Zach Abrams

World launches World ID Suite for banks and makes Zoom deepfake checks generally available.

This is out of the block, Zach Abrams writing.

World, the identity project co-founded by Sam Altman, launched a version of its World ID verification product for banks and for financial firms on Sunday.

Its first offering aimed at a specific industry.

I know it's a shitcoin, but w- dude, just like word of warning.

E- [coughs] Zach Abrams is bringing it to you out of theblock.co. XRP Ledger developers said on Friday that a bug in the network's payment engine could have let an attacker create XRP out of nothing.

The critical severity flaw had been in the code since 2015 according to a disclosure report, which said there was no evidence that this issue was exploited on any public network.

The bug affected how the engine totals a payment that fills many order books' offers at once.

Stripe is also a founding investor in OpenStandard, the company developing OpenUSD, which is a stablecoin that aims to challenge CirclesUSDC and TethersUSDT.

Bridge co-founder Zach Abrams recently moved to run OpenStandard full-time.

Now, Stern said that those products are meant to work closely together without locking customers into Stripe's ecosystem.

Quote, if you're using Stripe, Bridge, Privy, Tempo, OpenUSD, it should be absolutely amazing.

But the overwhelming majority of open standards equity will be distributed over time to partners based on how much they help grow the stablecoin.

CEO Zach Abrams said, I believe, Zach, Also runs Tempo, right, which is the or one of the he's related to Stripe in some way, shape or form.

And this is basically being led by Stripe.

And he's also the CEO.

But, yeah, so I think those five now are the founding partners who receive initial equity.

And actually, based on how much they participate and how much usage there is, that equity, I think, you know, is earned to some degree.

And Zach Abrams, by the way, was the CEO of Bridge, which was the stablecoin company that Stripe had acquired.

But they seemingly have an edge here because I think Stripe also was using USDC for settlement on weekends and at night.

I saw the headline.

So Zach Abrams, former CEO of Bridge, got acquired by Stripe in late 2024, which was a huge deal when you think about where this is all going for a billion dollars.

There was OpenUSD that was launched roughly six months ago um it seemed like a consortium nobody really knew what it was everyone's seen the logos before with libra and other consortiums well it came out last week that he was stepping aside from bridge stripe and he was going to be full-time ceo the thing that i missed was that five companies are backing it as the founding members i believe it's stripe visa which is interesting shopify maybe coinbase and one other uh and master is it mastercard okay so mastercard and they're committing that i think in total a billion dollars and then it's opening up the uh opportunity for others to join and the closest to this from anybody that studied visa and their consortium model was like a pay and equity component of the amount of like revenue and um you know dollars created in this world would be give you like attribution to whether it's the the revenue or equity I thought that was super fascinating, A, from the stablecoin front and what does it look like in the future and just day-to-day meat space merchant services, but then also obviously online, what is it going to look like for the adoption for all this stuff? From people that are in the middle of seeing all of the transactions, people forget Stripe and AI usage.

It's like the defacto default for payments, especially the link location.

With $2.4 billion weekly inflow, their largest since last October.

This is from The Block written by Zach Abrams.

U.S. spot Bitcoin ETFs took in more money last week than in any week since October of 2025.

Enough to flip their 2026 net flows positive two months after they were nearly $6 billion in the hole.