China showing that inflation isn’t the only way to soft-default. You can just hike taxes on your lenders. This is a country with an A/A+ credit rating at the moment.

Regardless of your views on Ethena, the enforcement action by German regulators is our first look at how MiCA will be interpreted. My German was never fantastich, and is only what I recall from college, but this (anonymized) case in Frankfurt appears to be about Ethena

I’m about as big of a stablecoin bull as it gets, but comparing transactions with transfers is not good practice and makes us all look silly. Not all transfers are transactions. Imagine counting moving money from your savings to your checking, and saying that beat Visa somehow

This doesn’t make any sense for most issuers. Why would you add an extra layer of fees, technical risk, change the tax profile? They’re also less liquid than stables.

More Synapse/Evolve collateral damage, as crypto/banking service Juno tells users it will shut down “due to a range of external factors”

I’m pretty surprised people thought this deal was so good, they went back to do a second round. At 2% lower interest rate. Late penalty 0.1% instead of 18.5%. Grace period 8 days instead of 2 days. I even see a guy leaving 18% market to enter the 16% market

I find I have to increasingly turn to used bookstores for nonfiction that is unlikely to have had recent breakthroughs or legal changes - mathematics, botany, ancient history/archaeology, lower levels of engineering/physics. AI slop has made modern textbooks/articles unreliable

Circle on Odd Lots fumbling over what their competitive advantage is. They really need to come up with a better answer than buzzwords like flywheel or developer platforms. Also unsure shilling Hashnote while its supply is moving towards 0 with haste demonstrates domain competency

Literally dust in the user accounts. It’s like the aftermath of a yield farming campaign 😬 Silver lining: You’ll never need to file a SAR bc no one has enough money to hit the threshold!

they’re just grabbing some liquidity before it goes higher jerry what does that mean ‘grabbing some liquidity’ the market makers, they sweep the available liquidity you don’t even know what that means ‘liquidity’ no, but they do. and they’re the ones using the liquidity