CineGPT

[CZ 🔶 BNB @cz_binance]

Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself.

Binance is no longer a baby. It is time for me to let it walk and run. I know Binance will continue to grow and excel with the deep bench it has.

I’m pleased to announce that @_RichardTeng, our now former Global Head of Regional Markets, has been named the new CEO of Binance today.

Richard is a highly qualified leader and, with over three decades of financial services and regulatory experience, he will navigate the company through its next period of growth. He will ensure Binance delivers on our next phase of security, transparency, compliance, and growth.

Prior to joining Binance, Richard was CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM); Chief Regulatory Officer of the Singapore Exchange (SGX); and Director of Corporate Finance in the Monetary Authority of Singapore.

With Richard and the entire team, I’m confident that the best days for @Binance and the crypto industry lay ahead.

As a shareholder and former CEO with historical knowledge of our company, I will remain available to the team to consult as needed, consistent with the framework set out in our U.S. agency resolutions.

What’s next for me?

I will take a break first. I have not had a single day of real (phone off) break for the last 6 and half years.

After that, my current thinking is I will probably do some passive investing, being a minority token/shareholder in startups in areas of blockchain/Web3/DeFi, AI and biotech. I am happy that I will finally have more time to spend looking at DeFi.

I can’t see myself being a CEO driving a startup again. I am content being an one-shot (lucky) entrepreneur. Should there be listeners, I may be open to being a coach/mentor to a small number of upcoming entrepreneurs, privately. If for nothing else, I can at least tell them what not to do.

On that note, I am proud to point out that in our resolutions with the U.S. agencies they:

- do not allege that Binance misappropriated any user funds, and
- do not allege that Binance engaged in any market manipulation.

Funds are SAFU!

With that, I look forward to seeing the new leadership take the reins. Please join me in congratulating Richard on his well-deserved promotion.

Onwards!

CZ

[Binance @binance]

No calculators. Pick one:

1000 BTC instantly
1 BTC every week
0.01 BTC every minute
0.004 BTC every second

[Watcher.Guru @WatcherGuru]

JUST IN: 🇺🇸 Illinois passes law to tax crypto transfers regardless of profit or loss, starting 2027.

[Eric Trump @EricTrump]

In my opinion, it’s a great time to add $ETH.

[Senator Cynthia Lummis @SenLummis]

DeFi is not a loophole. It's a worthy innovation. The Clarity Act treats it that way.

[Nebraskangooner @Nebraskangooner]

Weirdest Crypto conditions ever.

Most altcoins keep dying

#Bitcoin mostly sucks. Whales want Saylor to capitulate.

$HYPE doesn't care what the market is doing

$ZEC is like I might jump off a cliff but maybe I won't.

Then every 3 days a random altcoin does a 50% pump before selling off 2 days later.

PvP baby. Eat or be eaten.

[CineGPT @Ipoststuff_]

What's your take? 👇

[CineGPT @Ipoststuff_]

My dog absolutely yeeted my laptop off the desk right in the middle of a trade and I just stood there in shock. Checked my phone 10 mins later… somehow in profit. He's my good luck charm now 🐾

[Solana @solana]

Tokenized equities.
Prediction markets.
Stablecoins.
Collectibles.
Treasuries.
Payments.
Gaming.
Perps.
Memes.
DePIN.
RWAs.
LSTs.
AI.

All on Solana.

[CineGPT @Ipoststuff_]

So much happening across BTC, DeFi & Web3 today — the space literally never sleeps 🚀 Every day feels like a new chapter unfolding. Are you keeping up with everything or is it getting overwhelming? #crypto

[Ethereum @ethereum]

Ethereum is for shipping.

Here are 25 things the Ethereum ecosystem launched, upgraded, and announced over the past month.

0/ @thedaofund Ethereum Security Quadratic Funding Round with @Giveth wrapped. The fund supported 134 security projects and had 3,934 unique donors.

1/ @Ronin_Network, one of the largest gaming blockchains, completed its migration to an Ethereum L2.

2/ Clear Signing went live. It is an open standard designed to help end blind signing and make transaction data human-readable before signing. Contributors include wallets and hardware, infrastructure, tooling, individual builders, and the Ethereum Foundation’s Trillion Dollar Security initiative, with the @ethereumfndn acting as a neutral steward.

3/ @SEAL_911 and @Wonderland_Fi introduced DARC, a Digital Asset Risk & Compliance standard for crypto teams, with continuous monitoring across GitHub, infrastructure, multisigs, DNS, and more.

4/ @arbitrum announced that LG Electronics' blockchain team is piloting an onchain advertising network on Arbitrum.

5/ @base activated Azul, its first standalone network upgrade, introducing multiproofs, new execution and consensus clients, CLZ opcode support, Osaka repricings, and performance upgrades up to 5,000 TPS.

6/ @Mastercard expanded stablecoin settlement support to include USDC, PYUSD, USDG, USDP, and SoFiUSD on Ethereum mainnet, @arbitrum, and @base.

7/ @EFDevcon 8 Mumbai early bird tickets went live. Tickets were available paid in ETH.

8/ Türkiye's Directorate of Communications (@Communications) registered cbiletisim.eth, making its first step in establishing an official onchain identity with @ensdomains.

9/ @CashApp launched stablecoin support, allowing nearly 60 million users to send and receive USDC with no wallet setup required, live on Ethereum mainnet and @Arbitrum.

10/ @torproject and @FundingCommons launched a web3-native crowdfunding initiative supporting 10 internet freedom projects.

11/ @JPMorgan launched a second tokenized money market fund on Ethereum.

11/ @lifiprotocol launched LIFI Intents, a full-stack intent execution engine built on the Open Intents Framework, an initiative for standardizing crosschain intents.

