I've spent years building toward this moment. The Clarity Act is the most consequential financial legislation of this generation and we are going to get it done.
Anthropic reports Claude now writes over 80% of its own production code — meaning an AI is the primary author of the systems training future versions of itself. Claude's research judgment matched human experts 22% of the time in 2024. Today it's 64%.
The recursive loop has started.
JUST IN: Anthropic co-founder Jack Clark reportedly warned new recruits to “get hobbies that aren’t computers,” saying the company is building a “superhuman coder with nation-state hacking capabilities.”
JUST IN: Senator Cynthia Lummis calls JPMorgan CEO Jamie Dimon's CLARITY Act comments "really distasteful" saying he either "hasn’t read the bill or wants to mislead people".
Bitwise CEO: What makes Silicon Valley irreplaceable? Trust.
"Some systems work on credit scores, other systems work on contracts. Silicon Valley works on people's reputations and trust."
As a byproduct, things move very fast, and the person you need is usually just one hop away.
It's not the weather or the offices - it's an invisible network that lets the right people find each other at speed.
FT @HHorsley@KevinWSHPod@Bitwise.
🚨ALERT: Over half a TRILLION DOLLARS has been wiped from the crypto market cap in just 25 days.
Bitcoin alone lost over $400 BILLION in market value as $BTC touched the $61K level.
This distribution phase feels like a massive change of hands.
Bitcoin investors' average cost basis is around $53K.
Historically, bear markets ended only after the price fell below the realized price. I thought that level would be hard to revisit, given institutional inflows and MSTR barely selling any BTC.
But current price action suggests unusually strong sell pressure.
• Since Jan 2023, MSTR bought 711,206 BTC and sold only 32 BTC, removing 711,174 BTC from circulation.
• Since BTC was also $63K in Mar 2024, ETFs absorbed 509,102 BTC and MSTR bought 650,706 BTC. That is 1,240,808 BTC absorbed, yet price is back at the same level.
• For context, exchange reserves are around 2.7M BTC, and Satoshi is estimated to hold around 1M BTC.
More BTC than Satoshi’s stack, nearly half of exchange reserves, has been absorbed, and price is still back at the same level.
The Ethereum not ETH stuff is the mental fallacy that triggered me into writing and podcasting in the first place.
There is no strong Ethereum without an ETH worth trillions. Without ETH as a global store of value, Ethereum is a failed project. Full stop.
ETH is economic bandwidth for DeFi. It is the only asset maximized for CROPs, fail at high value ETH, fail at CROPs, fail at Ethereum.
Saying you’re bullish Ethereum not ETH is like saying you’re bullish America not the American economy. They are one and the same - economic engines.
Better to admit Ethereum is a failed project than “Ethereum not ETH”.
So spew that weak blockchain not crypto stuff out of your mouth, it doesn’t make sense for BTC, ZEC, ETH, or any truly crypto native project.
🚨 BREAKING
🇺🇸 FED IS SCHEDULED TO INJECT $6.5 BILLION INTO THE FINANCIAL SYSTEM TOMORROW AT 9:00 AM ET
JUST AHEAD OF THE U.S. MARKET OPEN
THIS IS GIGA BULLISH FOR THE MARKETS
🚨BREAKING: Coinbase launches pre-IPO trading, starting with SpaceX.
Coinbase now offers pre-IPO perpetual futures, allowing non-US users to trade the price of private companies before they go public.
Trade it before Wall Street gets it.
🚨LATEST: BITMINE FILES FOR PREFERRED STOCK OFFERING WITH A 9.5% YIELD
Bitmine is raising fresh capital just weeks after its largest ETH purchase of 2026, edging closer to its goal of owning 5% of Ethereum's supply.
The company recently expanded its buyback program to $4 BILLION and is now tapping preferred stock markets to fund further accumulation.
JUST IN: Scientists say AI has decoded communication patterns in mice, dolphins, apes, birds, whales, & cuttlefish — could eventually lead to humans communicating directly with animals.
The next economy won't be visible to humans. AI agents will transact, settle, and coordinate value at machine speed, and the only rails built for that are crypto.
In this episode of The Journeyman, I explain why the major layer 1s aren't just crypto infrastructure. They're the coordination substrate for an invisible economy that's already being built. As ever, please enjoy!
🚨 CRYPTO INVESTORS ARE RUSHING FOR THE EXIT !!
Digital asset funds saw $1.67 BILLION in weekly outflows, marking the 3rd STRAIGHT week of withdrawals and the 2nd LARGEST weekly exit of 2026.
S&P at records while BTC sits under 74K. Everyone calls it decoupling. It's just crypto lagging. Crypto is the most cyclical asset there is, always a catch-up trade. Risk-on is elsewhere, it finds its way back.
Time taken to reach $1T valuation:
• Apple - 42 years
• Microsoft - 44 years
• NVIDIA - 30 years
• Amazon - 24 years
• Google - 22 years
• Meta - 17 years
Anthropic is on track to reach the same milestone in just ~5 years, largely driven by Claude AI.
Absolutely insane.