Crypto enthusiast that likes to tweet, blog, and vlog about all things crypto.
Joined June 2021
- Tweets23.3K
- Following1.8K
- Followers2.2K
- Likes16.1K
ReddSpark retweeted
NEARLY 1 OUT OF 3 (60,000 EMPLOYEES) AT MICROSOFT BEING OFFERED VOLUNTARY TERMINATION
Emails should be going out any minute to those receiving the offer.
Absolutely insane.
$MSFT offers 60,000 employees a voluntary exit.
60K Y’all!!
First time this has ever been offered at Microsoft and it will affect employees in India, The United States, Canada, and the UK at level 70 or below…
Employees find out in a few hours if they are being targeted for this.
This just makes me think that H127 layoffs sound intense. Is this a pre-layoff round?
Also makes me wonder if they changed some scheduled layoffs due to be called out by @VP. Peace offering? 🤔 Timing is just interesting.
More to come.
ReddSpark retweeted
There is an overlooked detail in the tokenomics of Canton that causes incessant ups and downs (for example between $0.14 and $0.17).
The official story is "high usage = high burn" but this is a simplified view. Actually Canton allows traffic to be bought in advance, therefore:
ReddSpark retweeted
Barclays cutting 5,000 jobs as bank increases its use of AI bbc.in/4zNvcXC
ReddSpark retweeted
Security called me at 6:12 AM today.
"Patch every PHP server immediately."
I asked what happened.
"Two critical vulnerabilities. Remote code execution. No authentication required."
Cool.
How many PHP servers do we have?
According to inventory: 12
According to reality:
Nobody knows.
We found one running WordPress.
Three running old internal tools.
One under someone's desk.
Two inside vendor appliances.
A forgotten employee directory from 2016.
And a server named:
PHP-OLD-DO-NOT-TOUCH
Naturally, that one runs payroll exports.
Then we found a PHP 5.6 box.
I asked who owned it.
The documentation said:
BRIAN.
Brian left in 2019.
We called Brian.
He said:
"Oh wow, that's still running?"
Excellent.
By 8 AM, leadership joined the incident call.
CEO:
"Can hackers actually get in?"
Security:
"Potentially yes."
CEO:
"Without a password?"
Security:
"Yes."
CEO:
"Then why do WE need passwords?"
Not the lesson.
Finance asked if we could wait until the weekend to patch because downtime affects revenue.
Security explained that the alternative was letting strangers execute code on our servers.
Finance asked for a cost comparison.
At 9:17, someone suggested temporarily taking the vulnerable websites offline.
Marketing refused.
"Our campaign is live."
So for the next hour, the company officially decided maintaining a landing page for 20% off webinar registration was more important than preventing remote server takeover.
We finally patched everything we could find.
Then our scanner discovered another PHP server.
Hostname:
TEMP-PHP-2014
Uptime:
4,512 days.
Nobody knows what it does.
Nobody owns it.
Nobody can shut it down.
But every time we block network access, the warehouse stops printing shipping labels.
Security has classified it as critical infrastructure.
It is running PHP 5.4.
The vulnerability has existed longer than half our employees.
The emergency patch took four hours.
Finding out what PHP actually runs took eleven.
The internet isn't held together with code.
It's held together with servers everyone is afraid to turn off.
What this means is that by the end of January we should expect to see transactions go up significantly which should result in a higher burn rate and higher $CC price
ReddSpark retweeted
Canton Network has an important ecosystem update tomorrow, October 21. $CC @CantonNetwork
Mark Wendland and Mark Toomey of Canton Strategic Holdings will join Joris Delanoue, CEO of Fairmint, to discuss recent SEC and CFTC initiatives and their implications for tokenization, institutional adoption, and onchain financial markets.
What's worth watching is how evolving U.S. regulations could influence the infrastructure institutions use to bring traditional financial assets onchain.
