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[Pantera Capital @PanteraCapital]

Alex Blania's prediction: within three months it will be completely impossible to spot that you are talking to a deepfake, and impossible for any software to catch it.

@alexblania (CEO & Co-Founder of @tfh_technology) joined @Cosmo Jiang on Stateful to talk about proof of human on an internet run by agents:

- Why @worldnetwork is working with Zoom, Reddit, and the big banks
- Video models just hit 60 FPS, which makes real-time deepfakes possible
- More than 50% of Cloudflare's traffic is now agents
- Why advertisers may end up being the biggest accelerant of all
- Whether we already have AGI, and what two gigawatts a week of new compute does next

[Cosmo Jiang @cosmo_jiang]

The stated purpose of my trip to Shenzhen was to meet robotics companies. The unstated one was to get a deeper read on China and the cultural mores behind its successes and shortcomings.

Over drinks, a local entrepreneur whose family owns a small retail chain gave me a pretty good explanation of why it’s so hard to make money in China.

“这里的竞争太大了,” he kept saying. The competition here is brutal. By the end of the conversation, we’d both laugh a little grimly whenever he said it. His point: there’s always someone willing to give up this year’s profits to win market share, figuring they’ll make it back next year. Then next year comes, only to find someone new has the same bright idea.

[World @worldnetwork]

“My prediction is that in the next three months, it will be completely impossible to spot that you’re talking to a deepfake.” - @alexblania, co-founder, World

@world_id helps build trust by preventing deepfakes at the source.

[Digital Asset Summit 2026 @blockworksDAS]

Dan Morehead of Pantera Capital said even if you're megabullish on AI, you should have blockchain exposure.

"Bitcoin has on average almost doubled every year for 13 years."

@dan_pantera of @PanteraCapital

[Pantera Capital @PanteraCapital]

Our team flew to Shenzhen to see China's robotics ecosystem up close.

From humanoid manufacturers and model developers, @cosmo_jiang and @0xhopydoc share their learnings in our latest blog:

• China leads global hardware development

• Data collection is the bottleneck, value accrues to turning raw data into training models

• Executives put their software one to two years behind overseas competitors

Read the full piece:

[Cosmo Jiang @cosmo_jiang]

https://t.co/eVt9XRyHaE

[Cosmo Jiang @cosmo_jiang]

https://t.co/eVt9XRyHaE

[Stuti @stutireal]

Following Black October I’m convinced that Cybersecurity has to become a market that is as big, if not bigger than AI. Every dollar of the AI buildout passes must pass through cybersecurity infrastructure, which has become mission critical, to reach an enterprise.

I @PanteraCapital sat down with the two people best to discuss this: @P3b7_ , CTO of @Ledger whose devices hold half a trillion dollars and have never been compromised, and Michael, Director of Security at @Payward, the company behind @krakenfx where his team defends over $40B and has helped the Secret Service claw back hundreds of millions from attackers.

What we got into:
→ @OpenAI’s 700-paper math drop, and half the field is calling it the slop drop. Not one paper was about cryptography, what does that silence mean?
→ Quantum versus AI, the race to break encryption. Quantum goes after the math itself, on a timeline no one will commit to. AI’s already here, stripping out everything built around the math.
→ @binance. Over $6B gone, and the way in was a fake job interview
→ The Donjon, Ledger’s attack team, found more vulnerabilities with AI this year than in the previous 8 years combined.

What surprised me is that two people closest to the damage are also the most optimistic.

Links in the thread

[Fission @FissionXYZ]

Onchain distribution runs on liquidity.

Fission CRO @BenditOnchain on what capital allocators expect from tokenized private funds.

[Mike Belshe @mikebelshe]

BitGo was founded on the belief that digital assets would become an integral part of the global financial system. That vision is becoming reality.

Today, we reported our Q3 2026 results.

A few highlights:
-Assets on platform grew 32% year over year on a normalized basis
-Assets staked grew 41% year over year on a normalized basis
-Expanded institutional trading capabilities with the acquisition of NYDIG’s trading business
-Continued building out Go Network, goStocks, and our international presence

The next chapter will be defined by the infrastructure that enables institutions to securely custody, trade, and settle on a global scale.

That’s what we’re building at BitGo.

We’re proud of our team and excited for what’s ahead.

$BTGO

[Ondo Finance @Ondo]

Tokenization is changing who gets access.

“If you have a wallet and an internet connection, you’ll be able to access Anthropic on IPO day. That’s accessibility at its core.”

Ondo’s Matthieu de Vergnes explains to CoinDesk how Ondo Stocks is preparing to bring another major IPO onchain.

When other platforms failed to deliver SpaceX allocations, Ondo Stocks delivered on day one.

Each new listing is another step toward markets that are global, open, and onchain.

[Charles Guillemet @P3b7_]

More vulns found using AI since january than in the 8 years before from @DonjonLedger.

Finding vulnerabilities is basically free now. Patching them remains costly, having strong security guarantees remains the challenge.

