Marcelo Prates

Helping shape the future of money and payments • Duke Law alum (SJD ’18, LLM ’15) • Personal account: usual disclaimers apply

[Marcelo Prates @MarceloMPrates]

Bitcoin, stablecoins, CBDC, cash:
which will survive the money wars?

If you want to know more about the recent evolution of money, you can now download the published form of my article here: https://t.co/Ln0uub6Nwu

[Marcelo Prates @MarceloMPrates]

Fantastic World Cup coverage by @TheAthleticFC. Their daily newsletter is informative and fun. National anthems ranked? Sure, @TimSpiers nailed it (I’m a little biased). Their only competition right now in information and fun (sometimes drama) is this kid: https://t.co/uhBXgtHueo

[Marcelo Prates @MarceloMPrates]

Yesterday was a tough day for Brazilians, @BrazilBrian, @drewcrawford_ .
Mbappe started his third World Cup with a brace.
Haaland responded with “no problemo” and did the same.
Then came Messi, and of course he said, “hold my mate!”
Full (sad) coverage: https://t.co/Y9GEFHD7AB

[Marcelo Prates @MarceloMPrates]

Full coverage of this fantastic World Cup: https://t.co/Q9GONSEwmq

[Marcelo Prates @MarceloMPrates]

Brazil playing in the World Cup? The analysis comes with knowledge and passion — lots of passion!
https://t.co/sKQH731w5D
Same passion displayed by the great @ESPNFC team: @KayLMurray @ShakaHislop @AleMorenoESPN

[Marcelo Prates @MarceloMPrates]

Full coverage of this fantastic World Cup: https://t.co/hTWwv8vF06

[Marcelo Prates @MarceloMPrates]

Why the US fans should #believe in their team: https://t.co/dhEYvM7Q1W
Agree? @MenInBlazers @AlexiLalas @jasongay @TedLasso

[Roland-Garros @rolandgarros]

GAME, SET AND MATCH: FONSECA 🇧🇷

#RolandGarros

[Jed McCaleb @JedMcCaleb]

Stellar continues to be one of best blockchains for real world use.

[Austin Campbell @austincampbell]

0/ You cannot simultaneously be permissionless cypherpunk resistance money and also be the mainstream global financial system.

Those are two different things, and they are opposites of each other. You literally cannot do both at once.

[Garand Tyson @gttyson]

Unfortunately, he’s right: Stellar has no “economic security” :(

You have to choose your counterparties. No spicy anonymous Russian validators.

You can’t front-run users. There’s no MEV market.

You can’t upcharge fees. Validators don’t get paid.

You can’t pull reorg attacks. Instant finality.

You can’t hide shady behavior. Validators are public.

You can’t buy authority. The community has to give you its trust.

You can’t get away with bad behavior. Anyone can revoke their trust.

Terrible system.

[DTCC @The_DTCC]

DTCC and the Stellar Development Foundation announced today plans to enable the tokenization of DTC‑custodied assets on the @StellarOrg network. This collaboration advances DTCC’s multi chain strategy and expands how traditional assets move across digital ecosystems.

DTC‑tokenized assets are expected to be made available on the Stellar network in the first half of 2027, supporting the evolution of a more open, interoperable, and efficient financial ecosystem.

Get the full story: https://t.co/YCWHZDiLl5

[Austin Campbell @austincampbell]

One: very interesting move by @the_dtcc moving onto an actual public blockchain. This is starting to move their project away from pure theater for private entities only towards the possibility of self-custodial, composable building onchain. A very positive step and I salute both DTCC and Stellar for this move.

Two: For a long time, I have been saying that there are a subset of blockchains better suited to institutional adoption than others. Those with structured and customizable controls around assets, validators, and trust assumptions are likely to dominate (e.g. @StellarOrg, or if you want another option, @avax). These are some of the most disfavored by crypto natives, but the thing to understand is the institutional preferences are not the same.

Institutions care more about open access + credible neutrality amongst each other + appropriate controls than maximum decentralization.

Think open banking, not cypherpunk.

[Denelle Dixon @DenelleDixon]

Banks that aren't scared of "open" technology are the ones winning.

The openness of blockchain actually allows institutions to move faster and at a lower cost, while enabling stronger compliance and risk management.

The good news: it's not too late to "go open."
https://t.co/k9ofAm5IZg

[Marcelo Prates @MarceloMPrates]

@BrazilBrian Not pão de queijo?!

[Gab 🧘🏻‍♀️ @gabsgatti]

https://t.co/qjUXRN9GKv

[Marcelo Prates @MarceloMPrates]

@mcagney @Figure Sure, but as several other fin intermediaries, brokers also have fin privacy obligations. They have to protect your private/confidential info, and any illegitimate disclosure will get them (and their bosses) in legal trouble.

[Marcelo Prates @MarceloMPrates]

@mcagney @Figure Securities laws and regulations set the situations/thresholds that trigger public disclosure, like being an officer/director, owning more than 10% of a pub co stock, owning more than 5% of a pub co voting power.

[Marcelo Prates @MarceloMPrates]

@mcagney @Figure The goal of market transparency only supersedes individual privacy if you hold influential or significant positions on a given stock. Otherwise, privacy is not only expected but legally mandated (financial privacy rules).

[Marcelo Prates @MarceloMPrates]

@mcagney @Figure >As a corollary, you know how much stock I own in Figure and how much I have bought or sold because it’s public data, and somehow the world still works.

Yes, but that's because you're a "corporate insider." Privacy is still the rule if you’re *not* an insider or large holder.

[Marcelo Prates @MarceloMPrates]

@tomerweller @zashi_app @NEARProtocol FYI @paulbrigner