Erwin

just another financial markets observer

[U.S. Embassy in the Philippines @USEmbassyPH]

Read: The United States and The Philippines Launch Plans for 4,000-Acre Economic Security Zone to Shore Up Supply Chains: First AI-Native Industrial Acceleration Hub Under Pax Silica
https://t.co/4luGlpIzXi

Fact sheet: https://t.co/pba14fflXt

[Axie Infinity @AxieInfinity]

Axie Infinity’s Next Decade

A note from the founders 🌙

Over the past seven years, we’ve harbored many dreams for Lunacia.

We dreamed of a walkable open-world where we could meet our friends.

We dreamed of a place to unleash the full economic and social potential of our axies.

We dreamed of bringing together everything we loved about Axie, all in one place.

Tomorrow, those dreams start to become real.

The first Atia’s Legacy playtest will kick off Axie’s evolution into a full social universe.

It lays the foundation for a world where you can fight, craft, trade, lead, and win. All as part of something bigger than any one of us.

Thank you for walking this path with us. The road may be long, but the destination will be worth it.

Lunacia will be a digital nation that will outlast us all.

With gratitude,

@Jihoz_Axie and @trungfinity

Full Founder’s Note 👇

📜 : https://t.co/iyJAX9lvIt

[Ronin @Ronin_Network]

RON Buybacks: Unleashing the Ronin Treasury

Ronin’s sleeping giant is waking up.

Over the past four years, the Ronin Treasury has accumulated a massive trove of tokens.

This silent stockpile has been growing in the shadows for too long.

We’re ready to unleash the beast.

On September 29th, the Ronin Treasury will begin buying RON from the open market.

This will benefit all RON holders from everyday Web3 gamers and NFT collectors to RON holders with conviction in our movement.

Here’s what’s happening 🧵👇

[Sahil Bloom @SahilBloom]

I came across data on who we spend our time with over the course of our lives.

Here are the 6 graphs everyone needs to see:

[Chris Barrett @ChrisBarrett]

Prediction: By 2032, the global crypto market cap will surpass half a quadrillion dollars. This will come from the tokenization of every major asset class on Earth. U.S. Treasuries, equities, real estate, commodities, and currencies will all migrate on-chain.

Once assets are tokenized, they can move 24/7, globally, and settle instantly. The on-chain economy will become the only real economy. Stablecoins backed by tokenized Treasuries will replace cash as the global settlement layer. Chainlink oracles will provide the trust layer that secures and verifies these markets, powering the rails of a $500 trillion tokenized economy.

Traditional financial markets will turn into front-ends connected to blockchain infrastructure. By 2032, “crypto” will no longer be a sector. It will be the financial system itself or how I like to think about “The Chainlink Industry”.

[RYAN SΞAN ADAMS @RyanSAdams]

People are still underestimating Ethereum.

They don't know America is coming onchain and it's using Ethereum as its ledger.

I demonstrated that Ethereum is leading in real world asset market share but let's add another dimension.

Let's talk Growth.

In the coming decades I believe Ethereum could become the root of trust for $100 trillion in American capital markets.

America onchain

People think America becoming the Crypto Capital of the world is just a meme. I understand if you thought that - most narratives don't have substance - especially from politicians. I was also skeptical.

But this one is proving true.

Look at the actions:
- Genius Bill signed = tokenized dollars/treasuries
- SEC's Project Crypto = tokenized stocks
- Every FinTech & Wall Street = all in on crypto

This is just the start.

In short, tokenization has been mostly illegal in the U.S. through 2024 but not only has it become legal in 2025 it's now being pushed by the U.S. government in an effort to modernize U.S. markets. Wall Street and FinTechs are incented to make this happen.

American Capital Markets are coming onchain.
Nothing stops this train.

So how much capital will America tokenize?

U.S. % of global marketshare:

- Stocks: 49% ($62T)
- Bonds: 40% ($58T)
- Corporate bonds: 34% ($11T)
- Government bonds: 51% ($29T)
- ETFs: 70% ($12T)
- Money markets: 61% ($7T)

Total: $120T (non-overlapping amount)

The U.S. will tokenize it's $120 trillion in a multi decade transformation. As the U.S. leads, all global capital markets will follow.

The U.S. dollar is the world reserve currency.
U.S. treasuries are the world reserve asset.

Ethereum will become the root ledger for American Capital markets and the world.

The market isn't pricing this in.

Ethereum = world ledger
ETH = world reserve asset

[Ronin @Ronin_Network]

Powering Ronin’s Homecoming to Ethereum with the OP Stack

Welcome to Ronin, @Optimism ⚔️

Last week, the Ronin Governing Validators voted to adopt Optimism’s OP Stack as an L2 provider.

Ronin is coming home to Ethereum, and Optimism is making it possible.

Today, the OP Stack powers a vast network of industry-leading blockchains and protocols with over $20B in total assets.

After this upgrade, these communities will be closer than ever to Ronin: Ethereum’s gamification engine.

Here’s what’s happening 🧵👇

[Giovanni Incasa @GiovanniIncasa]

The smartest Bitcoin bears make the strongest case.

Dave Collum called the 2008 crash in 2002.

But just told Tucker Carlson why Bitcoin will fail.

Here's how his reasoning destroys every bear thesis: 🧵

[Bankless @Bankless]

Just getting started, Happy Friday — $ETH

[Ethereum @ethereum]

Welcome home.

[Ronin @Ronin_Network]

Ronin is coming home to Ethereum.

Ready Layer Two ⚔️

Four years ago, we built Ronin because Axie Infinity needed a faster, more efficient network. Ethereum was still early in its scaling roadmap. Necessity was the mother of our invention.

