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Solana DePIN szn: Capitol Hill edition
Just in time for Crypto Week in D.C. 🇺🇸
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The future of capital formation is happening on Solana. $600M raised in 12 minutes. Zero bankers. All while Wall Street was closed. Let’s break down what just happened with Pump’s raise.
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Solana powers 24/7 internet capital markets ft. @nickducoff Over $415M in real world assets are tokenized on Solana, including funds from BlackRock, Apollo, and VanEck (source: @RWA_xyz) accelerate
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Real-world assets (RWAs) on Solana have exploded past $418M issued — up 140% YTD alone. From tokenized treasuries to Tesla shares, the best assets want to be on Solana, 24/7 🧵
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While Wall Street was closed, Solana stayed open for business 🔔 This week, pump raised $600M in 12 minutes, Bullish announced they’re moving their core infra to Solana, and CME SOL futures surpassed $4B volume. Here’s what you might’ve missed: - Solana continued humming along during high demand, with $448M raised onchain out of $600M total for @pumpdotfun’s token offering in just 12 minutes. - @Bullish, the crypto exchange with over $1.4T volume, announced they’ll migrating their core infrastructure to Solana-native stablecoins to power custody, payments, trading, and settlement - Minna Bank, a subsidiary of Fukuoka Financial Group, announced that they're working with @FireblocksHQ and TIS to study payments, tokenized real world assets, and settlement powered by Solana - SOL futures surpassed $4B traded on one of the world's largest regulated derivatives exchanges, @CMEGroup - @Crossmint launched a new wallet SDK built from scratch for stablecoins and fintech with Solana support baked in ft. sponsored gas, no vendor lock-in, and more - @GUNbyGUNZ launched on Solana, bridging to Solana’s high powered DeFi ecosystem - @blockworksres’s @0xSharples released a new launchpad dashboard covering revenue, token launches, volume, and users across launchpads like @pumpdotfun, @bonk_fun, @raydiumprotocol, @believeapp, @Moonshot, @MeteoraAG, and many more - Vibe coders rejoice: @solana_devs MCP server implementation went open source - @garden_finance’s trustless Bitcoin bridge launched Solana support, enabling fast BTC bridging to Solana - Total deposits on @KaminoFinance surpassed $4B, a huge milestone for Solana DeFi - @0xMert_ announced he’s launching another podcast by a bald founder, with Accelerate coming to a pod near you - @heliuslabs dropped a banger report on the state of Internet Capital Markets on Solana Probably missed a dozen more drops. Let us know what else shipped and have a beautiful week ahead 🫡
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solana is the silicon valley of the internet
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