If EF and Ethereum Were Under My Leadership
“#ETH to $10,000”
My First Week Plan
1. Halt ETH Sales immediately and Optimize Revenue
EF will immediately cease selling ETH for at least three years. Operational costs will be covered through AAVE lending, staking yields, and stablecoin borrowing. This ensures ETH supply remains intact, aligning with our deflationary goals and reinforcing market confidence.
2. Heavily Tax Layer 2 Solutions immediately
Significant taxes will be imposed on all Layer 2 projects, ensuring Ethereum generates at least $5 billion annually in taxes (whether in stablecoin or tokens). All collected taxes will be used to repurchase ETH and burn it in a fully decentralized manner, period.
3. Streamline EF Operations
EF staff will undergo a drastic downsizing, retaining only the most capable team members. Remaining employees will receive significant salary increases, transitioning EF into a purely merit-based system that rewards performance and results.
4. Adjust Rewards and Increase Fee Burns
Node rewards will be reduced, and more emphasis will be placed on fee-burning mechanisms. This ensures Ethereum remains DEFLATIONARY, solidifying its position as a store of value.
Focus Exclusively on Layer 1 and ETH reaches $10,000
All resources will be redirected toward Ethereum’s core Layer 1 development, prioritizing scalability, security, and adoption and ETH reaches $10,000.
With these decisive actions, ETH is poised to break $4,500 within the first week, setting the foundation for long-term success.
🏁 IN THE MOMENT 🏁
T-3 into the race weekend 🇬🇧
All eyes on 6 FREE new @redbullracing moments and new Abstract badges, designed by @TimpersHD & @0009ine 🎨
Look out for special prizes too 🎁
By Gate, on @AbstractChain
July 4–6 (2 drops/day, 00:00–23:59 UTC daily)
Stay tuned for more info!
#InTheMoment
Inner Igloo Recap🐧(2025-08-17)
$Pengu looking great from here. In the consolidation zone between 0.0315 and 0.0335, hit multiple times the past month as you can see. With what’s coming next for $Pengu, the only direction I imagine it going is up and green!! 📈🚀
Q4 is coming fast and hard, historically being the best quarter of the year for @pudgypenguins. Don’t fade the blue penguin 🐧🎣
1. @PlayPudgyParty (Aug 29 launch & pre-register)
2. QR wallpapers & 1 ETH bounty
3. @AbstractChain roadmap & big builds
4. @PenguAsia 🌏expansion
5. Mindshare milestone (200B+ views)
6. Institutional runway (@NasdaqBTCS)
7. Global brand plays 🏎️ (F1, IRL, arcades)
8. Deflation, burn & growth strategy
Introducing: The First Force 🫰
TAC's Genesis Soulbound NFT collection.
🗓️ June 17th/18th on @getgemsdotio.
Pick your traits, own your identity.
10,000 units. 1 billion users. One shot to be early. ✨
👀 $ES has been spotted on @Bybit_Official@EclipseFND’s token has officially appeared on the Bybit price tracker — chart is up, stats are loading… 👀
🟢Price? Still a mystery.
🟢Volume? About to come.
🟢Hype? Through the roof. 🚀
Are you ready for $ES to go live?
Great news!
After years of litigation, millions of your taxpayer dollars spent, and irreparable harm done to the country, we reached an agreement with SEC staff to dismiss their litigation against Coinbase. Once approved by the Commission (which we're told to expect next week) this would be a full dismissal, with $0 in fines paid and zero changes to our business.
This is hugely vindicating, especially because many people questioned my decision to engage in litigation with the SEC on this matter in 2023. People told me the courts would give a lot of leeway to the government. They said public market investors wouldn't like it. They said it would take years and cost us tens of millions of dollars in legal fees (which it did). They said the agency would use mafia tactics like trying to pressure other companies not to work with us while the lawsuit was underway (which they did).
