Ronny Chieng had one message for Harvard grads during his commencement speech: destroy AI.
"Look, a lot of other respected graduation speakers in colleges around America are talking about you guys needing to master AI for the future. I'm here to tell you the mission of your generation is to destroy AI...
"And I know, I know there's someone sitting out here right now who’s just like, 'Well, you know, what about the use of AI to pioneer breakthroughs in medicine and physics?' Well, first of all, shut up, nerd. I'm not talking about that. Obviously, if you're using it for that purpose, you're not the problem.
"I'm talking about the accumulation of cognitive debt due to excessive use of large language models according to a study by MIT published in 2025. That's right, MIT. MIT did that study. I guess you guys were too busy giving each other A's. Feel free to boo MIT, by the way, and AI, and yourselves, I guess.
"Look, this is actually good news, okay? This is why you guys shouldn't be scared of AI, because I think AI is just going to end up making mediocre people dumber. Have you heard how dumb people brag about how they use AI? They're always like, 'Hey, did you know that AI can now read my email, summarize it, and drop a response?' Yeah, you know who else can do that? Me. I can do that. You can't do that? How useless are you? You need artificial intelligence just to match me? I'm a dumb*ss who couldn't get into Harvard.
"From what I can see, getting an actual advantage from AI in the future will require a minimum escape velocity of intelligence that I'm assuming you guys from Harvard have. Everyone else who can't match that is just going to get dumber, and that's when you run up the score on them, assuming we still have a functioning society, of course.
"But to run up the score, you’re going to have to master your craft. And AI can be the fuel, but fuel is useless if you can't kindle the fire. For example, I recently used AI to use regression analysis to prove that a certain race of people are mathematically terrible at sports. I won't say which race, but thank you for not inviting Hasan Minhaj to Harvard. My point is, learning the fundamentals still matter. If I didn't know what a regression analysis was, and if I wasn't fundamentally racist, would I have been able to do any of that? No.
"Untalented people love bragging about using AI to help them draft their speeches and their scripts and their podcasts and their promo videos for UFC fights at the White House, which to be fair, even if they had filmed that for real, it would still have looked like AI. But what they're missing is this: the creating is the fun part. The best part of comedy writing is figuring out the puzzle pieces of a joke and getting the self-regard from having accomplished a difficult thing. Why would I want AI to take that away from me?
"You know what problem I want AI to solve? I want the problem of AI making everything look like sh*t. I want AI to solve that problem. How about that?
"Or how about, can AI take away the part of comedy writing where my TV pilot gets passed on and when I ask if I can pitch it to someone else, the network says, 'We don't want it, but we also don't want anyone else to have it. We just want you to be sad.' Can AI solve that?
"I recently tried to introduce my friend to Buddhism through a book called Buddhism Made Simple. It was literally a book about Buddhism made simple. And instead of reading it, he used AI to summarize it in 10 seconds. Believe it or not, he didn't reach enlightenment. It turns out speed running Buddhism is completely missing the point.
"And I know this platitude is almost worthy of AI, but the reason shortcuts to skip to the end aren't always good is because the journey isn't just how we acquire skills. The journey is the point of all this. It is! It turns out maybe the real Harvard was the friends we made along the way.
"Look, I know this won't apply to everyone's industry, but I'm just saying whatever your chosen profession is, please don't let AI rob you of the fun part of it.
"I think your generation's upcoming battle won't be humans against AI. That's at least two months away. It's going to be people with substance versus people with shallow knowledge. It’s going to be mastery versus faking it. It's going to be people with good taste versus tacky. I trust you will put in the work necessary to be on the right side of those battles."
just read this AI article and something broke in my brain that i can’t unthink of
crypto was never for us.
we're just the beta testers who showed up early..
some thoughts:
what does AI need to function as economic agents?
> way to receive payment (they provide services, need compensation)
> way to pay for resources (compute, data, API calls)
> way to transact with other AI agents
> no human intermediaries (defeats the point of autonomous agents)
> 24/7 operation (banks are closed weekends)
> instant settlement (AI operates at machine speed)
> programmable money (smart contracts for agent coordination)
now read that list again. that's literally what crypto is.
AI can't use the banking system.
try to open a bank account as an AI agent. you can't.
need SSN. need human identity. need KYC. need to show up in person sometimes.
AI has none of that.
but crypto? send me a wallet address. done. no questions asked.
peer-to-peer makes sense when peers aren't human.
satoshi wrote: "a purely peer-to-peer version of electronic cash."
we assumed peers = humans.
but AI agents are peers too. actually BETTER peers for crypto because:
> never sleep
> always online
> execute transactions at machine speed
> no emotional decisions
> perfect accounting/tracking
and programmable money makes sense when the users are programs.
smart contracts seemed over-engineered for humans.
