Founder of @DefiantNews. Author of The Infinite Machine. Ex Bloomberg News reporter in NYC, Madrid, BsAs. Chilena. Mamá.
New York, NY
Joined November 2011
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- Following3.9K
- Followers94.6K
- Likes23K
Camila Russo retweeted
Most teams wait for governance voting to officially close before celebrating an upgrade.
.@aztecnetwork just announced Alpha V6 approval with 100% support — even though the governance dashboard still shows voting open until Oct 24 and execution set for Oct 26 (spotted by @DefiantNews & @CamiRusso ).
Behind the timing quirk, V6 completely reshapes how the privacy L2 runs on @ethereum:
• Faster L1-to-L2 Bridging:
Ethereum-to-Aztec message lag drops from 24–108s down to 12–30s by streaming messages directly into blocks.
• Operator Economics Shift:
Total checkpoint rewards stay at 500 ethereum:0xa27ec0006e59f245217ff08cd52a7e8b169e62d2, but the sequencer cut jumps from 70% to 90% — slashing the prover reward pool from 150 to 50 ethereum:0xa27ec0006e59f245217ff08cd52a7e8b169e62d2 .
• Hard Contract Migration:
Moving to the new rollup requires recompiling app contracts with new addresses.
• 30-Day Sunset Buffer:
The payload reserves 1.8M ethereum:0xa27ec0006e59f245217ff08cd52a7e8b169e62d2 (at a reduced 50 ethereum:0xa27ec0006e59f245217ff08cd52a7e8b169e62d2/checkpoint rate across ~1,200 daily checkpoints) to keep V5 alive for ~30 days during migration.
• London Office Hours Rule:
Mainnet execution has a 2-day delay and can only trigger on UK weekdays between 8 a.m. and 5 p.m. London time.
Cutting prover emissions by 66% to boost sequencers is a bold tradeoff right before a full contract migration.
Will squeezing prover rewards hurt decentralization, or is 90% sequencer capture necessary for #Aztec V6 speed? #Ethereum #L2 #DeFi
Camila Russo retweeted
Nice breakdown here from @CamiRusso and @DefiantNews on the differences between Securitize Stocks and Robinhood’s Stock Tokens.
Only one is available across the world including right here in the USA. thedefiant.io/news/tradfi-an…
Starknet TVL just dropped from $158M to $42M after @extendedapp migrated to ARC
Right on the day governance approved research to become its own L1
a16z crypto name change is another sign crypto won in becoming the world's new financial rails
a narrow "crypto" focus doesn't make sense anymore because it's become financial infrastructure for any startup to the point where the "crypto" piece isn't the novelty. it's just there because it's what works. which was the goal from the beginning.
RT @amandacassatt: Hey @CamiRusso and I are trying something new, streaming in 3 minutes on the new JPM deposit coin, OCC rules, Kimchi, an…
putting aside the whole kimchi token timing (it was minted seconds before the ad went up) I see lots of people criticizing pump fun for the message in this ad which is basically,
"be the next person to get rich trading memecoins."
that's exactly what people go to memecoin launchpads for.
don't get me wrong, nothing is more cringe to me than aspiring to be some dude/girl who takes photos with cars and watches. but it's a bit delusional to think pump.fun users are there "for the community" or to make online friends. they're there for a chance at getting rich quick and that's what their ad is about.
I'd argue that pump.fun probably got it wrong thinking anyone outside of their small x bubble knows this guy. but the underlying message is the right one for their audience.
good breakdown of the kimchi / pumpfun thing here 👇
Pump.fun is facing backlash over pseudonymous trader Kimchi and it's not only about a marketing campaign.
Here's what onchain records say happened Tuesday night, ET:
7:00:15 pm — A 3-hr old Solana wallet creates the Kimchi coin and buys 79% of the supply for about $9,300.
Same second — That wallet routes every creator fee the coin will ever pay to one address. Pump.fun’s own docs say this can only be set once. It can’t be changed.
6 seconds later — @kimchi1x posts on X, his first post in five days (a picture of him standing next to a luxury car)
57 seconds later — 750 million tokens, 75% of the supply, are sent to the same address that's collecting fees.
78 seconds later — Pump.fun runs an ad telling normies to "be the next kimchi"
19 minutes later — Co-founder Alon Cohen announces the partnership.
