One of the best to ever do it! As a non-American, that Superbowl XLVIII Seahawks made me fall in-love with football and I am forever grateful. Thank you @DangeRussWilson
Fidelity commends the Senate Banking Committee for advancing the CLARITY Act. The bill provides a balanced approach and, if passed, will offer statutory clarity to digital asset markets, benefiting American investors and helping ensure the U.S. remains a global leader in digital assets.
Etherealize CEO @VivekVentures: Wall Street's understanding of ETH as "productive money" is starting to accelerate
"BlackRock just launched their ETHB ETF for staked ETH, and in the marketing around that, they said ETH is an asset that actually generates yield. You're not just holding a digital asset store of value anymore. You're holding a digital asset store of value that has yield, and that starts to resemble how Wall Street thinks about US Treasuries."
"[Wall Street] wants minimized counterparty risk, perfect collateral, and yield -- ETH packages that all together. Bitcoin was the original idea and is now understood as 'digital gold.' But the final form is what ETH is fulfilling as productive money."
@mikemcg0 adds Stanley Druckenmiller as a datapoint who has called stablecoins (the vast majority of which are on Ethereum) "incredibly useful."
"I assume our whole payments systems will be stablecoins in 10 or 15 years," Druckenmiller told Morgan Stanley.
Mike continues:
"That's the other aspect of what we mean by productive -- it's actually providing utility, and people are benefiting from it. It's not just pure speculation."
Read the full and watch the full @edge_pod interview with @VivekVentures and @mikemcg0 in the links below.
A few further thoughts on improvements to Title III (DeFi Section) of the Senate Finance market structure bill... tl;dr Fix the definition and don't let treasury decide whether financial institutions can interact with DeFi
Even in their worst volume months, @pendle_fi and @AerodromeFi are still printing yield.
$PENDLE on @StakeDAOHQ: 33% APR
$AERO on @AutoPilot_xyz: 23.8% APR
Last time yields looked like this, prices were at the same levels. That was the local bottom.
Then PENDLE did +250%. AERO did +450%.
Both are highly cyclical. This looks like the early phase of a new cycle.
Pendle is a bet on RWA growth and likely tokenomics changes. Buybacks wouldn’t be surprising.
Aerodrome has mainnet ahead and a merger with @VelodromeFi coming.
Same setup. Same prices. Market is asleep again.