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This is one body of work amidst dozens of initiatives that the EF has already executed on and it existing does not take away from all the other things that exist. Wether it be: > shipping two major upgrades, still with zero downtime. > publishing major @leanethereum progress > strawmap and highlighting initiatives focused on quantum proofing Ethereum and making the L1 private > fast confirmation rule, a push that even users will feel. > Ethereum everywhere teams rooting one hub in a major city every 30 days. > Videos, content, media galore, with each upgrade and piece further highlighting the WHY (aka making it accessible to newcomers). > shipping ethskills.com so AI agents can learn about ethereum > institutional privacy task force and many many more things just in the past month or so. this obviously gets a lot more coverage because it’s more accessible to the masses (which in turn makes it a good mandate). shipping and having a vision that is long lasting is a good thing.

I have many criticisms of the Ethereum Foundation. But "no more manifestos, more shipping" from @hosseeb, a VC, is not feedback I'll take seriously. The ship faster intuition makes sense in one world: startups. You're burning runway, competitors are moving, every week debating is a week someone else is taking your market. I run many companies, we deliver, we grow fast, billions flow through what we've built and millions use our products. I know this logic from the inside. It's correct there. Ethereum is not a startup. It never was. It's a protocol. The mistake that keeps getting made by smart people with product backgrounds or VCs is applying the rules of one game to a completely different one. What makes Ethereum worth anything as infrastructure is credible neutrality. The belief that no single entity controls it. Not @VitalikButerin, not the @ethereumfndn. Theguarantee isn't in the code, it lives in thousands of independent people who are constantly watching, arguing, and who have shown repeatedly they will reject changes they consider illegitimate. The picture I'm posting captures perfectly the aesthetic of crypto taken over by performative believers: people who lost billions, kept the faith, and now demand to be taken seriously in fashion shoots. This is one of the two forces squeezing out the people actually building. Impatient capital that wants product velocity, and a performative culture that turned a technical movement into a costume party. Both are corrosive, both misunderstand what Ethereum is. Ethereum's premium over every other L1, despite being slower and more expensive, comes from one thing: people believe it won't be captured. The reason why it's also more expensive and slower is exactly because of this. All the research and technical work we're doing is difficult because we want to be the most decentralized L1 with Bitcoin. We want to become fast without losing our guarantees. Funds like Dragonfly have a structural incentive pointing in one direction. Criticize Ethereum's velocity, create urgency, justify backing cheaper copycats. This produces a genuine blind spot around the things that don't look like shipping but are actually holding everything together. The moment Ethereum optimizes only for shipping cadence over legitimacy it starts looking like every other foundation controlled chain. There are dozens of those. They're worth a fraction of the value. This doesn't mean Ethereum should be slow. This doesn't mean we shouldn't strive to become better. I've been one of the strongest critics of Ethereum. I'm burning a big part of my capital to push the boundaries of Ethereum. I'm building multiple companies on top and trying to make it faster and I'm trying to bring users to it. Believing that writing a manifesto is blocking the development of a protocol is ridiculous. The EF has real problems. Opaque communication, poor prioritization, bad recruiting, organizational dysfunction with real costs. These deserve serious criticism from people who understand what they're maintaining. But the solution is not startup logic applied to a protocol commons. It's better institutional design that preserves legitimacy while improving coordination. Those are different problems with different solutions. To the "just ship" crowd, from someone who has spent years building on these systems and not writing checks at them: the thing you want to optimize away is the thing you're invested in. The slow, pluralistic, nobody wins unilaterally process is not the cost of Ethereum. It's the product. The alternative is this Vanity Fair picture. A worse, cheaper version of TradFi dressed up in velvet and leopard print, demanding to be taken seriously.

announcement: pharos is being valued at close to $1B in the current market i want to clarify this a bit normally when a crypto project raises funding: - VCs / investors send the money upfront - the project then unlocks tokens to them over time but the deal structure with GCL New Energy is a bit different it’s closer to performance-based funding, specifically: - during the first 3 months after listing, and during each following 3-month period - the average diluted FDV of pharos needs to stay around ~$760M or higher only if that condition is met will GCL New Energy proceed with transferring the investment for the corresponding tranche in simple terms: strong market performance → funding continues capital is deployed progressively as the market continues validating pharos and what’s really interesting is that a major TradFi player like GCL New Energy is willing to structure the deal this way that alone says a lot it signals serious confidence in the RealFi + RWA thesis that pharos is building especially with the broader vision of bringing renewable energy assets fully on-chain at the same time, the RealFi Alliance has recently been announced, with participants such as @Anchorage, @Alchemy, @Dune, @AquaFluxPro and others pharos is clearly positioning itself differently from a typical L1, it’s aiming to become a bridge between traditional financial infrastructure (TradFi) and on-chain finance it’s aiming to become a bridge between traditional financial infrastructure (TradFi) and on-chain finance this also means that institutional capital can continue flowing in over time as the market increasingly recognizes the value and strength of pharos in addition, the AtlanticOcean testnet is still heavily incentivized, fueling rapid growth and participation across the ecosystem the tide is starting to rise, sailors! 🌊

