Everything Zach Abrams said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Solana is still not great for payments, Abrams argues
“Solana is a great blockchain for a lot of use cases, but it's still not great for payments.”
Ethereum captures minimal value compared to Solana, Abrams argues
“And like Ethereum, wild value creation, like of all the blockchains, minimal value capture. Whereas there are a bunch of others where, you know, like Solana is probably perfect, you know, value creation, value capture.”
Abrams: US dollar stablecoins will maintain outsized dominance forever
“I think you're going to see while like, you know, fiat US dollars are x percent of the global market, stablecoin US dollars are going to be, you know, way more forever.”
Tether will still not pay yield in five years, Abrams predicts
“No.”
Trading will shrink to 5% of the stablecoin market, Abrams predicts
“That being said, I think that the trading use, use case was like a hundred percent of the market two years ago was 80% of the market today, and, you know, will be five percent of the market in, in some number of years.”
All corporate treasuries will ultimately move into stablecoins, Abrams predicts
“So I think that ultimately all like corporate treasuries will move into stablecoins.”
Building outside tech hubs shields early founders from peer status games
“As you're starting a company, especially in the early phases, there is an immense desire to benchmark yourself versus everyone else. And there's always going to be someone who's growing faster. He's in a hotter space. Who's like more popular than you are or wh…”
SpaceX uses Bridge to repatriate Starlink revenue via stablecoins, says Abrams
“SpaceX came to us, they're selling Starlink all over the world. And so as a result, they're collecting local, so people are paying for Starlink and, you know, dozens, many dozens of different countries with their cards. So they're getting local currencies in a…”
Abrams: Crypto FX markets are more efficient for startups than large enterprises
“The interesting dynamic at play is that in the fiat FX markets, as you get bigger, your pricing comes down. In the crypto markets, as you get bigger, your pricing goes up because the spreads widen. So the market is way more efficient for startups.”
Consumers will access the risk-free rate via stablecoins within a year
“I think that pretty soon, like, in the next year, any consumer who wants access to the risk-free rate is going to have access to it.”
Abrams: There will not be separate company blockchains for Stripe or JPMorgan
“There's not a world where there's like a JP Morgan chain and a Stripe chain and a Bank of America chain and there's like a thousand, you know, unique company, company blockchains. That's not going to happen.”
Acquired startups that remain entirely independent create negative synergy, says Abrams
“If you totally stay independent and you don't do any form of integration, there is like, One plus one equals maybe two, but probably less than two. Almost certainly, like, definitionally, you are setting yourself up for less than two.”
Products sold exclusively to crypto companies are unlikely to succeed
“One of our realizations was that any crypto product that is, like, sold Two crypto companies is unlikely to be successful. That was, like, my biggest takeaway is, like, they definitely have problems, and there are things that you could build to solve problems …”
Circle’s stablecoin APIs were 'really bad' in 2022
“There was like circle at the time kind of had some APIs, but they were really bad. And we realized there was no clean way for a developer Like a strike effectively a strike style API for a developer to come in and take a dollar and convert it into a stable.”
Founders building crypto in SF in 2023 were true believers
“If you show me a person who's building something in crypto, living in San Francisco, and was working on it in twenty-twenty-three, I will guarantee you that they are, like, a true believer and probably excellent.”
Abrams: Bridge considered wallet-as-a-service before rejecting it as a competitive tar pit
“One of our first ideas was to build wallets as a service, and which was obviously your business. At the time, I don't think that You, maybe you existed, but at least it wasn't, you weren't on our radar at all. And I remember looking at the space and being like…”
Abrams: Open-source stablecoin rails will outperform traditional financial stacks over time
“The companies who are building on top of this are behind today, but basically making a bet that the cumulative power of all the builders in the world is going to create a better application over N years.”
Local currency stablecoins will reach 20% market share, Abrams predicts
“But I do think we, and I hope we get to local stablecoins being 15, 20% of the market, because you need them transactionally in all these markets, and you want to have alternative FX markets, and you want people to be able to store in local currencies.”
Abrams: European MiCA compliance will tighten and look very different in five years
“And then over time they're going to clamp down and the, what it looks like to be compliant in Europe will probably be different, very different in five years versus today.”
Abrams: Simultaneous card authorizations against a crypto balance can double-spend
“If during the exact same moment, two transactions are authorized at the exact same time on the same card from the same balance, then both would, in theory, be approved.”
Abrams: Bridge issues stablecoins with Phantom, MetaMask, and Hyperliquid
“And today we're issuing stablecoins with Phantom, we're issuing stablecoins with MetaMask, we're issuing stablecoin for Hyperliquid.”
Stablecoins will ultimately recede into background infrastructure, predicts Abrams
“There will be, ultimately, these stablecoins will recede into the background purely as infrastructure.”
The post-FTX crypto fallout wiped out Bridge’s competitors for a year
“What happened was like over the course of a year, there were like, you know, a whole bunch of failures in the space and their company was impacted by it, indirectly impacted by FTX and so on. And that essentially just, like, nuked the competitive landscape for…”
Bridge launched the exact week SVB collapsed and USDC depegged
“The one thing that was, like, truly existential, Was when SVB went under, and USDC depegged, because, and that was the week that we launched.”