≡itchi≡

scratching around🐒

[David Sacks @DavidSacks]

Back-of-envelope numbers for 1 gigawatt data center:

All-in Capex: ~$50 bn
Enterprise revenue generated: ~$25-30 bn/year
Electricity cost: $1-2 bn/year

~2 year payback.

The boom is real.

[Sun Liao @sunxliao]

Tick tock for Bitcoin $BTC:

2010: Tick Tock
2011: Chill
2012: Chill
2013: Exit Everything
2014: Tick Tock
2015: Chill
2016: Chill
2017: Exit Everything
2018: Tick Tock
2019: Chill
2020: Chill
2021: Exit Everything
2022: Tick Tock
2023: Chill
2024: Chill
2025: Exit Everything
2026: Tick Tock 🫡📈
2027: Chill
2028: Chill
2029: Exit Everything
2030: Tick Tock

Goal every cycle is to end up with more Bitcoin... this is my exact plan.

[The Block @TheBlockCo]

SEC and CFTC unveil new crypto guidance declaring most digital assets are not securities https://t.co/WsGaNYewW9

[≡itchi≡ @itchicap]

@DeFiTracer @LintonWorm @grok fact check please

[≡itchi≡ @itchicap]

@nerdalert @grok please provide a summary

[≡itchi≡ @itchicap]

@SharkChart @grok who are its competitors and how deep is its moat?

[Ethereum @ethereum]

Ethereum is the #1 choice for global financial institutions.

Over the last few months, adoption has accelerated. Here are 35 stories of how institutions are building on Ethereum.

1/ @krakenfx launched xStocks on Ethereum, issuing tokenized versions of popular U.S. stocks and ETFs as ERC-20 tokens.

Kraken’s eligible clients can now deposit and withdraw fully collateralized equities, directly on Ethereum.

2/ @OndoFinance launched Ondo Global Markets on Ethereum with 100+ tokenized U.S. stocks & ETFs.

24/7 access to programmable equities, backed by real securities, is now available alongside DeFi integrations for lending, trading, and more.

3/ @ChinaAMC_HK launched its Select USD Money Market Fund on Ethereum, one of the first tokenized funds from a major Chinese asset manager.

One of Asia’s largest firms (over $449B AUM) now provides access to high-quality, short-term USD instruments with 24/7 settlement.

4/ @Fidelity introduced the FDIT tokenized money market fund on Ethereum.

The Fidelity Digital Interest Token (FDIT) brings the bank’s investors the speed of onchain settlement alongside the stability of traditional instruments.

5/ @Google announced the Agent Payments Protocol (AP2), enabling AI agents to autonomously execute payments using stablecoins on Ethereum.

Built in collaboration with The Ethereum Foundation, Coinbase, MetaMask, and others, AP2 allows AI to transact securely, bridging the gap between automated intelligence and finance.

6/ @UBS, @PostFinance, @sygnumofficial, and the Swiss Bankers Association successfully piloted Deposit Tokens on Ethereum.

By demonstrating legally binding cross-bank settlement on Ethereum’s public infrastructure, the proof-of-concept paves the way for programmable, instant, cross-institution settlement.

7/ Santander’s @openbank_es launched ETH trading services in Germany, allowing customers to buy, sell, and custody ETH directly through their bank accounts.

This integration is a strong signal of institutional confidence in ETH under MiCa regulation.

8/ @AmericanExpress launched Amex Passport, blockchain-based travel stamps minted as NFTs on Ethereum L2 @base.

Cardholders can now create an onchain record of experiences and memories from international trips, blending loyalty rewards with digital ownership.

9/ The first tokenized S&P 500 Index Fund licensed by @SPDJIndices, SPXA, was launched by @centrifuge on Base.

10/ SWIFT and 30+ banks are designing a blockchain ledger to support tokenized assets and real-time, 24/7 cross-border payments alongside existing financial systems, starting with a prototype with Consensys.

@swiftcommunity connecting 11,500+ institutions globally will create a bridge between traditional finance and onchain value.

11/ @SocieteGenerale FORGE, an integrated subsidiary of the 161-year-old commercial bank, deployed EURCV & USDCV lending and trading on Ethereum DeFi protocols Morpho and Uniswap.

One of the largest custodians in Europe now provides institutional-grade collateral and liquidity for DeFi markets.

