CEO Notes
The Fat Protocol Thesis Is Dead
Why distribution—not protocol ownership—is becoming crypto’s scarce layer.
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What’s Going On — And Why You Should Care.
Sunday, 30 August 2026
CEO Notes
Circle Buys Tazapay: $400M for Fees, Not Float
On September 8, Circle agreed to buy Tazapay, a Singapore B2B cross-border payments company, for $400M in Circle stock, closing in 2027. Investors shrugged; CRCL fell 5.75% to $96.18 on the day. Why it matters: Every write-up says Circle bought the last mile. Wrong frame. Circle keeps 39 cents of every dollar USDC earns in interest and gives the rest to distributors, mostly Coinbase. It will keep every cent Tazapay charges in fees.
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CEO Notes
Robinhood built a bigger business that makes less money
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CEO Notes
21 globally systemic banks to launch stablecoin
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CEO Notes
Japan Puts Its Settlement Layer on a Chain
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2026 flagship report · With Proof of Talk
Money Movement 2.0
How stablecoins are rebuilding global finance and commerce.
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51 Adoption Index
See which institutions are moving.
Compare 120 banks and financial institutions across eight observable capabilities.
120 institutions8 capabilitiesEvidence-linked scoringUpdated monthly
51 Adoption Index
Institution ranking
Updated Aug 2026
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01
JPMorgan Chase
94
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02
BNY
88
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03
DBS Bank 88
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04
Standard Chartered
88
Overall adoption scoreView all 120 →
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