Trace Finance is a @money2020 Money Awards finalist in two categories: Payments & Commerce and Infrastructure. Regulated rails for stablecoins, built for emerging markets. Winners announced live in Las Vegas on October 18. Proud of this team. money2020.com/awards/finalis…

NVIDIA plans to finance its continued AI dominance with what looks a lot like GPU-backed loans, just called by another name. Compute access can scale three ways: financialized, decentralized, or cloud-like. NVIDIA is betting on financialized but consolidated. They want to become the central bank of compute, backstopping up to 25% of residual value themselves. You only do that when there's no neutral secondary market to set the price, and that missing market is the whole opportunity. A more open version could emerge instead: an exchange and index that independent players build on. But that needs open supply. If the biggest capacity stays locked in private deals with named buyers, there's no float to trade, which is why bringing idle, long-tail compute online matters so much. It's one reason we backed @Pluralis. To me, that open market is more interesting than a private, structured-finance market run by NVIDIA and a few megafunds. It's still a tall task. Power and freight show you can trade a perishable flow off a depreciating asset, but compute is harder since the spec keeps obsoleting and there's no secondary market for the box - that's a problem worth solving.

.@TIME named @coinfund one of America's Top Venture Capital Firms of 2026. We believe this is a reflection of the exceptional founders and companies we've had the privilege of partnering with over the years.

foreskin discourse. no further questions. @factmachine

Congrats to our portfolio company @dakota_xyz and @ryanbozarth on filing for a national trust bank charter with the OCC Most stablecoin payments companies and fintechs rent a bank's charter and inherit its limits Dakota is building a crypto native stack, custody, issuance, compliance as code, on top of a chartered banking layer instead of bolted onto one. That's a different moat

annual reminder to never be the main character. leverage is just the fastest way to get nominated.

Not every business needs a token The next cycle won’t be about creating more tokens, but about figuring out which ones should exist in the first place Joined @RealAllinCrypto last week to discuss where @coinfund is investing, what we're avoiding, and where onchain growth comes next (a place most people aren't looking yet)

CoinFund is leading Trace Finance's $32M Series A. In order for stablecoins to service LatAM cross-border payments the tech need connectivity to the real world. Trace is the orchestration layer for the regulated banking sector. $10bn+ processed. Compliant with Brazil's new Resolution 521/561. @bebrites and team are ready for the next phase of growth. Full thesis 👇

Today we're releasing Agora: the first ever pretraining stack that allows non-collocated consumer GPUs to be competitive with centralized clusters Agora is 15x faster than Megatron-LM in this setting and is only 1.5x less efficient in terms of tokens per unit compute than TorchTitan on H100s, despite running on devices that have no NVLink or InfiniBand support.