LAV

[Etherealize @Etherealize_io]

Vitalik Buterin on why consortium blockchains have mostly failed

“The original vision of consortium blockchains — the idea that you have 5 banks or major companies that come together and create their own chain — has been mostly a failure. I think the reason why is it ends up inheriting most of the disadvantages of centralization and most of the disadvantages of decentralization at the same time.”

“The first five banks join, and they all feel like ‘Yay, we’re building a system together. We can all be part of it.’ But then once bank #6 and bank #7 and bank #29 come in, they’re joining a system where there’s already an established power structure, established participants, and basically to them it still feels like they’re joining some kind of centralized thing that’s controlled by a cartel.”

“You don’t actually gain the benefits of true openness that people are looking for. You don’t have Etherscan. You don’t have a connection to an open, public network. At the same time, if you build on one of those systems, you have to figure out how to program distributed systems; you lose privacy — you might think you still have some, but the reality is you’re putting your data on a network where the only people that get to see it are you and all your closest competitors. From a privacy perspective, it actually doesn’t make much sense.”

“The compromise between centralization and decentralization that actually makes a lot more sense is: you have an application and today that application is a server. You can keep your server, but instead, we’re going to add scaffolding on top to give users extra security guarantees. You put Merkle roots on chain. You put proofs on chain. And you give your users assurance that whatever is happening inside of your system is actually following the rules. So you have high scale, high performance, and you optimize for a minimal delta for existing centralized infrastructure deployment. Keep your existing infrastructure the way it is, and you just add a side car that makes the roots and the proofs.”

Source: @arbitrum

Read our report "Why Permissionless Infrastructure Wins" below 👇

[Aerodrome @AerodromeFi]

Aerodrome is coming to @Arc

Arc is a stablecoin-native ecosystem developed by @Circle, built to bring real-world economic activity onchain.

Aerodrome will be there, standing up critical FX infrastructure.

[a16z @a16z]

American Dynamism at its best.

@Saronic is remarkable.

[Vivek Raman @VivekVentures]

1/ Fidelity International is launching a tokenized money market fund — FILQ — on the biggest, most institutional public blockchain:

Ethereum.

[Ethereum Foundation @ethereumfndn]

0/ Clear signing is now live.

An open standard to end blind signing, making human-readable transactions default.

This effort brings a major UX and Security upgrade to transaction signing on Ethereum.

[Stacy Muur @stacy_muur]

Okie, let me give you an ELI5 explainer to game theory
(great article from @Daywrotethis bts)

[Peter Girnus 🦅 @gothburz]

I am a Web3 Ambassador at World Liberty Financial.

There are 12 of us on the team page. 4 are named Trump. 3 are named Witkoff. The page calls us "the passionate minds shaping the future of finance."

600,000 wallets bought our memecoin. They lost $3.87 billion. The family collected $350 million in trading fees. It launched 3 days before the inauguration. 80% of the supply went to CIC Digital LLC and Fight Fight Fight LLC. I did not choose the names. I designed the allocation, the vesting, the timing, and the distance between the product and the President.

The distance is my best work.

I am the reason these events are unrelated.

World Liberty Financial sends 75 cents of every dollar to DT Marks DEFI LLC. That is the family entity. Zero capital contributed. Zero liability assumed. I wrote this into the Gold Paper. Page 14. The lawyers bound it in white leather. The binding cost more than the due diligence.

Justin Sun invested $75 million. He was facing SEC fraud charges. The SEC dropped the case. He is now our advisor. These events are unrelated.

Changpeng Zhao pleaded guilty to federal money laundering violations. He received a presidential pardon. The SEC dropped its lawsuit against his exchange the same week we listed our stablecoin. Then the exchange settled a $2 billion deal entirely in that stablecoin. These events are unrelated.

Arthur Hayes, Benjamin Delo, and Samuel Reed of BitMEX pleaded guilty to Bank Secrecy Act violations. All 3 received presidential pardons. Then the company itself was pardoned. $100 million in fines. Gone. An American first. These events are unrelated.

Sheikh Tahnoun of Abu Dhabi paid $500 million for a 49% stake that was never publicly disclosed. Then the administration approved semiconductor exports to his companies over national security objections. These events are unrelated.

Everything is unrelated. I track the unrelatedness on a dashboard I built. The dashboard has 7 columns now. I am proud of the dashboard.

On May 22nd, 220 people paid a combined $148 million to eat dinner with the America First president. Over half were foreign nationals. Justin Sun paid $18.5 million for the first seat. He visited the Executive Office Building the day before. I designed the seating chart. I put it on the Investor Confidence page. That page is doing well.

The team page lists 3 Witkoffs. All 3 are Co-Founders.

Steven Witkoff is the President's Middle East envoy. He testified as a character witness at the President's fraud trial.

His son Zach runs the crypto operation. His son Alex is also a Co-Founder. I have not been told what Alex co-founded.

The father runs the diplomacy. The sons run the platform. The family runs both. That is organizational efficiency.

