Collin Myers

This is the @ObolNetwork core team ❤️ 19 countries and counting 🦾 We are one big distributed validator 😂 We also clean up nicely 😎 #RunDVT

There’s not too many people who can share exactly what’s happening with the @AnthropicAI secondaries grey market @diogenes is one of the few Learned a ton from this episode - check it out

Back again. It is our pleasure to be returning to Art Basel’s Zero 10 in 2026, presenting works by two Swiss artists which approach generative systems through radically different lenses: code as exposed visual structure, and code as living ecosystem. June 16–21 Messeplatz, Basel

We're happy to present our 2026 outlook. This year is already taking shape, and the opportunity space for founders is even wider than anticipated. If you're building in any of these areas, we would love to talk to you. etherealvc.substack.com/p/the-opportun…

Chris Williamson explained to Joe Rogan what he calls "The Lonely Chapter." "The Rocky montage was 3.5 minutes. For me it's been 5 years." "Everybody that has gotten from a place where they don't want to be to one where they are... there's a point where they're so different that they can't resonate with their old set of friends. But they're not yet sufficiently developed that they've created their new set of friends." The temptation: "There's this temptation to go back to the old patterns. The old ways of thinking." On why most people don't change: "How many people do you know that have lost 50 pounds? Or moved to a different country? Or have genuinely changed the way that they see the world? It's pretty rare. It's not that common." He continues: "We are such mimetic creatures. We're so shaped by the people around us that we can't help but be tempted. If you want to go from where you are to where you want to be... you're going to have to do something that makes you more different. More weird. More easy to be mocked." On the difference between movies and real life: "You look at it and you go... the Rocky montage was 3.5 minutes. For me it's been 5 years. Where's the championship ring? I haven't won the fight. Where's Apollo Creed? None of this stuff has happened." He explains: "In the movies, sure there's ups and downs. But the athlete's self-belief never wavers. He makes the decision and it's one straight shot. I don't think that's what the experience of personal growth is like at all." The reality: "In my experience... you're just swimming in uncertainty and fear and a lack of belief that it's even going to happen. You don't know if there's glory on the other side. I don't even know if this is going to be it. And I'm doing Sam Harris's meditation app. I'm journaling in the morning. I'm going to the gym. Does this even work? You're doing all this stuff... scrabbling like a guy in a well trying to find a handhold. And if you don't have a good community of people also doing that... you're on your own." On the rocket ship: "I think about personal growth kind of like a rocket ship taking off. As you take off, you've got a particular velocity. What you want is to find other people moving at the same velocity as you. But the quicker that you move... the fewer people are going to be like you." On having to do it again: "One of the difficult realizations for people who want to change their life... if you do it well, you might have to go through a period where you let go of all of your friends." The worse realization: "If you do it really well... you might have to do that multiple times throughout your life. You find a group of people. Finally. After that period where you were on your own. And then... oh shit, I'm still going. I've outgrown them. I've got to do it again? I just thought I'd found my group. And I've got to do it again." On why few people make big changes: "This lonely chapter thing is a big deal. I think it explains why so few people make big changes. The temptation is always going to be to just go back to what's normal. Go back to what I know." The value exchange: "When you get to the stage where you're faced with some personal growth decision... you're always going to have to make this value exchange: Do I want to move forward on my own? Or do I want to go back with my friends?"

Staking revenue annualized now exceeding $300 million for Bitmine @BitMNR $BMNR

Silent agreements are over. Obol just dropped their B1 and it’s 100% complete. This is what choosing to build different looks like.

