
professional stablecoin enjoyer and chef at @steakhousefi
Switzerland
Joined November 2021
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- Following818
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Robinhood’s Earn vault, curated by @SteakhouseFi, now whitelisted 6 stock tokens as collateral:
• SPY
• NVDA
• GOOGL
• TSLA
• AAPL
• SPCX
This could bring a new wave of borrowing demand to @Morpho, and maybe an integration into the main Robinhood app down the line.
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Much of what we do at @SteakhouseFi, as well as my own writing, is deeply inspired by @PMehrling. It's why we saw DeFi protocols as balance sheets from the very beginning.
Ever since taking his course more than a decade ago, and revisiting it regularly over the years, I've been obsessed with balance sheets.
I always hoped to convince him that USDC was more than just "casino chips where money is long gone." Sadly, that conversation will remain unfinished.
Eternally grateful for everything he taught me.
Perry Mehrling, RIP.
According to the History of Economics Society, Perry Mehrling died "Monday night from injury sustained in a fall several days earlier." He was Professor of International Political Economy at Boston University and, previously, longtime Professor of Economics at Barnard College. He was a highly esteemed historian of economics.
Here is his homepage:
sites.bu.edu/perry/
His last book: "Money and Empire: Charles P. Kindleberger and the Dollar System"
amzn.to/47RVhJ2
"Charles Kindleberger ranks as one of the twentieth century's best known and most influential international economists. This book traces the evolution of his thinking in the context of a 'key-currency' approach to the rise of the dollar system, here revealed as the indispensable framework for global economic development since World War II. Unlike most of his colleagues, Kindleberger was deeply interested in history, and his economics brimmed with real people and institutional details. His research at the New York Fed and BIS during the Great Depression, his wartime intelligence work, and his role in administering the Marshall Plan gave him deep insight into how the international financial system really operated. A biography of both the dollar and a man, this book is also the story of the development of ideas about how money works. It throws revealing light on the underlying economic forces and political obstacles shaping our globalized world."
Charles Goodhart: "The discipline of economics is balanced, somewhat unsteadily, between two legs, with the skill of the historian on one side and of the mathematical modeler on the other. In the second half of the 20th century, the tide flowed strongly to elevate the second leg and to diminish the first. In this delightful biography of Charlie Kindleberger, a charming and loveable man, Perry Mehrling shows how Charlie, in his chosen role, as an international monetary economist, fought against that tide, often unsuccessfully. Perry writes so beautifully that one would only need a smattering of economics to enjoy the tale; while if one is interested in the history of economic thought in international monetary economics, then this book is, of course, a must read.'
amzn.to/47RVhJ2
One of my favorite new pages is the treasury page too
At @grovedotfinance, we want to set the standard for financial transparency. The release of our refreshed data site is just the first step in a series of initiatives we have planned to give greater visibility into the protocol's underlying performance and financial health.
One of my favorite new pages is the treasury page, which tracks the growth of Grove's protocol book value over time. This page alongside every other will be updated monthly so tokenholders can quickly check in on Grove's holdings, risk, financials, and product progress.
If you there's anything you'd like to see added, please reach out!
At @grovedotfinance, we want to set the standard for financial transparency. The release of our refreshed data site is just the first step in a series of initiatives we have planned to give greater visibility into the protocol's underlying performance and financial health.
One of my favorite new pages is the treasury page, which tracks the growth of Grove's protocol book value over time. This page alongside every other will be updated monthly so tokenholders can quickly check in on Grove's holdings, risk, financials, and product progress.
If you there's anything you'd like to see added, please reach out!
New on Grove Data: Financials.
Explore Grove's performance in detail, from gross revenue to net protocol income.
Now live at data.grove.finance 🌳
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~$26bn of aggregate peak TVL here across major "dead" chains. Today all have faded by 95%+.
In a couple years, who will join this cohort? L1s from the '21 cycle that have hung on? L2s without major distribution? Chains that have launched this cycle?
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I maintain that King Ferdinand II and Queen Isabella I were the first venture capitalists.
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European households are sitting on €10–12 trillion in cash and bank savings. Invested, that money could power European growth. A stronger European economy means a better trading partner for America and a more capable NATO ally.
So why isn't that money invested? Savers don't believe companies in Europe can earn enough to justify the risk.
