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Oct 2025

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Claude Code：AI吞噬软件开发的转折点

SemiAnalysis认为Claude Code标志AI Agent时代开启，已占据GitHub 4%提交，Anthropic营收增速超OpenAI。它颠覆软件开发与信息工作，威胁SaaS与微软模式，预示知识经济重构。

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巨大的泡沫和巨大的财富差距带来的巨大危险

了解财富和金钱之间的区别以及它们之间的关系非常重要，最重要的是：1）当金融财富相对于金钱数量变得非常大时，泡沫是如何产生的；2）当需要金钱导致出售财富以获取金钱时，泡沫是如何破裂的。

0.005 USDC 2 purchases

Hotwire Native 深度解析：推送通知

原生推送通知比较复杂，因为需要正确处理很多环节。以下是我在 Hotwire 原生应用中实现原生推送通知的详细步骤。

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Moon

· 16h

三分之二的加密基金表现糟糕。 @mdudas 在 #GSR 的播客节目《加密货币磁带》中，他分析了当前 #加密货币领域的恐慌情绪。

https://x.com/fintechfrank/status/2038996720919396653?s=20

中文 English

0:00 加密风投是一类真正能回报资金的风险投资

0:06 历史上

0:08 比传统风投快，但仍远慢于加密市场

0:14 参与者

0:14 习惯的速度。最大担忧是，嘿，我们在

0:23 2020-21-22年期间投入了很多资金，

0:26 但还没收回多少。如果我们把钱投进了

0:30 比特币或以太坊

0:32 或Solana，我们就能经历涨跌，获得选择权。

0:36 我们本来

0:36 能做出选择，撤出资金。我们想要控制权和流动性。

0:41 这是

0:42 目前大资本最想要的，就是选择权，

0:50 但大多数风投

0:52 表现不佳。这不代表总资金的表现

0:56 不好，

0:57 因为你会发现，你提到龙飞的Rob，我之前在这里说过。

1:01 顶尖的，

1:01 我提了60年代。顶级基金表现不错，就总金额而言。

1:06 就基金数量而言，

1:08 我会说大约三分之二的加密基金表现

1:12 很差。

0:00 Crypto VC is a class of venture capital that actually returns money to

0:06 investors historically

0:08 faster than traditional VC, but it still returns much slower than crypto market

0:14 participants are

0:14 used to. The biggest fear was, hey, we put money into a bunch of funds in the

0:23 2020-21-22 period,

0:26 and we just haven't gotten a lot of money back. If we had put that money into

0:30 Bitcoin or Ethereum

0:32 or Solana, we would have weathered ups down, so we would have had optionality.

0:36 We would have

0:36 been able to make choices, pull it out. We want control and we want liquidity.

0:41 That's the biggest

0:42 thing that folks with significant capital want right now is just optionality,

0:50 and the most VCs

0:52 perform poorly. That doesn't mean the most in aggregate of the money performed

0:56 poorly,

0:57 because what you find is, you mentioned Rob from Dragonfly, I was here earlier.

1:01 The top,

1:01 I mentioned a 60s. The top funds have done well, so in terms of total dollars.

1:06 In terms of funds,

1:08 I would say the number of funds, two-thirds or something of crypto funds to

1:12 terrible.

