This is wild (via On The Tape Podcast) CME Group CEO to SBF last March: "You're a fraud. You're an absolute fraud."

Easy to become depressed in this market environment. For those that've forgotten what a bull feels like, things are not always down-only. Being grateful for the units you're stacking now creates character to keep you sane next bull. You will look back on these times with awe.

Thread of a few #Bitcoin pricing models that caught my eye as we hammer out this bear market (floor?). First off, we are attacking the underside of the 🔴 Short-Term Holder Cost Basis $17.8k. Note also clustering of all cohort Realized Prices = a homogeneous market of HODLers.

1/ Time for the 4th annual Electric Capital ⚡️ Developer Report! This year we are also proud to launch developerreport.com -- showcasing the data behind the report. We analyzed 250m code commits and 300+ people contributed to this year's report. Let's dig in👇

From Hester Peirce's dissent in Kraken: "A paternalistic and lazy regulator settles on a solution like the one in this settlement: do not initiate a public process to develop a workable registration process that provides valuable information to investors, just shut it down."

I have a theory: Regulators let the bad guys get big and blow up because it serves their agenda. 1. destroy capital/resources in crypto ecosystem 2. burn people, deter adoption 3. give air cover to attack good actors The bad guys are actually on-side. Good guys are the enemy.

We cannot expect governments, corporations, or other large, faceless organizations to grant us privacy out of their beneficence. It is to their advantage to speak of us, and we should expect that they will speak. -Eric Hughes

DEX vs CEX volume ratio is at an all time high up 25% since the FTX collapse 🚀

I've always been a fan of David Hoffman and RYAN SΞAN ADAMS - rsa.eth 🦄 pushed the industry forward in away that many others could not. Connecting with Industry leaders and having them explain complex topics in a digestible format. A thread from an outsider's point of view 🧵

Every single video lecture from Gary's MIT "Blockchain and Money" course is made available via Massachusetts Institute of Technology (MIT), EXCEPT one - Session 18. Session 18's lecture slides are also not publicly available. However, the study questions for session 18 are still up - the class is titled

When cryptoassets are just assets. When cryptonetworks are just networks. When cryptoeconomics is just economics. Then, our vision will be the new default.

This chart blows my mind. I would have expected the bottom right quadrant to be the most populated, not the least.

Regarding the SEC complaint against us today, we're proud to represent the industry in court to finally get some clarity around crypto rules. Remember: 1. The SEC reviewed our business and allowed us to become a public company in 2021. 2. There is no path to "come in and

Strategically, the SEC really needs to keep House Dems away from the negotiating table on McHenry-Thompson. Once Dems starts suggesting there are specific changes to the legislation they’d need to support it, the bill’s odds of passage go up.

Today Coinbase 🛡️ filed our answer and notice of intent to file a motion to dismiss the U.S. Securities and Exchange Commission case against us. You can read our response for yourself – our arguments speak for themselves. 1/2 assets.ctfassets.net/c5bd0wqjc7v0/4…

1/ SEC Chair Gary Gensler has wrongly prejudged that all digital assets are securities. As a result, federal law requires that he recuse himself from all enforcement decisions related to digital assets. Marisa Tashman Coppel and I wrote a paper explaining why 👇 theblockchainassociation.org/chair-gensler-…

16/ And that makes sense. After all, markets are pricing mechanisms, and what truly matters is not if data comes in positive or negative, but if data comes in better or worse than what is priced in.

I've read and thought about the Ripple decision for a few days now, and here are some thoughts from the perspective of someone with an appellate law background. (I clerked on the DC Circuit and the Supreme Court, and practiced as an appellate lawyer.)