54 minutes later — Pump.fun posts: “KIMCHI MADE $32,000,000 ON PUMPFUN 30 MINS AFTER JOINING.”
That $32 million is the paper value of tokens he has not sold. 75% of the supply sits in one wallet against $1.33 million of liquidity.
Every timestamp above comes from Solana block times and X post IDs.
Read more here:
thedefiant.io/news/tokens/ki…
Camila Russo retweeted
RAILWAY URGES ALL USERS TO ROTATE SECRETS
Railway said an intruder may have obtained decrypted secrets. Paused deployments prevent customers from updating apps with replacement credentials.
Read more here:
thedefiant.io/news/security/…
this polymarket article is such a weird non-story. throughout the entire article it's one bombshell-seeming revelation after another, only to be quickly backtracked one paragraph later.
- @shayne_coplan while paying himself no salary, used company money to pay for basic expenses, and then at his own initiative paid that money back
- is now in the process of scaling his company as it's become one of the few crypto businesses to break into the mainstream, by bringing senior hires etc.
- running a prediction market has been difficult from a regulatory perspective in the US (shocker)
surprised at the private jets and investor pressure clickbait headline from bloomberg
Camila Russo retweeted
It’s both, or all 3 or 4 aspects of crypto are important.
1) SoV matters because the world is unstable and there is a non zero chance that the local superpower falls apart. bitcoin matters
2) privacy matters because technology improvements increase the power of the state more than the individual
3) “blockchain” matters, because fully on chain transparent ledgers of everything that happens in the markets you are operating in reduce a bunch of risks, aka archegos/knight capital. Putting everything onchain is good for markets
4) smart contracts matter because 3 and 2 and 1 require a bunch of innovation that we can’t predict. Can’t build 1 and 2 without censorship resistance, pita to build 3 without programmability
Camila Russo retweeted
Former Mt. Gox CEO @MagicalTux opens a @Ledger Nano X on camera and shows how the spy implant goes in.
It snaps onto the screen’s test points, takes three solder joints and costs under $20 in parts.
Implants like this one are linked to the $90M+ drained from Ledger users.
Camila Russo retweeted
Is the Ledger wallet implant story over, or just beginning?
Mark Karpelès has been opening @Ledger wallets to find out — and there are signs someone is manufacturing spy hardware at scale.
A 1-on-1 with the former Mt. Gox CEO, the man who physically pried this case open.
@MagicalTux joins us today at 11am ET 👇
xitter.cf/i/broadcasts/1DxLdZPlY…
Images in France look identical to Chile's "estallido social" minus palestine flags since it was in 2019, pre 10/7
for what it's worth, after electing a far-left president that vowed to carry the movement forward, people voted against the constitution that administration backed (they wanted to re-write the constitution) and then society swung so against those policies they elected the most right-leaning president since the return to democracy
Camila Russo retweeted
🎙️ @Backpack had nearly 90% of its capital on FTX when it collapsed. The company was dead.
Now @armaniferrante is building a single globally regulated exchange, with one order book for crypto and stocks.
The full story with @CamiRusso 👇🏻
Camila Russo retweeted
Here's what each chain is to tokenized stocks
- @RobinhoodApp Chain + @base = brokerage
- @ethereum + @BNBCHAIN = warehouse
- @solana = bank
People are storing stock tokens on Ethereum and BNB, they're lending them out on Solana, and they're trading them on RH and Base.
Solana also makes the cut as a top stock token trading venue, but vol is much smaller relative to its supply, versus Base and RH.
Of course, Base and RH Chain are Ethereum L2s, so while almost no stock token activity is happening on Eth mainnet, it's still happening in Eth ecosystem.
