, but cost, UX, and regulatory friction at the ramp layer are what hold back non-speculative adoption.

Happy to continue the discussion.