Jeff 🦇🔊 (testnetjeff.eth)

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The real story here is worse than a fumble. It’s a three-step own goal. January 9: Anthropic locks Claude Code OAuth tokens, killing every third-party tool that built on Claude subscriptions. OpenClaw, which recommended Claude Opus 4.5 as its default model, wakes up to a broken integration. No warning. No partner outreach. January 27: Anthropic’s legal team sends the cease-and-desist over “Clawdbot” sounding too similar to “Claude.” Steinberger complies at 5 AM on a Discord call. During the 10-second window where he releases the old GitHub and X handles, crypto scammers hijack both accounts and run a $16M pump-and-dump scheme. The chaos reflects on the entire Claude ecosystem. February 15: Steinberger announces he’s joining OpenAI. So Anthropic had the fastest-growing open source project in AI history (145K+ GitHub stars, 2 million visitors in a single week), built by a guy who sold his last company for ~€100M, whose tool literally recommended Claude as the default model to millions of new users. Their response was to cut off his API access and send lawyers. Steinberger spent last week in San Francisco meeting with every major lab. He explicitly said he could have built OpenClaw into a massive company but chose OpenAI because he wanted “the fastest way to bring this to everyone.” Meanwhile OpenClaw has already spread to China, with Baidu planning direct integration into its main app. This is a project that was essentially a free distribution channel for Claude. Millions of developers installing a tool that defaults to your model. The growth marketing team at Anthropic should have been sending gift baskets, not legal notices. Sam Altman just got handed an open-source agent framework with global distribution and a brilliant founder, because Anthropic’s legal department moved faster than their partnerships team.

🚨 NOW: Bank of America, CEO warns up to $6 trillion in deposits could shift to stablecoins on Ethereum if allowed to pay interest by The CLARITY Act. Banks are scared users will go to the better product

Ethereum itself must pass the walkaway test. Ethereum is meant to be a home for trustless and trust-minimized applications, whether in finance, governance or elsewhere. It must support applications that are more like tools - the hammer that once you buy it's yours - than like services that lose all functionality once the vendor loses interest in maintaining them (or worse, gets hacked or becomes value-extractive). Even when applications do have functionality that depends on a vendor, Ethereum can help reduce those dependencies as much as possible, and protect the user as much as possible in those cases where the dependencies fail. But building such applications is not possible on a base layer which itself depends on ongoing updates from a vendor in order to continue being usable - even if that "vendor" is the all core devs process. Ethereum the blockchain must have the traits that we strive for in Ethereum's applications. Hence, Ethereum itself must pass the walkaway test. This means that Ethereum must get to a place where we _can ossify if we want to_. We do not have to stop making changes to the protocol, but we must get to a place where Ethereum's value proposition does not strictly depend on any features that are not in the protocol already. This includes the following: * Full quantum-resistance. We should resist the trap of saying "let's delay quantum-resistance until the last possible moment in the name of ekeing out more efficiencies for a while longer". Individual users have that right, but the protocol should not. Being able to say "Ethereum's protocol, as it stands today, is cryptographically safe for a hundred years" is something we should strive to get to as soon as possible, and insist on as a point of pride. * An architecture that can expand to sufficient scalability. The protocol needs to have the properties that allow it to expand to many thousands of TPS over time, most notably ZK-EVM validation and data sampling through PeerDAS. Ideally, we get to a point where further scaling is done through "parameter only" changes - and ideally _those_ changes are not BPO-style forks, but rather are made with the same validator voting mechanism we use for the gas limit. * A state architecture that can last decades. This means deciding, and implementing, whatever form of partial statelessness and state expiry will let us feel comfortable letting Ethereum run with thousands of TPS for decades, without breaking sync or hard disk or I/O requirements. It also means future-proofing the tree and storage types to work well with this long-term environment. * An account model that is general-purpose (this is "full account abstraction": move away from enshrined ECDSA for signature validation) * A gas schedule that we are confident is free of DoS vulnerabilities, both for execution and for ZK-proving * A PoS economic model that, with all we have learned over the past half decade of proof of stake in Ethereum and full decade beyond, we are confident can last and remain decentralized for decades, and supports the usefulness of ETH as trustless collateral (eg. in governance-minimized ETH-backed stablecoins) * A block building model that we are confident will resist centralization pressure and guarantee censorship resistance even in unknown future environments Ideally, we do the hard work over the next few years, to get to a point where in the future almost all future innovation can happen through client optimization, and get reflected in the protocol through parameter changes. Every year, we should tick off at least one of these boxes, and ideally multiple. Do the right thing once, based on knowledge of what is truly the right thing (and not compromise halfway fixes), and maximize Ethereum's technological and social robustness for the long term. Ethereum goes hard. This is the gwei.

The number of active Ethereum addresses is at an all time high of ~665,000 (based on the 7 day moving average).

BREAKING: JPMorgan, $JPM, starts tokenized money market fund on Ethereum, and to seed fund on Ethereum with $100 million internal capital, per WSJ

This is the biggest news of the fucking year. I humbly present you 2 quotes that will radically define 2026 and bring trillions onchain, I promise nothing you read will define the next 3 years more. 1. “The No-Action Letter authorizes DTC to offer a tokenization service for DTC Participants and their clients on pre-approved blockchains for three years. Under the NAL, DTC will have the ability to tokenize real-world assets, with the digital version having all the same entitlements, investor protections and ownership rights as the asset in its traditional form. In addition, DTC will provide the same high level of resiliency, safety and soundness as that of traditional markets.  The authorization applies to a defined set of highly liquid assets, including the Russell 1000, which represents the 1,000 largest publicly traded U.S. companies by market cap, as well as ETFs tracking major indices and U.S. Treasury bills, bonds and notes. The No-Action Letter is significant because it allows DTC to launch the service once finalized, under certain limitations and representations, more quickly than would have otherwise been possible.  “ You read that right - the US Gov is not only fast tracking the move on the entire US economy onto crypt rails, they are doing it with all the benefits of existing protections. The era of global financial access at the highest levels is upon us. 2. “Under the No-Action Letter, DTC is authorized to offer a limited production environment tokenization service across L1 and L2 providers. DTCC will provide more details about on-boarding requirements, including registering wallets, as well as the approval process for L1 and L2 networks in the coming months.” Where will the world be settled? In the Ethereum ecosystem of L1s and L2s. This should not come as a shock - DTCC launched their proof of concept using the Ethereum client Besu and now they are ready to use that background to bring the entire world to Ethereum. Trillions in 2026. Ethereum.

ethereum settled more in stablecoins than visa in payments last year. $27 TRILLION > $15.68 TRILLION. ethereum is winning.

Torre Norte in Torres Del Paine ✅ 500m, ~10 pitches, 5.11a crux Incredibly cold but the views are overwhelming

Yas 👏 It’s true