Joseph Morin

CEO | Pacific Resources Group | @prgsimplebiz | Founder Simple Settle & Simple P&L | 📊 Helping businesses avoid traps & grow profits | 🌲Sonoma Roots | #29er

[Joseph Morin @Josephjmorin]

Great data! Comparing to early FB & Yahoo from a network perspective makes sense.

Gary Vee once said his early investment in FB @ $200k became worth a “hefty 8 figures”.

He said he knew management was the real deal and that’s why he invested. Well… I think many us agree that JC & Co is also the real deal!

Here is the clip, if interested:👇

https://t.co/FXcMKWP6J7

cc: @JoshCrumb, $abxx, #29ers

[Josh Crumb 🆔++ @JoshCrumb]

Abaxx is native North American, but not in US 🇨🇦
Abaxx is native Chinese, but not in China 🇸🇬
1of1
Markets need to be neutral.
We are building a bridge, keeping the world trading, trusted prices. Trusted infrastructure. Global liquidity.

Biggest Abaxx news perhaps all year. First new Clearing Member since launch and it’s a big one. More coming. Great work by Nancy Seah and the Singapore ExCo team.
$ABXX.TO #29ers #WorldBuilders

[Sherlock @thesherlockview]

https://t.co/QREWEjl6Ap

[Joseph Morin @Josephjmorin]

@SenSanders No. You need to stop wasting money.

[Pacific Resources Group @prgsimplebiz]

Not all debt is bad!

✅ Learn how to tell if your business debt is helping or hurting you.

#SmallBusiness #DebtManagement #FinancialPlanning 

👉Watch the full breakdown on our YouTube channel @prgsimplebiz

⬇️FOLLOW PRG ON SOCIAL MEDIA⬇️
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[Pacific Resources Group @prgsimplebiz]

When small business financial distress sets in... corporate bankruptcy is an option...
but it’s not the only one. It’s just part of a bigger strategy.

If you’re dealing with creditor calls, vendor pressure, or tight cash flow , the real fix starts with:
✔️ Financial discipline
✔️ Knowing your numbers
✔️ Strong leadership

👉 Don’t rush the decision. Other options may exist
💬 Comment “HELP” or DM us to get started.

[Joseph Morin @Josephjmorin]

@viceroyresearch This argument is totally lame! Lord love a 🦆. Thank you @viceroyresearch for helping to finance my retirement. Appreciate it. #29ers $ABXX.TO

[Josh Crumb 🆔++ @JoshCrumb]

Wow, I couldn’t disagree more with something that ICE CEO Jeff Sprecher said in this interview today. This is such a massive tailwind for Abaxx that I don’t believe is understood or factored into our market and valuation at all. I’ll go over this more in our quarterly call this week.

..First off, I have nothing but respect for Mr. Sprecher and what he’s built. It’s nice to see an exchange founder with this mainstream airtime. And he’s been nothing but encouraging and nice to me in our few brief interactions.

But our tech approach and vision is very different. When talking about 24/7 markets and the global distribution networks for capital markets over the internet (the shared goal and endpoint for both companies, both in pilot and rollout phase now), this is what Jeff says when talking about ‘blockchain’:

“..we’re not only going to have to change our technology, but we’re going to need to change how our legal contracts work, how things settle, what happens in bankruptcy”.

Jeff perfectly articulated the impossible part out loud, which we’ve been talking about extensively over the past year. Not only does the “blockchain #RWA vision” require worse technology systems to be distributed and sold into all institutions, adding more tech operations and more layers to the existing system (more fragility) to realize this flawed-vision of centralized ‘bearer token finance’—but we’ll also need to rewrite laws (in harmonization!) across the whole global daisy chain of distribution to not have solvency gaps? For what end goal, to maximizes the value of blockchain “bearer tokens” held by crypto funds, to try and backfill the the pre-sold bag of under-utilized “blockspace markets” for an exploding number of pseudo-decentralized (but legally reversible) L1/L2 surveillance-chains with no actual business moat?

I’m very surprised that a fellow engineer, Mr. Sprecher, thinks that replacing both global financial institutions core tech, and all global legal frameworks, is the optimum path here.

At Abaxx, we have a totally different engineered path to the reach the same end state (24/7, global, digital), while needing no replacement infrastructure and no new laws.

Why? How? Our core primitive is decentralized and resolvable [private] digital identity, and real-time #LegalFinality, which is always more important than #LedgerFinality when Law (🪨) beats Ledger (✂️); as securities and asset laws can always overturn ledgers with RWA. And our systems work with existing ledgers (centralized, regulated, private blockchains, public blockchains, any), and existing laws.

Can’t wait for the market to finally see and understand this about what Abaxx Tech has built with 🆔++ (and 🔜 at agentic operating speed with Agents++) in the second half of the year as our systems go live. Wow, so glad I watched this.
#29ers $ABXX #MarketOS

[James Duade @James_Duade]

Great post Josh, thank you for clearly articulating how Abaxx differs substantially from ICE on 24/7 trading and instant settlement.

