Bench ®

building infinite economic bandwidth @radiustech_xyz , learning @mitdci . Past: co-built @circle USDC, built Hamilton @ Fed, founded @blockchainassn.

[Bench ® @RkBench]

https://t.co/rpHxMtaJn6

[Bench ® @RkBench]

3.89M tps.

[Bench ® @RkBench]

@mattyven https://t.co/vlqn6DLnpz

[Bench ® @RkBench]

https://t.co/JoHdVjyX4Q

[Bench ® @RkBench]

@agupta Cambridge vs. everybody.

[Bench ® @RkBench]

RT @rynesaxe: Thought Leadership they say.

"Faster settlement" has important consequences for market structure.

Eco delivers orchestrat…

[Bench ® @RkBench]

@serimbexy @novogratz Hard working irishman formerly worked for me, now works for @novogratz

[Eric Rosengren @EricSRosengren]

The WSJ article on hyperliquid is a good overview. The world will be quickly moving to efficient low cost 24-7 trading of real world financial assets not just crypto assets. The liquidity is moving to decentralized exchanges and away from more costly centralized exchanges .

[Bench ® @RkBench]

If this is done right the US merchant and consumer are going to save entire %'s of their annual spend.

[CoinDesk @CoinDesk]

SCOOP: @Stripe, @Visa and @Mastercard are close to launching a joint stablecoin platform.

@IanAllison123 reports.

[0xJMG @0xJMG]

Worst of all worlds:

"disadvantages of centralization and most of the disadvantages of decentralization at the same time."

[Bench ® @RkBench]

@ItsSnibby @jmover Happy to walk you through our numbers. Our team has been in this game for a minute building at scale.

[Bench ® @RkBench]

Lets go @bc1beat !!!

[Base @base]

Enabling permissionless access for AI agents

@bc1beat is building exactly that with @BlockRunAI

Built on Base with x402

[Bench ® @RkBench]

Proxy-voting is one of the largest unsolved problems of the American financial system.

[Reid @reidlikeabook]

You can't make this up.
DTCC's closed-loop proxy system over-votes so often Broadridge literally sells a product called "Overvote/Over-reporting Prevention."
When the math doesn't math, brokers just choose whose vote counts.

[Sean Neville @psneville]

Giving an agent a wallet or account isn't the hard part. Creating a robust, governed way to trust it is. Today Catena announces product access, OCC news, and Series A investment from wonderful partners: https://t.co/O5uh8fQj7k

[a16z crypto @a16zcrypto]

"I think [AI agents] may be the only actors that we trust with our assets and the only actors that are capable of generating meaningful return on our assets."

@psneville, cofounder of @catena_labs, makes the case for an agent-native internet built on stablecoin rails:

"Once we have stablecoins and we have the ability to represent dollars on internet rails, what kind of new opportunities does that unlock? At the same time we were contemplating that, you could see clearly the web, the internet itself, is going agent-native."

"As AI actors become economic participants, they will ultimately be the primary dominant economic participants in the world for all kinds of activities, payments, and otherwise."

"Flash forward in a few years, I think they may be the only actors that we trust with our assets and the only actors that are capable of generating meaningful return on our assets."

[Patrick Collison @patrickc]

Owing to a variety of historical reasons (including, but not only, protectionist lobbying), the U.S. is the only G7 country where regulated payments companies can’t directly access government-run settlement rails. Yesterday's EO from the White House calls for that to change.

This is a very good idea. If regulated payments companies can integrate directly with the Fed, there will be less unnecessary coupling between "fractional reserve banking/leverage/maturity transformation" and "quotidian payments activity", thereby reducing overall systemic risk in the financial system. This would also establish the preconditions for more competition, more innovation, and lower fees.

https://t.co/v2MxjfHdxe

[Catena @catena_labs]

If you're running agents that touch money, or are about to, come build with us. Private Access is open at https://t.co/A7ngXqqWcX

[Bench ® @RkBench]

Sorry to hear. Our @privy_io experience has been exemplary. @segall_max and team have been there step by step on our journey.

[Odo | Odomart🌋 @0domart]

Short message about @privy_io

We have problems with them for 1 month, their support is awful and doesn't understand the root problem.

We have to debug ourselves their own code. They take 1 week to answer and completely out. (And we are paying them 5k/month)

For any app scaling to 1000+ users, with diversity of wallets used, I don't recommend at ALL Privy.

We will shortly migrate off soon

[Bench ® @RkBench]

Always bet on @psneville and @mattyven . Congrats to the best in the game.

[Chris Dixon @cdixon]

https://t.co/3jYX1ODJ1L

[Brendan Malone @brendanpmalone]

1/ Some thoughts on yesterday’s EO instructing the Fed to expand access to Fed accounts and services to nonbank fintech firms. 

Overall, I’m bullish. 

But first: this is not a summary — Claude or ChatGPT can do that for you. Instead, I will try to explain the context behind how Fed staff thinks about these kinds of issues as a recovering central banker.