see you there! 🗽 this is THE dinner to be at dm if you want to join

A bank your parents have heard of. A payments app your roommate uses. A checkout that takes stablecoins. All shipped on Solana this week. Here's everything that happened: 📰 Headline News - Solana captured 97% of cumulative tokenized equities spot trading volume - @AnodosFinance announced its expansion to Solana to launch its flagship superapp - @CashApp rolled out stablecoin support, including USDC on Solana 📰 Launches - @SoFi launched SoFiUSD (SoFiD) on Solana, the first stablecoin from a U.S. nationally chartered bank - @tokens opened public access to the Assets API - @streamex and @orca_so launched 24/7 onchain secondary liquidity for regulated tokenized securities - @WalletConnect added Solana compatibility to WalletConnect Pay for merchant stablecoin and token spending - @shefiorg partnered with Solana to launch its largest educational cohort to date - @ExponentFinance activated Exponent v2, introducing strategy vaults and risk-tranching swaps - @refihub scheduled ReFi Hub’s launch on Crafts to establish global energy infrastructure as tokenized Solana RWA - @onrefinance expanded ONyc liquidity and fixed-rate infrastructure via integrations with @ExponentFinance and @Loopscale - @JupiterExchange initiated the Public Beta of its Offerbook, a fixed-rate credit platform enabling borrowing against any token, NFT, or trading card - @OREsupply advanced its progressive freeze strategy - @Dominion_Market launched 1:1 asset-backed physical silver tokenization natively on Solana - @totalistrading activated cross-market parlays on Solana, allowing unified trades across macroeconomics, sports, and politics - @tradeonhunch released an advanced trading terminal and prediction market aggregator - @UmbraPrivacy teamed with @streamflow_fi to implement private token vesting infrastructure - @zinc_cash shipped a private proof-of-work mining protocol on Solana powered by @Arcium - Solana launched its official TikTok account - @bonk_inu opened waitlist access to BONKUJI, its dedicated trading cards platform - @Beezie brought its collectibles platform and the Claw IRL to collectors at its Card Show in Seoul - @heydotlol rolled out Communities v2, delivering upgraded token-gating and anti-spam verification tools for ecosystem projects - @termina_tech introduced a historical mainnet simulation environment for developers to backtest DeFi logic - @blueshift released Web3.js 3.0, rebuilding solana/web3.js on Kit - @sunrisedefi brought DEUS from @xmaquina natively to Solana - @packetchat deployed Packet MCP to equip autonomous AI agents with wallet-native inboxes and sovereign payment rails - @codecopenflow launched SimArena, a browser-based robotics simulator that generates training data directly from URL - @wingbits introduced an AI platform enabling natural language tracking and autonomous agent alerts for real-time aviation data - @SolanaInstitute announced the Solana Summit: Washington x Wall Street event in Chicago for June 16 - @SolanaFndn joined the Open Transaction Layer as a founding partner to develop cross-chain standards - @UmbraPrivacy wallet app launched on the iOS app store - AlmaU signed an MOU to integrate Solana blockchain development into its academic curriculum 📰 Milestones - @solsticefi surpassed $500M in TVL - @mayan crossed 1M external wallets bridged to Solana, with $2.5B in stablecoins moved across 600K transactions - Solana hit a new record high of over 200K onchain tokenized stock holders If you enjoyed this week’s newsletter, please share it with an RT.

Institutional-grade assets don’t belong in closed markets. Today, #GLDY becomes the first tokenized security to access onchain liquidity through @orca_so on Solana. Permissioned pools gated by Streamex, powered by Orca's permissionless onchain liquidity rails.

Tokenized assets used to be mostly Treasurys and commodities. That’s changing. In early 2024, those two categories accounted for almost the entire market. They’re still about two-thirds of it, but other kinds of assets are starting to take up more space.

A legitimate concern with the #CLARITYAct is that it appears to restrict passive yield on stablecoins. For example, if you’re holding USDC on Coinbase and earning a simple APY just for holding that balance, that type of reward looks like exactly what the bill is targeting. So yes, the banks did get protection here. But the bigger picture is more complicated. The bill doesn’t appear to ban all stablecoin rewards. It allows activity-based and transaction-based incentives tied to actual usage of crypto rails. That means the fight is shifting from passive yield to real utility. Would I prefer people be able to earn yield on their own stablecoins? Absolutely. But I also think this bill opens the door for crypto to move further into the mainstream. Once people are given a legal, regulated, easy-to-use choice between legacy banking rails and crypto rails, the advantage still shifts toward crypto. The banks may win protection on passive yield but the choice people will be given is what will ultimately be the demise of the central bank system. Crypto will still win the bigger battle: access, adoption, speed, transparency, 24/7 settlement, and financial choice.