You noted that you are surprised that Jeff as an engineer doesn’t see the faulty logic behind how ICE is approaching 24/7 trading, but I would argue that Jeff is more of a pragmatist and opportunist than an engineer—and I don’t mean any disrespect as he clearly has amazing instincts and business acumen

Someone correct me if I’m wrong, but Jeff bought a power trading firm with existing proprietary tech and then built that up over time, but he didn’t create it from scratch, that power trading firm became ICE. Then Jeff and GS merged the International Petroleum Exchange (owner of the Brent contract) with ICEs power trading business. IC3 eventually bought and bolted on a clearinghouse which became ICE Clear Europe, they bought the NYSE and pretty much used their attractive cost of capital to buy every critical piece of infrastructure they own…so I don’t see him as a builder but a shrewd acquirer IMHO. Don’t take my word for it, you can review ICE’s history and M&A 👇

https://t.co/fvMDIy9ob5

Compare that up against Abaxx that built their own Exchange, Clearinghouse, Custodian (Adaptive), Securities Exchange (Frontline), Spot markets, identity protocol, agents protocol, MarketOS trading platform, and even created a carbon credit company from scratch—everything Abaxx is today was more or less built from scratch!

Makes you wonder what will happen when they realize that their current 24/7 plans are a likely dead end and their acquisition of Polymarket can’t help them in a world that requires legal finality not blockchain finality.

[Josh Crumb 🆔++ @JoshCrumb]

There it is, folks. +50k contracts traded.

(…with limited hours, limited contracts and commodity-segments yet launched, limited data distribution still [🔜], limited clearing members and regions fully trading still, and not yet even utilizing our 1of1 #CollateralTech to expand access and capital efficiency in our clearinghouse and markets)

Thats +CAD$50mm rev annualized when this becomes the ADV norm.

As I’ve been saying, we front-loaded the build to the specs of our of global ambitions (to be one of 13 global exchange/clearing houses by my quick count) of +1mm ADV. This isn’t software sales CAC, the customers and demand was front loaded, already existed and we just needed to unlock them with a helluva lift to get the regulatory and pluming of the global machine in place. …we’re still in the mailing DVDs stage of disruption. Let’s get it.
#NowWeScale #PilotStage

[Josh Crumb 🆔++ @JoshCrumb]

Idk. Part of the original pitch around the Bay Street gutter was partially personal, apparently. But maybe now it’s ego with my public call outs and name calling 🏖️ 🏀🩳 ; or simply trying to survive ‘till there is a news lul (😂) or lucky break, macro etc. who knows.

But here’s some fresh data sent:

•70% of the U.S. trades today were short, 56% over the last week of trading into news…and the stock is up ~5%! #MayDaysBlueLightSpecial

..And everyone saw the obvious downticking from one house yesterday, net seller of ~$3.5mm with no buying the past week (and a long position seller doesn’t try for the intentionally worst price possible anytime bids are thin, and time an ‘orderly position exit’ at 3:59:50), so have to assume the percentage of selling to try to cap the price and paint a resistance is just as high in Canada.

[Joseph Morin @Josephjmorin]

@James_Duade @CboeCanada How bout this one?

https://t.co/r6A2zKDy1I

[Joseph Morin @Josephjmorin]

@James_Duade @Greenacres1000 @CboeCanada 😂

[Jeremy Bieber @JeremyBieber]

Your identity and your AI agent should be yours, not a double agent for a platform. Open source is the right way to build that trust.
Abaxx 🇨🇦 Agents++

[Josh Crumb 🆔++ @JoshCrumb]

One small step for 🆔++, one giant leap for agent kind. 🌖

This is the start, a first library release (more to come) of what could be the biggest moon shot within @abaxx_tech. I founded Abaxx ~eight years ago with digital identity at the core, the long horizon Thing that every other Thing gets us to. Turns out our architectural vision for humans was even more important for agents (the ones acting for humans, with protecting your data with accountability, skin in the game).

Digital Identity — 🔑 to unlocking the next stage of AI (a16z)
Digital Identity — 🔑 to unlocking real time token finance (Blackrock)
Sovereign Identity — 🔑 to reversing the enshitification of the internet for the next generation (Abaxx)

Now let’s put these libraries on a Tilt-A-Whirl. #29ers Please Retweet far and wide!
#MayDay #WorldBuildersOrBust $ABXX

[Josh Crumb 🆔++ @JoshCrumb]

Tomorrow we should cross the 1mm$ revenue mark for April trading fees on @abaxx_exchange

Just to conceptualize the growth rate:
Took full year 2025 = ~ 1mm
Took full first quarter 2026 = ~1mm
Now Just April = ~1mm

This is basically still just the “pilot” or priming stage of the exchange as well, no US, no China, no UK (who are all onboarding now given the liquidity building), just a few FCMs and their clients, with many more in process.
(Also no data revenue, options, oil, base metals or ags, and limited trading hours…and all before our ID++ tech related revs)

