Chris Gerazounis

credit trader, lending desk @falconxglobal
previously @genesistrading @wavestone_ @blackrock
studied @cornell
*my views & not financial advice

[Chris Gerazounis @ValueAtChris]

It's true. The ledger medium has ALWAYS evolved in time. First, we bartered with beads, trinkets, & cattle. Then, we discovered precious metals & gold. Next, we moved to paper notes. Afterwards, paper currency transitioned to plastic. Now we are moving on-chain. It is inevitable.

[RWA.xyz @RWA_xyz]

Tokenization is inevitable.

You can’t stop history.

[Joe Ferrara 🔺 @j0eferrara]

Remember how fast things can change.

[Chris Gerazounis @ValueAtChris]

@chamath Primary take on this attached @chamath but equally would be curious, are there success stories (albeit however small) to be studied and celebrated on Mississippi and Hawaii making gains and DC holding its ground, in the midst of states like Vermont plummeting?

[Chris Gerazounis @ValueAtChris]

We seem so far behind the 8-ball of AI growth and usage within the public and political discourse. For a lengthy period, technocrats have called for a “constitutional convention” for AI and yet we still haven’t done it at scale… Few are actually talking smart and sensible roadmapping and regulation. It’s largely become zero sum - talk about AI and you’ll get booed. Don’t talk about AI and you’ll get left behind in the circles that move markets and industries.

Difficult to know where to begin, but why is that used an excuse not to start? AI impact on unemployment. AI impact on autonomous vehicle deployment (both transportation purpose built and retrofitting of existing). AI impact on media and consumption of shows, movies, news and music. AI impact on learning and research. AI impact on healthcare and patient outcomes. We focus a lot on identification of things that might or likely will happen as an endgame. Why don’t we start with first principles that can align people across the political spectrum? Why don’t we focus on the outcomes we’d prefer to live as a result, and there’s a greater likelihood the preferred impact can be achieved.

[Chris Gerazounis @ValueAtChris]

We seem so far behind the 8-ball of AI growth and usage within the public and political discourse. For a lengthy period, technocrats have called for a “constitutional convention” for AI and yet we still haven’t done it at scale… Few are actually talking smart and sensible roadmapping and regulation. It’s largely become zero sum - talk about AI and you’ll get booed. Don’t talk about AI and you’ll get left behind in the circles that move markets and industries.

Difficult to know where to begin, but why is that used an excuse not to start? AI impact on unemployment. AI impact on autonomous vehicle deployment (both transportation purpose built and retrofitting of existing). AI impact on media and consumption of shows, movies, news and music. AI impact on learning and research. AI impact on healthcare and patient outcomes. We focus a lot on identification of things that might or likely will happen as an endgame. Why don’t we start with first principles that can align people across the political spectrum? Why don’t we focus on the outcomes we’d prefer to live as a result, and there’s a greater likelihood the preferred impact can be achieved.

[Chamath Palihapitiya @chamath]

AI doomerism exists, in part, because solutions to our most important problems still remain unsolved while examples of superficial process automation abound.

We’ve lost the script.

If AI wants to be celebrated, it should put solutions to some of society’s greatest problems at the front of the line.

Case in point…why hasn’t anyone focused on an AI for fixing the growing illiteracy of our children?

[Chris Gerazounis @ValueAtChris]

allergies took me out this weekend 🤧@omgcorn is correct

[corn🛸 @omgcorn]

today is peak allergies, down only from here

[Chris Gerazounis @ValueAtChris]

the company we keep

https://t.co/SXVKHZaSeM

[Lido @LidoFinance]

Across derivatives markets, collateral efficiency matters.

In a clip from our recent Lido Poolside call, Griffin Sears from @FalconXGlobal explains how liquid staked assets like Lido's stETH can support derivatives and leveraged strategies while reducing balance sheet drag.

Watch the full discussion here: https://t.co/w61Rd9lkVU

[Chris Gerazounis @ValueAtChris]

@vinylbymars @WHOOP @ladygaga superbowl version ftw in my humble opinion😌

[Mike Selig @ChairmanSelig]

In my first public remarks as @CFTC Chairman, I made clear that the agency would use the tools at its disposal to onshore crypto asset perpetuals. Today, the @CFTC delivered on that commitment.

This morning, the @CFTC took historic action to permit the listing of a true bitcoin perpetual contract by a CFTC-registered exchange, charting a path for one of the most liquid segments of the crypto asset markets to exist within the US regulatory framework.

[Chris Gerazounis @ValueAtChris]

an important milestone for the future of digital assets. US access to perp products levels the playing field and opens up massive opportunities and new markets. excited for the future of the entire industry off the back of this news.

[eric @econoar]

The CFTC has officially broken the dam on US-regulated crypto derivatives, approving Kalshi’s Bitcoin perpetual futures contract (BTCPERP) for listing on a Designated Contract Market (DCM).

