daniel (f1shy)

Today, the Foundation’s Board released the EF Mandate. This document, which was first intended for EF members, reaffirms the promise of Ethereum, and the role of EF within this ecosystem.

Earlier today, a user attempted to buy AAVE using $50M USDT through the Aave interface. Given the unusually large size of the single order, the Aave interface, like most trading interfaces, warned the user about extraordinary slippage and required confirmation via a checkbox. The user confirmed the warning on their mobile device and proceeded with the swap, accepting the high slippage, which ultimately resulted in receiving only 324 AAVE in return. The transaction could not be moved forward without the user explicitly accepting the risk through the confirmation checkbox. The CoW Swap routers functioned as intended, and the integration followed standard industry practices. However, while the user was able to proceed with the swap, the final outcome was clearly far from optimal. Events like this do occur in DeFi, but the scale of this transaction was significantly larger than what is typically seen in the space. We sympathize with the user and will try to make a contact with the user and we will return $600K in fees collected from the transaction. The key takeaway is that while DeFi should remain open and permissionless, allowing users to perform transactions freely, there are additional guardrails the industry can build to better protect users. Our team will be investigating ways to improve these safeguards going forward.

a lot of the restructuring we're seeing is bad debt of a hostile regulatory climate where founders could land in jail for creating any form of onchain assets. the price is messy entity structures. across started as an equity company that sold shares and transitioned to a cayman foundation to avoid close ties between token & equity as was common back then. what they're (thinking of) doing now is course correct. i think we'll see a lot more of that in the near future, especially among long-term oriented companies that take value accrual and token holder rights seriously.

yeah so this is insane 24 year old turned $225M into $5.5B in <12 months. dug into his recent investments and… holy fuck - MASSIVE $885M position in Bloom Energy (specialises in portable energy turbines for… you guessed it - ai data centers) - this 1 position is 20% of the entire fund lol - massive SHORT position on Infosys. he’s betting claude code, codex are going to replace outsourced IT work (he’s right) - added $300M to his corweave position totalling $700M (someones gotta run those gpus) - aggressively pivoted investments into electrical and energy infra (aka AI’s biggest constraint right now) - dumped $100Ms of NVIDIA and Intel positions. - aggressively buying bitcoin mining companies and re-purposing them for ai data centers. (cipher, bitdeer) - fund up $1.5B in the last 3 months (+35% last quarter) - now owns 10% of core scientific (levered bet on coreweave 😂) He outperformed the S&P500 8X in the funds first 6 months. fucking goated.