Hot jobs print today further validates.
The labor market is ripping again and so is inflation. Rate hikes are coming, assuming we can’t get the strait open anytime soon.
New EIP!
pERC20 - Privacy-Native Fungible Tokens
🔗 https://t.co/DBDudAF6I7
Highlights:
- Not ERC-20 compatible by design: pERC20 removes public balance/allowance concepts (no balanceOf/approve/allowance/transferFrom) and replaces transfers with a ZK note-based interface (transfer(PrivacyCall)), because public balances would defeat the privacy goal.
- Privacy-native from issuance: tokens are always represented as encrypted ZK-UTXO notes (Orchard-style actions with Groth16 proofs); there is no “public-to-private shielding” step—transfers are note→note and amounts/participants are private by default.
- Public, on-chain verifiable supply: totalSupply remains public and is updated only through controlled mint(amount, ...) and burn(amount, ...); transfers must conserve value (valueBalance == 0), enabling “no invisible inflation” while keeping balances private.
- Built-in compliance via frozen-root binding: every action commits to the contract’s cmxFrozenRoot, and the ZK circuit must prove the spent note commitment is NOT in the blacklist SMT. Admin can update the root (setFrozenRoot) to freeze/unfreeze specific notes without revealing normal users’ balances.
- Security-critical invariants and checks: implementations must prevent double-spends with nullifiers and must range-check each public field (< Fr) to avoid nf + Fr-style bypasses; the core bundle execution must not be publicly callable to prevent unaccounted supply changes; signature points must be curve/field validated and replay protection must bind chainId + contract + note data.
ELI5:
This EIP proposes a new kind of token standard for Ethereum where people’s token amounts and who they pay are hidden by default. Instead of keeping a public “balance” per account like ERC-20, the token exists as many encrypted “notes” (like digital cash bills) that can be spent with zero-knowledge proofs. Everyone can still see the total number of tokens that exist (totalSupply) so the issuer can’t secretly create extra tokens. It also adds an optional-but-built-in “freeze list” mechanism: the token contract keeps a public fingerprint (root) of a blacklist, and the zero-knowledge proof must show you are not spending a frozen note.
401Ks are socializing the cost of a nearly 2 trillion dollar valuation on a company that loses shit tons of money and doesn’t even have a business model besides WiFi satellites
Unprecedented levels of grift and thievery going on here
No wonder Thiel pieced out to Argentina
$SPCX - SPACEX IPO SETS $75B RECORD LISTING TERMS
SpaceX set IPO terms at $135 per share, raising about $75 billion through 555.6 million shares, implying a $1.75 trillion valuation. The roadshow begins with institutional orders processed via S&P Global’s Equity Bookbuild platform. Demand is expected to be record-setting, with optional share over-allotments available. Trading is likely to start around June 12, with potential index inclusion and major capital markets system strain anticipated.
Travis Bazzana.
0-for-3 on the day. No hits in his last 8 at-bats. Bases loaded. Two outs. Down 0-2. Yankees stadium getting loud.
And he clears the bases on 101 MPH low paint.
This is a superstar.
JUST IN:
Tom Lee (@fundstrat)'s #Bitmine is down $8.9B on 5,416,901 $ETH ($10.03B).
Michael Saylor (@saylor)'s #Strategy is down $7.6B on 843,706 $BTC ($56.26B).
@AdamSchefter Alternative take is that they’re probably getting peak value for Myles. He’s no spring chicken, especially when the defense is already pretty well setup for success.
I hate the browns.