This is a massive, structural milestone for the entire crypto ecosystem. For years, the multi-trillion-dollar perpetual swaps market, the lifeblood of crypto liquidity, has been forced offshore, locking out trillions in US institutional capital. Today, the US regulatory framework officially evolved to meet crypto-native market structure where it lives.

By legitimizing the perpetual contract model, the CFTC is providing a clear runway to repatriate global liquidity and usher in an unprecedented wave of compliant, institutional-grade volume.

Here is why this shifts the landscape completely:

1️⃣ Legalizes Crypto's Favorite Primitive: Traditional futures were built for an older era. Perpetuals, with their continuous funding rate mechanisms, are what the market actually wants to trade. The US now has a domestic, regulated framework for them.

2️⃣ The Path to Institutional Onshoring: This isn’t just a victory for Bitcoin; it’s a blueprint. While the CFTC is requiring a case-by-case, prior-approval process under Regulation 40.3 for non-Bitcoin assets to ensure funding rates are manipulation-resistant 24/7, they have explicitly stated their commitment to "promoting responsible innovation" and keeping capital inside the US.

3️⃣ Infrastructure Primed for Growth: The structural barrier between decentralized innovation and US capital is actively dissolving. While the review process for altcoins and other asset classes will be rigorous, the precedent is set. The infrastructure is now being laid for a fully regulated, 24/7 derivatives market on US soil.

The era of US crypto derivatives has officially begun. Bitcoin perps are just the tip of the spear, the floodgates for compliant, high-velocity liquidity are now wide open.

[Chris Gerazounis @ValueAtChris]

@bugduino @Morpho @gauntlet_xyz @monad @FalconXGlobal @M11Credit Cheers @bugduino !🍾

[Chris Gerazounis @ValueAtChris]

@OneCryptoJ @paretocredit @FalconXGlobal @Maven11Capital @gauntlet_xyz @Morpho thank you @OneCryptoJ ! 🚀

[Chris Gerazounis @ValueAtChris]

The growth of TVL within the @FalconXGlobal Structured Credit Facility amidst a challenging macro environment is a true testament to our people, our processes, our systems, and our collaboration with ecosystem partners such as @paretocredit @Maven11Capital @gauntlet_xyz @Morpho

[Token Terminal 📊 @tokenterminal]

🏦⛓️ @paretocredit's FalconX Credit Vault TVL is up ~110% YTD, reaching a new ATH of ~$130M.

@gauntlet_xyz enables CV holders to lever their positions by using CV tokens as collateral to borrow USDC on @Morpho & acquire additional CV exposure within predefined risk parameters.

[Token Terminal 📊 @tokenterminal]

🏦⛓️ BREAKING: 53.1% of all tokenized U.S. Treasuries are on @ethereum.

Leading issuers: @FranklnTempletn @OndoFinance @Securitize @centrifuge @WisdomTreePrime

[Pareto @paretocredit]

According to Bernstein Research, the RWA market crossed $50B, lead by tokenized private credit, with institutional capital increasingly moving into tokenized lending
https://t.co/OuLoNXwL64

[Chris Gerazounis @ValueAtChris]

Big moves in the 10Y Treasury over the past 3mo with a 50bps surge since late Feb. A hot CPI print and oil spikes related to the continued Iran tension are leading to higher yields and tighter conditions across the curve. Despite this higher opportunity cost, onchain lending markets appear somewhat resilient this month, impacted more by the exodus of capital related to recent protocol exploits.

Source: @USTYC_App @CNBC @DefiLlama

[🐧 @Pentosh1]

AI, Robotics, Medicine, Defense (ai drones etc), Energy

What a crazy 10 years ahead of opportunity. The Golden Dragon Bull Run (with many shakeouts and peaks and valleys)

2 years ago people would laugh at AI bc the image generation wasn't great, or robots bc they were slow and clumsy. But really, every time we see a new release you have to realize that it's the worst version we will see of them. Especially with how quick things are progressing. Humans mostly think in linear terms but what is happening is at a logarithmic scale and pace.

One of the largest issues is we can't actually scale all of this. YET. I think the biggest mistake is looking at things on too low of a time frame when you have to think about what all this is going to unlock over the next decade.

[Chris Gerazounis @ValueAtChris]

In it to do extraordinary things.

https://t.co/zG0yHJAGoe

[Chris Gerazounis @ValueAtChris]

@balajis

[Chris Gerazounis @ValueAtChris]

@dgt10011 @BowenBelmer it's true that nothing worth doing was ever easy. that's why the frontier and emerging tech is so important.

[Chris Gerazounis @ValueAtChris]

@andrewrsorkin @Cornell This is awesome @andrewrsorkin ! Love to see @Cornell continuing to pave the way for entrepreneurship and startup culture