Excited to share I’ve joined Sora Ventures (@soraventures) as Operating Partner & Chief Growth Officer. After the last couple of years at @Strategy, this felt like a natural next chapter. Looking forward to working with the Sora team and portfolio executive teams across Asia. Grateful to @JasonSoraVC for the opportunity, and to @TensorShard for the introduction and bringing me into the Sora team.

Something that got missed in the noise last week: Coinbase got approved to offer true global crypto perps in the US. This took many years of work, and we're the first to offer this global liquidity to US users. Backstory: For many years crypto trading has been moving offshore because the US didn't have clear rules, and perpetual futures were a superior product that traders wanted but it wasn't allowed in the US. If we're being honest, probably ~half of all perpetual futures volume was Americans using offshore products via VPN with loose KYC controls (an open secret in the industry). Penalties for this were rarely, if ever, enforced, which as you can imagine, was frustrating for us as an American company following the rules. Others set up offshore entities and found ways around it. After dozens of personal visits to DC, and many more from our policy team, I'm really proud we finally got approval to give US users access to true, global perpetual futures. This is important because we'll now see pooled global liquidity in perpetual futures, with the US and international markets being connected instead of fragmented. Coinbase is strongest in the US, and the US is the largest market for trading, so there is now a chance to build a global network effect around liquidity. And US traders can now use these products in a compliant way with a US company, which hopefully provides greater customer protection. Major credit to Chair Selig and Atkins on recognizing the importance of this for US capital markets. And we will keep working to update the system in a compliant way, and to be the best place you can trade.

People still think (or feel) because Bitcoin is down crypto is down. Derivatives/perps, stablecoins, prediction markets, etc are all up in crypto. Crypto touches every area of finance, and is much broader than Bitcoin now. It will take some time for this to sink in. (And yes - Bitcoin is going to do great and is as important as ever - one of many cycles we've all been through.)

Saturn is aware of the de-pegging of other STRC-backed stablecoins and protocols, but Saturn remains unaffected. Saturn designed USDat and sUSDat to segregate the risk. Reach out to the team directly with any questions.

DV8 has been rebranded to @Astratreasury (BKK:ASTR) and has purchased their first 1 BTC after acquiring Rakkar and becoming the first public company in Southeast Asia to obtain digital asset license.

We are excited to have completed our rebrand from DV8 to ASTRA, and for having purchased our first 1 BTC, shortly after acquiring Rakkar. Thank you @CryptoSlate for the coverage. cryptoslate.com/press-releas…

Moon Inc. is pleased to announce a strategic partnership with @BitGo to enhance and expand our prepaid card platform.

Excited to be speaking at BitcoinSeoul! 🇰🇷

The final rewards text in the CLARITY Act is now public. We’ve been clear throughout this process: much of this debate was based on imagined risks, not real evidence, nor was it based on a real understanding of how crypto actually works. Nevertheless, the crypto industry showed up to engage. Through months of meetings, the @WhiteHouse, @USTreasury, @BankingGOP, @SenThomTillis and @Sen_Alsobrooks finally arrived at a compromise. In the end, the banks were able to get more restrictions on rewards, but we protected what matters – the ability for Americans to earn rewards, based on real usage of crypto platforms and networks. We also ensured the US can be at the forefront of the financial system – which in this competitive geopolitical era is paramount. That’s important for innovation, consumers and America's national security. Now that this issue is behind us, it’s time to focus on the broader bill. While this debate has been underway, lots of progress has been made on other areas like token classification, defi, and tokenization. We’re excited to review the full, final text, and for the bill to move forward. It’s time to get CLARITY done.

🚀

As some of you may know, hearing @gladstein speak at the Bitcoin Policy Institute conference last last year was a turning point for me. It opened my eyes to a completely different dimension of Bitcoin. Bitcoin isn’t just financial but a freedom tool. It was incredible to connect with such a diverse group of people at @HRF reception at Bitcoin Conference this year. Individuals from all backgrounds, united by a shared belief in what Bitcoin can enable. Remember, every time we say “Bitcoin,” we push the freedom movement forward.

“A strong Bitcoin treasury company is fundamentally a strong company. You need a strong operating revenue. You need a strong employee base. You need a strong balance sheet.” -Paul Lee, CEO of @Bitplanet_KR @paulslee84 at @TheBitcoinConf with @JasonSoraVC from @SoraVentures

“A bear market is the best market to be operating a business. In a bear market, there are a lot of signals…and opportunities.” -Amanda Fabiano, COO at @nakamoto @TheBitcoinConf with @JasonSoraVC from @SoraVentures

MPJPY now tradeable on Robinhood. Our Depositary Bank is waiving the ADR issuance fee through June 12. Applies to both MTPLF conversions and new purchases. Full disclosure investor FAQ in the next thread. $MPJPY $MTPLF

The acquisition is complete. Rakkar Digital Co., Ltd., is now a subsidiary of DV8 (MAI: DV8). Share transfer and payment settled on 20 April 2026. Operations commence 27 April 2026. Thai licensed digital asset custodial wallet provider. Institutional infrastructure for Asian capital markets. set.or.th/en/market/news-and…

I'm heading back to Vegas this Sunday for #Bitcoin2026. @SoraVentures and its portcos will be representing in force. If you're in my network and going to be there, I'd to meet up.

The FDIC is building the prudential framework for stablecoins while Hong Kong missed its March licensing deadline. Two different speeds. Same direction.

Circle is applying the USDC playbook to Bitcoin. Their announcement today: cirBTC: 1:1 backed, onchain-verifiable reserves, built for institutions. The infrastructure layer keeps getting more credible. circle.com/cirbtc

The March 17 SEC/CFTC release drew clear lines for commodities and collectibles. Stablecoins got a narrower pass. For Asia, HKMA's licensing framework is the more relevant benchmark, and Hong Kong just missed its own March deadline. Two regulatory tracks, both still unresolved.

Looking forward to connecting with folks in the crypto industry next month in LV for Bitcoin 2026!