Moon

· 1d

#Aave V4 现已在 #ethereum 上线。

https://x.com/aave/status/2038614626099716165?s=20

中文 English

0:00 全世界的金融系统将运行在

0:03 像ARBA和去中心化金融这样的协议上。

0:06 它实际上可以资助我们想要生活的未来。

0:09 今天节目里我们要谈谈DeFi。

0:12 当然，去中心化金融。

0:14 我们能谈谈中心化和去中心化交易所的区别吗？

0:17 交易所？

0:18 第一次听说以太坊时，

0:23 我兴奋得整夜都在阅读相关资料。

0:27 它创建了一套规则，允许重新构建世界架构。

0:31 我的想法是构建一个产品，让全球都能接触到金融。

0:36 它始于2017年的一次实验，

0:40 名为“Etland”，利用以太坊和智能合约实现点对点借贷。

0:46 合约。

0:47 但从接入角度看，仍远未触及主流

0:51 用户。

0:52 我记得那时我们可能只有几十个用户。

0:56 最近这段时间一直很艰难。

0:57 这段动荡时期，简直是与一年前完全相反的镜像。

1:02 加密货币显然遭遇重创。

1:04 2018年是个非常黑暗的时期。

1:07 很多ICO失败，领域内也有坏人。

1:10 这表明那些决策机制极不透明的系统，

1:15 是多么脆弱。

1:16 它们有多脆弱。

1:18 但像ARBA这样的协议则完全相反。

1:22 那时我们意识到可以从纯点对点

1:26 借贷模式

1:27 转向更池化的模式。

1:29 这也是ARBA的关键转折点。

1:32 因为我们从“Etland”更名，并正式推出了

1:37 ARBA的第一个版本。

1:38 那个时期很独特。

1:40 全球经历了全面封锁。

1:42 利率降至零。

1:44 与此同时，稳定币已开始在DeFi中使用，

1:48 相较传统金融，提供了更好的金融机会，

1:52 该领域开始扩张。

1:53 催生了DeFi夏季以及第一波DeFi浪潮。

1:57 融合银行业务，像抵押贷款、股票交易所

2:02 都上链了。

2:04 疫情前，ARBA并不被认可，

2:06 疫情后它成为最重要的项目，

2:09 拥有数千、数十万，

2:13 甚至超过上百万账户。

2:16 截止目前，ARBA已处理超过三万亿美元

2:20 的存款和超过一万亿美元的借贷量。

2:25 它是领先的DeFi协议。

2:28 我们将看到DeFi成为金融科技和金融的新后端。

2:32 ARBA V4实际上将ARBA带入一个新环境，

2:38 可以开始资助现实世界的机会。

2:42 V4与ARBA V3最大的区别是

2:46 架构完全模块化，

2:49 这意味着未来可以轻松扩展新的应用场景。

2:54 例如将来可以用数据作为借贷抵押。

2:58 所以ARBA不仅能成为有价值的基础设施，

3:01 资助传统金融中的现有金融机会，

3:04 赋能全球每个人。

3:08 同时，它也能资助我们想要的未来。

3:13 这就是为什么DeFi被需要、为什么它会

3:18 胜出的重大认知。

0:00 The whole world's financial system will run on

0:03 protocols like ARBA and decentralized finance.

0:06 It can actually fund the future that we want to live in.

0:09 Today on the show we're talking about DeFi.

0:12 Sure, for decentralized finance.

0:14 Can we talk about the difference between a centralized and a decentralized

0:17 exchange?

0:18 First time I heard about Ethereum,

0:23 I was so excited that that was actually like spending nights to read about it.

0:27 It creates a set of rules that allows to re-architect the world.

0:31 My idea was to build a product which allows access to finance globally.

0:36 It started as an experimentation in 2017,

0:40 named "Etland" that allowed peer-to-peer lending by using Ethereum and smart

0:46 contracts.

0:47 But from an access point of view, it was still very far from any mainstream

0:51 users.

0:52 I've remembered the time when we had maybe like dozens of users.

0:56 It's been a rough run here lately.

0:57 For the wild times, literally the mirror image from exactly a year from now.

1:02 Crypto obviously getting crushed.

1:04 In 2018, it was a really dark time.

1:07 A lot of ICOs failed, bad actors also in the space.

1:10 And it showed that systems that have very little visibility on how decisions

1:15 are made,

1:16 how fragile they are.

1:18 But protocols like ARBA, it's completely the opposite.

1:22 At that point, we realized that we could move from a purely peer-to-peer type

1:26 of a lending model

1:27 into a more pooled model.

1:29 That was also very pivotal moment for ARBA as well.

