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The closure of the Strait of Hormuz means the oil giants of the Middle East are scrambling for new routes to get their product to global markets. Syria has become an unlikely winner

Almost 12 years ago, I left @DRWTrading with @wesarn_real to start @digitalasset. @ShaulKfir joined us shortly after. The name felt right. The idea was simple but audacious: build a global settlement system that is asset agnostic. One that doesn’t eliminate banks, exchanges, and intermediaries, but tears down the barriers keeping people from accessing assets and settling at a fraction of today’s cost. A new financial world, built for the end consumer. We knew institutional adoption was the path. We just didn’t know how long it would take. We failed. We made bad decisions. There are things we would have done differently. But we never let go of our North Star, even when people around us were convinced we had no idea what we were doing. That focus, conviction, and most of all, patience, led us to launching @CantonNetwork. And the results speak for themselves. Today is a new chapter in that story. I’m proud to announce that @a16zcrypto is leading our latest round, joined by some of the giants of the global financial system, including @ABNAMRO, ADIA, @apolloglobal, @BNPParibasCIB, @Broadridge, @citsecurities, @CMEVentures, @cbventures, Green Wolf Asset Management, @Hanwha_Official, @HSBC, @icapitalnetwork, @LCVentures, @OptiverGlobal, @polychain, @R136Ventures, @SPGlobal, @sbigroup, @smash_capital, @SoFi, @Tradeweb, and @WilliamBlair, and others we’ll be naming shortly. Twelve years ago, I could not have imagined building alongside partners of this caliber. $CC today processes the highest fees of any institutional blockchain network. And we’re just getting started. What’s coming later this year is just as exciting. None of this happens without the builders, the ones who show up to weekly tokenomics meetings, dial into operations subcommittees, spend nights and weekends building apps on Canton, and show up on @X to cheer this ecosystem forward. You are not just supporters. You are partners. I’m honored to be on this journey with you. On a personal note: @a16z hits differently for me. Ben’s book The Hard Thing About Hard Things was one I kept coming back to during the hard stretches. Having his firm lead this round is meaningful in a way that’s hard to put into words. So I’ll let him do it: “The hard thing isn’t setting a big, audacious goal. The hard thing is spending sleepless nights trying to achieve it. The hard thing isn’t dreaming big. The hard thing is waking up in the middle of the night in a cold sweat when the dream turns into a nightmare. Motivating yourself by watching YouTube shorts or Instagram reels isn’t the hard thing. The hard thing is working every day and being consistent even if you feel like shit. The hard thing isn’t boasting you could achieve anything. The hard thing is working like hell to achieve something. The hard thing isn’t believing in yourself. The hard thing is getting things done when nobody believes in you, even when you doubt yourself. The hard thing isn’t telling yourself that you must achieve the impossible. The hard thing is toiling hard every day for years despite knowing that success is too uncertain.”

Competing with model giants with 10x more resources, how did we do it? Introducing Unified Layout Models. We designed a new structured data format for images, based on hierarchical region conditioning. We call this "layouts". Think of it as SVG for pixels.

it's officially day 1 of New York Tech Week! 🥳 We’re kicking off the week with the opening party hosted by gamma and a16z, alongside the a16z speedrun pitch day. Today’s lineup features tracks from ibm, deel, fenwick, pwc, vonage, and cloudflare, plus sessions with stripe, slack, and microsoft. here’s what’s happening on day 1: a16z & friends • 4:00 PM - Pitch Day (a16z speedrun) • 6:00 PM - Supper Club (Stripe x a16z) • 6:30 PM - Kickoff Party (Gamma x a16z) early morning & resets • 7:00 AM - Park Run (off labs) • 8:00 AM - Agents Meet (Walnut AI) • 8:30 AM - TechWalk (TechWalk) • 9:00 AM - House Mixer (Mercury) • 10:30 AM - Cafe Kickoff (Kamp) ai labs & tech giants • 10:30 AM - Quantum Computing (IBM) • 11:00 AM - AI PopUp (ElevenLabs) • 12:30 PM - AI Voice Lunch (Vonage) • 12:30 PM - Generative Computing (IBM) • 2:00 PM - Agent Engineering (IBM) • 3:30 PM - Context Engineering (IBM) • 4:00 PM - Kickoff (Deel) • 4:00 PM - AI Hypergrowth Hack (Mostest) • 5:00 PM - Multi-Model Workflow (Cloudflare) • 5:00 PM - AI at Work (Slack) • 5:30 PM - Rooftop Cocktails (IBM x Tech:NYC) • 7:00 PM - AI Founders (Microsoft) venture capital & pitch showcases • 9:30 AM - Women in AI (Fenwick) • 11:00 AM - Investor Lunch (Actuate) • 11:30 AM - Series A Raising (SVB) • 1:00 PM - AI Vibe-Coding (Mucker) • 2:30 PM - Search Panel (Mucker) • 2:30 PM - AI Finance Lunch (PwC) • 4:00 PM - M&A Panel (TRV x AWS) • 6:00 PM - Venture Night & Pitch (UATech) deep tech, defense & industry • 3:00 PM - Defense Panel (VC in DC) • 4:00 PM - US Manufacturing (Orrick) • 5:00 PM - RL Workshop (Adaptive ML) • 6:00 PM - Robotics Software (NY Robotics) full schedule at follow @techweek_ for live updates on New York Tech Week!

The iron fist of Xi Jinping’s endless anti-corruption campaign has just smashed into the highest echelons of China’s military-industrial complex and automotive sectors. In a brief but devastating announcement, the Central Commission for Discipline Inspection (CCDI) confirmed that ministerial-level official Xu Liuping is under investigation for "suspected serious violations of discipline and law." Xu is a heavyweight in state-run industry; he currently serves as the Party chief of the All-China Federation of Trade Unions and previously held the top chairmanships at major state-owned automakers FAW Group and Changan Auto, alongside a decade-long tenure at defense giant China South Industries Group Corporation. While the Party uses "discipline violations" as its standard euphemism for corruption, the targeting of a high-profile executive with deep roots in both weapons manufacturing and state automotive giants is highly strategic. It sends an uncompromising shockwave through China's state-owned enterprises (SOEs), signaling that no matter how vital an executive is to the regime's industrial and defense ambitions, absolute political loyalty to the top is the only currency that guarantees survival. #UnveiledChina# #CCDIInvestigation# #XuLiuping# #AntiCorruption# #ChinaDefense# #FAWGroup# #StateOwnedEnterprises# #BeijingCrackdown#