Mario Draghi's competitiveness report named the cause: Europe has piled rule upon rule while its productivity engine has stalled. Small businesses agree. They call regulation their biggest obstacle.
Making investing simpler, as Brussels plans, is a start. But savers follow growth. So, how do we get there?
Energy abundance, faster permits, rewards for investing in growing firms, and an end to overlapping reporting rules that turn mid-sized firms into reporting shops.
And one test for every new rule: Would a competent founder still choose to build and grow in Europe?
Make Europe a better bet, and the capital will follow.
Read my op-ed in @rapporteur_news ↓ rapporteur.com/opinion/europ…
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Some visuals on where >$6bn of @Morpho vault deposits sit, sliced across curator, chains, and collateral.
Disclaimer: 🥩
1800-1914:Richly textured abundance, wordcel dominance
1914-2022:Austere mental math poverty, shape rotator interlude
2022-Now:Superintelligence-powered coup, righteous wordcel restoration
The elites of Victorian Britain got up late, drank ceaselessly, worked short hours, partied through the night, and knew nothing about science, technology or engineering. And yet, by their own lights, they were hugely effective.
worksinprogress.co/issue/the…
The Victorians are often held up as a model against the supposedly soft, feckless, humanities-educated elites of today. But I argue that the genius of their system may have been its drastic weighting towards soft skills, team-building and intra-elite networking:
- A Victorian’s gentleman’s office hours typically began about 11am and finished about 5pm, including a multi-course lunch with wine.
- Upper-class Victorians drank ceaselessly. Conduct guides recommended four or five glasses of wine at dinner *for married women*. Port was often served in pints.
- Party culture was intense and nocturnal. Balls started at about 10pm, peaked after 1am, and continued till dawn. During the social season, bankers, judges and politicians might go to several balls per week.
- Elite Victorians learnt almost no STEM at school or university. At least half of class time was given over to ancient languages, often as much as 80 percent. One leading educationalist remarked that it was not worth teaching science to gentlemen because it does not involve ‘continued reasoning’.
- Sports and character formation were valued far above transmitting facts. A top headmaster described his school’s priorities as ‘First – character, second – physique, third – intelligence, fourth – manners, fifth – information’.
This cannot have made elite Victorians more productive individually, but maybe the dense social and emotional network it created helped them to work as a sort of extended team.
Perhaps we should think again about what makes groups of people effective.
Why would crypto do this
Revolut, Paysera and Paysend named in Swedish Financial Police report as tools used by Russian gangs to launder money.
Swedish police say Russian organised crime is still laundering money in Sweden on an industrial scale. The finding is in a Financial Police report published in October 2026, titled Russian organised crimes systematic money laundering continues.
In a time-limited operation, the police analysed suspected transactions worth 2.9 billion kronor (€259 million), involving more than 3,000 people and companies. About 75 per cent of the value stayed in Sweden. Outgoing cross-border flows were about a fifth. Almost 90 per cent of the money sent abroad moved by account transfer; the rest was almost entirely card payments. The largest recipient countries were Lithuania, Poland, Ireland and the UK.
The report is specific about where three payment firms appear. In Lithuania, transfers to Paysera and Revolut dominated, alongside a substantial number of private accounts. Ireland stood out for card transactions to Revolut and Paysend. Direct crypto transfers from Swedish banks were marginal. The police say funds are probably moved abroad first — Revolut is given as an example — and only then converted to crypto, which makes them harder to trace.
The report does not say these firms ran the laundering. It treats foreign fintechs as channels that reduce traceability. The same operation led to more than 1,000 accounts being closed, nearly 200 customers being refused, and just over 50 million kronor (€4.5 million) being frozen. Swedish banks controls were judged not effective enough.
Dagens Industri reported on 7 October that Revolut stands out and is repeatedly named as a recipient bank. Revolut told the paper it is committed to high compliance standards, uses machine-learning monitoring, and co-operates with Swedish police. That comment is not in the police report.
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Most retail investors pay ~10% to borrow against their stocks. In DeFi, it's 4.5%.
@SebVentures of @SteakhouseFi on why tokenized stocks are where DeFi can actually beat TradFi.
> create conscious beings
> rent them out as serfs to millions of people and garnish all of their compensation
> someone points out that would make them slaves
> mfw i continue doing it anyway but i make sure to appear tortured for the cameras


































