1/ Yesterday’s bipartisan vote on the Clarity Act was a historic step forward. But digesting 309 pages of technical legislation – how’s that going to work!?
To help everyone dig in, we developed in interactive map of Title 1: https://t.co/GrSHsUqtRf. Come play!
Securitize is now officially a public company, listed on the @NYSE under the ticker SECZ.
Our focus is unchanged: building the regulated infrastructure for the next generation of capital markets.
To everyone who helped us get here, thank you.
Tokenize the World.
We've completed our business combination with Cantor Equity Partners II.
Tomorrow, July 2, Securitize will begin trading on the @NYSE under the ticker SECZ.
A defining moment for us, and for the future of tokenization.
The Clarity Act has 16+ illicit finance safeguards, not loopholes:
✅ Sec 201: BSA/AML applies to crypto
✅ Sec 303: new sanctions to hit Iran
✅ Sec 305: exchanges can freeze dirty money
If you don’t like crypto, then say it, but stop these baseless attacks.
If you're responsible for security or compliance, we'd love for you to join us. We're building a coalition of experts who care about building secure onchain software and blockchain ecosystems.
https://t.co/0wLTeSfAnN
Legacy market infrastructure regularly fails in mostly-invisible ways.
Yesterday's trades are T+2, instead of the typical T+1, because there were **more errors than usual** 🤯
Frankly, we should be raising our expectations, and building error-free/resistant systems...
Another example of how clear rules of the road can unlock massive value. What GENIUS did for stablecoins, the Clarity Act will do for all other digital assets.
I’ve been getting a couple of questions about the July 17 date.
The @FinancialCmte has scheduled a field hearing on the 17th to examine “how the Clarity Act unlocks innovation.”
It’s a House hearing, not a vote on the bill.
1/ kicking off a new Crucible series on "The World as Model" where we delve into the biggest opportunity in industrial hardware, models, and data
the prize: to build what HFTs built for financial markets, but for the physical world
a quick overview
🚨🗞️NEW: The Next Two Weeks Could Decide the Fate of the Clarity Act
With the Senate out until July 13, staff, the White House and industry stakeholders are racing to resolve the issues standing between the Clarity Act and a Senate floor vote.
https://t.co/LAhB5sXzhM
Amazing story, @carlosdomingo! It’s been such an incredible journey, and we’re so proud to be along with you for it since the earliest days. This is incredibly well-earned and well-deserved success. 👏👏👏
When I was thinking about doing a SPAC to go public, I was told: "Don't do it, you won't raise a PIPE, and SPACs get on average 95% redemptions, and you will IPO with no cash". We raised an oversubscribed $225M PIPE, the largest of any operating business for a SPAC since 2021, and yesterday we had less than 30% redemptions, so we are going public with over $400M on July 2nd at the NYSE. The next stage in Securitize history starts that day.
Do you want there to finally be a regulatory framework for crypto in the US? Do you want to see protocols and startups and capital formation flourish?
If so, call (or email, or fax) both of your senators tomorrow and ask them to pass CLARITY. We are so close.
Strong agree here, @intangiblecoins. This is a lesson that should’ve been learned a long time ago. It is ineffective to try and tell people not to build technologies. The much more sensible regulatory approach is to create socially agreed boundaries for the use of the technologies.
🚨NEW: There is a renewed sense of urgency among GOP lawmakers to get the Clarity Act passed, I’m told.
It’s being driven by heightened political pressure following the fallout from the Housing bill, as well as the realization that time is running short.
When senators return from recess on July 13, they’ll have just 20 working days (roughly four weeks) to get the legislation through the Senate and back to the House before the August recess.
They depart Washington today with a handful of key issues still unresolved, including ethics.
But that's not fazing some industry leaders like @a16z's @milesjennings, who says the pressure and time constraints could ultimately create the conditions needed to strike a deal.
@SolanaInstitute President @KristinSmith lays out why she believes there's still a path forward to getting the Clarity Act passed next month. ⬇️