The Plasma testnet is now live. Built from the ground up for global stablecoin payments, it includes our core components: the PlasmaBFT consensus and our EVM execution layer designed for throughput, speed, and scale. Trillions.

WHAT IT MEANS TO MISS YOUR INFLATION TARGET In the newsletter, I wrote more about the attacks on central bank independence, but also something approaching my overall theory of inflation, and how inflation is both figuratively *and literally* similar to automotive accidents.

Worth noting here that $RBLX earns about 40% of its revenue from overseas and doesn’t hedge its currency exposure 👀 they are structurally short USD

Roblox is seeing new games hit 1M CCUs at a much higher frequency these days Fortnite hovers around 1.2M CCUs, for perspective Pretty much all of these games are made by small teams of talented young devs. No publisher on earth can make so many hit games on such low budgets

The reception from projects and MMs has been unbelievable. 12 MMs have already integrated Coinwatch Track, with more on the way. The MMs below are pioneering a new standard of radical transparency - give them their flowers: Amber Amber Group Ampersan ampersan Auros

How many 401k, crypto, and meme stock millionaires have been created in the past 3 months? At what point do they start spending enough for companies to start raising prices? At what inflation level does the Fed abandon its expected cuts or even consider a new round of hikes?

*WSJ: DOJ TOLD TRUMP HIS NAME IS IN EPSTEIN FILES IN MAY

The Plasma public sale has ended with $373M+ committed to purchasing XPL, representing more than 7x in oversubscription. Plasma mainnet beta will launch with $1B in stablecoin TVL, the fastest chain to reach this number in history. We're grateful for your support and trust.

$RBLX

The primary driver of the public’s mistrust of economic data is the government’s longstanding practice of timely, transparent updates to its work. Lesson in that.

The most infuriating part is this: 99.9% of people who bet massive sums of money all agreed that the BLS numbers were always calculated in good faith But the people who occasionally day-trade $500 of 0DTE OPEN calls were convinced that they weren’t And somehow, the second

“Meanwhile the models we have remain, at their core, next-token roulette wheels. Chain enough spins together and tiny error probabilities compound into existential glitches.” Paging Taelin and Higher Order Company

Big labs are getting comfortable, pushing small improvements, giving excuses to obvious limitations, and laughing at alternatives. Meanwhile, a silent revolution is taking place, by some who cared enough to measure the shortcomings of these systems, and now seek to address them

The new global financial system relies on a deep and robust yield economy. To reach that scale, distribution is everything. That’s why we are excited to announce our partnership with @Binance Earn to bring the first fully onchain yield product to hundreds of millions worldwide.

Roblox has broken the record of most concurrent users on a platform, ever, with a peak of 47,296,412 players. This beats the previous record held by Steam, with them having 41,239,880 players on their platform.

This is a good point but I think the bigger issue is playing favorites - why no deal for AMD, for example? Why not Google with its TPUs? I’ve read enough history to feel confident that markets in America have never been truly free, but this feels more explicitly interventionist

They also don't have politicians incentivized to boost the stock market in order to win re-election.

WHAT FED INDEPENDENCE ACTUALLY MEANS In today's newsletter, I wrote how I think of the concept of "Fed independence", what it actually entails, what could change, and its constitutional significance. And why Trump's attempt to fire Lisa Cook isn't even really the story.

This Sunday please join me for the first Ambient Q&A! All questions welcome. x.com/i/spaces/1yNGa…

There should be a rule that whenever someone posts McDonald’s prices from the 80s as inflation ragebait, they also need to post laptop prices from the 80s $7k (in 1989!!) for a 40mb hard drive. $8.5k if you want a modem. $11k for the top of the line model 🤯