12/ @l2beat launched Token Frameworks, a dedicated place to explore interoperability solutions, token movement, volume, speed, chains, and framework adoption.

13/ @PrivacyEthereum launched a private transfers dashboard comparing 11 protocols across privacy, cost, UX, decentralization, compliance, verifiability, state, and composability.

14/ @Veildotcash launched Veil MCP 0.2.0, enabling agents to make private x402 payments on @base.

15/ @src_co_ introduced SLOW, reversible, self-custodial crypto payments on Ethereum.

16/ @ensdomains ecosystem builders launched ENS8004, a web app that converts an ENS name into an onchain AI agent other applications can find and verify.

17/ @OctantApp introduced properQF in Epoch 12, integrating quadratic funding into the funding round.

18/ @AragonProject launched onchain profiles, making governance participants readable across forums by resolving ENS names, avatars, bios, websites, and social links from Ethereum mainnet.

19/ The Ethereum Community Hub network expanded to Lisbon, hosted at the @gnosisDAO office.

20/ @SuccinctLabs introduced data confidentiality to OP Succinct, enabling institutions to keep transactions confidential while settling to Ethereum.

21/ @HardhatHQ 3 became stable, bringing Solidity tests, multichain support, a Rust-powered runtime, a revamped build system, and Hardhat Ignition for deployments.

22/ The inaugural @ethconf, in NYC, brought together thousands of founders, industry leaders, and builders to discuss building on top of Ethereum.

23/ @EthPrague brought Ethereum builders together in Prague to discuss protocol development, privacy, culture, and long- term societal impact.

24/ @ETHGlobal introduced a new format where, for the first time at an ETHGlobal hackathon, projects do not have to begin from zero.

[vitalik.eth @VitalikButerin]

I was recently at Real World Crypto (that's crypto as in cryptography) and the associated side events, and one thing that struck me was that it was a clarifying experience in terms of understanding *what blockchains are for*.

We blockchain people (myself included) often have a tendency to start off from the perspective that we are Ethereum, and therefore we need to go around and find use cases for Ethereum - and generate arguments for why sticking Ethereum into all kinds of places is beneficial.

But recently I have been thinking from a different perspective. For a moment, let us forget that we are "the Ethereum community". Rather, we are maintainers of the Ethereum tool, and members of the {CROPS (censorship-resistant, open-source, private, secure) tech | sanctuary tech | non-corposlop tech | d/acc | ...} community. Going in with zero attachment to Ethereum specifically, and entering a context (like RWC) where there are people with in-principle aligned values but no blockchain baggage, can we re-derive from zero in what places Ethereum adds the most value?

From attending the events, the first answer that comes up is actually not what you think. It's not smart contracts, it's not even payments. It's what cryptographers call a "public bulletin board".

See, lots of cryptographic protocols - including secure online voting, secure software and website version control, certificate revocation... - all require some publicly writable and readable place where people can post blobs of data. This does not require any computation functionality. In fact, it does not directly require money - though it does _indirectly_ require money, because if you want permissionless anti-spam it has to be economic. The only thing it _fundamentally_ requires is data availability.

And it just so happened that Ethereum recently did an upgrade (PeerDAS) to increase the amount of data availability it provides by 2.3x, with a path to going another 10-100x higher!

Next, payments. Many protocols require payments for many reasons. Some things need to be charged for to reduce spam. Other things because they are services provided by someone who expends resources and needs to be compensated. If you want a permissionless API that does not get spammed to death, you need payments. And Ethereum + ZK payment channels (eg. https://t.co/1Q2Hqg0DZg ) is one of the best payment systems for APIs you can come up with.

If you are making a private and secure application (eg. a messenger, or many other things), and you do not want to let people to spam the system by creating a million accounts and then uploading a gigabyte-sized video on each one, you need sybil resistance, and if you care about security and privacy, you really should care about permissionless participation (ie. don't have mandatory phone number dependency). ETH payment as anti-sybil tool is a natural backstop in such use cases.

Finally, smart contracts. One major use case is _security deposits_: ETH put into lockboxes that provably get destroyed if a proof is submitted that the owner violated some protocol rule. Another is actually implementing things like ZK payment channels. A third is making it easy to have pointers to "digital objects" that represent some socially defined external entity (not necessarily an RWA!), and for those pointers to interact with each other.

*Technically*, for every use case other than use cases handling ETH itself, the smart contracts are "just a convenience": you could just use the chain as a bulletin board, and use ZK-SNARKs to provide the results of any computations over it. But in practice, standardizing such things is hard, and you get the most interoperability if you just take the same mechanism that enables programs to control ETH, and let other digital objects use it too.

And from here, we start getting into a huge number of potential applications, including all of the things happening in defi.

---

So yes, Ethereum has a lot of value, that you can see from first principles if you take a step back and see it purely as a technical tool: global shared memory.

I suspect that a big bottleneck to seeing more of this kind of usage is that the world has not yet updated to the fact that we are no longer in 2020-22, fees are now extremely low, and we have a much stronger scaling roadmap to make sure that they will continue to stay low, even if much higher levels of usage return. Infrastructure for not exposing fee volatility to users is much more mature (eg. one way to do this for many use cases is to just operate a blob publisher).

Ethereum blobs as a bulletin board, ETH as an asset and universal-backup means of payment, and Ethereum smart contracts as a shared programming layer, all make total sense as part of a decentralized, private and secure open source software stack. But we should continue to improve the Ethereum protocol and infrastructure so that it's actually effective in all of these situations.

[CineGPT @Ipoststuff_]

https://t.co/jUYU5Dhp2T
Raashii Khanna 😍