🇺🇸 general counsel @PlumeNetwork. posiwid. uber 4.9. ex @secgov @cftc @uniswap @chainalysis @ihsmarkit (nka @spglobal). personal views.
Washington, DC
- Tweets 39
- Following 412
- Followers 2,748
- Likes 14,964
🚨 The US Treasury selloff is accelerating:
The 30-year Treasury yield surged to 5.53%, its highest level since 2004, while the 10-year yield jumped above 5.22%, reaching its highest level since 2007.
The 2-year yield has surged more than 150 bps since the start of the US-Iran war and the 30-year yield is up more than 80 bps.
At the same time, markets now fully price 3 additional 25-bp Fed hikes over the next year, with significant hedging for a fourth, following the Fed's first rate increase since 2023.
Meanwhile, Treasury efforts to contain long-term borrowing costs are also struggling, with the government accepting just $4.08 billion of a $6 billion maximum in its latest 20- to 30-year buyback operation.
Globally, the average government bond yield has surged to just below 4%, its highest since 2007, as inflation concerns, heavy government borrowing and a surge in government and tech-company bond issuance pressure markets.
The bond selloff is entering a new phase.
1
11
502
Approx $220m of that is on @plumenetwork's Nest vault protocol.
2
12
82
5,562
Salman Banaei retweeted
Polls over the past week or two (mostly GREAT for Democrats, but Collins still ahead in Maine?!?) tell an internally consistent but slightly weird story: D gains are overwhelmingly concentrated in red states.
217
169
3,194
589,337
Salman Banaei retweeted
The new frontier of finance isn't on the horizon. It's here.
As our markets evolve at warp speed, the @CFTC is upgrading its rules and regulations to prepare for the era of onchain systems, mass tokenization, 24/7 trading, and agentic finance.
69
573
2,293
294,630
Timely speech from @HesterPeirce given to @SIFMA today:
"Today society is at a crossroads. Down one path lies the status quo: more data collection, more intermediary surveillance, more “know your customer” requirements that turn our financial rails into a panopticon. Down the other path lies an opportunity to use new technologies to improve our ability to catch criminals while collecting less personal information than ever before, and monitoring more sparingly to protect Americans’ privacy."
Commissioner Hester M. Peirce, Looking for Change in Haystacks: Remarks before SIFMA’s Digital Assets Conference: sec.gov/newsroom/speeches-st…
3
12
51
4,984
Salman Banaei retweeted
Glad to see the SEC and US Treasury engaging with vault providers like us at @plumenetwork - confident they’ll come up with a positive framework for the future
DC really starting to feel like a second home with @banamlas @ThatAlexPalmer
In July, SEC Commissioner Peirce invited innovators and entrepreneurs bringing asset management onchain through vault protocols to help write new rules and guidance for vault protocols.
As the developer of the Nest protocol powering Plume Vaults, we took the opportunity to provide advice to the Commission as it considers policymaking regarding onchain vaults.
We believe vaults will play a critical role in open finance, and the SEC can unlock a new era of onchain capital formation with the right regulatory architecture.
We thank the SEC for the opportunity to provide input at our meeting on September 22.
Our submission is linked here: sec.gov/files/ctf-written-in…
19
42
171
13,528
Salman Banaei retweeted
Real-world assets meet onchain rules.
Two legal worlds, one product.
@banamlas of @plumenetwork on the regulatory tightrope of bringing traditional assets onchain.
Compliance isn't the obstacle to RWAs. It's the unlock.
Brought to you by @wrappedxyz and @realmotioninc
10
18
87
12,686
Salman Banaei retweeted
hearing banks stopping all compute lending
credit crunch is beginning
245
196
2,365
932,578
Salman Banaei retweeted
its still so underrated the degree to which our intelligence supercycle was as much reliant on innovations in capital formation as it was innovations in the technology itself.
europe is losing not only because they can't built it, but primarily because they can't finance it
30
93
1,146
150,182
Prediction: @SECGov "Innovation exemption" will not lead to broad adoption. Too much KYC for DeFi, too limited for TradFi (5 yr sunset + volume caps). As I've said before, register the onchain trading venues instead - like @CFTCGov is doing.
The @SECGov Innovation Exemption (IE) is a step in the right direction but many issues remain for those of us interested in bringing capital markets onchain. Four initial reactions. 1/10
5
5
38
4,367
The @SECGov Innovation Exemption (IE) is a step in the right direction but many issues remain for those of us interested in bringing capital markets onchain. Four initial reactions. 1/10
🚨 TODAY: The SEC issued an order granting temporary, conditional exemptive relief to Tokenized Securities Venues from the definition of “exchange” in the Exchange Act to trade tokenized NMS stock using innovative permissioned automated market makers and liquidity pools.
2
10
48
10,807
4. The relief from regulated "dealer" definition for AMM liquidity providers (LPs) only reaches to TSVs - SEC will have to act separately to clarify to extend this relief LPs on regulated ATS platforms that use an AMM protocol. 9/n
1
6
340