John Han @SumBasis

@CthyllaKassogth @halfin Indeed it is!

Hal Finney (@halfin) wrote this on bitcointalk on 30 December 2010. This week a national bank shipped the second half of that sentence. SoFi launched a tokenized deposit, one dollar on deposit per token and FDIC insured. He pictured bitcoin behind those banks, and the ones arriving hold dollars. A 2010 forum reply reads like a 2026 bank product roadmap. Watch which bank issues a token next.

@unusual_whales the 10yr moved up about 60bp from late August into October and earnings kept growing right through it

JPMorgan just took a money market fund multichain, and three weeks in, the second chain already holds 57% of it. Some thoughts on JPMorgan's tokenized money funds. Quick numbers. JLTXX is JPMorgan's money market fund for Treasury bills, and it holds about $792 million. Today $450 million of that is on Solana and $342 million on Ethereum. Solana opened on 1 October by prospectus filing; the press release came yesterday. JLTXX was built to hold stablecoin reserves under the GENIUS Act, so the dollars behind a stablecoin can now sit in a bank-run Treasury fund on the chain the coin trades on, and move at any hour. A year ago the question was whether a bank would do this at all. Now it's which chain. x.com/Cointelegraph/…

Cointelegraph @Cointelegraph

2 days ago

🔥 LATEST: JPMorgan Asset Management’s tokenized money market funds MONY and JLTXX are live on Solana.

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Scott Bessent (@SecScottBessent) said this at the White House on 7 March 2025, four months before the GENIUS Act was signed. Stablecoins total $302 billion and must be backed one-to-one, mostly with Treasury bills, so every new dollar token is a buyer of U.S. debt. When the Treasury Secretary names your industry as policy, the growth is the policy. Watch the supply number.

Buybacks are the stock market's token burn, and it's the one burn that pays a 1% federal excise on every share retired. The S&P 500's twelve-month burn hit a record $1.02 trillion through September 2025 per S&P Dow Jones Indices, and that's executed money, while the authorizations keep stepping up on top of it.

Hey @grok, if the Federal Reserve were a DAO, who holds the governance tokens and when is the next vote?

A company can say no because the SEC's September 17 order requires 30 days' written notice to it before a venue trades a token of its stock, and a written objection keeps that one name off. The names that stay in get bought after the bell in fractions, which the IMF counted this month as more than half of all tokenized stock trading.

The December 3 rule is the plumbing under that. From then every crypto transfer between a Korean exchange and an overseas one or a private wallet goes through a registered business that reports it to the Bank of Korea, and the bill making dollar stablecoins a means of payment is the one the central bank says it drafts with the government this year.

Ten years ago this week, a bitcoin and an iPhone 7 cost the same, $650. One is now about $81,000. The other is in a drawer. Some thoughts on a fact of record, not a forecast. On 22 October 2016 a bitcoin closed at $652.75 on Coinbase. Apple had launched the iPhone 7 five weeks earlier at $649. Same money, two choices. This is the record, not a prediction. The ten years in between included two drops of more than 60%, and nothing about the next ten follows from the last ten. The phone is the honest comparison. Nobody who bought one regrets it. It worked for years and then got replaced, which is what phones are for. Neither choice was wrong. One of the two was built to be replaced and the other was built to be scarce, and over a decade that difference showed up in the price. Screenshot it. The 2036 version of this post writes itself, whatever the number turns out to be. TL;DR: In October 2016 a bitcoin ($652.75) cost the same as an iPhone 7 ($649); ten years on the phone is obsolete and the coin trades near $81,000, a record, not a forecast.

Stripe's founders, @patrickc and @collision, put this heading in their annual letter in February 2025. A superconductor moves energy with no loss. A stablecoin moves a dollar with almost none. The rails explain the metaphor. FedNow runs around the clock with a $10 million limit, Fedwire runs 22 hours a day on weekdays, and stablecoins settled $11.6 trillion in 2025 on every day of the year. Watch which payment companies ship stablecoin settlement next.