Just got back from @consensus2026 Miami. Some unfiltered thoughts on the vibes: The industry has clearly grown up. The degens are gone, the allocators are wearing suits, and your @Uniswap booth has been replaced by a JP Morgan activation with 50 year old boomers. Cautiously optimistic with a distinctly institutional aftertaste. This was not a bull market conference. Key takeaways: 1) CLARITY Act has serious momentum. Everyone at the conference basically agrees it's getting done before summer. The urgency is real, people are done waiting. And the regulatory window feels genuinely unprecedented: CLARITY Act, GENIUS Act, a CFTC chair actively engaging with the industry, this combination has never existed simultaneously before. The institutional urgency you're seeing everywhere is directly correlated to this window feeling time-limited. Miss it and you're explaining to your board why you sat on your hands during the most favorable crypto regulatory environment in history. 2) Institutions are not dabbling anymore. They are ALL IN on tokenization and terrified of missing it. No one is debating whether blockchain rails are useful. The debate is now who gets the mandate. And quietly @coinbase , @krakenfx , @RobinhoodApp and @Bullish and others are being seen more as competitors than potential partners by a lot of these TradFi players. 3) TradFi M&A is going to keep ripping. @krakenfx just grabbed Reap for $600M. Visa, Mastercard, Swift etc they can't miss the train and they're willing to overpay for the ticket. 4) Crypto VC is consolidating fast. @a16z and @katie_haun just announced $2.2B and $1B funds respectively. Meanwhile the boutique VCs are either pivoting to AI or quietly closing shop. Same playbook is happenign as traditional VC, the big platforms eat everything and the small guys scramble. Seed and pre-seed is basically a ghost town right now. Late stage and pre-IPO is where the action is. 5) Investment themes were aggressively consensus (no pun intended): Stablecoins, tokenization, vertically integrated neo-banks, regulated or permissioned DeFi. Literally everyone is trying to be a tokenization platform. Issuance, management, settlement, curation, pick your lane, slap tokenization on it, try to raise money. 6) Building in crypto is genuinely hard now. Your competition isn't some scrappy new L1 or GMX, it's @tether , @Anchorage , and @Securitize. there are now many crypto businesses running 200M+ annual Rev with serious management teams and deep pockets. The barbarians are now the establishment. New entrants are going to have a very bad time. 7) Pure token-only plays have become extremely contrarian. Controversial take but I think the biggest returns will come from a handful of tokens that can credibly signal in a compliant way that the token remains the only value accruing asset going forward. 8) A lot of teams are in a genuinely weird spot on the token/equity dynamics. Decent products, decent teams, but a complete stakeholder clusterf*** that nobody can untangle. Many of these will simply not survive. 9) The agentic finance and agentic commerce crowd was loud. The actual substance was not. A lot of big claims, very little to show for it. Feels very early and mostly vibes. Color me skeptical for now. 10) @Bullish acquiring Equinity for $4.2B was the boldest move of the conference. @ThomasFarley and @BonannoDavid now have a full-stack RWA proposition: issuance, transfer agency, tokenization, exchange and settlement under one roof. Massive move. Very positive for the industry regardless of whether you think the price or the move were right. 11) @BitMNR and @fundstrat are apparently tired of winning and has decided to let your grandma keep her ETH... for now. The pace of accumulation is slowing. Tom, we await your next allocation with bated breath. 12) DeFi apps are moving up the stack and getting smarter about it. They don't want to be the commodity infrastructure layer getting squeezed by exchanges that own distribution. Some genuinely interesting announcements, @buffalu__ at @jito_sol launching JTX being the highlight. 13) Nobody at the conference was talking about retail coming back. The entire conversation was institutional. That's either a sign of maturity or a sign that the industry has quietly given up on mainstream consumer adoption for now and is betting the next cycle gets pulled by institutional flows rather than retail FOMO. Probably both. 14) The L1 debate is officially dead. Nobody and I mean nobody was arguing SOL vs ETH or pitching their shiny new L1. The crowd that used to religiously defend their chain of choice has either grown up, cashed out, or both. Institutions don't care about your consensus mechanism. They care about settlement finality, compliance rails and liquidity. The L1 wars were fun while they lasted. RIP. 15) DATs are a mess. Had some genuinely productive conversations with a few of them but let's be honest most are an absolute clusterf*** operationally and very few are running anything resembling a legitimate business. The structure is a disaster at the stakeholder level and the governance makes your average startup cap table look clean. That said, the permanent capital vehicle concept is still genuinely compelling and I think a handful of these will turn out to be absolute home runs. The model isn't broken, most of the teams just are. Bottom line: Consensus 2026 felt like the moment crypto stopped being a movement and started being an industry. Whether that's exciting or depressing probably depends on when you got in.

James Turrell jackhammered through four and a half feet of concrete to make "Meeting," his PS1 commission that took a decade to realize ☁️ 🚧 One of Turrell's earliest Skyspaces, the work pursues what he called the juncture between inside and outside—a visceral, almost physical sensation, as though something material were suspended there. In the work, the sky advances, flattens, and rests on the aperture like a lid. Visit MoMA PS1 to experience one of the last uninterrupted frames of sky in New York City. Admission is free for all. — 📸: @kevinliangphotos @neotericslate @moshearaujo

infinite timelines spiraling below the green surface

new token transparency report from @Blockworks dropping soon 👀 $OBOL

@bneiluj Same same

Every day for the past 3–4 years, these clickbait influencers keep saying we’re “so cooked.” But after all this time… how are we still not cooked? Is there even anyone left to cook? The algo keeps pushing this crap and honestly I’m cooked from being told we’re cooked.