1:32 Because we rebranded from "Etland" and we actually then launched the first

1:37 version of ARBA.

1:38 That time period was unique.

1:40 The world went through a complete lockdown.

1:42 And interest rates went to zero.

1:44 At the same time, stablecoins being already used in the EFI,

1:48 giving better financial opportunities compared to the traditional finance,

1:52 that segment started to expand.

1:53 Created this EFI Summer and the first big wave of EFI.

1:57 Blending, banking, things like mortgages, stock exchanges,

2:02 and putting them on a blockchain.

2:04 Before COVID, ARBA wasn't really recognized.

2:06 And after it was the most important project,

2:09 we started to have thousands of users, hundreds of thousands,

2:13 and over millions of accounts.

2:16 As of today, ARBA has processed over three trillion dollars

2:20 worth of deposits and over one trillion dollars worth of borrow volume.

2:25 It's a leading EFI protocol.

2:28 We're going to see EFI becoming the new backend for FinTech and finance.

2:32 And ARBA V4 is actually taking ARBA into a new environment

2:38 where we can start funding opportunities in real world.

2:42 The biggest difference between V4 and ARBA V3 is that

2:46 the architecture is completely modular,

2:49 which means that it's easy to extend into new use cases that will emerge.

2:54 In the future, for example, it can be lending against data.

2:58 So not only ARBA can be a valuable infrastructure

3:01 to fund existing financial opportunities in the traditional finance

3:04 and create a lot of empowerment for every individual in the planet.

3:08 But at the same time, it can actually fund the future that we want to live in.

3:13 That is a sort of big realization why the EFI is needed and why the EFI will

3:18 win.

Moon

· 3d

纽约证券交易所（NYSE）正在构建一个全新的替代性交易系统（ATS），用于交易代币化股票和ETF，并支持全天候24/7交易。

这为 #DeFi 永续合约提供了强有力的背书，并利好其走势。

该系统还有助于解决“周末定价预言机问题”。

@ventuals ' @alvinhsia 在 @GSR_io 的《The Crypto Tape》节目中对此进行了详细解析 #NYSE

https://x.com/fintechfrank/status/2038274082295169115?s=20

中文 English

0:00 我觉得对Nizee敢于迈出这一步表示敬佩，我认为这是

0:05 极具认可意义的

0:06 看到这样的实体进入代币化股票领域非常重要。我认为关于

0:13 这对股票衍生品平台看空的观点

0:14 其实完全错误。我认为这实际上是

0:19 非常有益的

0:20 原因是，当你对代币化的现货资产实现24/7定价时，

0:28 你就解决了周末定价预言机的问题，

0:29 这是我们在初期股票永续合约

0:35 平台上看到的现象。市场包括夜盘和盘外市场

0:35 在周五晚上和周末关闭，存在一段时间

0:42 没有预言机

0:43 数据来确定永续合约的合理价格。在这期间，

0:47 价格喂价缺失

0:48 虽然没有出现太多

0:54 异常交易行为，

0:55 但我们确实看到这些市场在周末出现了一些非自然的价格表现，

1:02 原因是永续合约的运作方式需要依赖于这种

1:02 外部数据喂价

1:08 作为价格预言机，而这在周末通常是关闭的。拥有

1:09 24/7交易的

1:15 代币化现货股票将解决这个问题，

1:18 并带来更多流动性

1:23 和可交易的市场，甚至在永续合约方面，

1:24 也能实现周末交易。

0:00 I think hats off to Nizee for just taking the step to do that, I think it's

0:05 hugely validating

0:06 to see an entity like that moving into tokenized equities. I think the takes on

0:13 this being bearish

0:14 for equity per platforms is actually completely off base. I think it's actually

0:19 a very beneficial

0:20 thing. The reason is because when you do have 24/7 pricing on the tokenized

0:28 spot assets,

0:29 you solve the weekend pricing oracle problem that we've seen with the nascent

0:35 equity perps

0:35 platforms today. When the markets, including the overnight and off-hour markets

0:42 shut down

0:43 on Friday nights, over the weekends, there's this period of time where there's

0:47 no oracle

0:48 data feed for what the perps should be priced at. There hasn't been too many

0:54 funky things going on,

0:55 but we have seen some inorganic looking price behavior on some of these markets

1:02 over the weekends.