🧠🧵 Lessons from the Front Lines: Wall/Bay Street’s Darker Side Regulators may kill yield on stablecoins… But markets don’t accept 0%. They route around it. 1/ There’s a massive shift coming in crypto capital markets: 👉 Stablecoins are being pushed toward non-yield-bearing structures 👉 “Safety” over return 👉 Regulation over innovation Sounds fine… until you realize: Capital doesn’t sit still at 0%. ⸻ 2/ Let’s be clear: If stablecoins can’t pay interest… they stop being capital-efficient instruments They become: 👉 Transaction rails 👉 Parking lots 👉 Dead money And trillions don’t stay in dead money. ⸻ 3/ So what happens next? The market does what it always does: 👉 It engineers yield somewhere else 👉 It builds structures around constraints 👉 It creates synthetic exposure Yield doesn’t disappear. It migrates. ⸻ 4/ This is where things get interesting 👇 If stablecoins are stripped of yield… Then capital will move to: 👉 Tokenized real-world assets (RWAs) 👉 Yield-bearing digital commodities 👉 Structured on-chain products And this is where GLDY enters the conversation. ⸻ 5/ GLDY (tokenized gold with ~3.5% yield) is NOT a stablecoin. It’s something far more interesting: 👉 Hard asset backing 👉 Embedded yield 👉 24/7 liquidity rails It’s a yield layer. ⸻ 6/ Now think structurally: Instead of: ❌ Stablecoin paying yield You get: ✅ Stablecoin (liquidity) ✅ GLDY (yield engine) Or even: 👉 Structured products combining both That’s where institutions start paying attention. ⸻ 7/ Here’s the uncomfortable truth regulators miss: You can ban yield in one wrapper… But you can’t eliminate: 👉 Demand for yield 👉 Financial engineering 👉 Capital optimization So the system adapts. It always does. ⸻ 8/ And when it adapts… New winners emerge. If GLDY becomes: 👉 A collateral layer 👉 A treasury allocation 👉 A structured yield component Then it’s no longer “a product” It’s infrastructure. ⸻ 9/ This is the real thesis: Not “stablecoins need GLDY” But: 👉 Capital needs yield 👉 Stablecoins may lose it 👉 GLDY (and similar assets) could capture it That’s a MUCH bigger trade. ⸻ 10/ If this plays out: We’re looking at: 👉 Tokenized yield markets 👉 Hybrid financial products 👉 A complete re-pricing of “digital cash” And most people are still arguing about stablecoins at $1. They’re missing the layer above it. ⸻ 11/ The punchline: If regulators suppress yield in stablecoins… they may unintentionally create a multi-billion dollar opportunity elsewhere. The question isn’t if yield returns. It’s: 👉 Where it lives next. ⸻ 12/ Watch closely: 👀 Tokenized assets 👀 Yield-bearing commodities 👀 Structured on-chain products Because that’s where capital is going. And when it moves… It moves fast. #GLDY #Crypto #Stablecoins #Tokenization #RWA #DeFi #Gold #FinTech #DigitalAssets @streamex @henrymcphie_ @MLekstrom @EricBalchunas $STEX @Frank_Giustra

RWA just hit $19.3 billion in market cap. Roughly one in every four dollars in that number is tokenized gold. Now look at how that capital is structured. The most popular tokenized gold products are 1:1 wrappers on physical gold. They don't generate yield natively. To earn yield, holders have to go somewhere else: - Liquidity mine in a gold/stablecoin pool. Risk: impermanent loss. If gold rips, you end the period with more dollars and less gold than you started with. - Lending. Risk: smart contract bugs and borrower defaults. - CeFi platforms. Risk: custody handed to a centralized lender, pain in their token, often with lockups. All of these are real products that work for some people. But each introduces something that gold doesn't have: counterparty risk, smart contract risk, or impermanent loss. The worst part is that yield isn't usually paid in gold but in stablecoins, governance tokens, or synthetic dollars. #GLDY's yield comes from physical gold leased to commercial users (jewelers, refiners). Lessees pay back the original ounces plus more ounces in interest at the end of the term. All positions are overcollateralized at 110% with Tier-1 insurance, and Streamex retains title throughout. You hold the token. Your gold count grows. Paid in gold.

