In 2015, @ccatalini helped me buy my first bitcoin. In many ways, it led to the founding of @ZeroHashX. So, we jumped at the opportunity (~10yrs later) to team up with him & @davidmarcus to help @lightspark build the future of payments. Crazy how things can come full circle.

1/x In a day of announcements for the @circle mafia - @radiustech_xyz is excited to announce one more. We're excited to announce our Seed Round led by @lightspeedvp 🧵

1/ As a crypto lawyer, I’ve craved a regulatory environment that welcomes disclosure & transparency -- core tenets of consumer protection & the crypto ethos. Today the @jito_sol Fnd published a report taking these tenets head on in re JitoSOL, an LST. jito-labs.ghost.io/content/f…

6/6 No tweet thread can possibly do these topics justice! Read the article and provide your feedback there.

5/6 Myth 3. Stablecoin issuer resolution requires the appointment of a dedicated receiver like the FDIC; the bankruptcy process is unworkable. Stablecoin resolution is different from bank resolution, with different priorities and mechanics. Bankruptcy may, in fact, be better.

4/6 Myth 2. Stablecoins will displace bank deposits and thus the money creation function of banks. This myth boils down to a fear that stablecoins will eat the world of money. This idea is unsupported by the economics of stablecoin issuance and for stablecoin holders.

3/6 Myth 1: Stablecoins are like deposits, and their issuance is inherently riskier than bank deposit taking. This myth is based on the idea that stablecoins are volatile deposit-like instruments. They are neither, when properly regulated.

2/6 The time is now to get bipartisan payment stablecoin legislation right. The full article linked here; mythological highlights in the thread. openbanker.beehiiv.com/p/sta…

Myths about money are powerful and entertaining. They are a terrible basis for policy or law. In the latest Open Banker, Alex Steinberg Barrage and I bust three common myths about stablecoins. 🧵

Fun to see the redux and revisit! The article was early days — interesting to see where we had it right, and not.

1/ Decentralization theater is crypto’s oldest magic trick: networks with puppet masters backstage imitate the look of true peer-to-peer systems, all to rake in cash. It’s been a grift for over a decade, and the audience still claps.

#ETHDenver2025 tweet 🧵 - one year in for @radiustech_xyz . Skating where the puck is going 1/x

This. All of this. Every word. @CampbellJAustin 🔥✅🏆 We must do better. Face the no good, very bad story and work to fix it. Caring about good government and institutions means taking a hard and clear-eyed look, particularly when it is not politically convenient.

1/ In today’s intensifying US 🇺🇸—China 🇨🇳 AI rivalry, there’s a surprising historical precedent that can help us see what might happen next: the downfall of British tech leadership in the 1950s. Sometimes, the one who dazzles first isn’t the one who ultimately dominates...

I am done with the energy in this industry that is all about the rug pull. Fuck. That. Noise. I got into crypto because I saw Wall Street ripping off retail and I’m honestly disgusted with the amount of that crypto has replicated and exacerbated this. I don’t want to go there, but most of us still building (especially unsexy infra) have made enough in this space to be comfortable for life. The only reason crypto has made any progress over the last 3 cycles is because of those who stayed building with long term vision. It’s the people who stick with it when the tide goes out and there’s no hype and no money to be made — and then who push even harder when the wind is at their back, ignoring the “easy money” grab right in front of them because they know there’s a bigger picture. It’s Vitalik, it’s Cobie, it’s Toly, it’s Hayden. The reason crypto hasn’t come further in 15 years is the fucked incentives that so many other builders fall prey to. Ship a token, make a few 10’s of millions, get out. You all know who falls into this category. If you think that the PROBLEM with a project is that they didn’t ship a token and dump on retail at the top of the market then YOU are the PROBLEM.

Some of the challenge here is that crypto has mostly, so far, been used as a trading asset or for other non-payments purposes. Some of us, though, have been building modern payments using crypto and crypto rails. As @propelforward says, in that context payments focused consumer protection is needed and important. But a blunt application of Reg E to crypto wouldn’t accomplish what is intended. And would be confusing and bad for consumers, regulators, and the industry. It’s a good and important conversation.

So proud of this. @lightspark showcasing fast, low-cost payments and the innovative power of open networks. With real-world utility -- today. Give it a try!

At this very same conference, Sarah Hammer @Wharton, @iampaulgrewal, and I spoke about the real-time, real-world payment services that @lightspark has live today. Skepticism is healthy. Updating priors, also healthy. See, e.g., piped.video/watch?v=AjE-oAJk…