1:02 The reason why that is because the way that perps work is they require this

1:08 external data feed

1:09 to be the price oracle, and that shuts off over the weekends normally. Having

1:15 24/7 trading on

1:18 these tokenized spot equities will get rid of that problem and lead to more

1:23 liquid

1:24 tradable markets over the weekends, even on the perps side.

Moon

· 4d

@Brian_Armstrong 数字美元的价值可能从现在起增长 100 倍到 1000 倍。
信用卡：手续费 2-3%。SWIFT 转账：2-3 个工作日。
“稳定币是唯一能够同时满足这三项条件的支付方式。它速度快、成本低、全球通用。”
去年增长了约100%。 #usdc

https://x.com/MilkRoad/status/2037529894578757769?s=20

中文 English

0:00 大家的想法。嗯，我认为数字美元仍然被严重低估，

0:04 可能会增长100倍或

0:06 1000倍。原因是全球支付

0:12 仍存在相当大的摩擦，

0:14 对吧？现在，你知道，在某些国家，比如巴西的PIX，

0:20 或者印度的UPI，

0:21 他们已经成功让支付变得相当快捷且便宜，但它们只

0:25 能在那个国家内使用。

0:26 其他国家，比如欧洲，他们有免费的

0:30 即时银行转账，

0:32 这确实是个很好的功能。但如果你看大多数支付

0:36 方式，

0:36 无论是信用卡、Swift还是其他，仔细看这

0:39 三个维度，

0:40 成本、速度和全球覆盖。所以，比如说

0:46 以信用卡为例，

0:46 它们全球覆盖还不错，但成本很高，

0:50 每笔交易要扣两到三

0:51 个百分点。而且处理速度还挺快的，对吧？如果看

0:57 Swift，它全球覆盖也好，

0:58 但很贵。大概需要两到三

1:03 个工作日左右。

1:04 所以，加密稳定币是唯一

1:08 同时满足这三个条件的支付渠道，快速、便宜且全球化。

1:09 你现在可以瞬时发送稳定币，

1:14 全球任何地方不到

1:15 一秒钟，花费不到一美分的十分之一。

1:20 支付就像水，

1:22 总是流向阻力最小的路径。我认为这就是

1:25 我们见证稳定币如此

1:26 爆发增长的原因。我估计它去年同比增长了大约100%，

1:30 越来越多的全球GDP，

1:31 未来将依赖稳定币渠道运行。

0:00 people think. Well, I think a digital dollar is very still underappreciated and

0:04 could grow 100 or

0:06 1000 X from here. The reason is that payments are still relatively high

0:12 friction around the world,

0:14 right? Now, you know, in certain countries, like I'd say in Brazil with picks

0:20 or in India with UPI,

0:21 like they've managed to get payments to be quite fast and cheap, but they work

0:25 only within that

0:26 one country. Other countries, like in Europe, they have instant bank transfers

0:30 that are free

0:32 essentially, and that's a really good feature. But if you look at most payment

0:36 methods,

0:36 whether it's credit card or Swift or anything, and you kind of look at these

0:39 three dimensions,

0:40 like the cost, the speed, and then the global reach. So they're, you know, let

0:46 's take credit

0:46 cards, for example, like they have pretty good global reach, but they have high

0:50 cost, two to three

0:51 percent on every transaction. And they're quite fast, right? If you look at

0:57 Swift, it has good

0:58 global reach, but it's expensive. And it takes like, I think what, two to three

1:03 business days or

1:04 something like that. And so if you crypto stable coins are the only payment

1:08 rail that checks all

1:09 three boxes, it's fast, cheap, and global. So you can now send stable coins

1:14 instantly less than one

1:15 second anywhere in the world for less than a tenth of a cent US. And so

1:20 payments are like water,

1:22 they kind of flow to the path of least resistance. And I think that's why we're

1:25 seeing such enormous

1:26 growth in stable coins. I think it grew about maybe a hundred percent year over

1:30 year last year,

1:31 and more and more of global GDP, I think will run on stable coin rail.

