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With all the wars and crises going on in the world, let's discuss arts. Russia is back at the Venice Biennale. This is not just art - it’s a cultural-information operation: an effort to make the presence of an aggressor state appear "normal" again. In March 2022, the Biennale announced it would not accept official delegations, institutions, or individuals linked to the Russian government, while providing space for those opposing the regime. Now, Russia is listed again among the national participants of Biennale Arte 2026 with the project The Tree is Rooted in the Sky, with Anastasiia Karneeva as commissioner. National Participation is not "free artistic exchange." It is a state pavilion - an official channel representing a government waging an aggressive war. To understand what is really happening, look beyond rhetoric to the operational structure: who runs the pavilion, who controls the funding, who provides the infrastructure - and how all this connects to the Russian state apparatus. ▪️ Fathers and daughters: war and culture Anastasiia Karneeva is not a "neutral curator." She is a commissioner with a long-term mandate - an institutional role, not a temporary figure. Crucially, she is the daughter of Nikolai Volobuev, a graduate of the KGB Higher School, who served in the KGB/FSB from 1975-2004, was Deputy Head of the Federal Customs Service of Russia in 2004-2006, Director of "Special Assignments" at Rosoboronexport in 2006-2007, and since 2007, Deputy General Director of the state corporation Rostec. In other words, the "culture" here rests on a very specific paternal background: intelligence ➡️ defense exports ➡️ state defense corporation. This is the war circuit. The Russian pavilion operator is Smart Art, founded by Anastasiia Karneeva and Ekaterina Vinokurova, handling exhibition projects and production. Importantly, Smart Art publicly functions as the strategic operator of the pavilion - long-term management, including financing and infrastructure. They are not merely assistants; they decide who works, what is funded, which European companies receive payments, and how everything is organized legally and operationally. Ekaterina Vinokurova is the daughter of Sergey Lavrov. Behind the "cultural" façade - the friendly faces of the daughters - stand parents embedded in the state machine: intelligence, defense, diplomacy. The question is simple: do you still believe this is a coincidence? This is typical and convenient for the Russian system: dynastic soft power. The regime enters Europe "through the children" - where the West is more willing to open doors because "it’s culture." The Russian pavilion, in this logic, is not art. It is a façade attached to the state core. ▪️ The Italian context: how the cover works Two mechanisms are at play. 1. Technical: The project lists include Europeans, notably Italians, acting as a shield: "It’s international, locals are involved." This hides the aggressor state behind "polyphony" - criticism of the state pavilion is replaced by accusations of "censoring culture." 2. Institutional: The Biennale operates in a political context with pre-war relationships and a local habit of thinking "avoid conflict with Russia." In this gray-zone war, this matters less as proof of bribery and more as atmosphere: where people are used to saying "let’s avoid politics," it is much easier to install the state presence of an aggressor under the guise of "technical" or "cultural" necessity. Here it is important to name the specific individuals who are part of the Biennale’s leadership structure. The official Biennale leadership (2024-2028) is as follows: • Pietrangelo Buttafuoco: In a 2018 column, Putin is framed as "a true right-wing leader," and Russia positively-heroically. This is not a minor biographical note; it is a worldview: Russia is "unfairly demonized," the West is "hysterical," Putin is "a statesman." • Luigi Brugnaro: Public records show that in 2019 he received Olga Golodets (Russian Deputy PM) and Mikhail Piotrovsky (Hermitage director and curator of the Russian Biennale pavilion). Pre-war meetings with Russian officials and industrial delegations also exist (e.g., the Superjet aviation project). • Luca Zaia: Public statements document concerns about Veneto’s losses from sanctions, the need for "relations over sanctions," and contacts/missions to Moscow in the context of "dialogue despite sanctions." Additionally, there is a well-known case from Veneto’s regional politics, where ideas such as "returning Crimea to Russia" and opposition to sanctions were expressed at the regional council level (widely covered by Italian media) ▪️ Why this is cultural-information warfare The goal is not the exhibition itself. The goal is normalization. Russia does not need Europe to love it. Russia needs Europe to get used to: - a state pavilion as a "normal detail"; - the formula "culture over politics"; - the idea that discussing the war is "indecent" in cultural conversation. This is the essence of the gray zone: not to convince, but to blur. Not to win arguments, but to win fatigue. The key point is not "whether the project is good." The key point is that the pavilion functions as a tool of the aggressor state: through operators, family ties, money infrastructure, international names as cover, and creeping normalization. Culture is being used as a channel of war.