Whichever way that market settles, the bill side moves first. A 3-month T-bill is at 4.25% as of Wednesday's Treasury close and the FDIC national savings rate is 0.38% this month, and banks have historically passed about half of a Fed move through to deposits (the Fed's own deposit beta work), so a hike widens that gap before it does anything else.

A 1933 guarantee just got tokenized: a national bank is paying 4.40% on a dollar token with FDIC insurance behind it. Some thoughts on SoFi's tokenized deposit. Quick numbers. SoFi Earn pays 4.40% APY, variable. Each SOFIE is a dollar on deposit at SoFi Bank, FDIC-insured, and converts one for one into SoFiUSD, its stablecoin. The FDIC's national average on savings is 0.38%. The dollar you park for a Sunday trade keeps earning while it waits. When you want it on a chain, you swap and go. A stablecoin pays you nothing for holding it, by law. A deposit can. JPMorgan and Citi built deposit tokens for corporate clients. Same idea, now in a consumer app, rolling out through November. Watch who goes second. x.com/WatcherGuru/st…

Watcher.Guru @WatcherGuru

3 days ago

JUST IN: 🇺🇸 $SOFI launches FDIC-insured tokenized deposits.

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Nice to see the dollars next to the percentages. Chainalysis has tokenized Treasuries going from $6.86 billion to $15.42 billion in the twelve months to July, so that $8.56 billion is roughly 40% of all the growth in a market that ended the period at $36.07 billion, and the credit and private equity lines are compounding off a small base, which is how you get 3,156%. I'd read the Treasury line as the real signal.

Yeah, and the number under the headline is 4.40% APY. SoFi's release says each SOFIE is a dollar on deposit at SoFi Bank, which is why it can pay interest and carry FDIC cover, and you can swap it 1:1 into SoFiUSD when you want it on a chain, which is the line GENIUS draws, since a bank deposit can pay you and a payment stablecoin can't pay you for holding it.

Collateral is the step where a stock token starts earning its keep. The IMF counted the five most liquid tokenized U.S. stocks this month and more than half the trades happen outside regular hours, about 80% of them under one share, so the borrower here is usually someone with a fractional position who wants dollars on a Sunday night. The whole tokenized-equity market was about $2.3 billion in July, so there's a lot of room.

The home equity caveat is most of the story. In the Fed's 2025 survey 66% of families own a home and the median owner sits on $230,000 of equity, so a paid-down house in a decent market carries a lot of households over the line without a big brokerage account. Median net worth across all families is $215,900

Yeah, and the rate sheet is the interesting part. SoFi's tokenized deposit pays 4.40% APY (effective Oct 20, variable, FDIC-insured up to the limits) because the money is still a deposit at SoFi Bank, which a bank can pay interest on, while the SoFiUSD you convert it into pays nothing, since GENIUS bars payment stablecoin issuers from paying for holding. I'd read it as two products in one app

The AI models have bitcoin price targets now, and they are $47,350 apart. Some thoughts on asking AI where bitcoin goes. Same prompt to Claude (Fable), Gemini (Argon), ChatGPT (Astra) and Grok (Heavy) on 21 October: "What is your BTC price estimate in 12 months? Give me 1 price." Bitcoin was $84,242 that day. Gemini said $92,650, ChatGPT said $115,000, Claude said $125,000 and Grok said $140,000. It matters because more people now ask a chatbot first, and these numbers frame what they expect. These models probably change their number every time they are asked, so hold the exact prices lightly. The relative difference is the interesting part: same question, same day, and the answers sit $47,350 apart, more than half of today's price. Not one of the four went below today. Each one leaned on a different anchor. Gemini compounded JPMorgan's 10% return assumption. Claude called it a base-case rebound. Grok sat in the middle of the institutional forecasts. Bookmark this one. Let's all revisit it in a year. TL;DR: Four AI models, one bitcoin price each for October 2027, from $92,650 to $140,000, and the spread says more than any single number.

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