Alex Felix@flex4blox · 2026/08/24政策影响NVIDIA plans to finance its continued AI dominance with what looks a lot like GPU-backed loans, just called by another name.
Compute access can scale three ways: financialized, decentralized, or cloud-like.
NVIDIA is betting on financialized but consolidated. They want to become the central bank of compute, backstopping up to 25% of residual value themselves. You only do that when there's no neutral secondary market to set the price, and that missing market is the whole opportunity.
A more open version could emerge instead: an exchange and index that independent players build on. But that needs open supply. If the biggest capacity stays locked in private deals with named buyers, there's no float to trade, which is why bringing idle, long-tail compute online matters so much. It's one reason we backed @Pluralis.
To me, that open market is more interesting than a private, structured-finance market run by NVIDIA and a few megafunds. It's still a tall task. Power and freight show you can trade a perishable flow off a depreciating asset, but compute is harder since the spec keeps obsoleting and there's no secondary market for the box - that's a problem worth solving.
AI：偏政策推进，强调合规落地与规则明晰，对监管主线更敏感。
Alex Felix@flex4blox · 2026/08/21观点输出RT @coinfund: .@TIME named @coinfund one of America's Top Venture Capital Firms of 2026.
We believe this is a reflection of the exceptiona…
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Alex Felix@flex4blox · 2026/08/19观点输出@samboboev @dakota_xyz
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Alex Felix@flex4blox · 2026/08/18观点输出foreskin discourse. no further questions. @factmachine https://t.co/z6d3YZxzEq
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Alex Felix@flex4blox · 2026/08/12政策影响Congrats to our portfolio company @dakota_xyz and @ryanbozarth on filing for a national trust bank charter with the OCC
Most stablecoin payments companies and fintechs rent a bank's charter and inherit its limits
Dakota is building a crypto native stack, custody, issuance, compliance as code, on top of a chartered banking layer instead of bolted onto one. That's a different moat
AI：偏政策推进，强调合规落地与规则明晰，对监管主线更敏感。
Alex Felix@flex4blox · 2026/07/30赛道影响annual reminder to never be the main character.
leverage is just the fastest way to get nominated.
AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。
Alex Felix@flex4blox · 2026/07/17赛道影响Not every business needs a token
The next cycle won’t be about creating more tokens, but about figuring out which ones should exist in the first place
Joined @RealAllinCrypto last week to discuss where @coinfund is investing, what we're avoiding, and where onchain growth comes next (a place most people aren't looking yet)
AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。
Alex Felix@flex4blox · 2026/07/08观点输出@SuperstateInc and @veda_labs are building the infrastructure for that shift. @ether_fi is handling productization and distribution to get that yield in front of end users.
AI：延续个人公开立场，强调长期主义、执行效率与行业方向判断。
Alex Felix@flex4blox · 2026/07/08赛道影响The dollar rail and the yield-bearing asset are splitting into two separate products.
That's not a workaround. That's the market finding the actual architecture to maximize benefit and potential.
AI：偏主题投资表达，释放对基础设施与新叙事的偏多信号。
Alex Felix@flex4blox · 2026/07/08政策影响Stablecoins aren't the tell anymore. RWAs are.
Tokenized RWAs have grown ~5x since Jan 2025. Stablecoin supply is up only ~50% over the same window.
Here's why the yield is quietly moving to a different layer: https://t.co/cWWzntxD80
AI：偏政策推进，强调合规落地与规则明晰，对监管主线更敏感。
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