However, things are different now. Ethereum is BACK. Transaction costs and speeds are better than ever. We’re early to a new era of growth, and Ronin is ready to rise.

Gaming will always be in our DNA, but we’re setting our sights on fulfilling a larger prophecy: becoming the gamification engine of Ethereum.

Ronin will become a full-fledged, Ethereum-aligned L2 by next year, and this is how it’s going to happen 👇

[Erwin @Empic10]

@AxieInfinity 🤔

[Ronin @Ronin_Network]

Ronin Builder’s Grants brought in some serious DeFi firepower.

Here’s a sneak peak of who’s coming to Ronin 🧵👇

[Adam Livingston @AdamBLiv]

🧵BITCOIN'S FINAL ATTACK

Corporate adoption of Bitcoin is the FINAL SPECULATIVE ATTACK on fiat currency.

Let me explain the game theory that every CFO will eventually realize… 👇

[Aureom | BYAC @aureomron]

Why $AXS might become the most hated bull run of this cycle. Don’t take my word for it — just follow the logic and verify the data yourself. 👇📷

@AxieInfinity
@Jihoz_Axie
@Psycheout86

[Ronin @Ronin_Network]

If the path were easy, everyone would take it.

But it’s not — and that’s why you’re here.

You’re a pioneer.
A warrior of a new industry.
A visionary shaping the future.

We are all Ronin, and this is a movement.

[RYAN SΞAN ADAMS @RyanSAdams]

Today is a big day for crypto

In the next few hours Trump will be signing the GENIUS act into law.

People think this just a stablecoin bill.

It's not.

This is the most significant step in crypto adoption in our 16 year history.

This is the almighty U.S. Empire, the master of the world's banking system and capital markets, declaring that the future of global finance is crypto.

GENIUS is a gas pipeline from the world's banking system to crypto rails.

The pipe will only get bigger.

In blessing the tokenized of dollars and treasuries the U.S. has just guaranteed every asset in the world will be tokenized.

Dollars are the world reserve currency.

Treasuries are the world reserve asset.

An asset gravity well.

We're now on a path toward full conversion of all banking infrastructure to crypto rails both in the U.S. and around the world.

The only question: years or decades?

In the fullness of time:

- All bank accounts will be stablecoins
- All bank ledgers will be chains

There will be many ledgers, but the odds are strong that Ethereum has cemented its place as the world ledger - a ledger of ledgers.

The things that are most clear in this new world:

Dollars = stablecoins
Banks = chains
Ethereum = world ledger
ETH = world reserve asset
BTC = store of value

Still, media attention is on crypto grifts and memecoins. They still think crypto is useless and have no idea the tectonic shift that's just been signed into law.

I expect they won't see any of this until it's here.

So if you show them this post i expect they'll say it's fantasy land.

But here's the reality.

The crazy idea we started with - that someday crypto will eat finance - GENIUS makes that all but inevitable.

July 18, 2025.

Today is a big day for crypto.

I can't believe we're here.

[RYAN SΞAN ADAMS @RyanSAdams]

The ETH bet this cycle is institutional.

Let me explain.

The crypto bull market has been defined by one thing - institutional flows to BTC.

BTC caught a bid as an institutional grade asset this cycle. This unlocked the largest capital pool in the world and propelled BTC to $2.5 trillion.

BTC is going higher too.

Because of BTC's explosive growth and dominance people started to assume BTC would be the only institutional grade crypto asset, maybe forever.

Narrative follows price.

As a result buyers sidelined the second largest crypto asset and the network leading on tokenization, stablecoins, and bank ledger chains (L2s).

They sidelined ETH.

Even while the institutions continued to build on Ethereum:

1) Stablecoins hitting all time highs - and that's before GENIUS act which will bring supply to trillions

2) RWAs growing fast with Larry Fink talking about Tokenizing the world - the market for RWAs measures in the hundreds of trillions

3) Robinhood following Base in launching an L2 - the wealth of millenials and gen z secured by Ethereum

Then something strange happened.

@ethereumJoseph launched @sharplink - an initial boost of confidence for ETH as a treasury reserve asset.

A few weeks later Wall Street legend @fundstrat launched @BitMNR - his own ETH treasury company aiming to surpass all others - Peter Thiel owns 9%.

For the first time ETH the asset had bulls on traditional media and wall street talking about ETH as a reserve asset and backing it up with skin in the game.

The most bullish thing for ETH is to be understood.

We're just 1 month into a horse race between half a dozen ETH treasury companies trying to buy Michael Saylor levels of ETH. Some of the largest haven't yet launched.

In the background ETH ETFs are painting numbers.

Yesterday ETH ETF inflows exceeded $717m the largest in ETH history - on the cusp of flipping BTC flows.

This is what institutional demand looks like.

Still...there are many investors sidelined - after 4 years of lack luster price performance many lost conviction in ETH - even now we're still $1,200 down from 2021 all time highs.

But maybe all they needed was patience.

If ETH is the next institutional grade crypto asset then multi-trillion Ethereum is pre-programmed - the sideliners will be forced to catch up.

The bet for ETH is simple.

Institutional demand is the driver this cycle.

ETH is the next institutional asset.

Tom Lee said it best.

ETH is the next bitcoin.

[Bitcoin Archive @BitcoinArchive]

MUST WATCH: Andreas explains Bitcoin's future in one minute, back when it was $200 🤯

[Axie Infinity @AxieInfinity]

We're delighted to be joining as a member of the Strategic ETH Reserve.

We created the web3 gaming industry, which is ultimately a new and novel use case for the EVM.

These funds are part of the Axie Infinity Treasury, a pool of assets that back the value of the $AXS token.