Russian milblogger Alexander Kots says it's time to take the gloves off, "Maybe it's time to stop waging war according to the chivalrous code and start hitting the ruling elite of Ukraine?"

This is an email I sent earlier today to all employees at Coinbase: Team, Today I’ve made the difficult decision to reduce the size of Coinbase by ~14%. I want to walk you through why we're doing this now, what it means for those affected, and how this positions us for the future. Why now Two forces are converging at the same time. We need to be front footed to respond to both. First, the market. Coinbase is well-capitalized, has diversified revenue streams, and is well-positioned to weather any storm. Crypto is also on the verge of the next wave of adoption, with stablecoins, prediction markets, tokenization, and more taking off. However, our business is still volatile from quarter to quarter. While we've managed through that cyclicality many times before and come out stronger on the other side, we’re currently in a down market and need to adjust our cost structure now so that we emerge from this period leaner, faster, and more efficient for our next phase of growth. Second, AI is changing how we work. Over the past year, I’ve watched engineers use AI to ship in days what used to take a team weeks. Non-technical teams are now shipping production code and many of our workflows are being automated. The pace of what's possible with a small, focused team has changed dramatically, and it's accelerating every day. All of this has led us to an inflection point, not just for Coinbase, but for every company. The biggest risk now is not taking action. We are adjusting early and deliberately to rebuild Coinbase to be lean, fast, and AI-native. We need to return to the speed and focus of our startup founding, with AI at our core. What this means To get there, we are not just reducing headcount and cutting costs, we’re fundamentally changing how we operate: rebuilding Coinbase as an intelligence, with humans around the edge aligning it. What does this mean in practice? - Fewer layers, faster decisions: We are flattening our org structure to 5 layers max below CEO/COO. Layers slow things down and create coordination tax. The future is small, high context teams that can move quickly. Leaders will own much more, with as many as 15+ direct reports. Fewer layers also means a leaner cost structure that is built to perform through all market cycles. - No pure managers: Every leader at Coinbase must also be a strong and active individual contributor. Managers should be like player-coaches, getting their hands dirty alongside their teams. - AI-native pods: We’ll be concentrating around AI-native talent who can manage fleets of agents to drive outsized impact. We’ll also be experimenting with reduced pod sizes, including “one person teams” with engineers, designers, and product managers all in one role. In short: AI is bringing a profound shift in how companies operate, and we’re reshaping Coinbase to lead in this new era. This is a new way of working, and we need to leverage AI across every facet of our jobs. To those who are affected I know there are real people behind these decisions — talented colleagues who have poured themselves into this company and our mission. To those of you who will be leaving: thank you. You’ve helped build Coinbase into what it is today, and I am sincerely grateful for everything you've done. All impacted team members will receive an email to their personal account in the next hour with more information, and an invitation to meet with an HRBP and a senior leader in your organization. Coinbase system access has been removed today. I know this feels sudden and harsh, but it is the only responsible choice given our duty to protect customer information. To those affected, we will be providing a comprehensive package to support you through this transition. US employees will receive a minimum of 16 weeks base pay (plus 2 weeks per year worked), their next equity vest, and 6 months of COBRA. Employees on a work visa will get extra transition support. Those outside of the US will receive similar support, based on local factors and subject to any consultation requirements. Coinbase prides itself on talent density. Our employees are among the most talented people in the world, and I have no doubt that your skills and experience will be highly sought after as you pursue your next chapters. How we move forward To the team that is staying, I know this is a difficult day. We’re saying goodbye to colleagues and friends you've been in the trenches with. But here’s what I want you to know as we move forward together: Over the past 13 years, we have weathered four crypto winters, gone public, and built the most trusted platform in our industry. We’ve made it this far by making hard decisions and by always staying focused on our mission. This time will be no different – nothing has changed about the long term outlook of our company or industry. And most importantly, our mission has never been more important for the world. Increasing economic freedom requires a new financial system, and we’re building it. The Coinbase that emerges from this will be more capable than ever to achieve our mission. Brian