Building a crypto startup and need funding? We're actively writing checks and want to talk to teams building in the sectors outlined below ↓ Submit: anchorage.com/ventures

We're excited to announce we've open-sourced crypto-ctrng 🥳 It's a Rust lib that plugs cosmic entropy into anything expecting RngCore or CryptoRng No API key required. Inside: > XOR w/ OS randomness default > ChaCha20 DRBG with auto-reseed > Multi-gateway IPFS fallback > TestU01 and PractRand in test suite Use it for ECDSA nonces & threshold signatures Watch @utocif, applied cryptographer at SpaceComputer break it down at @EthCC

gm

I’ve just launched an entrepreneur networking service in Portugal - it’s called CoFounder and it’s 100% free. The goal is to create the largest map of entrepreneurs and startups in Portugal, enabling networking and potentially connecting co-founders with each other.

I started by trying to understand markets. Thirty years later I've ended up somewhere closer to life, the universe and everything. The same four rules keep showing up... Along the way I've written three frameworks that have shaped how a lot of people see the world. The Everything Code is what I found when I went looking for what actually drives markets. A debt rollover cycle, managed by liquidity, debasing the currency at roughly 8% a year. That debasement is monetary entropy. Capital routes around it, into whatever can compound faster than the entropy degrades it. Technology and crypto sit at the top of that flow because they are the intelligence layer of the economy. Markets are monetary energy routing toward the highest output of intelligence. The only assets that outperform debasement over extended periods are tech and crypto. The Exponential Age is the realisation that technology has become the substrate. Compute, networks, energy and intelligence are compounding faster than any institution we built was designed to handle, and the gap between the two is the defining tension of our time. The Economic Singularity is where this is heading. Somewhere in the next decade the curve of intelligence per unit of energy turns fully exponential, and the rules every economy we know was built on stop applying. For a long time I thought of these as three separate ideas. Looking at them now, they are three views of the same thing at different altitudes. And underneath all three, the same four rules keep showing up. Efficiency of Intelligence - The universe rewards whatever does more with less. Every system that survives is better at turning energy into information than the system it replaced. There has never been an exception. Compression - Intelligence is the act of representing a vast reality in a much smaller form without losing what matters. Brains do it. Theories do it. Prices do it. AI does it. They are not analogous. They are the same operation. Coherence - Complex systems hold together because their parts synchronise faster than the noise around them. Markets, brains, civilisations, ecosystems. When the synchronisation fails, what looks like collapse is desynchronisation made visible. Selection - Patterns that copy themselves faster than their rivals dominate the medium they live in. Genes did this in biology. Ideas do it in culture. Memecoins do it in markets. Truth is not part of the selection criteria. Replication is. It always has been. What the four rules produce, when they operate together, is networks. The same topology shows up everywhere. The cosmic web. The human brain. Mycelium beneath a forest. The internet. Financial markets. Blockchains. Across fourteen orders of magnitude, the universe keeps building the same shape. That shape is what the four laws look like when you can see them. The Everything Code is what these four rules look like in markets. The Exponential Age is what they look like running through technology. The Economic Singularity is where they are taking us. Three angles, one picture. Underneath all of it, energy is the constant. Consciousness is the substrate. The four rules are the dynamics through which one becomes the other. All of this is one corner of what I call The Universal Code. The same four rules apply to everything else and I mean EVERYTHING... they are universal in the true sense of the word.

Ethereum's dominance is on a completely different level. The network has reached an incredible milestone, 189.49M non-empty wallets. This is 3.2 times larger than Bitcoin’s holder base. And staggering result means one thing, the market has fundamentally shifted toward utility. While BTC remains the ultimate store of value, ETH is the foundational currency of Web3. Users hold it because they actively need it to transact, build, and interact across the entire ecosystem. A huge thank you to @santimentfeed for this chart.

Current ETH inflation is 0.8% per annum. If you are ready to disturb a whole industry, have investors mark you down in the "unpredictable" category because the product you build doesn't have enough organic demand to sustain a <1% inflation. Maybe the issue is with the product's demand, and no amount of tweaks and belly dancing on the infra will steer the boat.

