Maybe: commodore

@gumsays crypto ended up being a scam, sans BTC bummer but true

literally having chills watching some of these stock pumps every single stock tied to intel, nvidia, apple, google have done a 5x in the last 10 months crypto is jail

AI is saving crypto, wild

@guywuolletjr lol crypto dead bro

1/ Buy-and-burn is becoming the default ‘capital return’ strategy in crypto. I think this is a big mistake. Stop it. Get some help. Profitable protocols shouldn’t shrink their balance sheets when they can do productive things instead.

always been it’s hypocrisy of crypto that kills me

DeFi was replicating bad practices TradFi with the cover that TradFi was doing the same thing it’s been rotten to its core since it was invented insiders propping shit up, doing complicated mechanisms to print yield out of thin air the game of musical chairs is over

DeFi is dead and most of you still don’t understand what it actually was It was never a financial system. It was a loop designed to manufacture synthetic valuations from minimal capital Protocols didn’t grow capital, they multiplied how it was counted by turning one deposit into multiple positions A token gets emitted, you’re paid to deposit it, and that deposit is recorded as TVL. That’s position one. You borrow stables against that same collateral, deploy them somewhere else, and now that same base capital is supporting a second position on another protocol Then you take the LP token from that, restake or loop it again, and it gets counted a third time Lets simplify it with $100: > You deposit $100 into a protocol, that’s your first position and it’s recorded as $100 TVL > You borrow $80 against that same $100 and deposit it somewhere else, now there’s another $80 being counted > You borrow $60 against that $80 and deploy it again, now that’s another layer You take the receipt from that and loop it one more time On paper you now have $280+ across protocols, but in reality its still the same $100 This is the same illusion as altcoins printing billion dollar market caps on tiny float A $2B token with 5% circulating isn’t $2B of value, it’s $100M of liquidity marked higher by thin trading DeFi did the same thing with TVL. Instead of multiplying price across supply, it multiplied the same capital across protocols TVL became FDV in a different format Protocols emitted tokens to LPs, counted those tokens as TVL, then counted the incentivized volume as usage That volume generated fees, fees justified valuation, valuation justified emissions, and the loop continued No external demand was needed and the system kept feeding itself Every narrative ran the same structure. Yield farming, LSDs, restaking, points. Different names for the same mechanic You weren’t earning yield. You were being paid in dilution At the peak, $200B+ TVL implied capital that never existed. The real base was a fraction of that, looped, leveraged and counted multiple times Each protocol reported it independently, dashboards aggregated it as if it was additive That’s how the industry looked massive This is why altcoin market caps and DeFi TVL broke at the same time Both were built on internal pricing, thin liquidity, and recycled capital. One inflated valuation through float, the other through collateral loops Neither represented real economic scale The fragility came from this exact structure. The hacks weren’t random.... You don’t extract hundreds of millions from systems generating real external cash flow, you extract from systems where the value was already abstract Strip out token denominated TVL, emission based yield, recycled collateral, and wash volume. What’s left is a small set of protocols actually moving capital DeFi didn’t fail. It worked exactly as designed. It took limited capital, looped it, marked it higher, and distributed it Now that the loop is visible, the numbers don’t hold That’s why it doesn’t bounce. There’s nothing underneath it to support the scale it once claimed

“but we went to some shit conference & had some really good conversations with institutional capital” 😂 💀

realizing all of my DAO governance learnings are actually just training infra for AI governance

read the room bro, crypto is dead

@DennisonBertram @AnthropicAI based

guys, the VC ecosystem here is dead it’s all insider circle jerking bs

@richardchen39 crypto founders thinking vcs will bail a dead industry

Hot take: There isn’t lack of VC money in crypto. In fact I’d argue there’s still oversupply of capital. What’s lacking is courage. Courage to build something that defines a new unproven category. Right now I’m mostly seeing copycats chasing what’s already working. But no one cares about the 69th prediction market, 69th yield vault, 69th stablecoin neobank, etc. Polymarket, Morpho, Redotpay, etc. won because they were early to new categories before they became obvious.

god bless the delusional souls still pushing forward the carcass that was defi will be good fodder for ai to train on from all of the skeletons

lol defi was shit & is still shit no point in it

@SuhailKakar crypto is dead imagine trying to sell into defi RWAs right now lol

so anthropic literally built a god-tier ai and is now working with all the big giants to find vulnerabilities across critical infrastructure none of these are crypto or defi companies btw. none. zero. we are cooked. if you have any of your money sitting in random protocols, take it out and if you're building in crypto, now is the best time to do a full audit of your contracts and codebase. seriously.

vibe coding web2 consumer apps and finding meaningful ways to build blockchain under the hood might actually be better for crypto than vibe coding another prediction market app or trading agent. just sayin.

@DennisonBertram @tallyxyz we should build luxury software together

Updated my Linked profile now that I closed @tallyxyz. Checking out my job opportunities. Not looking good fam. The meme is real.

in 9 years of being in crypto, I have never been less optimistic about its future than I am now

At ethcc I figured out why crypto feels dead. founders stopped building anything that needs a token. so now we build yield aggregators on top of yield aggregators on top of... tokens nobody's launching anymore. But all of that "yield" sits on top of token economies, all of it traces back to someone somewhere believing in a token. cut off new token launches and you starve the entire yield stack from below. crypto is slowly dieing unless we make people believe in tokens again.