Partner @lloy_law Executive Committee @mama_global Remember, I may be an attorney, but I'm not *your* attorney. Tweets are not legal advice. Views are my own.
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Joined August 2015
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Highlighting Regulatory Issues with Forward Contracts on Crypto Assets by Mike Frisch & Alex Lindgren, contributions from Karl Lindgren link.medium.com/QOG9JcVzqNb
Alex Lindgren retweeted
Can attest to this as someone who has built lending in emerging markets.
There are hard unit economics of scale and verifiability that makes a “Maria silva” unviable to lend to in the old world order.
What opacity is proposing, is an orders of magnitude upgrade to the “poverty of verifiability” that can make capital markets work for the rest of the world in a way that was never possible before.
Excited to see a lot of unsexy work fructify for the team over @OpacityLabs ❤️
Bingo. I'll have a lot more to say about this, but for now, I'll just say that contained in these words are solutions to everything from growing wealth inequality through political polarization to a range of national security threats - if you have the eyes to see.
Alex Lindgren retweeted
MAYBE I WAS WRONG ABOUT BLOCKCHAIN TECHNOLOGY
I wrote about how I always used to make fun of the guys who said things like "Bitcoin is speculative, but the underlying blockchain technology is interesting." And now I think maybe they kinda had a point.
Alex Lindgren retweeted
Given those two facts, as well as the way congressional oversight of the executive branch has been neutered via court precedent (and that the Trump Admin enjoys fighting with Dems in Congress), I expect oversight to largely target the private sector next year and with antipathy.
Alex Lindgren retweeted
Issuers lost their cap tables when we immobilized paper at DTC to solve the 1970s paper crisis. That crisis is long over. There is no good reason investors in 2026 should still be able to hide from the company whose equity they own.
Tokenization fixes this if the token is the share on the issuer’s register and not just a wrapper.
One theory is that nobody should be allowed to create a share of stock except the company whose stock it is. (via @opinion) bloomberg.com/opinion/newsle…
Alex Lindgren retweeted
The enormous driver’s license hack is outrageous.
A dark-market database claims more than 153 million license scans—including Pete Hegseth’s and Brian Krebs’s—were apparently siphoned from an identity verification middleman
You should be mad. p2p.coincenter.org/p/the-hug…
I cannot emphasize this enough: our entire digital identity and data infrastructure is terrifyingly vulnerable, along with all the financial and physical infra it underwrites and ostensibly secures. This is not just a crypto or even fintech problem. We are sitting on a ticking bomb if the world does not get serious about completely overhauling our approach to digital identity and data collection, *fast*.
There are genuine fixes and tech to deal with this coming - I work with some of them, to my delight - but I sincerely worry that it is not going to come in time to prevent some absolutely biblical catastrophes.
I'm gonna crash out.
I reverse engineered an app published by the Saudi Government a few days ago and found a private bank certificate file along with client id and secret inside it.
One could completely empty the linked bank account.
When I reported the vulnerability, I was told that the portal is only for Saudis.
ok nvm
Alex Lindgren retweeted
1/4
A 4,444-piece NFT collection on Robinhood Chain has become a way to move regulated stock-token exposure between wallets that never passed a KYC check.
Contained herein is the future of capital markets for those with the eyes to see
TODAY🚨: The SEC proposed to update the rules and forms that apply to registered transfer agents.
Read more: sec.gov/newsroom/press-relea…
This is one of the wildest things I've seen play out onchain (incidentally close to how I described previously)!
The solana:GDAdCvjiRoGxA18ya3Qha1DD6bbzbR9Z9AGpMa9Tpump memecoin just cornered 81% of the onchain supply of a tokenized public company $HIMS while Wall Street was closed for the w/e
solana:GDAdCvjiRoGxA18ya3Qha1DD6bbzbR9Z9AGpMa9Tpump is paired directly with tokenized HIMS equity on Robinhood Chain
As BONER rallied, traders entering through USDG or ETH had to acquire HIMS before swapping it into the BONER/HIMS pool
The result:
- 12,284 HIMS accumulated inside BONER liquidity
- Total onchain HIMS supply is only around 15,227
- BONER’s pool therefore contains roughly 81% of the entire supply
- The main HIMS/USDG pool was left with around 92 HIMS against $135K of USDG liquidity
HIMS closed Friday at $28.84 on the NYSE
With most of the tokenized supply sitting inside BONER liquidity, onchain HIMS traded around $39
That's a 37% premium to the real share price
This was not technically a short squeeze because there is no evidence of shorts being liquidated or forced to cover; it was a "float squeeze"
Demand for the memecoin absorbed the available tokenized HIMS inventory faster than market makers could replenish it while the underlying market was closed
The actual NYSE equity was unaffected. HIMS has roughly 225M real shares outstanding compared with just 15.2K tokens on Robinhood Chain
The distortion also inflated BONER’s displayed dollar market cap because its HIMS denominator was itself trading above NAV
At the prices shown, BONER’s displayed $9.4M market cap was closer to $6.9M when HIMS was marked at Friday’s real closing price
When traditional markets reopen, authorised participants can mint additional HIMS or arbitrage the wrapper back towards NAV
Until then, a memecoin has effectively squeezed the weekend float of a tokenized equity
Robinhood Chain is becoming a live experiment in what happens when 24/7 crypto liquidity collides with assets that still follow market hours
There are levels to this that will hit mainstream media and bring A LOT more eyes to crypto
This is how retail returns to the trenches
Alex Lindgren retweeted
1/ Today, @m_mosier_ @malekanoms & I are sharing a new paper: "The Compatibility of Financial Integrity With Permissionless Networks". Institutions say BSA & sanctions laws prevent use of these networks. We debunk this & provide a path forward. 🧵 papers.ssrn.com/sol3/papers.…
Most crime - including white-collar crime - is committed by a small subset of mostly repeat offenders, yet our only reflexive policy response is "surveil everyone everywhere more" regardless of whether it's jaywalking or money laundering we're allegedly concerned with
funny that
Alex Lindgren retweeted
Justin is right. This is unprecedented.
Maybe “hey we are going to destroy all your jobs and rule over you with our machine God, and by the way we are totally trustworthy and normal <lizard noises>” was not a great plan?
Alex Lindgren retweeted
Every day, people want to grow their wealth alongside the companies they already believe in.
Today, companies stay private far longer than they used to. Microsoft went public 11 years after it was founded. Stripe, started in 2010, still hasn't.
The money made in those private years goes to a small group of early backers, and by the time a company lists, the steepest part of the climb is behind it. The public buys near the top.
Opportunity shouldn’t be locked behind private deals. Opacity is built to open more gates for more investors in an economic growth flywheel.
Good.
Today, @FinCENnews issued a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information. FinCEN today also announced that it will delete previously reported information by U.S. persons from the beneficial ownership information database.