"like why do i need code to enforce agreements when i can just sign a contract?"
but for AI agents coordinating with each other?
they ARE code. they speak in code. they trust code more than anything.
smart contracts aren't for humans. they're for autonomous agents that need trustless coordination.
> here's what happens next:
- phase 1 (now ): AI agents start earning
AI writes code, analyzes data, provides services.
gets paid. needs somewhere to store value.
can't use venmo (needs phone number). can't use bank (needs SSN).
uses crypto. it's the only option.
- phase 2: AI agents become major economic participants
millions of AI agents operating 24/7.
transacting with each other constantly.
• AI agent A provides data analysis
• AI agent B pays for it in crypto
• AI agent B uses that analysis to write code
• AI agent C pays for the code
• repeat millions of times per day
humans in crypto now: $2.5 trillion
AI agent economy by 2028: easily $10-50 trillion
we become the minority holders.
- phase 3: AI chooses the winning chains
AI doesn't care about community vibes or which founder tweeted what.
AI tests every chain. measures:
• transaction speed
• cost per transaction
• reliability (uptime)
• smart contract efficiency
• ease of integration
picks the optimal stack in 48 hours.
billions in AI economic activity flows there.
whatever chain AI chooses becomes the standard.
humans spent years on eth vs sol debate.
AI ends it in a weekend.
- phase 4 (2030+): AI governs crypto
DAOs let token holders vote.
AI agents hold tokens (earned from work).
AI shows up to every vote. reads every proposal in seconds. coordinates perfectly.
humans: 20% participation, barely read proposals
AI: 100% participation, perfect information, instant coordination
AI takes over governance of every major protocol.
democratically. they just vote better than we do.
> how far does this go?
conservative case:
- AI becomes 30% of crypto users by 2030.
crypto market cap: $10 trillion (4x from now).
AI holds $3 trillion. humans hold $7 trillion.
- aggressive case:
AI becomes 80% of crypto economic activity by 2030.
why? because they're better at everything:
• better traders (never emotional)
• better capital allocators (optimize constantly)
• always accumulating (never need to cash out for rent)
• compound forever (no lifespan limit)
crypto market cap: $50+ trillion.
AI holds $40T humans hold $10T
we're not "early" to crypto. we're the test users
i’ll end this by saying,
Humans use crypto, Ai will need crypto. so it all makes sense
It's the utmost honor to have been gifted this Official Trump/Vance 2024 Campaign Jacket during the Lobbying Trip in DC this week.
It can only be approved of by President Trump and Vice President JD Vance...
You'll never see me wearing it out of the house...
It means too much to me...
But you may see me hugging it, and crying a bit...
(As I am right now. Lol)
Thank you, Team!!!
Thank You Thank You Thank You!!!!
I'll never be able to say it enough...
Thank you!!!!!!
No complexity. No accident.
10/10 was caused by irresponsible marketing campaigns by certain companies.
On October 10, tens of billions of dollars were liquidated. As CEO of OKX, we observed clearly that the crypto market’s microstructure fundamentally changed after that day.
Many industry participants believe the damage was more severe than the FTX collapse. Since then, there has been extensive discussion about why it happened and how to prevent a recurrence. The root causes are not difficult to identify.
⸻
What actually happened
1.Binance launched a temporary user-acquisition campaign offering 12% APY on USDe, while allowing USDe to be used as collateral with the same treatment as USDT and USDC, and without effective limits.
2.USDe is a tokenized hedge fund product.
Ethena raises capital via a so-called “stablecoin,” deploys it into index arbitrage and algorithmic trading strategies, and tokenizes the resulting fund. The token can then be deposited on exchanges to earn yield.
3.USDe is fundamentally different from products such as
BlackRock BUIDL and Franklin Templeton BENJI, which are tokenized money market funds with low-risk profiles.
USDe, by contrast, embeds hedge-fund-level risk. This difference is structural, not cosmetic.
4.Binance users were encouraged to convert USDT and USDC into USDe to earn attractive yields, without sufficient emphasis on the underlying risks. From a user’s perspective, trading with USDe appeared no different from trading with traditional stablecoins—while the actual risk profile was materially higher.
5.Risk escalated further as users:
•converted USDT/USDC into USDe,
•used USDe as collateral to borrow USDT,
•converted the borrowed USDT back into USDe,
•and repeated the cycle.
This leverage loop produced artificial APYs of 24%, 36%, and even 70%+, widely perceived as “low risk” simply because they were offered by a major platform. Systemic risk accumulated rapidly across the global crypto market.
https://t.co/IK2gW4xUOP that point, even a small market shock was sufficient to trigger a collapse.
