alex

@talengea

[Credible @crediblefin]

Our Q3 $CRED ownership coin report is here.

We put the numbers, ownership structure, treasury decisions, market performance and valuation analysis in one place.

Q3 brought $533.2M in payment volume and a 50.8% increase over Q2.

Q3 was a big quarter for Credible, now it’s time to look under the hood🧵

[alex @thedcfguy]

3x P/S for a high growth fintech

Incredible

[Felipe Montealegre @TheiaResearch]

This company:

* Earned $366K of real revenue in August ($2.3M LTM / $4M L3M annualized)
* Growing at >200% CAGR
* Trades at $6M enterprise value
* Credible founder

But some of you don't like to invest in real companies.

[alex @thedcfguy]

@RnaCrypto @ORE Have mined some, mostly staking

[alex @thedcfguy]

great read @ORE

[Madhatt3r ⛏️ @pokerchessman]

https://t.co/UfQ1qg8ZSZ

[alex @thedcfguy]

@defidaddy emfs bro get wired

[alex @thedcfguy]

solana:CREDBHvVqREBCAxMihzr8D1nepHMr2gmQoZWpmgGmeta will be worth >$200MM by 2030

[Credible @crediblefin]

https://t.co/w49qkGl2mZ

[Sky Ecosystem Insights @SkyEcoInsights]

Sky Frontier Foundation has published its Sky Ecosystem Q1 2026 Report.

Sky Protocol delivered its strongest quarter on record in Q1 2026, powered by accelerating USDS adoption, an expanding Sky Agent Network, and a growing collateral base.

Q1 2026 Financial Highlights ↓

[alex @thedcfguy]

@BrianInCrypto @glider__ @RamXBT

[alex @thedcfguy]

@nevralabs thoughts? @RamXBT

[Credible @crediblefin]

Today we're announcing something new in payments.

On July 13th, Credible’s curated raise goes live with @MetaDAOProject, powered by @solana.

After processing $700M+ in volume with a revenue run rate of $3.5M, we're ready to share ownership with you.

You can use Stripe, MoonPay, or Bridge. You can't own them.

You can own Credible.

[alex @thedcfguy]

@RamXBT Unsecured credit

[Lighter @Lighter_xyz]

https://t.co/kXWh2glZuj

[seedplex @seedplex_io]

Venture Tokens on @solana are here.

Seedplex is live 🌱

[alex @thedcfguy]

Imagine ethereum:0x56072c95faa701256059aa122697b133aded9279 NIM expands to 2.5% on $20B+

[Carlos @0xcarlosg]

Under Sky’s year-end projection of $20.6B in USDS supply, the protocol’s balance sheet would scale meaningfully even under conservative NIM assumptions.

Applying a lower-end 0.8% NIM across the total asset base would translate to an annualized NII run rate of approximately $165M, while Sky’s current 1.3% NIM would imply a run rate of roughly $268M

[MetaLeX @MetaLeX_Labs]

https://t.co/FkaHbP6eRG

[alex @thedcfguy]

A truly innovative SOV needs more than just a privacy feature

[Lorenzo Valente @LorenzoARK]

A Small Manifesto Against the Current @Zcash Bandwagon

Zcash is a remarkable piece of cryptography, but cryptography isn't the bottleneck for crypto in 2026. Distribution, liquidity, and developer adoption are. And those are the exact dimensions on which Zcash is structurally disadvantaged.

1. Network effects work against single-purpose privacy chains

Privacy is a network-effect product: the larger the anonymity set, the stronger the privacy guarantee. Zcash currently has ~30% of supply in shielded pools, and most activity moves in and out of the shielded layer rather than staying within it. A shielded pool with ~5M ZEC and a few thousand daily active users provides meaningfully less privacy than the same cryptographic primitives running on an L1 with 10M+ daily addresses.
The math is brutal. If 100 people hide in a room, finding any individual is hard. If 100 million people hide in a room, it's impossible. Privacy coins concentrate users. Privacy features on general-purpose chains recruit them.

