Jacob Wittman
@jakewittman
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Instead of innovating, the American Bankers Association wants to relitigate settled fact. Congress was clear that prohibition of yield should only apply to the permitted stablecoin issuers. We must support innovation and continue to stand our ground here.
Just released - ABA and 52 state banking associations urge @USTreasury to uphold GENIUS Act's ban on stablecoin interest:
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🆙👥 The outstanding supply of USDT on @Plasma reaches ~$4.8 billion, spread out across ~46k holders.
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Permissioned DeFi is not DeFi.
1/ I've never wavered from the position that DeFi must be permissionless. There can't be "two" DeFis - one "regulated" (gated) & one "unregulated". The beauty of DeFi is its openness, automaticity & intermediary-less-ness. Policy goals must be achieved differently for DeFi.
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As we continue to identify important markets around the world, @projectadam_ and I will explore additional licensing opportunities. This is just the start. Plasma One, everywhere.
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FUTURES TRADERS: Get 40% off all evals, no activation fees, end-of-day drawdown in our live-market PRO+ accounts…and still daily PRO payouts!
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Long term, Plasma One will be a globally distributed financial application built on our own regulated rails and we are starting in Europe. First, we’re opening a small Amsterdam office and will be seeking EMI authorization in the Netherlands for a simple reason: it’s the
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We are building Plasma One to be a neobank available in every pocket around the world. This starts by owning, not renting, the underlying regulatory stack, allowing us to unlock the most unparalleled user experience. https://t.co/kYJxNHcutG
coindesk.com
The firm behind the fast-growing stablecoin blockchain also plans to obtain MiCA and EMI licenses as part of its expansion in Europe.
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Taking a break from my usual tweets about crypto to ask why Dan Wilson didn’t bring Munoz in there? What a shame.
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Thank you to @RSSH273, @brendanpmalone and @CryptoTaxGuyETH for the support. You can view our letter to the Treasury below. https://t.co/Q0FTaiufSD Trillions🕊️
app.box.com
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We believe that stablecoins represent the most consequential upgrade to the dollar since its inception. As such, the rules and regulations around these novel financial tools must be clear, come from first principles, concise, and provide developers with protections that allow
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Balancer DeFi hack (Nov 3): $120M+ drained. 4 audit firms, 10+ audits on v2—yet a Vault‑level bug slipped through. Audits ≠secure; they’re only a second set of eyes, not a guarantee issues are gone. Build for failure: invariants, telemetry, circuit breakers.
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Second, we advocate for clarity around the taxation of stablecoins. We ask Treasury to treat stablecoins as cash under the Internal Revenue Code. Stablecoins are currently treated as property, which causes gain or loss recognition on ordinary consumer transactions under section
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In our letter, we ask the Treasury to afford builders with additional protections that are appropriate and ensure innovation happens within American borders without fear of prosecution by rogue agencies in the future. The digital asset ecosystem has operated from a place of fear
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Today, Plasma submitted a letter in response to the Treasury’s advance notice of proposed rulemaking regarding implementation of the GENIUS Act. The GENIUS Act was a historic first step in cementing stablecoins as a global financial tool, however, there's still work to be done.
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Plasma is expanding its team, hiring the best, most elite, builders and operators in the industry. We are at the earliest stages of turning our vision into a chain the world uses daily. We shipped the first stablecoin chain, and now we are focused on scaling the network and
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To quote Dave from 30 years ago: "The Mariners are going to play for the American League championship."
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The following statement is attributed to @BlockchainAssn CEO @SKMersinger following the Senate Democrats’ market structure proposal on DeFi:
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This is a step in the right direction, but it’s not enough. Holding crypto should not be a permissive scheme, and any restriction on how much a person can hold is a clear violation of personal sovereignty and property rights. We need to continue to be loud on this one.
The Bank of England plans to grant exemptions to proposed limits on stablecoin holdings by businesses, indicating a softening stance toward cryptoassets amid growing competition from the US
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While Plasma One is our own flagship neobank, we’re actively looking to onboard more teams building neobanks on Plasma. We don’t view other neobanks as competition. The world is far too large and diverse for a single product to win it all. Just look at how Revolut, Monzo, and
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Feb. 26, 2026, Trump will bribe Israel to falsely declare Trump "messiah". The unholy price Trump pays: a treaty allowing Israel to build "Trump's Temple" on Temple Mount. The title "Messiah" is not for sale. It belongs only to Jesus Christ, who died for OUR sins and rose again!
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1/ The GENIUS Act is under attack from Big Banks, who want to unravel the law to better protect their businesses, robbing everyday consumers of innovative new products and services. đź§µ
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