This is an email I sent earlier today to all employees at Coinbase: Team, Today I’ve made the difficult decision to reduce the size of Coinbase by ~14%. I want to walk you through why we're doing this now, what it means for those affected, and how this positions us for the future. Why now Two forces are converging at the same time. We need to be front footed to respond to both. First, the market. Coinbase is well-capitalized, has diversified revenue streams, and is well-positioned to weather any storm. Crypto is also on the verge of the next wave of adoption, with stablecoins, prediction markets, tokenization, and more taking off. However, our business is still volatile from quarter to quarter. While we've managed through that cyclicality many times before and come out stronger on the other side, we’re currently in a down market and need to adjust our cost structure now so that we emerge from this period leaner, faster, and more efficient for our next phase of growth. Second, AI is changing how we work. Over the past year, I’ve watched engineers use AI to ship in days what used to take a team weeks. Non-technical teams are now shipping production code and many of our workflows are being automated. The pace of what's possible with a small, focused team has changed dramatically, and it's accelerating every day. All of this has led us to an inflection point, not just for Coinbase, but for every company. The biggest risk now is not taking action. We are adjusting early and deliberately to rebuild Coinbase to be lean, fast, and AI-native. We need to return to the speed and focus of our startup founding, with AI at our core. What this means To get there, we are not just reducing headcount and cutting costs, we’re fundamentally changing how we operate: rebuilding Coinbase as an intelligence, with humans around the edge aligning it. What does this mean in practice? - Fewer layers, faster decisions: We are flattening our org structure to 5 layers max below CEO/COO. Layers slow things down and create coordination tax. The future is small, high context teams that can move quickly. Leaders will own much more, with as many as 15+ direct reports. Fewer layers also means a leaner cost structure that is built to perform through all market cycles. - No pure managers: Every leader at Coinbase must also be a strong and active individual contributor. Managers should be like player-coaches, getting their hands dirty alongside their teams. - AI-native pods: We’ll be concentrating around AI-native talent who can manage fleets of agents to drive outsized impact. We’ll also be experimenting with reduced pod sizes, including “one person teams” with engineers, designers, and product managers all in one role. In short: AI is bringing a profound shift in how companies operate, and we’re reshaping Coinbase to lead in this new era. This is a new way of working, and we need to leverage AI across every facet of our jobs. To those who are affected I know there are real people behind these decisions — talented colleagues who have poured themselves into this company and our mission. To those of you who will be leaving: thank you. You’ve helped build Coinbase into what it is today, and I am sincerely grateful for everything you've done. All impacted team members will receive an email to their personal account in the next hour with more information, and an invitation to meet with an HRBP and a senior leader in your organization. Coinbase system access has been removed today. I know this feels sudden and harsh, but it is the only responsible choice given our duty to protect customer information. To those affected, we will be providing a comprehensive package to support you through this transition. US employees will receive a minimum of 16 weeks base pay (plus 2 weeks per year worked), their next equity vest, and 6 months of COBRA. Employees on a work visa will get extra transition support. Those outside of the US will receive similar support, based on local factors and subject to any consultation requirements. Coinbase prides itself on talent density. Our employees are among the most talented people in the world, and I have no doubt that your skills and experience will be highly sought after as you pursue your next chapters. How we move forward To the team that is staying, I know this is a difficult day. We’re saying goodbye to colleagues and friends you've been in the trenches with. But here’s what I want you to know as we move forward together: Over the past 13 years, we have weathered four crypto winters, gone public, and built the most trusted platform in our industry. We’ve made it this far by making hard decisions and by always staying focused on our mission. This time will be no different – nothing has changed about the long term outlook of our company or industry. And most importantly, our mission has never been more important for the world. Increasing economic freedom requires a new financial system, and we’re building it. The Coinbase that emerges from this will be more capable than ever to achieve our mission. Brian