Link to register
lnkd.in/gYBKmMUa
ReddSpark retweeted
MUFG, Japan's largest banking group, is testing onchain Japanese government bond repo on Canton Network. Four MUFG companies, including MUFG Bank, run the pilot with Digital Asset and Progmat.
@CantonNetwork
The volume of transactions on the Canton network has been dropping since June 1st.
Why?
@CantonNetwork
I asked Grok:
The Q3 2026 Canton Ecosystem Report directly addresses it.**
The drop in recorded transaction volume (and the associated fee total) since the early-June peak is attributed mainly to the phased rollout of CIP-0104
This governance change replaced the old system of self-reported “activity markers” (which apps inserted into transactions to claim rewards) with rewards based on actual measured network traffic from sequencers and mediators.
cdn.prod.website-files.com/6……
Key points from the report and related coverage:
- Average TPS fell from 26 in Q2 to 15 in Q3, and fees dropped ~18% QoQ (to ~$157M). The report cites tighter enforcement of Featured Application standards by the Accountability and Tokenomics Committees, plus apps optimizing away marker overhead as they adapted to the new rules.
cantonnews.org/canton-s-q3-m……
- It describes the decline as a likely **transition cost** rather than a structural drop in underlying usage. The burn-to-mint ratio improved slightly (0.65 → 0.69), and institutional activity (repo, tokenization pilots, etc.) continued.
- Daily fee pace in Q3 was also ~15% below the late-June peak tracked by DefiLlama, consistent with the chart’s post-June 1 decline.
In short, a meaningful portion of the earlier high transaction counts was marker-driven activity that the network deliberately reduced. Real economic flows (especially large institutional ones) are not fully reflected in raw TX counts, which is why fees and value settled can move differently from the transaction-volume chart.
Some more context:
The marker system existed as a pragmatic early design choice, not as an intentional loophole.
Initially, Featured Apps could only earn rewards when their transactions involved Canton Coin (CC) transfers. That excluded a lot of the institutional activity Canton was built for — settling trades in other assets, locking or transferring real-world assets (RWAs), minting non-CC tokens, license renewals, etc. Forcing artificial CC transfers into those workflows just to generate rewards would have added complexity for developers.[](<raw.githubusercontent.com/gl…>)
CIP-0047 introduced `FeaturedAppActivityMarker` contracts so apps could self-report “economically meaningful activity” and earn rewards without needing a CC transfer. Governance (via the Tokenomics Committee) was supposed to enforce that markers only went on real value-adding events, not intermediate steps or spam.
In practice this proved easy to game and inefficient:
- Reward weight was not tightly linked to actual network traffic consumed.
- Apps could insert multiple markers or structure transactions to inflate activity counts.
- Every marker pulled the DSO (Super Validator organization) into the transaction, bloating size, increasing validation load, and reducing throughput.
- Policing what counted as valid required ongoing human review, which doesn’t scale and creates pressure toward more centralized control.
CIP-0104 replaced it with automatic measurement of real traffic burn from sequencer and mediator data. That removes the self-reporting surface, cuts the overhead, and ties rewards more directly to actual network usage. The Q3 volume drop is largely the result of that cleanup — the earlier high transaction counts included a material amount of marker-driven activity that the network deliberately reduced.
ReddSpark retweeted
10/28 Stated as the day @The_DTCC goes live on BESU and @CantonNetwork
"interesting trades at the end of this month"
I saw a post from @temple_ny not long ago saying something is coming on 10/28 in their service sweet.
@YuvalRooz stated the last week of October for the DTCC.
If i was a betting man i would say 10/28 is the date....
But still no "official" announcement of a launch date.
Shout out @SMQKEDQG for the initial report.
‼️THE DTCC’S TOKENIZATION SERVICE GOES LIVE OCTOBER 28TH‼️
This is the first public confirmation from a participant of the DTCC Working Group regarding the official launch date.
