Blockchain Capital

There’s a version of the world where the US uses stablecoins to advance its policy objectives in AI. A point made recently on @theallinpod was that AI companies are competing w/ the US gov for capital in the bond markets. This raises qs about where the gov will find marginal buyers for its debt and whether, as AI tests the boundaries of US power, it will feel compelled to intervene. Given the political developments of this past week, that possibility seems more likely. Stablecoins could offer a tech forward way for the US to generate demand for its debt while asserting influence over the AI economy. Tether is already one of the largest holders of US Treasuries. And the supply of stablecoins growing creates demand for US debt. Also, much of the demand for dollar stablecoins comes from outside the US, meaning pro stablecoin policy could channel foreign demand for dollars into US Treasuries. There may also be a longer term benefit, though this is way more speculative. Digitally native intelligence may gravitate toward digitally native money. As AI agents become economic participants, their choice of currency becomes a matter of geopolitical importance. By promoting dollar stablecoins, the US could position the dollar as the reserve currency of AI h/t @alekslarsen for seeding the idea

The end of the institutional advantage is here. The last decade democratized access to markets. Anyone can trade almost anything, but we've done very little to help people make better decisions. We’ve worked over the past year to change that and put intelligence in the hands of the people. Now introducing Tailor. Follow the 🧶…

Last night was special. Election days just never get old for us at Polymarket. Watching regular people experience the beauty of market based forecasts as the results come in. How practically useful it is. How simple it is to interpret. When it clicks, it clicks. It’s now routinely hours between when prediction markets call it versus the TV networks. The networks hold out until absolute certainty, and the suspense keeps it entertaining all night. No knock to them, but now there’s Polymarket, and many people are realizing they want to know what's happening in real time. I know the industry has gained a mixed rap for a variety of reasons, many of which are criticisms with real merit. But I think I speak for both myself and my peers when I say we got into this because we really love the idea of markets being able to place a price on the future (e.g. Democrats had a 92% chance to take the House on Polymarket), and how that can help people better understand what's likely to happen and make decisions accordingly. Our mission is to make sure we deliver on the promise of prediction markets, which was on full display last night. In the midst of so much noise around what we do, the American people get to see what Polymarket is really all about. Feels like one step closer to the dream. Onwards.