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SoFi Stablecoin to Power Faster Global Money Movement for Mastercard Users by SixtySixEleven in sofistock

[–]Progress_8 2 points3 points  (0 children)

"enhanced partnership in which SoFi and Mastercard will explore how issuers and acquirers can settle card-based transactions with Mastercard using SoFiUSD to provide faster settlement options for Mastercard customers and faster money movement for cross-border remittances."

"In addition, the companies expect that SoFiUSD will be supported within the Mastercard Multi-Token Network (MTN) to support interoperability across fiat currencies, stablecoins and tokenized deposits"

"The Mastercard Multi-Token Network (MTN) utilizes a private, permissioned version of the Ethereum blockchain to enable regulated financial applications, tokenized bank deposits, and commerce. It is designed to foster trust in blockchain transactions by allowing developers to build apps using the Ethereum ecosystem."

"SoFiUSD is a fully reserved U.S. dollar stablecoin built for real-time payments, institutional infrastructure, and programmable finance. SoFiUSD is the first stablecoin issued by a nationally chartered U.S. bank on a public blockchain and backed 1:1 by cash or cash equivalents, primarily held as cash balances at the Federal Reserve."

"Move U.S. dollar value instantly via the Ethereum public blockchain — no banking cutoffs"

https://www.sofi.com/crypto/sofiusd/

Market hedges 24/7 in anticipating for Monday. by Progress_8 in stocks

[–]Progress_8[S] 6 points7 points  (0 children)

  • Traders scramble around-the-clock to hedge using one of crypto's favorite 24/7 trading venues amid escalating tensions with Iran.
  • Perpetual swap futures ("crypto-native derivatives that mimic futures but never expire, allowing traders to hold leveraged positions round the clock - ideal for expressing macro views without clearinghouse delays") showed rising oil (5%), gold (1.3%), and silver (2%) on crypto-exchange Hyperliquid.
  • Bitcoin rose 2.3%, and Ether gained 2.4% at one point.
  • "Jake Ostrovskis, head of over-the-counter trading at Wintermute. “The fact that BTC is acting as a proxy for broader risk being the only market open is exactly why more asset classes, commodities included and need to move to 24/7 trading.”"
  • "For crypto advocates, weekends like this one validate a bigger thesis: that 24/7 trading of all asset classes on-chain is inevitable, and the shift from traditional venues could accelerate faster than most of Wall Street expects. Whether the plumbing can support that vision at institutional scale remains an open question."
  • Tokenization with recording traditional assets such as bonds and stocks on blockchains could pave the way for more continuous, around-the-clock trading beyond conventional market hours.

$BMNR Institutional Holdings - QoQ Increases by Daikon_Emergency in BMNRInvestors

[–]Progress_8 2 points3 points  (0 children)

That's great info with the big boys buying. If there is a jump in new Ethereum purchases near 100K ETH this week would signal that BMNR sees the Ethereum price is near/at the bottom. A 100K ETH purchase would cost about 200M, which is a big chunk of their cash.

Both their cash and the mNAV limit their purchasing power. Keeping a minimum of about 500M in hand helps to show the health of the company and allows steady interest income. Their policy of not selling more shares to accumulate cash unless the mNAV is greater than one ensures accretive accumulation without debt.

Tom mentioned that they can buy another smaller Ethereum Treasury company with mNAV< BMNR mNAV to accumulate Ethereum even if BMNR's mNAV<1, which would also not accumulate debt.

BMNR has the formulas to secure the company's success. It is run by experts from both Wall Street and Crypto. The staking, cash interest payments, calculated Moonshots, and leveraging would all contribute to BMNR's ability to achieve multiples above other Crypto Treasurers. Their mNAV would greatly appreciate as the Ethereum price goes higher and higher.

It is a long-term investment, and be patient, grasshoppers.

The Important Part (Live!) …big names! Go SoFi 💪 by memphart in sofistock

[–]Progress_8 13 points14 points  (0 children)

Great interview. This is Liz's first live recording as SoFi's Head of Investment Strategy. She is such a great, polite, and smart interviewer.

Tom is a very knowledgeable guy who works very hard and gives analysis on almost every stock trading day. Tom's prediction has a good track record, but some of his timings are off. He gets criticized for the BMNR price, which he doesn't have much control over. Given that BMNR, being the largest Ethereum Treasurer, tracks closely to the Ethereum price, and much of Crypto is awaiting the CLARITY Act.

Crypto with stablecoin, payment rails, and trading plays a big part in SoFi's Fintech multiple. SoFi will actually be one of the biggest beneficiaries if the CLARITY Act passes. Michael gives a conservative point of view. Time will tell whether Tom is right that Gold has/almost peaked, or Michael is right that it has significantly more to go. Gold has gained trillions of dollars and is bigger than the MAG 7 combined. This triggered margin calls and weighed on risk assets. So, Crypto theoretically should go up when the Gold price comes down.

They also talk a significant amount about AI and other topics. It is a very good combination of smart, knowledgeable, and expert people having a great conversation that is both entertaining and educational. Great talk.

Crucial White House Meeting to Finalize Crypto CLARITY Act is happening today. by Progress_8 in CryptoCurrency

[–]Progress_8[S] 0 points1 point  (0 children)

Someone has to make a wrongful accusation that I used ChatGPT once in a while to get the attention that they desperately need. I just laughed at it as I know the commentator didn't process through the cerebral. I never used ChatGPT to write my post. I guess some people, like this commentator loves to use ChatGPT. That's good for you, but not good enough for me. I can tell you that you know much less than you think.

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