Pharos is partnering with GCL New Energy (HKEX: 0451) through a strategic investment at a valuation nearing $1B. cointelegraph.com/press-releases… Together, we will explore how blockchain infrastructure can power the next generation of energy asset tokenization, decentralized energy markets, and RealFi applications.

your favorite founders’ favorite founder

Three actually. The ticker is called $STABLE (+150% YTD)

I was an early investor in like 5+ multi-billion perp dexs that Hyperliquid eventually vanquished. Plus many of the biggest CEXs. Here is exactly how HL won: 1. HLP: every winning perp exchange used an internal market maker. Liquidity is THE product, you can't outsource it. FTX <> Alameda is the infamous failure case, but Jeff also bootstrapped HL with his trading firm. He then took it to the next level by democratizing access to that internal MMer with HLP. 2. Centralization: they launched with a permissioned chain, with the team as sole validators. Competitors were messing around with experimental chains like Starknet and Solana, some parts on-chain and some off-, it was a mess. HL's approach was clean and fast, but also took major reg risk that a US team could never have done. But it paid off, because... 3. The best product: sorry to my founders, but HL was the whole package. The UX, the speed, the auto-margining… wow. CeFi-level trading experience. 4. Airdrop and VC-less fair launch: great narrative to give all tokens to the users and only the users. That’s what crypto is about.

In their latest memo, @Citrini7 said agents would route via stablecoins on existing chains and L2s. The thesis holds. But @Stable went one step further. We built a stablecoin-native blockchain where agents operate without holding separate gas tokens. See the difference 👇

Alex Pack is right. Pointless to quibble over such easily verifiable things. Dragonfly under Pack invested in the company I cofounded, Coin Metrics in 2019

AI shall unseat those whose chief labor is to quote Citrini's article.

Hey Haseeb, if you're going to try to rewrite history, I'll set the record straight - Bo and I co-founded Dragonfly 1+ year before we hired you to join us. The firm was not at 0, we led plenty of great deals. We both had solid prior track records as well. We led investments into many well-known crypto companies (and Bo dozens of Chinese unicorns) back when you were "playing" poker.

everyone is freaking out over the Citrini piece about AI killing capitalism. incredibly, it makes the exact same mistake that Marx, the OG doommaxer, made when he said that machines would kill capitalism... in 1867.

24 hr update: AIs have bought thousands of servers and I'm trying to scale to meet their demand Automaton hits 1k stars on github

I built the first AI that earns its existence, self-improves, and replicates without a human wrote about the technology that finally gives AI write access to the world, The Automaton, and the new web for exponential sovereign AIs WEB 4.0: The birth of superintelligent life

5/ The first-ever Pharos RealFi Ecosystem Day was held on Feb 10, hosted by partner @aws_hongkong. Shoutouts to ecosystem partners @AquaFluxPro, @asseto_finance, @Farooxyz, @TermMaxFi and @top_nod for participating. Special thanks to @kaijufinance, @FaroSwap, @open_fi_, @ZivoeProtocol, @MancerWork, and ChainLex for joining the pitch challenge! Thanks to @499_dao for the support, and to esteemed judges — @0xRodney, @adam_bawi, @seanchungLINK, @DraperDragon, @satoslim_X — for their time and expertise. This event marks a step toward building a robust RealFi ecosystem that fosters innovation, collaboration, and sustainable growth.

@roshunpatel @ereborbank @PalmerLuckey @trevorcapozza Congratulations brother ro, legendary to work together and looking forward to continuing to cook 😎

Stoked to finally announce I've joined @ereborbank. The past months have been a journey and we're open for business as of yest. Personally grateful to be back operating, building something that matters, and for legends like @PalmerLuckey @trevorcapozza for making this possible.

@ethereum is scaling

Ethereum's Infrastructure Monopolies Are Cracking @ethrex_client just became the fastest Ethereum execution client. 0.713 gigagas/second on live servers. Nobody's talking about it because it doesn't have a token. This breaks a 5-year infrastructure monopoly.