Let's run a little thought experiment: Imagine someone managed to compromise the USDC admin key and mint, say, ~$3B. That USDC would be immediately sold for uncensorable assets (BTC, ETH, DAI, etc). Circle would, as soon as they can, pause() USDC while they decide their next

A factor in my exit from Consensys was the stupid amount of head-space it was taking responding to the SEC's unhinged subpoenas, though our fabulous legal team bore 99% of the load. They eventually hired an entire lawyer just to work on this. Arbitrary and capricious indeed.

“Ethereum has scaled” It’s laughable that this is in the past tense, we’re taking some of the first steps now, but we’re orders of magnitude short of where we need to be. In the greater scheme of things, all blockchains are still very slow. 3/8

I heard OTC desks are running out of dollars because there is so much Bitcoin selling going on.

unbelievable

This is the same week. I want to be absolutely clear: I take the commitments made in the Trustless Manifesto very seriously and personally (I called `pledge` myself and I walk the talk). Watching the EF throw its weight behind a US-compliant, freeze-friendly stablecoin

Consensus via PoW is one of the most beautiful and simple technologies computing has ever seen. Not to say that PoS and zk aren't great innovations, but depicting them as more elegant than PoW is wrong.

If anyone left on earth is wondering what we meant by hostile sec Amanda was genslers right hand No law degree, no understanding of the tech, just seething politicized hate for DeFi Obv our lawyers don’t think uni is a security, before or after unification

I don't see a single issue with any of this. This all... standard practice and good execution? How is raising from VCs and then paying for core services some kind of knock lmao. The real issue with CT is most of the biggest accounts have zero real business experience.

Fun fact - I met with SBF about 2 weeks before the crash He wanted me to back the horrible bill they were pushing I said no, obviously, since it would have destroyed our industry Dude looked pretty wired, like he was on meth In that convo he told that they were in talks

there's actually a really good tax arb here: i need my roof re-tiled, but i'm not in a rush. i'm ok with having it done a year from now. i open a prediction market for whether someone will fix my roof and load the market price of the service into "no". i talk to some roofers

This is just completely backwards. Profit is the measurement of economic surplus. If we are blessed, automation will maximize profit. If that happens in a competitive open market it means the surplus is split between the consumer and shareholders. If someone made a fully

“If I put $100 in Bitcoin in 2010 I’d have $2.8B now.” No. If you bought $100 of Bitcoin in 2010 and watched it go to: $1k → $100k → $1.7M and did nothing Then watched $1.7M go to $170k and still did nothing Then watched $170k go to $110M and still did nothing Then

Crypto got everything it wanted - ETFs, adoption, legitimacy - and prices are still down. We valued casino flow like recurring software revenue. “Dear LPs, we outperformed ETH… and still lost 80% of the fund.” Full post: open.substack.com/pub/obviously/…

This is a terrible model for companies btw

If someone asked what my main worry about Ethereum (and POS secured blockchains generally) is today, i would reply it's the growing price divergence between ETH & stETH When staking was initially constructed, it was viewed as a risky activity that not everyone would partake in

🚨Mohammed bin Salman: "Before I came here someone told me that there are betting sites where you can bet on me wearing a black suit and if you bet on me you could get almost a 17x. Sorry, you lose the bet. Better luck next time!" 😂😂😂

>"rust caused the cloudflare outage" >look inside >unwrap() in prod