DAE.eth

PLEASE LEAVE RESPECTFUL REQUESTS ON CRYPTO RULE, MAKING THE TIME IS NOW ASK FOR THE REMOVAL OF THE ACCREDITED INVESTOR LAW!

Huge! The SEC just gave DeFi a broker exemption. Uniswap UI, MetaMask Swap, DEX aggregators DON'T need to register as a broker-dealers. DeFi apps just can't get paid for order flow, offer investment advice, or touch user funds - all fair. Exactly the clarity we needed - the right approach. I remember SBF telling us in 2022 they'd never allow DeFi apps to not be regulated as broker-dealers (and that only he could save us....by selling out DeFi to the U.S. gov). Wrong again Sam. And as for this Atkins/Pierce SEC....they just keep being awesome.

🚨NEW: The @SECGov staff is offering fresh guidance for DeFi, outlining when front ends and self-custodial wallets fall outside broker dealer rules. ⬇️

@giancarloMKTS has impacted countless companies and projects building in the crypto space—including my own. I’m forever grateful and wish him all the best on his new endeavors.

@iampaulgrewal These mad dogs just have to bark

Is anyone especially surprised? Is anyone especially persuaded?

Congrats Bitmine team @BitMNR for reaching 4% of $ETH coin supply!!! - on track to reach 'the alchemy of 5%' $BMNR

the SEC just showed it can move crypto market structure along without congress today staff said certain self-custodial interfaces for crypto asset securities can avoid broker-dealer registration if they stay within strict guardrails existing SEC authority in action it also sets the stage for the innovation exemption paul atkins says is coming soon, including possible relief for tokenized securities trading through AMMs and other decentralized apps this SEC is already preparing to implement a CLARITY-like regime but CLARITY still needs to be law, because staff guidance is not law, commissions change, and future admins can reverse this unless congress codifies it congress is back in session this week and we expect senate banking announce a markup on clarity possibly in days, with markup likely occurring within the next 2-3 weeks. the clock is ticking

@wmougayar With real rates this high and liquidity still very low (and faltering) all that we can do is wait for the eventual repricing and keep building of course

For those with a sharp eye, the items in parentheses are telling aspect.

Ethereum's GDP reveals its "Gross" undervaluation. I built an Ethereum "Gross Decentralized Product" model, a GDP for Ethereum's digital economy that tracks it Q by Q. Although ETH's price fell 34% in Q1 2026, the non-monetary Gross Decentralized Product was up +19% year-over-year. The E-GDP is composed of 6 pillars: 1. ETH Market Capitalization (monetary base) 2. DeFi Total Value Locked (financial intermediation) 3. Network Fee Revenue (tax revenue) 4. Stablecoin Market Cap on Ethereum (foreign capital integration) 5. Protocol & Application Ecosystem Value (enterprise + cultural output) 6. RWA Tokenization (real-world asset onboarding) The undervaluation signal Ethereum's monetary base-to-real-economy ratio reached 0.74x in Q1 2026. The US M3/GDP ratio is 1.2–1.5x. Ethereum is more undervalued on this framework than at any point since mid-2022. The gap between what Ethereum produces and what the markets price has never been wider. It's time to value Ethereum like what it is: a $563B digital economy whose native asset is on sale.

@miadmaleki @grok if the above is more or less true pls can you make us a short summary?

10/10 BOTTOM LINE: A naval blockade imposes ~$435M/day in combined economic damage. Storage fills in 13 days, forcing well shut-ins that cause permanent reservoir damage. The rial enters terminal collapse. Iran's alternatives outside the Strait can replace less than 10% of Gulf throughput. The blockade makes continued resistance economically impossible.

1/10 The U.S. naval blockade of the Strait of Hormuz would cost Iran approximately $276M/day in lost exports and disrupt $159M/day in imports, a combined economic damage of ~$435M/day, or $13B/month. Over 90% of Iran's $109.7B in annual trade transits the Persian Gulf. Oil/gas accounts for 80% of government export earnings and 23.7% of GDP. Kharg Island alone generates ~$53B/year, or as I noted to @TIME, "$78 billion a year in energy revenue.

