Sam MacPherson from Phoenix Labs explains the wholesale credit model in terms any capital allocator understands.
Cost of capital: ~4.05% (borrow rate from Sky).
Deployment venues: DeFi lending, CeFi OTC (Anchorage Digital), CeDeFi prime brokerage (Spark Prime).
Revenue: net interest margin on everything above 4%.
Peak performance: $3B deployed, ~$80M/year.
"Any spread that we're able to generate within the entire ecosystem, Spark retains the earnings."

Twitter

Bitcoin at Block – the Bitcoin project of Block , the company founded by Twitter co-founder Jack Dorsey – has just announced the launch of a free Bitcoin Faucet, marking the return of the Bitcoin distribution model...

Jack Dorsey announces a $1 million project to give away free Bitcoin.

MicroStrategy founder Michael Saylor asserts that Bitcoin has won the global narrative war, specifically naming BIP- […]
The article, "Michael Saylor Warns BIP-110 is the Biggest Threat to Bitcoin; Four-Year Cycle is Dead, Institutional Capital is the Real Protagonist," was first published on BlockTempo, the most influential blockchain ABMedia media.

Michael Saylor warns that BIP-110 is the biggest threat to Bitcoin; the four-year cycle is dead, and institutional capital is the real protagonist.

Chainlink has released 17.875 million LINK tokens valued at approximately $165 million in its scheduled quarterly unlock, according to on-chain data.
Of the newly unlocked supply, 14.875 million LINK,...