Jimmy retweeted
In 2021, Robinhood routed customer orders to wholesalers including Citadel Securities, earning payment for order flow while those firms executed trades off-exchange.
Digitization did not remove intermediaries or the need for balance sheet. It changed who provided them and where.
Axis CEO @bidorder on why tokenization could replay that shift across an even more fragmented market, via @therollupco.
Jimmy retweeted
Origin is unlocked.
Coordinates Season 1 is live. The vault now operates as the Ecosystem Vault, redemption is open, and USDx can move into eligible DeFi positions across @CurveFinance and @pendle_fi.
Read what changes and what depositors can do next.
new line just dropped
Introducing Axis Prime: Liquidity and execution for modern financial platforms.
Institutional pricing. Cross-asset settlement. Routing intelligence.
Axis Prime executed its first 6-figure OTC trade for a leading global exchange.
axis.to/prime
Jimmy retweeted
🎙️ Co-founder of @AxisFDN, @JimmyXKF shares one of the biggest misconceptions about institutional crypto adoption during the bear market.
"The biggest misconception is that there isn't a steady wave of inflows. We're actually seeing quite a healthy amount of capital coming into the space."
#CHAINREACTION
Jimmy retweeted
.@AxisFDN co-founder @JimmyXKF shares one of the biggest misconceptions about institutional crypto adoption during the bear market.
"The biggest misconception is that there isn't a steady wave of inflows. We're actually seeing quite a healthy amount of capital coming into the space."
#CHAINREACTION
Jimmy retweeted
🫡Solid piece. Perhaps for the first time in modern finance, we are beginning to change the nature of asset classes themselves.
Consider a local money changer. two shops may quote different prices for the same ccy because they carry different inventories, serve different customer flows, and face different replenishment and settlement costs. The reference price may be global, but executable liquidity remains local. The same fragmentation exists across digital assets, FX, equities and commodities… at scale.
Dislocations will persist because markets do not operate on a single balance sheet or pool of liquidity. Better technology may compress spreads, but it will not eliminate the structural reasons those spreads exist.
That is why we are building Axis.
Axis is capital markets infrastructure designed to connect fragmented liquidity, make assets productive, and give fintech operators access to cross-asset liquidity without forcing each of them to warehouse inventory or fund its own balance sheet.
We are already seeing rapid adoption and deeper integration of tokenized assets (starting with stablecoins obviously) across the financial system. As these markets scale, the ability to route capital and liquidity across regions, venues, and asset classes will become an increasingly critical form of infrastructure.
Yield is a byproduct.
Market efficiency is the product.
Tokenized stocks could be the next big RWA narrative.
But there’s one issue we need to talk about: liquidity fragmentation.
The broader RWA market has been pretty flat lately, while tokenized stocks are one of the few sectors still growing fast.
The momentum is clearly there. But the same stock can now be tokenized through different structures and across different platforms, splitting liquidity both vertically and horizontally.
1. Vertical fragmentation: Stocks can be tokenized in a bunch of different ways. That means the legal structure, investor rights, and eligible buyers can all vary, making these tokens difficult to move between or combine with one another.
2. Horizontal fragmentation: Even when the same stock is tokenized using the same structure, liquidity can still get split across different platforms.
That said, there’s also a more positive way to look at it.
Maybe tokenized stocks aren’t simply fragmenting existing liquidity. Maybe they’re bringing in new liquidity from investors who previously couldn’t easily access US stocks, with fragmentation showing up as a side effect of better access.
Either way, the problem is real.
A couple of possible outcomes imo:
- Orchestration or clearing platforms emerge, similar to what we’re seeing with stablecoins (btw i don't think so).
- The market consolidates around a small number of dominant platforms as scale and network effects kick in.
👇
The real shift isn’t using AI for another code review. It’s embedding adversarial intelligence throughout the development process.
At @AxisFDN, contract changes pass through specialized security harnesses where different models probe different failure modes. Findings have to be reproduced. Verified findings become regression tests.
Security shouldn’t be a checkpoint at the end. It should compound with every change.
It's been two months since @maraoz made this DeFi doom call. Since then, GLM 5.2, Fable, and GPT 5.6 have all shipped and are all being used in the wild by attackers.
The data is in. It's time to call it: the DeFi "hackpocalypse" was a false alarm.
It's more than half-way through the year and annualized $ hacked in DeFi in 2026 is lower than 2025 year, and well within historical range.
The deeper story is that while the NUMBER of hacks has spiked, the SIZE of hacks fell even more. This means attackers are picking off small protocols and abandonware, the ones that can't afford to AI-harden their code. But large protocols have done the AI-hardening, and they're actually pretty secure now.
Lesson: the average dollar in DeFi is as safe as it was a year ago. If you keep your money in large protocols that can afford to harden themselves, you'll likely be fine.
On-chain compliance is such a smart response to no-KYC FUD
[ ZOOMER ]
HYPERLIQUID POLICY CENTRE FILE RESPONSE TO CFTC'S REQUEST TO IDENTIFY FUTURE REGULATION, ASKING TO FORMALLY RECOGNISE THAT ONCHAIN PROTOCOLS DO NOT REQUIRE REGISTRATION, THAT NON-CUSTODIAL WALLETS DO NOT PERFORM THE ROLE OF FINANCIAL INTERMEDIARIES, AND TO GIVE A CLEAR PATH TO RUN REGULATION FUNCTIONS ONCHAIN: BLOG
Jimmy retweeted
Useful discovery of the day: it seems that frontier models are trained enough on my couple decades of open source work that I can just say "write a commit message in mitchellh style" without any further skills and it does pretty much the right thing. 😜
Jimmy retweeted
I'm having a lot success using Fable xhigh as a planner/architect, using GPT 5.5 xhigh (subscription) as a coder, then Fable xhigh again as a judge. At API pricing, planning+judge costs are in the ~few dollar range compared to typical $50+ full round trips.
I've seen some others using dumber/cheaper coders, but GPT 5.5 even at xhigh compared to Fable 5 is very cheap and very fast. And GPT 5.5 is just... really good.
Still been less than 24hrs since the re-release so the longevity of this approach is unclear, but its been working really well.