Moon

· 4d

迈克尔·塞勒告诉沙特国家电视台，他们 9300 亿美元的主权财富基金应该购买“所有比特币”
“如果你想让你的钱翻1000倍，那就买比特币。”

https://x.com/Vivek4real_/status/2037724859262746842?s=20

中文 English

0:00 相当势不可挡。白宫已经将其认可为唯一的数字

0:05 世界上他们承认的数字资产。

0:08 这使它成为数字黄金，也使它具有道德性。

0:11 所以如果世界上最有权力的人说它是数字黄金，并且说

0:16 不要卖出你的比特币，我们会买更多，

0:19 我认为最后一道障碍已经被打破，合法化之路

0:23 已经开启。

0:25 所以告诉我，如果你是主权财富基金，沙特阿拉伯，阿联酋，

0:30 科威特，你会如何分散投资组合？

0:33 你会持有多少比特币？

0:35 全部持有。

0:37 说实话，我总觉得这是一种智商测试。

0:43 就像如果你有十亿美元，想让它翻倍，

0:46 你会买十亿美元的比特币并发布新闻稿。

0:48 但如果你想赚一万亿美元，

0:52 你会试着买我公司现在拥有的那么多。

0:54 你去买价值500亿美元的比特币，继续买，

0:59 它最终会给你带来一万亿美元回报。

1:01 所以你应该买尽可能多的钱，对吧？

1:05 我对比特币的预测是，每年复合增长29%，持续21年，

1:13 这会比第二好的资产好三到四倍。

1:18 所以，是的，我能告诉你投资组合里配5%，但更聪明的做法是

1:23 配150%。

1:27 如果你想多赚10倍，就买比特币。

1:29 如果你想多赚100倍，就用别人的钱买比特币。

1:32 如果你想多赚1000倍，就用别人的钱买比特币并

1:36 加杠杆，对吧？

1:38 最简单的做法是以3%、4%、5%的利率借钱，投到30%到60%的回报里。

1:44 拿差价。

1:46 我的公司用了4年半，企业价值从6亿美元涨到1080亿美元，

1:51 我们就是用了这个公式。

1:55 我们就在加杠杆。

1:57 所以我认为尽可能多买是正确的答案。

0:00 Pretty unstoppable. The White House has anointed it as the one sole digital

0:05 commodity in the world that they recognize.

0:08 That makes it digital gold, that makes it ethical.

0:11 And so if the most powerful man in the world says it's digital gold and says

0:16 don't sell your Bitcoin and we're going to buy more,

0:19 I think that the last hurdle has been leaked in terms of on the path of

0:23 legitimacy.

0:25 So tell me if you're a sovereign wealth fund, Saudi Arabia, United Emirates,

0:30 Kuwait, how would you be diversifying that portfolio?

0:33 How much Bitcoin would you own?

0:35 All of it.

0:37 Look, to tell you the truth, I always want, I think it's kind of an IQ test.

0:43 It's like if you had a billion dollars and you wanted to double it, you would

0:46 buy the billion dollars of Bitcoin and put on a press release.

0:48 But if you wanted to make a trillion dollars, you would try to buy as much as

0:52 my company has right now.

0:54 You go buy $50 billion worth of Bitcoin and just keep buying and it'll be a

0:59 trillion dollars to you.

1:01 So you ought to buy as much as you want money, right?

1:05 I think that my forecast for Bitcoin is it goes up 29% a year compounded for 21

1:13 years, which is going to be three, four times better than the next best thing.