[Pantera Capital @PanteraCapital]

Youtube: https://t.co/0HUYxAoE9q

Spotify: https://t.co/rbAuzuljJ6

Apple Podcasts: https://t.co/tOAy75hiWG

[Pantera Capital @PanteraCapital]

Ledger's red team has found more vulnerabilities with AI since January than in the previous eight years combined.

@stutireal sat down with Michael Benich, Director of Security at @krakenfx , and with Charles Guillemet (@P3b7_), CTO of @Ledger, on how AI impacts the economics of hacking:

‣ What actually broke at Binance, and why social engineering through a fake job interview beat every technical control

‣ The PHP bug was found by prompting a model to look for a nasty vulnerability and not stop until it did

‣ Why guardrails may be creating the next generation of unethical hackers

‣ Whether AI is coming for cryptography itself, and what moving Bitcoin to new signatures would take

00:00 Nothing was decrypted, but a lot was exploited
04:19 Black October, and what broke at Binance
10:43 Why the economics of attack and defense flipped
18:40 Inside early access to frontier models, and where refusals hurt defenders
29:46 OpenAI's 700 math papers and the hunt for a crack in cryptography
39:19 Post-quantum cryptography, harvest now decrypt later, and Q-day

[danning @sui414]

Photos 📸 from the compute maxxing salon we hosted are out! shoutouts to cohosts @silicondata and @JacobKerr17 as well as all the speakers, debaters and attendees! The room gathered a great mix of investors, neoclouds, compute traders and researchers.

Learnt so much from @0xhopydoc @stevehou's talk on the forward curve, as well as @tarunchitra @hrojantorse @jonah_b demystifying compute financing & debts' problems.

[Nasdaq Exchange @NasdaqExchange]

Bridging digital asset innovation and investor access. $INJC marks a milestone as the first U.S. ETF offering spot exposure to Injective $INJ alongside staking rewards.

Congratulations to @CanaryFunds and @injective. #NasdaqListed

[Fission @FissionXYZ]

Optional liquidity is good for everyone.

Fund managers keep the structure they designed. Investors gain an exit between redemption windows. Allocators can scale with confidence.

@doctorfission in conversation with @BenditOnchain and new Fission board member @FranklinBi.

[Injective 🥷 @injective]

Injective just rang the opening bell at @Nasdaq 🔔

Our CEO @ericinjective joined Canary CEO @StevenMcClurg to open the market and celebrate the launch of $INJC, the $INJ Staked ETF.

What started in a dorm room in 2018 is now at the center of Wall Street.

Much more to come.

[Franklin Bi @FranklinBi]

We're excited to lead @FissionXYZ's Series A because nobody is focused on today's post-tokenization problem.

Top asset managers like @ApolloGlobal, @BlackRock, @KKR_Co, @Hamilton_Lane & @ARKInvest are bringing private markets onchain today - $ACRED, $ARKVX, $SKHC, etc.

The risk is that they get stuck in the "newspaper-on-a-webite" phase. Better medium (digital / onchain), but the same old product.

Moving private markets onchain fundamentally changes the asset class. Take private credit as one example:

Redeeming out of a private credit fund today takes a mountain of paperwork & many weeks to settle. When redemptions spike (as they've done this past year), sellers escape via OTC / one-off deals, while the rest of the market stays oblivious.

Once tokenized, these assets become instantly traded, globally priced, and collateral-eligible. So what happens to the asset class when there's a daily market price for a private credit fund?

We'll find out soon. @FissionXYZ is building the venue for tokenized private funds, already processing live redemptions and transforming the future of private markets.

I'm thrilled to join Fission's board and work with Jon (@doctorfission), Steve and the Fission team to bring this vision to life!

[Cosmo Jiang @cosmo_jiang]

Al's advancement necessitates new safety primitives.

Proving you are human will be a foundational layer of the internet and used across many applications.

@alexblania has been building for that since 2019. Last month, deepfake of his own chief economist still fooled him for 15 minutes.

We talked through why @worldnetwork and @Zoom are prioritizing Proof of Human.

Watch the full conversation on our Stateful podcast:

[World @worldnetwork]

New podcast: @alexblania on the future of the internet and our digital experiences. Host @cosmo_jiang explains why @panteracapital is implementing @world_id for @Zoom.

[Ondo Finance @Ondo]

Ondo Finance is now the world’s #1 largest tokenization platform, with over $4B in TVL.

A milestone spanning tokenized Treasuries, stocks, ETFs, portfolios, and private markets.

Ondo was built around a simple conviction: financial markets should be more accessible, and financial assets should do more.

The rise to #1 follows a year of industry firsts and category leadership (per RWA․xyz):

→ Ondo Stocks: first tokenized stock platform to $1B TVL, reached in under eight months.

→ USDY: world’s largest tokenized Treasury product, with over $2.3B in total value.

→ Ondo Intelligent Portfolios: largest onchain portfolio product by TVL, weeks after launch.

Beyond those milestones, Ondo products have reached 1M+ cumulative holders and are supported by leading wallets, exchanges, and DeFi platforms.

Tokenization is changing the foundations of financial markets, from how assets move to how investors use them. Ondo will continue building for markets that are global, open, and onchain.

First billions. Then trillions.