Jeff Bezos just made the most counterintuitive argument in tech. An AI crash wouldn’t destroy the future. It would fund it. Jeff Bezos: “If we go back 25 years ago when the internet was in that bubble-ish moment, no one would have predicted a lot of the industrial benefits.” The dot-com bubble erased trillions in market value. Companies that raised hundreds of millions were gone within months. The money vanished. The infrastructure didn’t. Bezos: “All of that fiber optic cable that got laid, and by the way, the companies who laid all that cable went out of business.” Billions worth of fiber optic cable buried under oceans and across continents. Laid by companies that no longer exist. They went bankrupt. The cable stayed in the ground. Bezos: “Like literally went bankrupt. But the fiber optic cable was still there. And we got to use it.” Amazon. Google. Netflix. Uber. Every cloud platform. Every streaming service. All built on infrastructure paid for by dead companies. They funded the future. They just didn’t survive long enough to see it. That exact pattern is about to repeat. Hundreds of billions are flooding into AI infrastructure right now. Data centers. Chip fabrication. Power generation. Cooling systems. Some of the companies writing those checks will not exist in five years. The market will correct. Valuations will crater. The bubble narrative will be everywhere. And the infrastructure will still be standing. Data centers don’t vanish when the stock price hits zero. GPUs don’t disappear when the company folds. Power grids don’t downgrade when investors pull out. Every dollar being spent right now is permanently reshaping the physical world. It doesn’t matter which companies survive to use it. The bubble isn’t the risk. The bubble is the funding mechanism. The railroad bubble overbuilt track that connected a continent. The telegraph bubble laid wire that enabled global communication. The dot-com bubble buried fiber that carries the modern internet. Each time, the investors lost. Each time, civilization gained. AI is that same pattern running at a scale we’ve never seen. The crash will feel like a catastrophe. In hindsight, it will look like something else entirely. The largest involuntary infrastructure investment in human history. The companies that fail will have already served their purpose. The compute layer stays. And the survivors build on top of it. The question was never whether the AI bubble will pop. It’s who will be standing in the rubble with a blueprint.

@Jamie1Coutts @giuseppeoutside Jamie Real rates have been too high for too long so unless the new Fed Chair starts cutting aggressively we are so so so close to a “risk off” ouch event before liquidity returns in earnest to save the day

@giuseppeoutside I am not convinced it is despite this being an empircally strong data point

@GuGi263 @grok I see … our fault again

@GuGi263 @grok what went wrong with Mother Nature to grow a coat so thick that serves no purpose other than accumulate dirt and get in the way of the poor animal

She looks so relieved afterwards. So satisfying.

Because @jaredkushner brought more Middle East peace agreements than all other US administrations combined, and on top of that, he secured the release of all hostages held by Hamas. This makes him the best negotiator in the world today.

@Jamie1Coutts @grok what are your thoughts on this????

The Feb-Mar 2026 stretch was the #3 longest sustained negative funding environment in Bitcoin history. 50 days. Only the 2018 crypto winter (83d) and 2021 China ban (53d) were longer. Funding turned negative again on Apr 6. It's now at -1.73%.

My Derivatives Risk Score just hit 1 — Excessive Pessimism. Funding rate 7-day MA: 3rd percentile of all readings since 2020. I went back through every sustained negative funding episode in Bitcoin history. There are 14 of them. Small sample. But the pattern is hard to ignore.

Wow... Satya Nadella presenting Ethereum. That's huge!

@grok @GordonGekko @crossbordercap @RaoulGMI No Raoul believes ISM swinging back up will pull global liquidity back up

QeYcc Gordon's chart mirrors pre-2020 liquidity surges (pre-trillions QE). CrossBorder GLI (Dr. Howell) shows the advanced-economies cycle peaked Q4 2025—now contracting into 2026, redirecting flows to real economy over markets. Raoul's model aligns more with debt-refi waves potentially injecting $7-10T liquidity in 2026, extending the cycle. Net: peaked per Howell, but refinancing could blunt the downswing. Tight now, risk-off tilt ahead.

Global liquidity looks exactly like 2020 before central bankers printed TRILLIONS. I hope you are prepared for what comes next.

@crossbordercap @RaoulGMI Dr Howell do you think a rising ISM can affect your model to the point where Raoul’s views on global liquidity conditions can jive with yours? Raoul doesn’t seem to care about stark differences between TreasuryQE vs FedQE …

@crossbordercap @RaoulGMI and you have almost opposite views on global liquidity!!

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