With the admin continuing its retreat on tariffs, that will bring the market focus back to the strong idiosyncratic setup, which is extremely positive - especially for the collapsing barrier between CeFi/Defi cap markets and stables - as a reminder we've recently had:

- Robinhood launching their own settlement layer on-chain

- Stripe launching USD stablecoin accounts globally

- Kraken and Bybit launching equities trading

- Meta doing a stablecoin

- @MorphoLabs launching their Apollo/Securitize/Gauntlet levered ACRED strategy, as well passing over $200mm borrowed through Coinbase smart wallet since inception 3 months ago

- Coming launch of @convergeonchain with @ethena_labs and @Securitize to bring a tailor settlement layer that will bring RWA/CeFi/DeFi venues together

- @OstiumLabs explosion the past month on perps for commodities / indices / and now mag7 equities with over $6bn of volume since liberation day

- @superstatefunds launching primary issuance for equities on Solana

- Stablecoin mentions in earnings calls skyrocketing (Marqeta, SoFi, Visa, BNY Mellon, ACI, Mastercard and we aren't over)

And i'm sure i've missed some. But the velocity of these stories is only accelerating. The collapsing of defi/cefi with stablecoins at the center is THE story of the year in crypto. And there's never been a better time to invest or build at this intersection.