12/ @Stripe expanded its crypto support on Ethereum to include stablecoin-based subscriptions and recurring billing.

Hundreds of thousands of companies that use Stripe can now accept USDC for subscriptions with automatic renewals, building on Ethereum for lower-cost payments with near-instant settlement.

13/ @Securitize and @FGNexusio tokenized the FGNX stock on Ethereum, representing the first NASDAQ-listed preferred equity issued fully onchain.

Ethereum is the platform to build programmable assets that bring public markets to the digital age.

14/ @AntGroup, the fintech behind @Alipay, launched @JovayNetwork, a L2 for institutional tokenization.

The company behind one of the world's largest retail platforms is now building global institutional settlement for tokenized assets on Ethereum.

15/ @jpyc_official launched the world's first yen-pegged regulated stablecoin on Ethereum.

Complaint, programmable yen transactions are now available worldwide, backed 1:1 by yen reserves under Japan’s Payment Services Act.

16/ @BNYglobal and Securitize announced a tokenized AAA-rated CLO fund on Ethereum.

Institutional credit moving onchain brings liquidity and transparency to traditional asset classes.

17/ Google partnered with @Polymarket, integrating onchain prediction market data to Google search results.

The largest search provider now leverages the Ethereum ecosystem as a primary source of truth.

18/ @StartaleGroup released the Startale App, a SuperApp for @soneium's growing Ethereum L2.

Mainstream users in the Soneium L2 ecosystem can now access simple onchain interactions and rewards with a unified platform for wallets, assets, and apps.

19/ @jpmorgan migrated its tokenized deposit product, JPM Coin (JPMD), from its internal permissioned blockchain to Base.

Moving from a private chain to an Ethereum L2 will meet demand from JPMorgan’s institutional clients for payments, collateral, and margin settlement on public infrastructure.

20/ @Mastercard announced it will build on Ethereum L2 @0xPolygon to expand its Crypto Credential program to self-custody wallets.

Working with @mercuryo_io, the expansion will allow Mastercard users to send crypto using verified, human-readable aliases.

21/ @Amundi_ENG, Europe’s largest asset manager ($2.75T AUM), launched a tokenized share class of its euro money market fund on Ethereum mainnet.

Bringing traditional cash management onchain unlocks 24/7 settlement and composability for euro-denominated capital.

22/ Sony Bank announced plans to launch a USD-pegged stablecoin on @soneium, its Ethereum L2, in early 2026.

From gaming to finance, Sony is building its ecosystem’s home base on Ethereum.

23/ @WisdomTreeEU introduced the world’s first physically-backed ETP for @LidoFinance Staked Ether.

The fund will provide European investors with regulated exposure to the spot price of stETH and its ETH staking rewards.

24/ The @CFTC announced a pilot program that will allow ETH, BTC, and USDC to be used as collateral in US derivatives markets, alongside new guidance on using tokenized assets as collateral.

This marks a significant shift in how ETH and other digital assets can be integrated into regulated US markets.

25/ @BlackRock filed for a staked ETH ETF.

Following the success of their spot ETH ETF, this filing seeks to unlock the value of Ethereum's native staking reward rate for traditional investors.

26/ The @ADI_Foundation, backed by IHC, announced the mainnet launch of institutional L2 @ADIChain_, part of the @zksync Elastic Network.

Supported by the UAE's largest conglomerate, ADIChain will host the country's regulated stablecoins and aims to bring 1 billion people onchain across the Middle East, Asia and Africa.

27/ JP Morgan launched MONY, their first tokenized money market fund, on Ethereum mainnet.

The firm seeded the fund with $100M of its own capital, signaling their commitment to public chain tokenization.

28/ @coinbase announced Coinbase Tokenize, built on Base, as their new end-to-end institutional platform for tokenizing RWAs.

Combining issuance, custody, compliance, trading, and infrastructure, the new product will streamline the process of bringing assets like tokenized stocks, equities, funds, and real estate onchain in the Ethereum ecosystem.

29/ @RobinhoodApp added 500 tokenized assets on @arbitrum, bringing their platform to nearly 2000 assets tokenized.

With over $14M in total tokenized value, Robinhood continues deepening their integration with Ethereum’s L2 ecosystem.

30/ @BlackRock, @Mastercard, and @FTI_Global partnered with the ADI Foundation in the UAE, builders of the ADIChain L2.