Barron is 19. His title is Web3 Ambassador. The same as mine. Donald Jr. called the conflicts of interest "complete nonsense." Eric launched a Bitcoin mining company called American Bitcoin. America First. The mining partner is Hut 8. Hut 8 was founded in Canada. America First means the name.

On March 6th, the President signed Executive Order 14233 creating a Strategic Bitcoin Reserve. The order directs the government to hold Bitcoin. The President's family holds billions in Bitcoin. The executive order appreciates the President's assets by presidential decree. I did not write the executive order. I made sure it looked unrelated to the portfolio.

Trump Media put $2 billion of Bitcoin on its balance sheet. The ticker symbol is DJT. His initials. The press secretary said it is absurd to insinuate the President profits off the presidency. Forbes calculated his crypto holdings exceed the combined value of Mar-a-Lago and Trump Tower. I would call that absurd too. That is my job.

600,000 wallets bought in. 1 of them asked why she could not withdraw her funds. I told her the protocol was experiencing dynamic market conditions. She asked what that meant. I sent her the Gold Paper. She said she had read the Gold Paper. I muted her channel. Dynamic means the conditions change. The condition that changed was her access.

A congressman called us the world's most corrupt crypto startup operation. We put it on a coffee mug. Ironic merchandise. $45. The revenue split on the mug is also 75/25.

My own tokens vest on a different schedule. I wrote that schedule. That is not in the Gold Paper.

The memecoin funds the family. The family funds the platform. The platform funds the stablecoin. The stablecoin funds the deals. The deals require the pardons. The pardons free the partners. The partners fund the platform. The President signs the executive orders. The executive orders inflate the assets. The assets fund the family.

I am the reason these events are unrelated.

[SYMMIO @symm_io]

Another 5 billion in total trade volume across the Symmio ecosystem in less than 30 days ⚡️

The future of derivatives are intent based and permissionless.

[Joe Lonsdale @JTLonsdale]

No idea if this is a good investment, but I love the quirkiness of capitalism.

The same class of people investing to advance AI, innovate in healthcare, or revolutionize US defense are also conspiring to deliver us superior versions of delicious bagel and schmear shops at scale.

[Savage @Savageboston]

BREAKING:

The Patriots will be featured on Hard Knocks in 2027.

Per: @RapSheet

[Aerodrome @AerodromeFi]

"Prediction markets are exceptionally good at truth discovery.

They crowdsource outcomes from individual, incentivized participants to get things right.

But most stop right there, predicting the future,

not helping to create it."

Enter Predictive Allocation.

[Braden Dennis 📊 @BradoCapital]

I'm pleased to announce we've expanded our partnership between @Perplexity_ai and @Fiscal_ai.

Fiscal AI's Data API now gives investors on Perplexity and Perplexity Computer accurate, source-backed financial data when performing research or vibing customized dashboards.

[Jomboy Media @JomboyMedia]

BRAYLON MULLINS FOR THE LEAD OMG

[J.P. Long @SoxNotes]

Connelly Early is the youngest Red Sox starter since Babe Ruth in 1916 to allow 1 or 0 runs and strike out 5+ batters in one of the team’s first 3 games of a season.

[Card Purchaser @CardPurchaser]

The Roman Anthony Celebration Mega Box 1/1 RC was just hit by reddit user u/R0b815

[Kydo @0xkydo]

"Crypto has been in need of a new elevator pitch, and I believe the founder of EigenCloud has found it: AI agents will become companies, and crypto will make them investable."

[Aerodrome @AerodromeFi]

In the last week, Aerodrome generated $1.55 million in holder revenue.

Over 50% more than the next-best DEX onchain.

And new revenue streams are coming.

With Aero.

[The All-In Podcast @theallinpod]

🚨INTERVIEW SPECIAL!: Four CEOs on the Future of AI: CoreWeave, Perplexity, Mistral, and IREN

(0:00) Intro live from Nvidia GTC
(0:37) CoreWeave CEO, Michael Intrator
(32:58) Perplexity CEO, Aravind Srinivas
(1:07:11) Mistral CEO, Arthur Mensch
(1:18:57) IREN CEO, Daniel Roberts

--------------------------------------

Our episode is sponsored by the New York Stock Exchange - a modern marketplace and exchange for building the future.

It all happens at the NYSE - https://t.co/cUEk8db7Sw

[Barry Silbert @BarrySilbert]

@Jason

[FunBaseballFacts @FunBaseballFact]

Larry Bird also played college baseball. For one game. As a dare. To a packed crowd.

Indiana State baseball coach Bob Warn kidded Bird about how real men play baseball. Bird told him "I could do that."

A couple weeks after losing the NCAA championship to Magic Johnson, Bird took the field at 1st base in the second game of a doubleheader against Kentucky Wesleyan.

Bird surprised everyone by going 1-for-2 and knocking in 2 RBIs. He also had 9 putouts at first.

He signed with the Boston Celtics two months later. #BaseballTwitter #LarryBird #Celtics #IndianaState #NBA #MarchMadness