Here are the numbers, (h/t @DefiLlama @GeckoTerminal)
There are $4.85B stock tokens onchain
-- 17% in Solana
-- 16% in Ethereum
-- 11% in BNB
-- 8% Avalanche (almost all Securitize’s own shares)
-- 4% RH Chain
The rest is:
- 24% ZKsync Era, but in a single token (Blockchain Capital’s BCAP venture fund, counted as “tokenized stock” by DefiLlama)
- 12% others
Of $4.85B
- 6.6% deployed in a DeFi protocol
- 1.5% posted as loan collateral ($75M)
Of the $75M in stock tokens used as collateral
- 80% in Solana
- 13% Base
- 5% Rh chain
- 0.7% Ethereum
- BNB almost none
24H trading vol for stock tokens ($230M 10/16)
- 45% Rh chain
- 26% Solana
- 18% Base
- 10% BNB
- 1% Ethereum
Interesting, look at the trading volume as a % of stock token supply on each chain:
- 127% Base
- 67% Rh
- 9% Solana
- 5.2% BNB
- 0.25% Ethereum
From this limited view, you can conclude:
-- chains are differentiating int heir stock token use cases
-- you can't really conclude that there's one chain dominating the sector
-- stock tokens are still tiny with $230M traded a day against $8.4B a day of onchain stock perps, two-thirds on Hyperliquid, where there are no stock tokens at all.
Here's what each chain is to tokenized stocks
- @RobinhoodApp Chain + @base = brokerage
- @ethereum + @BNBCHAIN = warehouse
- @solana = bank
People are storing stock tokens on Ethereum and BNB, they're lending them out on Solana, and they're trading them on RH and Base.
Solana also makes the cut as a top stock token trading venue, but vol is much smaller relative to its supply, versus Base and RH.
Of course, Base and RH Chain are Ethereum L2s, so while almost no stock token activity is happening on Eth mainnet, it's still happening in Eth ecosystem.
Here are the numbers, (h/t @DefiLlama @GeckoTerminal)
There are $4.85B stock tokens onchain
-- 17% in Solana
-- 16% in Ethereum
-- 11% in BNB
-- 8% Avalanche (almost all Securitize’s own shares)
-- 4% RH Chain
The rest is:
- 24% ZKsync Era, but in a single token (Blockchain Capital’s BCAP venture fund, counted as “tokenized stock” by DefiLlama)
- 12% others
Of $4.85B
- 6.6% deployed in a DeFi protocol
- 1.5% posted as loan collateral ($75M)
Of the $75M in stock tokens used as collateral
- 80% in Solana
- 13% Base
- 5% Rh chain
- 0.7% Ethereum
- BNB almost none
24H trading vol for stock tokens ($230M 10/16)
- 45% Rh chain
- 26% Solana
- 18% Base
- 10% BNB
- 1% Ethereum
Interesting, look at the trading volume as a % of stock token supply on each chain:
- 127% Base
- 67% Rh
- 9% Solana
- 5.2% BNB
- 0.25% Ethereum
From this limited view, you can conclude:
-- chains are differentiating int heir stock token use cases
-- you can't really conclude that there's one chain dominating the sector
-- stock tokens are still tiny with $230M traded a day against $8.4B a day of onchain stock perps, two-thirds on Hyperliquid, where there are no stock tokens at all.
people are noticing just how good our Converge newsletter is 📈
give it a read and subscribe
thedefiant.io/newsletter/con…
Happy Friday, explorers of the Crypto >< TradFi convergence!
Who will help us cross 20k?
thedefiant.io/newsletter/con…
leverage for rh chain and polymarket just launched. interesting if leverage demand can be sustained in long tail assets
congrats @kisaguncan :)
Amplifi is the leverage for everything app. If it trades onchain, you should be able to trade it with leverage. Today, Juiced becomes Amplifi Trade and offers leverage on @RobinhoodCrypto Chain tokens.
Predict: up to 10x on @Polymarket event contracts
Trade: up to 5x on launchpad tokens and long tail assets
Most of what trades onchain has no leverage today:
- 72% of the most traded DEX assets have no perp on Hyperliquid or Lighter. These assets account for ~45% of DEX volume.
- Polymarket will do around $80B volume this year with no margin at all.
So far: $5M traded, 425 traders, 1,317 markets live.
Predict. Trade. Amplified.
Camila Russo retweeted
Happy Friday, explorers of the Crypto >< TradFi convergence!
Who will help us cross 20k?
thedefiant.io/newsletter/con…
Camila Russo retweeted
🚨 Starknet is voting on whether to leave Ethereum.
A 7-day poll opened today.
Same week @StarkWareLtd shipped Shadow Accounts and launched private Polymarket trading.
Quantum exit plan, privacy stack, prediction markets, @EliBenSasson on all of it, live at 9am ET today.
Join us 👇
xitter.cf/i/broadcasts/1yxBePqbM…