1:18 So, yeah, I could tell you you put 5% of your portfolio in it, but smarter

1:23 would be to put 150% of your portfolio in it.

1:27 If you want to 10 extra money, you buy Bitcoin.

1:29 If you want 100 extra money, you buy Bitcoin with somebody else's money.

1:32 And if you want 1,000 extra money, you use somebody else's money by Bitcoin and

1:36 you lever it, right?

1:38 The simplest thing going is borrowing money at 3, 4, 5% invested at 30 to 60%.

1:44 Keep the difference.

1:46 My company went from a $600 million enterprise value to $108 billion enterprise

1:51 value in 4.5 years, and we just did that formula.

1:55 We're just levering it.

1:57 So I think as much as you can get is the right answer.

Moon

· 5d

#Coinbase 首席执行官在福克斯新闻直播中表示：

大型银行正在幕后运作，试图阻挠总统的亲加密货币议程。

他们想拖慢加密货币的普及进程。

他们想掌控整个系统。

他们想扼杀加密货币。

这场斗争真实存在 🔥 #usdc #usd1 https://x.com/Vivek4real_/status/2037457120657023209?s=20

中文 English

0:00 我们通过了天才法案，这实际上使稳定币

0:05 奖励成为可能。

0:07 银行有自己的担忧，但我们在天才法案中达成了良好结果。

0:11 天才法案。

0:11 现在银行真的来了，试图破坏总统的

0:14 加密议程。

0:15 我是说，这些银行就是当初切断他和他家人账户的银行，对吧？

0:19 他们想进来说美国人不应该能真正

0:22 通过他们的钱赚更多钱

0:23 。

0:24 他们试图保护自己的利润率，把钱从

0:28 勤劳的普通美国人口袋里拿出来，

0:28 放进这些收益创纪录的大银行

0:32 的金库里。

0:33 这些银行创下了历史新高的利润。

0:35 所以我们的观点是，应该有一个公平竞争的环境，让银行和

0:39 加密

0:39 公司能将稳定币立法视为一个机会。

0:43 这包括向美国人支付奖励，让他们能在

0:46 他们的钱上赚更多钱。

0:00 We got the Genius Act passed into law, which actually did enable stablecoin

0:05 rewards to happen.

0:07 The banks had their own concerns and we reached a good outcome in the Genius

0:11 Act.

0:11 And now the banks really are coming and trying to undermine the president's

0:14 crypto agenda.

0:15 I mean, these are the same banks that debanked him and his family, right?

0:19 And they want to come in and say that Americans should not be able to actually

0:22 earn more money

0:23 on their money.

0:24 They're trying to protect their own profit margins, taking money out of the

0:28 pockets of

0:28 hardworking average Americans and putting it into the coffers of these big

0:32 banks that

0:33 are hitting record profits.

0:35 And so our view is that there should be a level playing field where banks and

0:39 crypto

0:39 companies can lean into stablecoin legislation as an opportunity.

0:43 And that includes paying rewards to Americans so that they can earn more money

0:46 on their money.

Moon

· 5d

隆重推出 Constellation：一款面向 Solana 的多提案者并发协议。凭借提案者以 50 毫秒为周期的运行机制，Constellation 为 Solana 带来了所有区块链中由协议强制执行的最快经济 tick 率。🧵

