Permanent capital can provide cold start capital - Sharplink is the first DAT to do it

News: JPM Coin (JPMD), @jpmorgan's USD deposit token, is now live on @ethereum. JPMD extends from Base to Ethereum L1, giving institutional clients native onchain cash that sits alongside the assets, collateral and counterparties they transact with already. J.P. Morgan has now added a cash leg to the products it already live on Ethereum mainnet, with tokenized money market funds MONY and JLTXX both already on the network. Ethereum is the home of onchain finance.

Over the last 90 days, $16.75T of stablecoin transfer volume settled on @ethereum and its L2s. That is 77% of all stablecoin volume across every network. → @ethereum mainnet $7.1T → @base $8.5T → @Optimism Mainnet $0.8T → Other Ethereum L2s $0.35T $21.55T moved across all networks in the period. $16.75T of it settled on Ethereum. Per @tokenterminal, 15 July to 12 October 2026. Ethereum is the home of onchain finance.

Last week I had the pleasure of sharing the stage with @ethereumjoseph at our Ethereum Ecosystem Summit alongside @token2049. The topic was “Ethereum’s Next Decade: The Cryptographic World Computer,” moderated by @mcamarda0. Over the past two weeks at KBW and Token2049, we’ve focused on what’s happening now: the convergence of stablecoins, tokenized assets, onchain finance and AI agents. There is a clear acceleration of institutional adoption. Individually, each of these elements is transformational. Together, they form the catalyst for a financial revolution that will lead to a new era of economic growth and financial autonomy for investors and consumers around the world. But what will Ethereum look like by 2035? On our panel, we had the opportunity to take a step back and think big. Vitalik recently shared that the Ethereum ecosystem will transition from a traditional blockchain into a high-capacity “cryptographic world computer.” But what does this mean in practice? Ethereum’s foundation of trust and security rests on participants’ ability to independently verify transactions and their outcomes. Its continued evolution builds on that strength, expanding its capacity to support the global financial system. Ethereum’s coming architecture will be leaner and more modular, using ZK proofs and virtual machines to verify results more quickly and cheaply. These advances will support stronger privacy alongside better performance, while further upgrades will strengthen the network against emerging quantum threats. As that foundation becomes faster, more scalable, more private and more secure, we can begin to envision how much further Ethereum can go. Here’s what this means in practice. Tokenization will bring the world's value onchain, but this is just the on-ramp. Onchain finance at near zero cost will be the utility layer. Zero-knowledge proofs will be the engineering that allows neutral trust at a global scale. We will live in a world where any asset can be traded 24/7 with deep liquidity and can settle in an instant. Tokenized assets will be the preferred form of collateral not just in DeFi but across traditional execution venues. Programmable assets and money that run on blockchain rails will allow billions of AI agents to sift through millions of data points and scenarios to make the best decisions for consumers. Billions of AI agents will leverage machine intelligence, financial literacy and unlimited attention. They will provide retail investors with the same capabilities and outcomes as the largest Wall Street institutions. To fully realize this vision, Ethereum’s core principles and advantages will become even more important. The words credibly neutral, decentralized, and censorship resistant mean different things to different audiences. In practice, they will underpin the foundation of the new digital and agentic economy. Indulge me to explain why I believe these principles are so critical: Credibly neutral means a network where the core rules, transaction ordering, validation, and settlement are applied consistently without favoring any specific person, company, or agenda. When the world’s largest financial institutions move their infrastructure onchain, they require one that will remain stable and resilient over decades because market participants know the rules of the game will not suddenly be rewritten to benefit insiders. This is equally important because the billions of agents that are coming onchain will rely programmatically on Ethereum for the essential architectural backbone of a machine-to-machine economy. Decentralization means a network where no single company, bank, or government controls the ledger or makes the rules. Decentralization will create a new type of trust that relies on self-executing smart contracts without the need to rely on human or corporate trust. This automated trust, combined with instant settlement of transactions, will lead to a massive reduction in financial market risk. Equally important, it will ensure the AI agents can seamlessly interact with different decentralized protocols. They can lend on one platform, borrow on another, and hedge derivatives, without always needing API keys or permission from corporate gatekeepers. Censorship resistant means a technical and structural guarantee that anyone with an internet connection can create an account or broadcast a transaction without applying for permission from a centralized authority. In practice, it means that Ethereum applies the exact same mathematical rules to everyone. This is not a political slogan, but rather a prerequisite for the future onchain and agent economy. No one can be unbanked and no AI agent can be excluded from the new machine-to-machine economy. We envision a future where the Ethereum ecosystem will form the global, decentralized settlement infrastructure for the movement of assets and transactions, a new internet of value. This design will make it more difficult for highly-placed intermediaries to exploit a lack of attention to collect rents. It will make it easier for billions of AI agents with unlimited financial attention to deliver value for investors and consumers around the world. At Sharplink, we have more conviction than ever that Ethereum is best-positioned to deliver this future, a value proposition that is hard to overstate. ETH, held. Conviction, held.

"We're about to see the biggest transformation in consumer financial services since the 1970's..." Discussed the convergence of AI and blockchains on @asiasquawkbox.