We @fund_defi have united the largest and most broad coalition in American crypto history behind one clear message: protect the software developers building our self-custodial, p2p financial future. Software development is the backbone of American technological leadership. The innovators writing open-source code today are laying the foundation for the next era of global financial infrastructure. If we want to preserve America’s edge, we must ensure they remain free to build. Let’s protect innovation. Let’s protect developers. Let’s keep America leading.

"Hey, can you guys interpret the words to mean something completely different?" - Interest should pick up third party distributions costs - "No issuer shall pay" should pick up payments by people other than issuers -"Solely" should be "not solely" I think I hit BINGO on my violations of the principles of statutory construction card

Some pretty bad-faith and narrow-minded characterizations in here. ~”DeFi = bad, so stablecoins = bad” The Bank Policy Institute seems to have taken the “if you can’t beat them, destroy them” approach. The great inventions of the world very frequently started with different purposes: - velcro was designed for astronaut suits in the 60s - the zipper was invented in the 1910s as an industrial closure - bubble wrap was originally a wallpaper - ETFs were designed originally for institutional portfolio hedging. They became the most popular global product for passive money management. Stablecoins started out as tools to store stable value in onchain trading. Today — supercharged by the GENIUS Act — they are room temperature superconductors for global money movement. Reading this, it seems like many of former SEC Chair Gensler’s colleagues and confidants have taken up residency at BPI (or are involved in its policymaking) — where they’re continuing old petty grudges and antiquated political agendas against crypto. Perhaps they should talk to their member banks — many of whom are working with stablecoins or looking at issuing their own. They’d tell a different story. And perhaps trade groups downtown should consider whether platforming radioactive political operatives is a good strategy for the long term viability and influence of their organizations.

1/ Seventeen years ago, a nine-page whitepaper reimagined money. Bitcoin’s design wasn’t just about creating digital cash — it was about rethinking how value could move: peer-to-peer, borderless, and trustless. 🧵

SPI’s @Millercwl and @thecolinmclaren joined with builders from across the @solana ecosystem to ring the closing bell at the @NYSE 🔔

DeFi is a multi-trillion dollar opportunity.

Governments force banks to report your activity, judge whether you are being suspicious, and close your accounts when you step out of the norm. How? It dates back to 1970. 🧵 coindesk.com/opinion/2025/10…

Jito's @RebeccaRettig1 giving a recap on CNBC of her trip to DC earlier this week to fight for DeFi

"At the heart of America's innovation story lies a simple truth: protecting individual rights and freedoms fuels progress....When it comes to building the digital financial systems of tomorrow, safeguarding the rights of software developers and users is not just smart policy, it’s a reflection of what it means to be American." Check out a new piece from DEF's @itstaliad at the link below 👇

1/ I've never wavered from the position that DeFi must be permissionless. There can't be "two" DeFis - one "regulated" (gated) & one "unregulated". The beauty of DeFi is its openness, automaticity & intermediary-less-ness. Policy goals must be achieved differently for DeFi.

How big can Hyperliquid get? “Finance as a whole” - $HYPE CEO @chameleon_jeff Hyperliquid

Amazing crypto stats in the @a16zcrypto State of Crypto 2025 Report. The DeFi Industry is rapidly growing. "The onchain economy — once a niche playground for early adopters — has evolved into a multi-sector marketplace with tens of millions of monthly participants. Nearly one-fifth of all spot trading volume now happens on decentralized exchanges."

4 takeaways from the @a16zcrypto 2025 State of Crypto report:

On the Hill today with @thecolinmclaren, @pmwnyc and @jito_labs's @RebeccaRettig1 for meetings with senators on both sides of the aisle committed to getting market structure legislation right. Looking forward to productive conversations! 🇺🇸

This week, the Nobel Prize in Economic Sciences was awarded to Joel Mokyr, professor of economics and history at Northwestern University. Sonal Chokshi interviewed Mokyr by phone in November 2016, shortly after his book, A Culture of Growth: The Origins of the Modern Economy, was originally published – on why Enlightenment culture sparked the Industrial Revolution. Why did the Industrial Revolution take place where it did, and then spread beyond? It had to do with a competitive, open market of ideas, Mokyr argues — a transnational “Republic of Letters” (not unlike the crypto ethos of online open source, decentralization, and more;). We’re sharing the full interview with Mokyr & @smc90 here, covering important themes from the history of progress that are relevant today: - going against ancient wisdom, and being able to contest ideas - the role of trust, collaboration, and credit in collaboration - competitive markets for ideas, elite vs. access in the printing press vs. the internet - the role of institutions and emergent organizations - 2 key ways to drive tech progress! - how to measure economic progress when technology is dematerialized …and more. Here are a few snippets from the interview 👇

Today @SolanaInstitute submitted a response with @fund_defi and @paradigm to @USTreasury's request for input on its efforts to identify and evaluate innovative methods for detecting and mitigating illicit finance risk involving digital assets. 🧵Here's what we said.

The fact that DeFi protocols like @aave stood strong in the face of yesterday’s unprecedented market conditions is a sobering reminder of the power and importance of over-collateralized, decentralized systems that programmatically manage risk. The autonomous and emotionless nature of DeFi prevents the kind of systemic risks driven by the panic, greed, and poor judgment that often worsen crises in traditional financial systems.

Large sell offs are good reminders of how DeFi is simply built different Uniswap did close to $9b in trading volume today - well above the norm - with no stress or downtime

auto deleveraging on hyperliquid is one of the clearest solves for derivatives regulation in the United States. The last 24 hrs is evidence

ADL is one of the clearest examples of how DeFi protocols improve, in code, the protections that derivatives law requires intermediaries to build. In regulated derivatives markets, clearinghouses must maintain a default risk waterfall: first, trader margin; then, the clearing fund; and finally, if losses exceed both, a loss-allocation mechanism that mutualizes what’s left across counterparties. That last layer (what CFTC regs call “procedures to allocate losses beyond the default fund”) conceptually mirrors ADL — but through regulated intermediaries. The parallel is intriguing. Both frameworks converge on the same truth, showing how you can remove intermediaries but can’t remove risk mutualization. Whether by red tape or smart contract logic, something has to be done to resolve when volatility disrupt things. I’d rather it be through trustless code than intermediaries that we hope don’t try to break the rules.

If I choose to custody my asset by myself using software, I do not need or want protections designed with custody by another in mind. This should not be hard to grasp or respect.