J.P. Morgan’s Solana Power Play, Kalshi vs. Polymarket Distribution Wars & More

Welcome back!

This is J264G and this week I’ve got these titbits for you:

• Commercial Paper: J.P. Morgan arranges commercial paper on Solana.

• Prediction Markets: Phantom introduces in-wallet prediction markets.

• Validator Client: Firedancer goes live on Solana’s mainnet. 

J. P. Morgan’s endorsement of Solana matters because real innovation in capital markets doesn’t come from hype cycles, but from institutions quietly testing faster, cheaper infrastructure that can compound into systemic change.

Now, let’s jump right into this week’s newsletter!

Click on any underlined heading/hyperlink to learn more.

Spotlight

Financial Surveillance

The decline of cash has brought a profound erosion of privacy.

In the past, paying with paper money meant anonymity; no institution tracked where you stood, what you bought, or whom you interacted with. The simple act of handing over a banknote—once an unremarkable, private moment—has become a rarity in a world that increasingly demands digital traces for even the smallest transactions.

Today, nearly everything we buy is logged in a database. Banks, payment processors, and fintech apps record each payment, silently assembling a detailed dossier of our purchases and preferences. With enough data, these profiles reveal intimate aspects of our lives: our routines, our weaknesses, our health, our relationships, our interests, and even our beliefs.

What used to be ephemeral has become permanent.

Having said that, privacy is a fundamental right, and we should all have access to it. Just as free speech and property rights are pillars of a free society, financial privacy deserves equal standing. Yet, we have drifted into a system where surveillance is the default and privacy the exception. Most people never explicitly consented to this shift; it simply happened as convenience overtook caution.

It doesn’t have to be this way: blockchain technology promises to restore privacy without sacrificing security.

Modern encryption and privacy protocols already enable fully verifiable transactions that reveal no personal details. In short, a blockchain can prove that money moved correctly from A to B without disclosing who A or B are, or how much was sent.

Consequently, more people could soon transact freely without feeling surveilled, and businesses could operate without exposing sensitive data. Done right, the next era of finance can give us the convenience of digital money and the confidentiality of cash.

It’s a future where privacy is non-negotiable—and one we should strive to achieve.

Chart Of The Week

News Bites

Prediction Markets: Phantom has introduced in-wallet prediction markets powered by Kalshi. Users can browse hundreds of markets spanning sporting events, politics, and cultural moments, with odds adjusting in real time. With this integration, the Kalshi vs. Polymarket distribution wars are rapidly intensifying.

Commercial Paper: J.P. Morgan has arranged Galaxy Digital’s commercial-paper issuance on Solana. The short-term debt instrument was settled in USDC and purchased by Coinbase and Franklin Templeton. 

Liquidity Fund: State Street and Galaxy Digital plan to launch a tokenised liquidity fund, SWEEP, on Solana in early 2026. The vehicle will use PayPal’s PYUSD stablecoin, issued by Paxos, to enable continuous investor flows across global time zones.

Validator Client: Firedancer, a high-performance validator client three years in the making, has gone live on Solana’s mainnet. The rollout marks a significant step in Solana’s efforts to diversify its client stack, strengthen network resilience, and tees up the infrastructure needed to hyperscale.

Securities Tokenisation: The U.S. Securities and Exchange Commission has granted approval for the Depository Trust and Clearing Corporation to build a tokenisation programme for securities. The DTCC will now proceed with a pilot covering stocks, ETFs, and Treasuries, slated to begin in the second half of 2026.

Caught In 4K

Weekly Take

Keks & Giggles

And that's a wrap!

You can reach me anytime over on 𝕏 or drop me a line. 

Talk soon!

J264G

_{DISCLAIMER
None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. Lastly, please be advised that we discuss products and services from our partners from which our team members may hold tokens/equity.}