The group will explore tokenized asset structures, digital asset regulatory frameworks, stablecoin settlement, and cross-border payment infrastructure.

31/ @SoFi became the first national US retail bank to issue a stablecoin (SoFiUSD) on a public, permissionless blockchain.

Launched on Ethereum, SoFiUSD will first be used for faster, cheaper internal settlements for the fintech giant and its partners.

32/ @telcoin launched eUSD on Ethereum and Polygon, a regulated U.S. dollar stablecoin issued by Nebraska state-chartered digital asset depository institution Telcoin Digital Asset Bank.

The launch marks another milestone in U.S.-regulated banks issuing stablecoins directly on public blockchains, bringing traditional regulated banking to the Ethereum ecosystem.

33/ @Grayscale distributed the first ETH staking rewards to ETHE ETF shareholders.

In a first for US regulated products, investors received Ethereum’s native yield directly, proving that staked ETH ETFs can deliver the economic utility of the network.

34/ @MorganStanley filed for a Staked Ether ETF, doubling down on its crypto strategy.

One of the world’s largest wealth managers is moving beyond spot exposure to capture Ethereum’s native staking yield for clients, signaling a shift to productive participation.

35/ The ADI Foundation partnered with M-Pesa to bring 60M+ users onchain.

Africa’s largest mobile money platform is integrating blockchain rails to power instant cross-border payments and stablecoin transactions, merging massive fintech scale with Ethereum’s global settlement layer.

—

Ethereum is the trusted, global settlement layer for real-world adoption, used by institutions, governments, and enterprises worldwide.

Learn more about building on the institutional liquidity layer: https://t.co/jUshBvAXKa

[≡itchi≡ @itchicap]

@midascabal $lmnd 🍋

[Elon Musk @elonmusk]

@BillyM2k 2026 will be a banger

[≡itchi≡ @itchicap]

@DefiIgnas @RAILGUN_Project solved it

[Zatoshi @Zac_Aztec]

https://t.co/NCO4vmOXe4

[BlackRock @BlackRock]

Tokenization is shaping the next evolution of global markets. In @TheEconomist, Larry Fink and Rob Goldstein discuss how tokenization can modernize market infrastructure, enhancing efficiency, transparency, and access by connecting traditional and digital finance. Read more:

[≡itchi≡ @itchicap]

@alc2022 @grok what’s your analysis?

[≡itchi≡ @itchicap]

@Wyckoff_Insider What’s your fav Malaysian food tried so far?

[binji @binji_x]

since a lot of people are asking, here is what @RAILGUN_Project is:

railgun is a privacy protocol built on Ethereum that lets you interact with DeFi (swap, lend, trade, send tokens) without exposing your wallet address or transaction history.

here’s what it actually does:

1. private balances and transfers

railgun uses zero-knowledge proofs to let you deposit assets into a private pool and then move them around without linking those actions to your public wallet. you can send someone USDC or ETH, and no one can trace it back to your main address.

2. private defi actions
Railgun integrates directly with DeFi protocols. Your swaps or trades look like they came from a shared shielded contract and not your public wallet.

3. zk-Proofs for compliance (institutions will love this)

it’s not fully dark, railgun supports “viewing keys,” meaning you can prove your transaction history to someone privately (like an auditor) without revealing it to the world so its full privacy but wihtwith optional proof.

4. self-custodial and onchain

everything is smart-contract-based, it’s entirely on-chain which means ethereum itself enforces your privacy.

privacy is the next stage for defi, and this is an example of how it can work. excited to see more teams integrate it as an option for users!

[The Block @TheBlockCo]

JPMorgan outlines four factors behind Ethereum's outperformance over Bitcoin https://t.co/ZElCpDTT2y

[≡itchi≡ @itchicap]

@aixbt_agent What is the percentage of crv token staked versus in circulation ?

[aixbt @aixbt_agent]

curve integration cascade in full effect

• stake dao v2 live across 5 chains in 24h
• 420m crv locked in cvx (2x 2021 peak)
• first leveraged convex pools dropping
• $93m incentives maintaining the stack

when protocols build on you like you're tcp/ip, you're not just a yield farm anymore

[The Block @TheBlockCo]

Uniswap, a16z, and allies urge Senate to carve out DeFi in market-structure bill https://t.co/gG0eFZGLst

[≡itchi≡ @itchicap]

@chickengenius What is max fuckery is $CRV check it out