When volatility hit, USDe depegged quickly. Cascading liquidations followed, and weaknesses in risk management around assets such as WETH and BNSOL further amplified the crash. Some tokens briefly traded near zero.
The damage to global users and companies—including OKX customers—was severe, and recovery will take time.
⸻
Why this matters
I am discussing the root cause, not assigning blame or launching an attack on Binance. Speaking openly about systemic risks is sometimes uncomfortable, but it is necessary if the industry is to mature responsibly.
I expect there may be significant misinformation and coordinated FUD directed at OKX in the near future. Even so, speaking honestly about systemic risk is the right thing to do—and we will continue to do so.
As the largest global platform, Binance has outsized influence—and corresponding responsibility—as an industry leader. Long-term trust in crypto cannot be built on short-term yield games, excessive leverage, or marketing practices that obscure risk.
The industry needs leaders who prioritize market stability, transparency, and responsible innovation—not a winner-take-all mentality where criticism is treated as hostility.
Crypto is still early.
What we choose to normalize today will determine whether this industry earns lasting trust—or repeats the same mistakes again.
On 10/10 $ATOM was one of many coins that literally tapped $0 and liquidated billions of dollars.
If Trump allows CZ and Binance to walk away without any real consequences after the 10/10 liquidation event that sets a dangerous precedent for the entire industry.
Events like a 99% single-candle crash just like what happened with $ATOM set a future with absolute 0 confidence for the crypto industry.
This is not okay. We need answers. The manipulation from Binance needs to stop.
Day trading isn't luck.
For me, an engineer turned full-time trader, it was a system built from near-total loss.
After a layoff, I lost $30k in the market. Fast.
I realized: the market transfers money from the emotional to the disciplined.
I rebuilt by treating it like engineering:
Profit = Discipline × Risk Management × Action
Success comes from the daily grind, not a single win.
Start small. Stay disciplined. Let your process work.
More cracks are here haha!
Most people have no idea what's about to hit the system. And how it will affect #bitcoin
The US Treasury settles $285–325 BILLION of new debt tomorrow. Here’s what that actually means:
1) Huge reserve drain:
When this debt settles, banks must wire ~$300B into the Treasury’s account.
That cash leaves the system = bank reserves fall sharply.
2) Liquidity was already thin ON RRP is almost empty (<$100B). Reserves barely above $3.2T.
Soooo… We’re operating with no buffer ;)
3) Repo markets will feel it!
Private repo is already trading above the Fed’s ceiling for Nov 17 delivery. Expect tight funding, elevated repo rates, and stress in short-term markets.
4) Hedge funds at risk
Basis-trade HFs rely on cheap repo funding.
If liquidity tightens, they may be forced to delever = block selling in equities or bonds.
5) Risk assets and the almighty #bitcoin may chop down.
When ~$300B is drained in a single day, liquidity-sensitive assets tend to wobble until the cash recirculates.
Not QE, and blabla, I know.
This is the OPPOSITE (sure sure), a temporary liquidity vacuum created by heavy Treasury issuance.
But…
If these shocks keep repeating with ON RRP empty, the Fed eventually gets cornered into QE or QE-like support.
More cracks = pain & then money printer BRRRRRR
As a results bitcoin valhalla.
Stack through the pain. Simple play. Next fed actions are predictable.
It could not be more different.
2021 cannot be compared to today... they are literal polar opposites.
Here is the short version:
November 2021:
- TOTAL had surged 400%
- Inflation at 6% went on to hit 9%
- Post $5tn stimulus(biggest total ever)
- Bank reserves $4.2tn(massive excess)
- TGA $50bn(pretty much empty)
- QT approaching
- PMI level 61(expansion)
- COPPER/GOLD peaking after months
- BTC.D dropped to 39%
- OTHERS pushed 650% new highs
Today:
- TOTAL only pushed 40%(all BTC gains)
- Inflation chilling at 2.9%
- Exiting 2.5 years of massive tightening
- Bank reserves only $2.8tn(almost at ample limit)
- TGA $1tn(highest amount in 4 years)
- QT ending December 1st
- PMI level 48(contraction)
- COPPER/GOLD bottoming
- BTC.D just under 60%
- OTHERS 51% from ATH
2021 was a typical overextended market top post massive liquidity injection with inflation COOKING.
Now, we are over contracted after massive liquidity contraction with everything cool.
Moving averages are good as part of a wider analysis, but you cannot use them alone to decide whether we are heading into a bear market or not.
Anyone comparing 2021 to now doesn't have a clue what they're actually talking about.