The same crisis driving oil higher is pressuring gold at $4,600. Surging oil, inflation fears, and rising rate expectations all make non-yielding assets less attractive. Gold investors have always absorbed that with no return. #GLDY holders are earning 3.5% APY in gold through the wait.

Going to the Mets game this afternoon. Say a prayer for me and the 25 other people that will be in the ballpark.

There is a home health care company in Portland, Maine called ‘Legit Home Healthcare’ Legit Home Healthcare has billed Medicaid $7.1 million When visiting the building, “They’ve been ‘out for coffee’ for 6 months” The wife of Somali-born Democrat Maine State Rep Yusuf Yusuf is an employee there This company billed MaineCare approximately $7.1 million from 2019 to 2024 Rep. Yusuf also operates his own home care business

Turkey sold an unprecedented 7 tons of gold within a week. The reason is clear. Gold is a reserve asset. Gold is not a monetary asset (yet). But the direction is clear: gold as a monetary asset and an updated model of a hard money standard. This is what @streamex has set out to do. Streamex represents a next-generation blockchain-enabled gold instrument featuring a yield-bearing component in addition to tracking changes in the spot price of gold. The advantage is obvious: GLDY pays a yield monthly, in gold instead of having your gold sit idle. No management fee. No storage cost. And gold is just the beginning. Streamex is building the rails for tokenized commodities on-chain, starting with gold. Complete transparency, everything is on-chain. Know more on cjn.link/streamex and tune in to their live show at 12:00 pm EST on @RoundtableSpace. Disclaimer: This content was produced in collaboration with the client and is intended for informational purposes only. It does not constitute financial or investment advice. Always conduct your own research before making any financial decisions.

Gold ETFs took years to go mainstream, and they still don't offer yields. $GLDY fixes this: up to 3.5% yield on the gold you can physically redeem. There's $540B in gold ETFs right now, earning zero. If just 1% flows to $GLDY, that's a potential TAM of $5.4B $STEX helps you capture this value. @MLekstrom explains the value capture on the @MarioNawfal show.

PARTNERED SHOW: What It Takes to Scale Commodity Tokenization w/@streamex x.com/i/broadcasts/1dJrPEnoM…

gold quietly became one of the cleanest performers of the last year so seeing @streamex turn that into an onchain product with ~4% yield is honestly more interesting than most “safe” crypto narratives right now a regulated platform bringing gold-backed yield onchain feels like a pretty strong bridge between tradfi and defi GLDY feels like one of those products worth watching, especially for accredited investors looking at this space

🧠🧵 Lessons from the Front Lines: Wall/Bay Street’s Darker Side $STEX didn’t “fail to rally” after the convert buyout — it’s still digesting a massive short trade most people don’t see. 👇 🚨 1/ “Convertible gone = 🚀” ❌ Wrong. 👉 The dilution risk is gone — the short pressure isn’t

"There's a structural flaw in gold. Because it's physical, you can't really use it to settle international transactions. You either have to store it with a third-party -- a vault in Switzerland, London, or New York, which puts it at high risk of seizure -- or you have to transport it via insecure/slow planes, trains, and busses. No central bank wants these things." A classic debate/sales technique when you position one thing vs. another is to focus attention on a small issue with one side, rather than providing a balanced view. Nothing is perfect. And IMO it's far easier to make bitcoin holdings quasi-private than it is to make gold securely non-physical. Central bank adoption is coming. They'll hold both bitcoin and gold. It'll just take time.

Gold ETFs crossed $669 billion in AUM. Hundreds of millions in management fees are paid annually. Yet investors have never received a yield. Tokenization makes gold programmable. $GLDY makes it yield-bearing.

For those investors that are not yet accredited or want the operating leverage, $STEX:NASDAQ stock is the leverage on the whole ecosystem. Welcome to a new age of securities and commodities.

can I get a GM fam? 💛 China wants to buy ALL GOLD & make it Asia’s Bitcoin gold is constantly printing ATHs - so why not leverage it onchain? i’m bullish on gold-backed yield generating stablecoins like $GLDY also thinking of $USDKG, Tether’s $XAUT & Paxos’ $PAXG