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Fairmint @fairmint

Introducing Fairmint's Onchain Transfer Agent services offering. Not just tokens representing shares held in an offchain register. The official shareholder register itself is onchain, maintained by an SEC-registered transfer agent. Read the announcement:

Mike MacCana @mikemaccana

Full page ad in WSJ against tokenized equities:

Dagger @dagger_io

Announcing Dagger 1.0 beta. Replace Jenkins and GitHub Actions with CI that matches the speed and scale of coding agents without wasting compute or tokens. Featuring: test-native CI, dev shells, local and remote execution, official modules, and more.

Thomas Porcher @PorcherThomas

D'ailleurs, la taille du spread franco-allemand à long terme pourrait même devenir un problème pour l'Allemagne pour financer sa dette car, en l'absence de risque, les prêteurs prêtent aux pays avec des meilleurs taux.

Watcher.Guru @WatcherGuru

JUST IN: 🇺🇸 Wells Fargo, Intuit, and 20 other companies oppose tokenized trading of their stocks on OKX.

nic carter @nic_carter

this California wealth tax thing is just incredible. so in October 2025, a California healthcare union proposed a "one time" 5% tax on any billionaire's wealth. the ballot measure will be voted on next month. In early December 2025, California announced that it would be a retroactive tax if passed, applying to anyone with CA residency as of Jan 1, 2026. The objective is to pay for Medi-Cal, California's incredibly dysfunctional healthcare system. (which also functions as a glorified welfare apparatus, but that's a discussion for another time). polls reveal that the CA electorate is split around 50/50 on the tax, but prediction markets only give Prop 40 a ~23% chance of passing (there are competing measures on the ballet that would nullify it). there are 200 billionaires in CA, worth collectively somewhere between $2.3 and $2.6 trillion. 5% of that is around $100b, accounting for a small amount of attrition. proponents of the tax forecasted a significant windfall, assuming only a 10% departure rate. supporters thought they were being clever with the retroactive concept. no billionares would leave CA in the few short months between the tax being proposed and the residency cutoff date, without the tax even having passed yet, right? well as it turns out, they did. a new paper [1] from two academics at Stanford called "The Net Present Value of the California Billionaire Tax Act", argues that not only did more billionaires leave due to the proposed tax than its proponents expected, but that the value of the tax, if it does pass, is actually negative. proponents of the tax only assumed 10% avoidance, that is, only 10% of the taxable base of targeted billionaires would leave CA within the very short Oct-Dec 2025 window. Jaros and Rauh, the Stanford academics, find that a lower bound of 28.6% of the taxable base managed to leave. just based on known departures, those departures total $577b in net worth, or $28.8b in potential tax lost. this of course does not capture everyone (many left without announcing their departure), so the authors normalize to departure rates estimated from other wealth tax events, and apply other discounts for litigation, arriving arrive at a figure of only $28-$36b in forecasted tax revenues. but this isn't all! all of the income taxes paid by the departed billionaires are also forsaken. the authors estimate that CA billionaires pay $3.3- 5.8b in annual income taxes. they assume a midpoint of $2b lost in annual collections from departed billionaires. the net present value of that lost income stream is -$68.9 billion. so when you add it all up you get: + $30b one-time tax windfall (estimated) - $69b in present value of lost future income taxes = - 38.9b overall net present value of the tax of course, this analysis is highly estimate driven. the authors simulate the parameters 100k times and find a negative NPV of the implemented tax 85 percent of the time. and if the tax doesn't pass, which it's not looking like it will, California still ended up losing at least $577b in departed net worth, and they have permanently poisoned the well with entrepreneurs who will now worry about future wealth taxes. [1]:

Canton Strategic Holdings @CantonStrategic

Join us tomorrow at 11:00 a.m. ET for the Q3 Canton Network Ecosystem Webinar! @MarkWendlandCSH and Mark Toomey of Canton Strategic Holdings, alongside @Joris_DLN of @Fairmint, will discuss U.S. digital asset regulation and its implications for the @CantonNetwork . Register:

Olivia Vande Woude @cryptoreine

xStocks @xStocksFi

Tokenization will be the standard for all assets

Base @base

Global finance needs a Base

Ethan GP @EthanGeopolitX

🇷🇺 Yandex Unable to Restore Its Data Centers Until at Least 2028 Due to Chip Shortages