Senior Investment Strategist @Bitwise | Not Financial Advice
Joined May 2019
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Juan Leon retweeted
Binance situation is ongoing but a few comments —
1. Client assets in @bitwise solutions —across vaults we curate, private funds, ETFs— are safe. We will continue to monitor the situation.
2. Markets (both spot and lending) will likely be choppy for a bit. The crypto industry will survive this and be stronger for it. As will @binance who has the industry's support.
3. Cyber defense is an essential topic for all firms this year. And will continue to be.
As ever, committed to being a good steward for our clients and a good partner.
Juan Leon retweeted
We worked with regulators for years to help make crypto ETFs possible.
We're happy to collaborate again, this time on vaults.
Today, @crypto_council submitted a 238-page framework on how vaults can fit into US Securities Laws.
Bitwise General Counsel @johannarcw led our work here, alongside fantastic peers at @Morpho @galaxyhq and @ChapmanCutler.
Vaults are going to change capital markets. We're delighted to get to be a part of it.
🚨🗞️NEW: Crypto Vaults Put 90-Year-Old Securities Rules to the Test
Can securities laws keep up with crypto vaults? A new report from @crypto_council says the answer may hinge on how much control humans retain over how the funds are managed.
cryptoinamerica.com/p/exclus…
Juan Leon retweeted
ICE is very quickly becoming one of the most forth-coming TradFi innovatooooors.
The OKX/ICE partnership encourages mass tokenisation of US equities in AMMs like ethereum:0x1f9840a85d5af5bf1d1762f925bdaddc4201f984; and now the Trade[XYZ]/ICE partnership brings 168 NYSE member firms on hyperliquid:native , providing regulated Perpetual Futures to the worlds largest financial institutions.
This is the unlock.
Great report on the outlook for AI cybersecurity going into 2027.
Key takeaways:
- 87% expect security spend to increase, driven by AI-enabled threats and their own AI deployments’ expanding attack surface.
- For 2027, top priority initiatives involve AI: internal AI agent security, SOC automation, offensive security, AI governance.
- Patching vulnerabilities is a major bottleneck: 67% want exploitability-validated prioritization, while 57% want fixes generated automatically.
Juan Leon retweeted
Our updated bitcoin forecast for 2036:
Bear case: $130,686
Base case: $1,599,766
Bull case: $3,667,911
Read the report to find out how we get there:
bitwiseinvestments.com/crypt…
Our “2027 Bitcoin Long-Term Capital Market Assumptions” report is live.
Ten-year forecasts for bitcoin’s return, volatility, and correlation to stocks.
Base case: BTC to $1.6 million by 2036.
bitwiseinvestments.com/crypt…
In our newly updated "Bitcoin Long-Term Capital Market Assumptions" we forecast bitcoin will be the best-performing major institutional asset of the next decade.
It will also remain a volatile asset subject to significant (but diminishing) drawdowns. The largest risks come from quantum computing, AI-driven mathematical advances, and regulatory reversal.
Check out the full report!
Our “2027 Bitcoin Long-Term Capital Market Assumptions” report is live.
Ten-year forecasts for bitcoin’s return, volatility, and correlation to stocks.
Base case: BTC to $1.6 million by 2036.
bitwiseinvestments.com/crypt…
Adding takeaways on AI cyber from the earnings call:
- Direct AI use case bookings for FY26 were "well over $100M," up nearly 300% YoY
- Direct AI customers grew 4x to 200+
- AI-powered web application firewall: 300+ customers in under 6 months
Summary of F5's earnings results:
- Revenue grew 13.3% YoY to $917.4 million, driven by a 23% increase in product revenue. That's nine straight quarters of double-digit product growth.
- Non-GAAP operating margin was 33.7% (-3.3% YoY), as sales/marketing (+27%) and R&D (+21%) outgrew revenue.
- FY 2027 guidance: revenue growth of 8% to 9%, non-GAAP EPS $18.00 to $18.30, a deceleration from FY26’s 11% growth.
- New $1.5B buyback authorization on top of $322M remaining, backed by $1.59B of cash.
Juan Leon retweeted
All asset classes are moving onchain. Tokenized stocks and stablecoins (which are really just tokenized fiat currency) are growing fast, with more to come.
We'll continue updating the financial system.
Summary of F5's earnings results:
- Revenue grew 13.3% YoY to $917.4 million, driven by a 23% increase in product revenue. That's nine straight quarters of double-digit product growth.
- Non-GAAP operating margin was 33.7% (-3.3% YoY), as sales/marketing (+27%) and R&D (+21%) outgrew revenue.
- FY 2027 guidance: revenue growth of 8% to 9%, non-GAAP EPS $18.00 to $18.30, a deceleration from FY26’s 11% growth.
- New $1.5B buyback authorization on top of $322M remaining, backed by $1.59B of cash.
Today, we announced our fourth-quarter FY2026 financial results, with 13% total revenue growth year over year and 23% product revenue growth year over year. 📈
See the full results: go.f5.net/e9cdjazr
#Earnings $FFIV
1/ 78% of CISOs have already had to pull permissions from an AI agent running in production. Only 18% check an agent’s identity before it acts.
A survey of 300 security chiefs out today shows how far agent identity security has fallen behind agent adoption, and who is building the fix. 🧵 below.
5/ 3 takeaways:
1. The labs sell through cyber security incumbents.
2. Platform breadth is the ticket into every room, and only two companies hold it.
3. The lists are new and open, so keep an eye on who gets added next (data, identity governance, resilience).
6/ Full lists:
OpenAI Daybreak Defense Network (20): Akamai, Cato Networks, Check Point, Cisco, Cloudflare, CrowdStrike, Darktrace, Elastic, Fortinet, IBM, Okta, Palo Alto Networks, Proofpoint, Red Hat, SentinelOne, Sophos, SpecterOps, Tenable, TrendAI (Trend Micro), Zscaler.
NVIDIA OpenShell Reference Architecture, security integrators (11): 1Password, Check Point, Cisco, CrowdStrike, F5, Fortinet, Microsoft, Okta, Palo Alto Networks, TrendAI, Zscaler.
Anthropic Critical Infrastructure Defense Program, founding partners (11): Accenture, Booz Allen Hamilton, CrowdStrike, Deloitte, Dragos, Hitachi, Insane Cyber, Nozomi Networks, Palo Alto Networks, PwC, Rockwell Automation.
Note: NVIDIA’s release also names other participants outside the security list, which are not counted: model builders (Anthropic, Cohere, Google, Meta, OpenAI, Perplexity, Reflection, SpaceX Super Intelligence), operating systems and clouds (Canonical, SUSE, Red Hat, Microsoft, AWS, Google Cloud), enterprise software (Cadence, Dassault Systèmes, IBM, SAP, Siemens, Synopsys, ServiceNow, Palantir), banks (BBVA, Santander), system builders and cloud providers.