2. Liquidity and acceptance are non-negotiable

A privacy coin that gets delisted from major exchanges, as Zcash repeatedly has across Japan, Korea, the UK, and parts of the EU, becomes harder to acquire, harder to exit, and harder to use at scale. Privacy tools built on Ethereum, Solana, or Base inherit the liquidity of the underlying chain. You don't have to choose between privacy and the ability to transact with the rest of the financial system.
Zcash forces that choice. Nobody wants to make it.

3. People don't want private money. They want private applications

Most people don't need to hide a $50 ZEC transfer. They need confidential business payments, private payroll, undisclosed treasury operations, sealed-bid auctions, private voting and confidential DeFi positions that don't leak through transaction graphs.
None of these run on a privacy coin. They run on smart contract platforms with privacy primitives like @aztecnetwork on Ethereum, @AleoHQ as its own L1, @solana 's confidential transfers, @penumbrazone in the Cosmos ecosystem, FHE-based chains like @fhenix and ZK-rollups in general
The future of privacy is programmable, not denominational.

4. The technology has been completely commoditized

zk-SNARKs were Zcash's moat in 2016. By 2026, they're the foundation of every major L2, dozens of privacy systems, and most rollup architectures. The Zcash team did the foundational research, and then watched the IP escape. The chains that benefited most aren't paying rent to Zcash, and they never will.
It's one of the cleanest examples in crypto of pioneering a technology and capturing none of the value.

5. Regulatory exposure cuts the wrong way

Privacy coins occupy a uniquely vulnerable regulatory category. Privacy tools on general-purpose chains can be designed with selective disclosure, view keys for auditors, compliance hooks and they live inside chains regulators have already accepted as legitimate financial infrastructure.
Zcash has built the same compliance tooling (view keys, selective disclosure protocols) but still carries the "privacy coin" label that triggers automatic delisting regardless of actual functionality. The technology isn't the problem. The category is.

6. The unit-of-account problem

For privacy to matter for real economic activity, it has to be denominated in money people actually use, this is the biggest lesson in crypto over the past 5 years. Nobody pays salaries, settles invoices, or runs treasuries in ZEC. They use USD, EUR, USDC, USDT.
Privacy that requires switching unit-of-account is privacy that won't be used at scale. The winning model is private stablecoins and private transfers of mainstream assets, which requires programmability Zcash structurally doesn't have and isn't on a path to building.

7. The "private Bitcoin" comparison is just stupid

At the end of the day, Zcash only really competes with Bitcoin, except it doesn't, because the "private Bitcoin" framing falls apart on contact with reality.
You don't get to slap "private" on as a feature and call yourself Bitcoin's successor when you don't have the liquidity, the decentralized robustness, the regulatory acceptance, the size, or the history. Bitcoin's hashrate is distributed across hundreds of pools and tens of thousands of independent miners globally. Zcash's hashrate is functionally controlled by a handful of pools running ASICs from a few Chinese manufacturers. Zcash inherited Bitcoin's consensus model with a fraction of Bitcoin's decentralization.

And decentralization isn't a sliding scale where "more" earns you partial credit. It's binary. You're either close enough to Bitcoin to inherit the monetary properties that come with extreme decentralization, as Ethereum genuinely is, or you're not, and the "moneyness" argument doesn't apply to you at all.

Ethereum and even Solana have an order of magnitude better chances of reaching Bitcoin's market cap than Zcash does. That's not a controversial claim. It's just looking at the data.

[Hardhat Chad ⛏️ @HardhatChad]

BTC = SoV
ZEC = SoV + Privacy
ORE = SoV + Privacy + Defi

[Avici @avici]

the start of the new Avici.

thousands of you trusted us with your money. soon, millions will. we knew the design didn't match the ambition.

today, we start fixing that. rebuilding from the ground up

update the app now to try it today ↓

[alex @thedcfguy]

i fw the orange @tahherrr

[alex @thedcfguy]

If solana:BANKJmvhT8tiJRsBSS1n2HryMBPvT5Ze4HU95DUAmeta was a traditional fintech it would be valued at $15-20m rn btw (currently 6m)

Extremely undervalued for a token that owns everything and has performance based compensation for the team