The current price of ETH in real terms and it’s real yield are far too low for this to lead to anything but further centralization of the node operator base. I do agree that a lot of silly risk is being created to match a normalized risk/return profile beyond staking yield. If this was implemented and ETH were in and around $10k consistently than the industry would be able to take this hit without it substantially shrinking. I get it but i’m not sold it’s smart for the decentralization of the validator stack.

Actually I want Ethereum to be alive and relevant for the next 50 years and that's why I'm willing to day on the issuance reduction hill. tl;dr: "If we cut @ethereum staking issuance, we will likely kill LSTs." Nop🙅‍♂️ "Without LSTs, DeFi will shrink to the size of a penny. Without DeFi, @ethereum will lose its main value proposition." Nop🙅‍♂️ "Without its value proposition, @ethereum will die." Nop🙅‍♂️ See the chart below, this is DeFi before LST. DeFi is Ethereum’s most proven PMF and will undoubtedly remain widely used with or without LST. Nevertheless, whichever staking reduction direction Ethereum will be taking, I stand deeply convinced that LST will forever remain part of the picture. I do anticipate that the amount of ETH at stake will be lower post reduction than what it is today, but I don’t anticipate LST to be the one losing in “market share”. Furthermore I don’t anticipate the TVL of LST (and by extension the revenue of the corresponding protocols) to be necessarily reduced post issuance recalibration. Scarcity effect has been a core driver of price appreciation for crypto-assets and macroeconomics strongly support money neutrality (ceteris paribus, the value of the asset adjusts upward to a lower emission level). Ethereum and ETH both have a much wider value proposition than staking. Let me state it differently, not reducing the issuance is slowing down Ethereum’s adoption, eventually killing DeFi and more importantly causing a massive threat to Ethereum. For ETH, the issue of our current issuance regime is that we are deliberately eroding the marketability and moneyness of our beloved native asset. The current regime is stifling DeFi competitiveness, it’s not possible to compete with the staking yield for any risk equivalent product. Remember that AAVE in a normal market condition serves 1.5% on ETH, does that reflect the risk of AAVE vs the risk of Staking? Say we have 60% of ETH at Stake, the staking yield will be ~2%, say we have 100%, the yield will be 1.6%. This is not going to change any time soon, the amount ETH at stake are trending upward and will snowball as holders try to avoid dilution. Back in Dec 2020 we had no idea when, if and how we would be able to unstake so we chose a reward curve accordingly. This old decision is now forcing the hand of holders to go at stake, the yield is disconnect to the risk premium which will keep trending lower. ETH slowly dies as the pristine collateral it should always remain, liquidity on CEX and DEX dry up and so does the demand for the asset. In the meantime, LST and DeFi will try (and are already trying) to accommodate with this unhealthy trend through rehypothecation, restaking and multichainess. This is importing unforeseen risks into the system as we very recently experienced. We owe this change in issuance to all the ETH holders, to all the Ethereum users and developpers for it is necessary for the security and credibility of the network. Ethereum’s PoS was designed for an amount of ETH at stake of 20 to 30%. The paramount characteristic of credible neutrality and network security should prevail among any price or subindustry specific consideration. Staking protects Ethereum, but too much staking jeopardizes Ethereum. The credibility of large slashing events is already tumbling. Core devs and protrocol researchers have been warning us about this for years. See: issuance.wtf . Now is the time to act. Why now? The problem is getting harder and harder to tackle as time goes by while Ethereum is gowing through a critical adoption phase, we are: - Relentlessly progressing on missing interoperability features - Scaling the L1 - Catching up on compulsory privacy features for institutions and indiviuals - Sponsoring L2 at the cost of its fees - about to face the competition of a new generation of "ETH killers" We can’t afford to have weak ETH in this phase and by not acting on the issue we are all sandbagging Ethereum. Let’s fix our original staking sin once and for all. By the way, with Quick Slots in Hegota (Slot time <12s, EIP-8198) we will have to tweak the reward curve anyway so let’s kill 2 birds with 1 stone (hello @CarlBeek 👋)

If we cut @ethereum staking issuance, we will likely kill LSTs. Without LSTs, DeFi will shrink to the size of a penny. Without DeFi, @ethereum will lose its main value proposition. Without its value proposition, @ethereum will die. Do we really want to kill @ethereum?