https://x.com/anza_xyz/status/2036836554233000044?s=20

中文 English

0:00 如果有足够丰厚的回报，Solana核心开发者愿意承受很多痛苦。

0:04 我是Brennan，ANZA的CEO。你可能因为我们的

0:08 最大成就——支撑Solana网络的Agave客户端而认识我们。

0:13 Constellation是Solana区块空间的民主化。

0:18 Solana正在逐步成熟，

0:22 变成能驱动互联网资本市场的交易引擎。

0:26 我们不能被单个提议者所左右，

0:30 他们可能会宕机，影响系统弹性，或者导致交易排序的不确定性。

0:35 多个提议者带来了我们需要的弹性和可预测的执行。

0:39 Solana已经在全球范围内运行，

0:44 交易和TPS达到数千级别。

0:48 Constellation与现有Solana结合，

0:51 将区域性优势引入现有模型。

0:55 这里的区域性意味着非常短的

0:58 区块链包含时间，因为会有这些区域节点被建设起来。

1:01 我觉得人们严重低估了

1:03 这硬件的强大，以及单一设备能推进多少TPS。

1:08 现在是谈论Constellation的合适时机，

1:11 因为我们准备开始构建了。设计方案酝酿已久，

1:14 我们有一个非常有信心的设计，

1:16 现在想推向治理，让社区和验证者审视、拆解，

1:20 确保他们和我们ANZA一样有信心。

1:24 ANZA愿意全力以赴支持大创想，持有不同观点，

1:28 不惧艰辛，

1:32 在执行上交付成果，

1:35 并在时间线上真正让人惊喜。

0:00 Solana core developers are willing to endure a lot of pain if there's a big

0:04 enough prize waiting on the other side. I'm Brennan, CEO of ANZA. You may know

0:08 us for our greatest hit, the Agave client, which powers the Solana network.

0:13 Constellation is the democratization of block space on Solana. This is Solana

0:18 growing up a little bit. It's the maturation of this system

0:22 into the trading engine that can go power internet capital markets. We

0:26 can't be at the whims of a single proposer that might be down

0:30 and hurt the resiliency or otherwise providing unpredictability when it

0:35 comes to transaction ordering. Multiple proposers provides that resiliency

0:39 that we need and predictable execution. Solana is already operating at global

0:44 scale with transactions and TPS measured in the thousands.

0:48 Constellation pairing with what we already have with Solana

0:51 brings the best elements of regionality into that existing model.

0:55 And regionality in this case means very short

0:58 inclusion times into the blockchain because of these regional hubs that will

1:01 get built out. I think people really under appreciate

1:03 how powerful this hardware is and just how much TPS we can push in a single

1:08 box. Now is the right time to talk about constellation

1:11 because we're ready to build this thing. We've been talking about designs for a

1:14 long time. We've got one that we have really high

1:16 confidence in and now we want to push that out for governance, let the

1:20 community and the validators look at it, pick it apart, and make sure that they

1:24 share the same confidence that we do within Aonzo. Aonzo is willing to go all

1:28 in on big ideas, take a contrarian opinion, not shy

1:32 away from the hard work, and go deliver results when it comes to execution and

1:35 really surprise people on timelines.

Moon

· 5d

“@solana今年已在链上处理了来自代理的1500万笔交易”——@vibhu，@SolanaFndn首席产品官，在@Blockworks数字资产峰会上表示。

https://x.com/Grayscale/status/2036868972294136084?s=20

Moon

· 6d

与 @HyperliquidX 共同实现现实世界资产的链上交易。

“我们曾预言，总有一天现实世界资产将在链上交易——如今，这一愿景正在成为现实。现实世界资产正全天候进行交易。我们认为，在未来几年内，所有资产都将实现链上交易。”

$HYPE 今日亮相 @Blockworks 数字资产峰会。

https://x.com/Grayscale/status/2037196355781943330?s=20

Moon

· 6d

美国证券交易委员会（SEC）主席保罗·阿特金斯：🇺🇸“两年内，美国所有市场都将实现链上化。”

