Aave Labs’ UK subsidiaries Push Labs Ltd. and Push Virtual Assets Ltd. (together “Push”) have received approval from the UK’s Financial Conduct Authority (FCA) to register as a cryptoasset exchange provider in the UK.
It is with profound sadness that we announce the unexpected passing of Nathan Allman, Ondo's founder. Our hearts are with his family and loved ones.
Nate’s brilliance, humility, and drive shaped every part of what Ondo is today. His belief in the power of technology to create a more open, accessible financial system lives on in everything we build. The impact he had on this industry, and on all of us personally, cannot be overstated.
Nate also helped us build a durable organization with experienced leaders across all facets of the business. Ian De Bode, Ondo Finance’s longtime President, will serve as CEO. Ian has been leading our strategy, product, and day-to-day operations for over two years and has the full confidence of the leadership team.
We will continue building what Nate started. That is the most meaningful way we know to honor him.
Here’s the Scottish Mortgage #SMT statement on its 19.3% £2.98bn ($3.94bn) position in SpaceX. Even at $1.25trn the @bailliegifford flagship has made a 19.7 times return since investing £151m ($200m) in August 2021. https://t.co/Qn46hyzFFu
The Senate Banking Committee released the latest draft of the CLARITY Act last night. The draft has significantly improved since January and reflects years of bipartisan negotiations.
It’s time to get this passed.
This bill safeguards consumers, includes important developer protections, and gives crypto entrepreneurs the regulatory clarity they need to build here in the U.S.
We’re thankful for the hard work of the Senate Banking Committee and their staff.
We urge Senators on both sides to move quickly to advance it out of Committee, to the Senate floor, and ultimately be signed into law by the President.
I loved the article, "AI Isn't Coming for Your Job. It's Coming for Your Mind" by Tom Slater at Baillie Gifford. h/t Ian McKinnon, chairman of the board of trustees @sfiscience. Points about mastery and cognitive diversity are particularly relevant. Worth discussing in professional and educational contexts. https://t.co/TciOixa3F3
London is Europe's most dominant tech hub and it's not even close.
And the gap is widening as London becomes an AI hub
Great chart from @yoramdw and the @dealroomco team cc @sabben
A delight to sit down with @therollupco to talk through how we are thinking about the institutional side of Crypto at @BaillieGifford.
Key points I have been conveying at conferences:
1/ Tokenisation = unitisation on steroids. This is about taking finance into a world of programmable unitisation.
Baillie Gifford’s approach is long-term, as ever! It’s not just slicing up funds into smaller pieces. It’s the same high-quality fund structure you already trust, but now fully programmable, composable, and 24/7.
Same rights. Same standards. Better outcomes for clients through programmability (automation), cost savings (onchain books and records, self-custody, less intermediaries) and composability (more flexibility to make portfolios without having to use the unsatisfactory fixes we have today).
2/ Tokenised funds are the gateway for TradFi.
Once you build the stack (digital custodians, transfer agents, compliance rails), you’re suddenly positioned to go fully onchain for everything else.
It’s the low-friction on-ramp that lets institutions test, learn, and then scale into native tokenised securities.
3/ This unlocks a merging TAMs phenomenon at scale.
Traditional verticals (banks, asset managers, exchanges, custody, wallets, distributors, market makers etc) are suddenly merging into the same market. The onchain rails (particularly combined with the power of AI) means that the hurdle rate to enter other markets has demonstrably dropped. That means that for everyone this is simultaneously an offence and defence matter. That’s what is driving the institutional onchain evolution. But it also means that there is a real reason to collaborate to get the best solutions for end clients. The existing hierarchy and stack is melting.
Bottom line is that institutions aren’t dabbling for hype.
We’re building the future of finance together.
On my panel with Christine from Apollo yesterday, I heard a very similar take as Theo here from Baillie Gifford:
These large scale, 11-figure asset managers are accelerating their "own disruption" if you will, by taking the leap themselves to create tokenized funds & engage in onchain value creation.
Whether its onchain lending & credit creation, tokenized equities and money markets, or just using onchain rails for stablecoin yields — they are jumping in aggressively.
Its really an on the nose of saying that there's a massive shift happening, those who adapt quickly and stay agile will be ahead, those who don't will be ultimately left behind.
Some private companies now rival the biggest names in the FTSE 100. They have reached that scale by focusing on long-term opportunity, not listing timelines. Our view on IPO talk: https://t.co/zNTukSo3eh Capital at risk.