ATH TVL for @pendle_fi ($6.8 B) ATH Issuance for @ethena_labs ($7.5 B) ATH Loan Book for @aave ($24 B) Pendle🤝 Ethena 🤝 Aave

Pendle crossing $6b TVL as the platform and engine that powers growth of stablecoins with yield <10% away from all time high TVL Job's not done!

July Metaplex revenue of $1.6mm on the verge of surpassing last month with still 1 week to go 50% of revenue goes towards buying back $MPLX for the DAO Accelerate

Tokens created through Metaplex have accelerated driven by the launchpad wars Each new token drives protocol fees, which are on track to hit $2.1M this month ($25.5M annualized) 50% goes to $MPLX buybacks for the DAO the following month (July fees will fuel August buybacks)

.@Mable_Jiang was instrumental when we were launching @Modular_Capital and has been an incredible sounding board, thought partner, and first principles thinker from over the years Really excited to see her embark on this new journey w @trendsdotfun and pushing the frontiers of social / info value flow 🔥 trend is good

Today we have 3 crypto bills (GENIUS for stablecoin, CLARITY for market structure, and anti-CBDC) passing the house w/ bipartisan support - marking a watershed moment for the crypto industry to thrive in the US of A 2025 has been a big year for the industry. BTC grew to a ~$2.5T asset, now the 5th largest in the world, and gradually evolving into a digital store of value everyday ppl and institutions hold alongside Gold to prevent against inflation, currency debasement, and erosion of purchasing power $IBIT has been Blackrock's fastest growing ETF since launch, now holding ~$90b in assets and on pace to be its # 1 revenue generating ETF, period. Stable coins are making inroads into traditional financial infrastructure - whether w leading fintechs (Stripe, Ramp, PayPal) or traditional banks (JPM, Citi, Wells Fargo), with over $250 B in global issuance already Aave crossed $50b in deposits, which would rank it among top 100 banks globally and top 50 in the US, demonstrating the scale and resiliency of on-chain finance powered by permissionless, autonomous code The crypto industry is having a great run, but more importantly, the US sends the world a message loud and clear: The United States is the place of exceptionalism. We are the place where innovators thrive, where technology permeates, where risks are taken, where dreams come true and progress made. That has been true for the last ~250 years since its founding. That is increasingly true for Crypto. It has/will be true for AI, Healthcare, Space, Defense, Drug Discovery, Software, Semis, Energy, Science - and every industry that pushes and advances the frontier of human progress Around 35 years ago - my parents immigrated here precisely because they believed in America's Vision and as the land of Opportunity I have always been, and will forever be proud to be a part of the greatest country known to mankind ❤️ America has been Great. Together, we all continue to Make America Great Onwards 🔥

All three crypto bills passing the house with significant Democrats support isn't on my bingo card. Most people expect the CLARITY Act to have lower chance of passing vs GENIUS and yet they are all passed at the same week. Truly a historical moment for crypto.

The House just made history by passing major legislation on stablecoins (GENIUS Act) and market structure (CLARITY Act) in an overwhelmingly bipartisan way. This is a huge moment for crypto and for all Americans. We’re very close to having comprehensive, proactive rules in place for the first time. Next up: the GENIUS Act goes to the President’s desk for his signature. After that, the Senate should pass the CLARITY Act. We believe passing these laws is the best way to ensure that America remains the world leader in the next era of the internet. Thank you to all the cosponsors of these bills and the incredible supporters on both sides of the aisle in Congress.

Maple is crossing $3 B TVL, a remarkable milestone over the last yr - 3X TVL growth in the past quarter - 10X+ TVL growth in last 12 months - syrupUSDC approaching ~$1B issuance - $1.1B+ loan book - $20M run rate protocol fees product market fit has never been stronger

As every part of the solana consumer stack fragments, $MPLX role in the ecosystem and pure play exposure to asset issuance continues to strengthen - Trading front end (Axiom, Photon, Trojan, Phantom) - Launchpads (Pump, Bonk, Believe, Jup Studio) - DEX pools (Raydium, Orca, Meteora, Pumpswap) $160M FDV vs ~$25M run rate fees Internet capital markets