Daniel Gerhardstein 🦬

The SEC took an important step on UIs - and now we’re asking them to lock it in. On April 13, 2026, the SEC published a staff statement with a thoughtful, practical approach for distinguishing non-custodial user interfaces from activities that constitute broker-dealer activity. DEF and 35 industry leaders are now requesting the SEC formalize the principles in the statement in notice-and-comment rulemaking, so we have durable regulatory clarity that lasts.

Bradley Cooper made creatine sound like a legit daily upgrade on Joe Rogan. He naturally bulked from 84 kg to 108 kg (185 to 238 lbs) for a role, then restarted creatine while joining a push-up challenge with other dads at his kids’ school: 150 push-ups a day (or pay $10 into the pot). Hit 800 total and the winnings fund a Chinatown meal. Creatine kicked his strength and consistency into high gear. Joe added that it’s incredible for the brain too — and science backs it: studies show creatine monohydrate can improve muscle strength, speed up recovery, and even support memory and cognitive processing speed. Bradley joked he can’t tell the brain difference because of all the Zyns he chews, but the gains speak for themselves. Cheap, safe, and effective — no wonder it’s quietly becoming a staple again. Who else is taking creatine right now — and have you noticed real differences in strength, recovery, energy, or mental sharpness?

1/ PropAMMs and the Next Chapter of Permissionless Market Structure For years, onchain trading won on access, lost on execution. Some feel better performance requires moving backwards to centralized systems PropAMMs on @solana are proving permissionless can outcompete centralized

We applaud the bipartisan Promoting Innovation in Blockchain Development Act of 2026 introduced today by @RepFitzgerald, @RepBenCline, and @RepZoeLofgren. The targeted fixes in this bill will help to strengthen US leadership in the infrastructure of the future by creating a regulatory environment that allows builders to build without fear of prosecution for writing code. defieducationfund.org/promotinginnov…

The Blockchain Regulatory Certainty Act (BRCA) provides critical protections for software developers of non-custodial, decentralized technologies - ensuring they will not be inaccurately and unfairly treated as “money transmitters” under the BSA and criminal law. The BRCA, which was in the Senate Banking Committee’s September 2025 draft of market structure, is a necessary part of any digital asset legislation. We are grateful to Senators @SenLummis and @RonWyden for the productive, bipartisan policymaking, and their continued work to protect software developers from inappropriate regulation. The BRCA must be included in market structure legislation, and we encourage all Congressional leaders to join Senators Lummis and Wyden in prioritizing clarity and protections for software developers building our financial future

Congratulations @michaelselig !

What an incredible week - I'm so proud of what the teams working on @doublezero managed to build in less than a year. To date there are - Two core contributor enginering teams, @MalbecLabs_xyz and @jump_firedancer - 11 independent contributors of fiber to the network - 70+ fiber links - 370+ @solana mainnet validators with 25% of stake operating on DoubleZero Our community of validators, RPCs, fiber contributors, and of course stakers has a lot to celebrate this week. Thank you for putting your turst in us 🙏 There's much still to build –– let's get at it. (Also our launch video is unmatched -- thank you @Star_Wipe and team)

The SEC rarely issues no-action relief in crypto. But earlier this week, DoubleZero was issued a No-Action Letter for 2Z. The first-of-its-kind No-Action Letter gives us confidence that 2Z does not have to register as a class of “equity securities” and that programmatic flows of 2Z on the DoubleZero network are not securities transactions. TL;DR: There is now a path to launch a token in the U.S.

Excited to see @michaelselig reportedly under consideration for CFTC Chair. Mike’s experience, including his recent work on the SEC’s Crypto Task Force, would be critical in leading the CFTC on crypto issues and broader SEC-CFTC harmonization.

Congratulations @doublezero on its No-Action Letter which marks a historic moment for regulatory clarity in America!

Proud to share that the @SECGov has issued @DoubleZero a No-Action Letter for 2Z. 🦅🇺🇸 The first-of-its-kind No-Action Letter gives us confidence that 2Z does not have to register as a class of “equity securities” and that programmatic flows of 2Z on the DoubleZero network are not securities transactions. This represents four months of constructive engagement with the SEC to establish a clear framework for compliant token launches in America, and a landmark moment for the crypto industry. ↓

The new market structure draft from Senate Banking has the best developer protections language we have seen to date. Still digging into the rest of the bill, but this is worth celebrating immediately. Could not be more thrilled to see @BankingGOP include an amendment to Section 1960, the criminal code provision related to unlicensed money transmission, in this draft. In addition to including the BRCA and *comprehensive* software developer and self-custody protections - which are so important to protecting developers - this is what we came for. Not only does this make it clear that a person needs control over assets to be considered a money transmitting business operator, it extends the applicability of this section retroactively.

The U.S. Department of Commerce has selected Pyth Network to verify & distribute economic data onchain 🏛️ Today’s announcement by @howardlutnick & @realDonaldTrump marks a landmark step for the adoption of decentralization & validates Pyth’s role as a trusted data source 🧵 ⬇️

1/ CLOBs have been TradFi's backbone for decades, but on-chain they create new problems: latency arbitrage, MEV, toxic flow, and higher costs for traders. The ecosystem needs better market structures. Enter: Dual Flow Batch Auctions (DFBA).

This week marked the kickoff of the @BlockchainAssn Member Listening Tour. First stop: Chicago 🇺🇸 Grateful to @colleenklein @kkirkbos @d_gerhardstein @_JonSabol @DRWTrading @CumberlandSays @jump_ @jump_pit @CMT_Digital @StarkWareLtd @brettharrison @Architect_Fi @BHDigitalAssets & @AptosLabs for sharing their priorities, challenges, & perspectives on #DigitalAssets regulation, market infrastructure, and innovation — helping shape the road ahead for our advocacy and programs.

Today, the DeFi Education fund team submitted a response to DeFi-related questions posed by @BankingGOP’s Digital Asset Market Structure RFI & recently published discussion draft of market structure legislation. We are honored to have leading DeFi builders, investors & advocates join and contribute to our submission: @a16zcrypto, @jito_labs, @jump_, @multicoin, @paradigm, @SolanaInstitute, @UniswapFND, @Uniswap, and @variantfund.

Stablecoins already play a pivotal role in the digital asset industry and are poised to reshape how value and collateral move through our economy. The GENIUS Act supplies the clear, common-sense rules needed to unlock that innovation in the United States for generations to come.

CLARITY represents a milestone of a legislative accomplishment to bring much needed certainty for builders and market participants. Market structure legislation is important to allow the digital asset industry to thrive in the USA. Congratulations to @FinancialCmte and @HouseAgGOP on the successful cross-committee, bipartisan product. @jump_ looks forward to engaging with the Senate to finish the work on this pivotal legislation.

Hot Storage .. Designed for Performance .. Cost Competitive Excited to build with @AptosLabs - @shelbyserves : critical infrastructure for the decentralized ecosystem While blockchains today have mostly solved the ability to execute code, they cannot access large datasets. More importantly, they cannot SERVE large datasets at scale and speed Hence, we are building Shelby Shelby exists to make decentralized storage fast, affordable, and reliable - shelby.xyz

We are excited to engage with builders and policymakers to shape the future of financial markets.