But I knew a few truths that helped make it an easy decision to fight them in court:
1. The SEC was wrong on the law.
They were exceeding the authority given to them by congress by asking us to delist a number of assets that were not securities. We had taken a conservative approach to ensure we weren't listing any securities, and the SEC itself had allowed us to go public in 2021 after reviewing our listing standards in depth. We tried to “come in and register” but it turned out it was a fake offer, as every crypto company discovered. Regulators are supposed to enforce the law, but they can't make up new laws on the spot if they don't like the current ones, or weaponize a lack of clarity in the law.
2. Caving to their demands could have killed the crypto industry in America.
The SEC made it clear to us that the only way to avoid litigation was to delist the many assets they falsely claimed were securities. It was a bullying tactic, pure and simple, driven by Gensler's own political agenda. And if we had caved, it would have dramatically limited the scope of which crypto assets were allowed in the US, and pushed the industry further offshore, into the shadows. Never forget how close a few activists in government came to unlawfully killing an entire industry in America! It could have easily gone the other way. Thank goodness the founding fathers created the judicial branch, as a check and balance on executive power.
3. It was the right thing to do for our customers and the industry.
At the end of the day, it didn't matter what our chance of success was. I had to stand up for our customers’ and our industry’s rights. I also knew it would serve as a deterrent for future bad actors around the world we may have to engage with, for them to know that we won't be bullied or pressured. We are comfortable engaging in litigation across multiple fronts, indefinitely, while continuing to build. This is business as usual. As Bain in The Dark Knight says, "you merely adopted the dark; I was born in it".
Growing up I had a naive view that regulators exist to hold companies accountable. What I realized in this ordeal is sometimes, companies must hold regulators accountable who are painting outside the bounds of the law, to preserve freedom. Accountability can actually happen both ways. At Coinbase, our mission is to increase economic freedom, and I initially thought we could achieve this solely through our crypto products. But I'm increasingly realizing that we can move the needle on economic freedom in the courts and through our policy efforts as well, when we see bad actors in government around the world. We plan to do more of this.
I have to give credit here to the Trump administration, for winning the election, and for the departure of the activist head of the SEC, Gary Gensler, who orchestrated this unlawful action along with Elizabeth Warren, and a handful of their lackeys in congress. I feel confident we would have won this case in the courts either way, given our facts were so strong, but it certainly helped accelerate the process and drive accountability. I called out the sketchy behavior of the SEC back in 2021, and I believe this comment turned out to be prescient.
I want to give a shout out to all the other crypto companies who fought back with their own lawsuits (we certainly were not the only ones).
I want to give a shout out to all the crypto startups who couldn't afford the legal fees, and went bankrupt due to the administration's abusive tactics. Your company may have died, but crypto lives on. Don't stop building.
I want to give a shout out to both Democrat and Republican members of congress, who are working hard to ensure America leads on crypto. I know that Gary Gensler and Elizabeth Warren do not represent the entire Democratic party.
And I want to give a shout out to all the crypto holders in the US who elected pro-crypto candidates, on both sides of the aisle, to make sure your rights were preserved. It turns out the crypto voter is real, and showed up in the millions.
Finally, I expect we'll continue working productively with the SEC on any number of items over the years, just as we do with every agency around the world where we operate. I look forward to the SEC being reformed under Paul Atkins, Mark Uyeda, Hester Peirce, and DOGE, and new more sensible personnel coming into leadership roles. I commend the new leadership that is already in place for working to right this wrong - it's a great step in the right direction, and took courage. Now let's get some crypto legislation passed in the US to finally clarify the rules, and really kick off this next phase of building.
🚨Big Announcement 🚨
SegMint Adventurers are coming to Abstract ✳️!
Unlike the previous Adventurer collections on ETH and Polygon, the Abstract Adventurers collection will have a limited supply. All current OGs and Elite Abstractor role holders are whitelisted for this mint.
These Adventurers will play a key role in the SegMint ecosystem, so we're sure you'd want to get in on it 😉
We're also opening collabs now. If you want your communities to get WLs, DM us or open a ticket in our Discord server.
A list of whitelisted communities and more details about the mint will be announced in the coming week, keep your notis on☑️
Are you ready Adventurers? 🫡