The final boss of crypto is not TPS.
It’s not fees.
It’s not UX.
It’s whether your chain can survive insiders wanting to control it.
Ethereum wins here and it is not even close.
ETH is mispriced when Ethereum’s market cap dips below the value its ecosystem secures.
Today ~$294B secured.
After the CLARITY Act, Ethereum could secure tokenized stocks, bonds, and global money.
What happens when $294B becomes $10T?
People say Ethereum “did nothing” the last 5 years because price action moved sideways.
Meanwhile Ethereum kept building:
– scaling infrastructure
– stablecoin adoption
– institutional rails
– DeFi markets
– consumer applications
– better security and decentralization
The market often underestimates infrastructure while it is being built.
Ethereum is not just an asset.
It is an economic and cultural network growing layer by layer.
And we are still early.
Coordination, UX, security and decentralization still need major improvements, but that is exactly why so much upside remains.
Zoom out…
10 years ago: $9.40
Today: $2290
Imagine where Ethereum stands in 2030 once the infrastructure, applications and culture fully mature, and once we will actually be valued according to the value we will capture trough the adoption 🙏📖
CLARITY is closer than ever.
The bill is strong. It will benefit the American people by making the US financial system faster, cheaper and more accessible. It will also ensure that the US leads in the global race to build the next generation of our financial system.
Huge thank you to the Senate, their staff, and 3.7m @standwithcrypto advocates for helping to get this legislation to where it is today.
Mark it up.
With the Clarity Act and a new Fed Chair coming soon the Crypto and Financial sectors are about to be brought into the future.
I have compiled a list of the biggest beneficiaries of this revolutionary transformation ranked in tiers -
S Tier -
• $ETH | Ethereum
• $LINK | Chainlink
• $CRCL | Circle
• $BMNR | Bitmine
A Tier -
• $BTC | Bitcoin
• $COIN | Coinbase
• $MSTR | Strategy
• $SBET | Sharplink
B Tier -
• $SOL | Solana
• $HOOD | Robinhood
• $STRC | Strategy preferred stock
• $AVAX | Avalanche
C Tier -
• $BLK | BlackRock
• $JPM | JP Morgan
• $ONDO | Ondo
• $XRP | XRP
Moonshot Tier -
• $AAVE - Aave
• $ORBS - Eightco
• $MORPHO - Morpho
• $SOFI - SoFi
The future of finance is upon us.
Are you positioned?
The US Senate Banking Committee released a 309-page market structure bill for the CLARITY Act at midnight on May 12th, with a markup vote scheduled for Thursday at 10:30am ET.
This is the most consequential week for crypto policy in at least a year, and likely our best window to get this done before midterm dynamics take over.
Sharplink supports this bill.
A thread on what it means for our business:
We’re excited to announce our non-binding agreement with @GalaxyHQ to launch a first-of-its-kind $125M ecosystem liquidity fund to deploy capital into high-quality DeFi protocols and generate risk-managed returns that increase our ETH per share.
The Galaxy Sharplink Onchain Yield Fund will be managed by Galaxy Digital and will target onchain liquidity strategies and early-stage protocol support.
👇🧵
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
The CLARITY Act will be crypto’s graduation day.
It is what allows everything to scale.
Clear definitions = unlocked capital
Institutional certainty = institutional size
Green lights = ETF pipelines
Predictable law = lower risk premiums
Domestic clarity = domestic innovation
Recognized rules = recognized asset class
Global alignment = global liquidity flow
That’s how an industry grows up.
$ETH and the alchemy of 47.
Assuming a modest staking rate of 2.15% you would need 47 ETH staked to generate 1 free ETH each year.
At current price of $2,250 per $ETH you would need $106,000 to acquire 47 ETH.
That would generate $2,250 or 1 free $ETH each year.
At a modest price target of $10,000 ETH you would have $470,000 generating $10,000 per year.
At @fundstrat price target of $60,000 ETH you would have $2,820,000 generating $60,000 per year.
At @Etherealize_io price target of $250,000 ETH you would have $11,750,000 generating $250,000 per year.
Buy $ETH and stake it for the long term.