https://x.com/TrendingBitcoin/status/2036822413124714911?s=20

中文 English

0:00 代币化是利用链上智能合约或代币来

0:08 表示，例如，基础证券的想法。

0:12 所以代币化的证券仍然是证券，依法需遵守美国证券交易委员会（SEC）的规定。

0:18 法律如此规定。

0:19 但核心思想是，如果它是在区块链上的话，那么

0:24 其所在位置会更具透明度。

0:27 现在有一定的能力可以知道谁拥有什么，而公司

0:31 通常甚至不知道其股东在哪里

0:37 以及股东的居住地。

0:41 所以代币化的优势是，有可能不再是T+1，而是交易

0:49 日加一日的清算与结算。

0:54 甚至有可能现在是T0，具体取决于工具，我们还需考虑

1:00 净额结算以及其他相关因素，

1:04 针对某些工具而言。

1:06 但原则上，链上交付对价和收款

1:12 （DVP，RVP）在链上的实现

1:16 有望降低市场风险，使市场更加透明，

1:21 从而简化清算与结算过程。

1:25 因为清算与结算之间的差距，以及

1:32 交付与付款之间的差距，实际上才是系统风险的来源。

1:39 你觉得金融服务领域未来会走向何方？现今主要的

1:49 银行和券商是否正日益走向代币化？

1:49 绝对是。未来世界将会如此，你知道，

1:56 我说的可能不需要十年，甚至可能更短，可能几年内，

2:01 甚至更快。

2:02 所以我认为市场的所有这些现代化变化都是好的。

2:08 过去几年我们看到的问题是，SEC，和历史上不同，

2:14 它并非一直走在创新的前沿。

2:20 它总是稍微落后于市场，

2:22 当然如此。

2:25 但最近它几乎是在阻碍市场发展，因为

2:30 所有这些新创新正不断涌现。

2:36 但现在不一样了，我们正在积极拥抱这些创新。

2:40 我相信为了让美国在加密货币等领域保持领先，

2:45 我们必须拥抱它们。

2:47 近年来，全球只有两个国家

2:51 在努力使加密货币非法化，

2:55 那就是共产主义中国和通过SEC的美国。现在情况已变。

3:00 这是新时代的开始。

3:02 所以我们要拥抱这项新技术。

0:00 Tokenization is the idea of using the smart contracts or tokens on-chain to be

0:08 able to represent, say, underlying security.

0:12 So then that tokenized security is a security and would be subject to SEC rules

0:18 by law.

0:19 But the idea is that if it's on-chain, on a blockchain, then there's much more

0:24 transparency as to where it is.

0:27 Now there's a bit of a capacity as to who owns what and where the company

0:31 usually doesn't even know where its shareholders are

0:37 and where the shareholders reside.

0:41 So tokenization has the benefit of potentially having instead of T+1 now, trade

0:49 date, plus one for clearance and settlement.

0:54 The prospect of maybe T0 now, depending on the instrument and we have to think

1:00 about netting and all sorts of other things

1:04 with respect to some instruments.

1:06 But in principle, the idea of on-chain delivery versus payment and receipt

1:12 versus payment, DVP, RVP, on-chain

1:16 is a prospect of de-risking the markets, making them much more transparent and

1:21 then sure as far as clearance and settlement.

1:25 Because it's always that the gap between clearance and settlement and then

1:32 delivery and payment is the real introduces risk into the system.

1:39 What do you expect this is where financial services is going? Are the major

1:49 banks and the brokers out there today moving increasingly toward tokenization?

1:49 Oh, absolutely. And it's the way the world will be, you know, here in that, I

1:56 mean, maybe not even ten years, maybe even a lot less time, maybe a couple

2:01 years from now.

2:02 So I think that all of this modernization of the markets, I think, is good.

2:08 And the trouble that we've seen here over the past few years is that, you know,

2:14 the SEC, unlike historically, it never was necessarily at the vanguard of

2:20 pushing new innovations.

2:22 It was always, you know, a little bit behind the market, of course.

2:25 But here recently it's been almost standing a thwart the marketplace and as it

2:30 's, you know, as all these new innovations were coming about.

2:36 So that's no more. We're actually embracing it. And I believe that we need to

2:40 be embracing it to keep the United States at the forefront as far as

2:45 cryptocurrencies and whatnot.

2:47 There were only only two countries in the world here in the last few years that

2:51 were working to make cryptocurrencies illegal.

2:55 And that was Communist China and the U.S. through the SEC. So that's changed.

3:00 It's a new day now.

3:02 And so we want to embrace this new technology.