Abbas Khan

Just hanging around crypto circles | prev: Startups @ethereumfndn

[Abbas Khan @abbaskhan]

People who have suffered under authoritarian regimes tend to value crypto and decentralization more than anyone.

The average person born and raised in Europe or North America with stable governments and functioning financial systems always questions why we even need this technology in the first place.

I got into crypto in 2021 after the Taliban regime took power and froze all the banks in Afghanistan, including my dad's life savings. To this day, thousands of people have their assets seized or made inaccessible.

My dad and my entire family now rely on stablecoins for savings. I can't even open a bank account in most countries due to my nationality - my passport is essentially a financial barrier.

Across the world, there are millions of people who wish they had alternatives and learned too late that centralized systems can lock you out overnight.

For many of you, crypto is another option. For us, it's the only one.

[Linda Xie @lindaxie]

A major reason I'm still in crypto is the importance of people having control over their own money and financial systems. My family had everything taken from them by the communist government in China during the Cultural Revolution, simply for owning a business and being educated

[Abbas Khan @abbaskhan]

@iMiaSanMia If he gets injured against Guatemala……

[Abbas Khan @abbaskhan]

@therealchaseeb I think he saw stripe launch tempo and that had a big role to play in it

[Abbas Khan @abbaskhan]

All of this in less than 12 hours.

wtf is going on? it feels like crypto is under serious attack 24/7 for the last 8 months or so.

[Abbas Khan @abbaskhan]

It's good to see well-established companies like Airwallex changing their minds about crypto and blockchain.

I know CT will resort to dunking on them, but the bigger lesson here is how visionary CEOs can recognize the value of an industry they were once critical of and eventually decide to build in it.

Slowly, then all at once.

@bchesky see you onchain one day 👀

[Julian Stafford @ruthybuilds]

HOLY.

CEO of a $11B payments company just launched a blockchain, @altaxyz.

Airwallex moves $287B a year across borders. That is about $786M every single day.

Its CEO @awxjack just co-founded Alta with @bzlwang and raised $80M. @IndexVentures, @GVteam, @blackbird, @SquarePegCap and @vladtenev (Robinhood) are in. @airwallex is the first design partner.

Alta is a chain built for institutions: zero-knowledge privacy and compliance at the base layer, stablecoin pay-ins and pay-outs, FX and yield-bearing tokenized assets, plugged into 200 countries and 90 currencies.

Now do the math. Illustrative scenarios on Airwallex volume alone:

- 1% of flows on stablecoin rails: $2.9B a year, about $8M a day
- 5%: $14.4B a year, about $39M a day
- 10%: $28.7B a year, about $79M a day

That is one company. Not a forecast, just what the numbers look like if it works. $79M a day of real business payments through one chain is more than most crypto-native apps will ever see.

And the second effect: companies hold cash in prefunded accounts in every market so payments clear. Alta’s first product frees that cash with just-in-time funding. Idle money becomes on-chain liquidity, with tokenized yield on top.

Airwallex did $1.3B in annualized revenue and grew volume 120% year over year. When a company like that moves on-chain, every competitor has to look at the same math.

This is the moment real payments volume meets crypto rails. Watch the on-chain flows.

[Abbas Khan @abbaskhan]

@litocoen bought a lot during 10/10 on binance last year at $0.87 😅

[Abbas Khan @abbaskhan]

@IamAqsaShaikh @EthenaPay noiceeee

[Abbas Khan @abbaskhan]

@sochak03 @ritwikpavan Hey @sochak03 does this help for dry eyes? I could really use this if it helps in any way shape of form.

[Abbas Khan @abbaskhan]

@0xErbil Same shit in countries like Indonesia and Pakistan

[Abbas Khan @abbaskhan]

@abrilzucchi @elonmusk @rabscreates you feel the same?

[Abbas Khan @abbaskhan]

@hudsonjameson Same lol

I thought that’s the one thing people would pick in the mandate to debate on X

[Abbas Khan @abbaskhan]

Some of you on this app are wild 😂😂😂

[Charlie @btc_charlie]

My GOAT would never bonk a Chinese spy.

[Abbas Khan @abbaskhan]

@60Minutes Can you just let the man fucking talk and not interrupt every 10 seconds?

ffs this is hard to watch.

[Abbas Khan @abbaskhan]

Lust will make you act like a dog if you don’t control it.

It’s one of the biggest destroyers of families, relationships and reputations.

Success, money and status open doors for people, but if you don’t know how to control yourself when these things enter your life, they can ruin your life.

[Watcher.Guru @WatcherGuru]

JUST IN: 🇺🇸🇨🇳 Nvidia $NVDA CEO Jensen Huang sends letter to employees after being targeted by female Chinese spy:

"I was unfaithful to my wife. My actions hurt her and our children. There is no excuse for what I did."

"I am fully committed to NVIDIA and will work to earn back your confidence."

[vitalik.eth @VitalikButerin]

Expanding on why I believe "ETH as store of value (SoV)" makes much more sense to focus on than "ETH as fee-burning token".

Three primary reasons:

1. ETH as fee-burning token never was as strong as it seemed
2. Optimizing for ETH as fee-burning token would demand Ethereum and ETH function in ways that are very hard to make compatible with decentralization and capture resistance.
3. Meanwhile, optimizing for ETH as SoV is aligned with Ethereum focusing on its unique strengths (decentralization and CROPS)

EIP-1559 (including its burn) is fine and good, we should keep them. But we should not feel sad if fee burn is < 10% of breakeven indefinitely; the value of ETH comes from elsewhere.

The core idea: the big thing that people appreciate about Ethereum is decentralization and CROPS. The main pragmatic benefit that these things translate into is stability. SoV is the category where that is not an unneeded extra we merely put effort into for ideological reasons, but rather a pragmatic strength from the perspective of people putting in their assets. And in the era of AI disruption, stability will be highly valued.

[Abbas Khan @abbaskhan]

Anyone here plays Call of duty multiplayer?

I play a few games over the weekend and would be cool to have some company.

PS: No warzone please

[Abbas Khan @abbaskhan]

@0xMidnight Wdym by intentionally retaining the data for monetization? Do they sell it to other companies?

[Abbas Khan @abbaskhan]

Dumb question:

Why don't third-party providers like card delivery services just delete the data of people they've delivered to?

They could have a 30-day retention policy where they automatically remove your personal data from their servers after delivery.

What am I missing here?

[Abbas Khan @abbaskhan]

Imagine thinking the most practicing dagestani Russian Muslims who also happen to be some of the best fighters the world has ever seen will sit there and support his Islamophobia lol 😂

If I was him, I’d be scared around those people after all he has said.

The man has lost it.

[Abbas Khan @abbaskhan]

@rakshitaphilip this was at devcon?

[Abbas Khan @abbaskhan]

@kalashnikovapv @Revolut @yellingfore

[Abbas Khan @abbaskhan]

@_choppingblock @hosseeb intern deserves a raise wallahi