Most investors I’m speaking with still don’t conceptualize that we built a global market infrastructure at the global sale of the major commodity clearinghouses up front, so the “capacity” is at the 1mm ADV goal or more (something like 13k ADV now), so from here there is significant CAGR growth for years to come just in “growing to that capacity utilization” through more onboarding, more products, ramp up of existing (liquidity begets liquidity), with little additional CAPEX or any major growth in operating cost spend.
$ABXX #29ers #NowWeScale

[Josh Crumb 🆔++ @JoshCrumb]

I’ve sat in front of +$1T in PM equity capital over the past two days in Boston and NY (🙏 Robert Friedland & Jeff Currie, Cantor for the support), and the 400+ tuned into our conf call last week…

…A few rough thoughts and conversations:

• We are “investing” in a global scale futures exchange + clearinghouse for a 1mm ADV market, minimum (OPEX losses for 6 years in developing contracts, markets & customer development, a clearinghouse, tech, liquidity fly wheel, etc); but none of that shows up as a real tangible asset on our balance sheet (more about the ‘goofy mining engineer’s’ audacious approach below) — obviously newcomers get confused by the market cap vs historical rev…then at the same time understand that when [not if] the onboarding and milestones keep checking off, this can be worth substantially, substantially more with minimum additional capital
#WorldBuildersOrBust

• Conversations obviously night & day different now that volumes are growing significantly (and will likely compound exponentially for years to come), even though from an internal perspective almost nothing has changed in our pitch, our process, our products, our own self-expectations for half a decade
#PlanYourMineMineYourPlan

• Given the war (“Don’t mention the war!” -Monty Python), A LOT of detail on how Abaxx is building “the Federal Reserve of Molecules”, where the clearinghouse becomes a ‘Quantity Guarantee’ of commodities, which is far more important than a paper/survey ‘Price Guarantee’ for counterparty risk (again, major disconnect between the vision, service and scale of what Abaxx is investing in versus the ‘but wut revs & assets, bro?’ financials…so far!)
#LetsGetPhysical

• We have an #OwnerOperator mentality when it comes to dilution (🤢), will obviously want more capital on our balance sheet for the clearinghouse (even though working cap is plenty okay for a few more transformational quarters ahead); have global ambitions for our tech that I have kept in check and back burner for 6yrs and don’t want to dilute before it’s understood/valued, but always talking to strategics and creative expansion ideas / investors when price is right (2/2.5B?)
#29ers

• I’m not focused on break even (it’s a point in our network growth curve that will come and go in a blink of a trading session) — we should be spendvesting waaay more on leveraging our world class team and infrastructure (a business with the best people, operating leverage and multiples in all of finance). The only equation I think about is Fx(spendvesting in winning markets vs cost of dilution)

• There are only ~12 global scale future exchanges (+1mm ADV), but I only really consider two as competitors in the way I think about the world. Both highly respected and profitable, highly formidable and effectively founder led. ..but those ‘founders‘ will be in a different boat than me in 5 to 10yrs, and the world I’m investing in looks VERY different in 10yrs (the world looks VERY different in 12 months). #WeComing

(• What do I do in my “spare time”? I wrote a whitepaper/thesis on the future of computing this past weekend; Abaxx will not only be fully agentic_.md, and full of skills_.md for developing and launching new products and sales/client support etc over the next few quarters, but I might just have invented the “soverign computing stack” — maybe the ID++ tech stack for the future of ‘Bloomberg terminals’ if not all computing) #PrivacyEngineering 🆔++

• We invest in solving big problems with big payoff business models, collecting every under-priced option that we can along the way in our approach to spendvesting. We #ThinkDifferent, we like ”hot dog stand markets” that the oligopolies consider two small for the next few quarters; we will put 5yrs into a chance of long tail volume/rev streams that solves problems for our clients, +checks in the mail years from now

• We will keep investing in people (& agents) to do this
Human Captial >> Finacial Captial

#29ers $ABXX

[Joseph Morin @Josephjmorin]

@JoshCrumb Makes complete sense. We with you. 🙏 #29ers

[Josh Crumb 🆔++ @JoshCrumb]

My job as an engineer-entrepreneur is to look forward 5-10years and make an infrastructure investment, even when others see it as too far out or too difficult. At @abaxx_exchange we believed that an #LNG “buyer/seller of last resort” market was absolutely needed, a place to hedge price risk AND #QuantityRisk, where a central clearinghouse guarantees the performance of a futures market purchase all the way through to delivery.

So we built it. The only one in the world. It’s still growing and will be there for the next crisis (frankly, if the banks and capital markets didn’t sit on their hands with no vision we’d have it with more connectivity and more liquidity already, the clients have always been there demanding it — but the right people absolutely see it now and we will succeed).

The western world has chased paper markets (cash settled indexes, token abstractions, cfd gambling) at the expense of risk management for physical things for too long. That’s what we’re here to resolve.
#29ers #LetsGetPhysical $ABXX

[Joseph Morin @Josephjmorin]

@JoshCrumb @Greenacres1000 @ShortFocus @_riskFULL @DTizzle657 This is me with my $abxxf shares no matter what the 🩳’s do…