All-In

Jeremy Allaire × George Kurtz × Adam Goldstein × Chase Lochmiller

Circle sees regulated USDC becoming an internet-scale financial network addressing roughly $120 trillion in legal electronic money, with lower rates potentially accelerating adoption even as reserve yield declines.CrowdStrike says AI is compressing attack timelines and enabling prompt-only malware, driving its shift from endpoint detection and response to AIDR as employees gain roughly 90 agents each.Archer expects visible US eVTOL demonstrations in summer 2026 across five trial cities, with Los Angeles and its Anduril defense derivative offering catalysts beyond eventual passenger certification.

Brian Armstrong × Andrew Feldman × Jake Loosararian

Coinbase says U.S. crypto has shifted from regulatory defense to institutional deployment, with five of the top 20 global banks using its infrastructure.Under the GENIUS Act, regulated stablecoins hold 100% reserves in short-term Treasuries, while Coinbase can pass customers “about 100% of the economics” through rewards.B2B cross-border settlement is already driving strong Coinbase Business demand, while trade groups Armstrong believes are trying to revisit the law remain a risk to monitor.

Anatoly Yakovenko

GENIUS Act implementation could unlock $1 trillion–$10 trillion of stablecoins on public chains, potentially making the internet the largest holder of U.S.Treasuries within five years.Solana’s proposed edge is execution speed—roughly 1,000 times faster than ETH by Yakovenko’s estimate—while tokenized securities, uncorrelated real-world assets, and Bitcoin’s quantum migration remain regulation- and infrastructure-dependent catalysts.

Vlad Tenev × Jason Calacanis

Robinhood’s tokenization thesis prioritizes access to inaccessible, illiquid assets over 24/7 trading, using stablecoin-like reserves and one-to-one minting to offer exposure to assets including OpenAI and SpaceX across 31 countries.Public stocks provide the cleaner regulatory starting point, while private shares offer greater long-term significance but raise issuer-consent and disclosure issues; Robinhood is also expanding its integrated financial platform as Harmonic develops formally verified mathematical reasoning and software.

Chamath Palihapitiya × Jason Calacanis × David Sacks × David Friedberg × Gavin Baker × Bo Hines × Bill Hagerty

A Powell firing could damage Fed independence while refinancing $36 trillion of debt near the 5% 30-year yield pushes interest expense toward $2 trillion.GENIUS makes regulated dollar stablecoins payment infrastructure and a potential Treasury-demand catalyst, while CLARITY remains the next legislative milestone.

Chamath Palihapitiya × Jason Calacanis × David Friedberg × John Collison × Patrick Collison

Stripe’s stablecoin strategy targets cross-border dollar access before U.S. checkout payments, with Bridge and rails such as Ethereum L2s and Solana extending its software-orchestrated money movement.Its profitable private model compounds across payments, billing, and treasury while a trusted transaction network could reduce fraud and fees, though Visa and Mastercard trade-offs remain.