10/28✅
This is directly from Fireblocks’ own John Hallahan. 🤝
Remember, Fireblocks directly supports XRP, XLM and HBAR 😏💨
He also goes on to state that:
"We're working with several of the participants along with Citadel and being READY FOR THAT DATE”🗓️
"You'd expect to see some really interesting trades happening from the end of this month."🔥
A golden discovery that remained unknown to 99%.😶🌫️
Until now.☝️
Watch closely.🍿👇
ReddSpark retweeted
Congrats!
CEOs & execs posting to the public directly on 𝕏 is the best way to get your message out and drive product sales.
Vastly more powerful and effective than a press release.
Is this why $CC is going down?
Your second tweet answers your first @CertiKCommunity. "CC is burned for services, while newly minted CC rewards applications and operators." Follow that through and the $155M stops being fee income.
A Canton fee is Canton Coin burned, mostly by validators buying traffic. The people burning it are the app operators, and the protocol mints them new CC for doing so. The largest burner, Temple, charges its users 0.5 and 1 bp, prepaid and deducted off-chain. Those fees go to Temple, not into the burn. On-chain, Temple burned 269M CC of traffic in Q2 and has received 1.17B CC in protocol rewards to date.
Q3 on-chain: 1.99B CC minted, 1.37B burned. That burn, priced in USD, is the $155M. CCView puts 72% of the minting with the apps generating the traffic. Digital Asset's own Universal Burn draft says the network mints about twice what it burns.
In June you wrote the burn-to-mint ratio was "closing on the 1.0 that marks net deflation." Four months on, burn has been flat since February and minting has stayed above it every month. The gap is new supply. And "no premine, CC exists only because of activity" sits awkwardly with 60% of all CC ever minted going to Super Validators for running nodes.
So "the highest fees across all chains" is a network paying participants to create traffic, then counting the cost of that traffic as revenue. The useful metric is not fees. It is burn against mint, and whether anyone pays without being repaid. Right now the biggest payers are also the biggest recipients.
ReddSpark retweeted
🚨RICHARD HEART ARRESTED IN ISTANBUL TODAY!
Hex and PulseChain founder Richard James Schueler, known as Richard Heart, was detained this morning in a Beşiktaş raid by Turkish intelligence and police.
He was wanted by Interpol on a red notice.
Authorities seized hundreds of thousands of dollars in cash, luxury watches, firearms, and computers linked to crypto activity.
He faces allegations of large-scale crypto fraud involving the U.S., Finland, and Spain.
Video via @CagdasEvren.
ReddSpark retweeted
Canton is facilitating more than $300B in daily value transfers.
Already adopted by Goldman Sachs, BNP Paribas, and LSEG, that footprint is expanding in Korea through partnerships with Shinhan, Hanwha, and KB.
@YuvalRooz discusses with @KoreaTimesCoKr.
koreatimes.co.kr/economy/cry…
ReddSpark retweeted
On Saturday, Canton MainNet swapped its ordering consensus engine.
800+ nodes moved to Canton BFT, a multi-leader, parallel-ordering protocol, with almost no downtime.
Nobody noticed. That’s the point.
The upgrade mechanism itself is now proven: deep protocol changes on a live, decentralized network, while it keeps running. And Canton BFT is the foundation for much higher throughput.
ReddSpark retweeted
Managing an OTC swap over its lifecycle requires multiple systems and ongoing reconciliation between counterparties.
Derivnex closed the first OTC swap on Canton, a total return swap between @DRWTrading and @MarexGlobal referencing an index @KaikoData tokenized on the network.
ReddSpark retweeted
Had a meeting with the Executive Director of @The_DTCC today.
They are locked in on using @CantonNetwork
No mention the entire conversation of any other L1 but they did mention they are integrating others down the line.
I hold 0 $CC btw - should probably consider changing that.
"Any asset, […] any jurisdiction, with any custodial system, any time of day is now mobile in terms of collateral. This truly changes the game.”
- Dan Doney, CTO of @The_DTCC