Crypto has a huge problem – and it’s one we almost never talk about honestly.
How do founders make hundreds of millions (or billions) from tokens they created before their products prove real utility or adoption?
In traditional markets, value follows performance: founders get rich because their company builds something people use, generates profit, and grows over time. In crypto, it’s often reversed. Tokens launch first, valuations skyrocket on speculation, and founders cash out long before the product is battle-tested or the network achieves meaningful usage.
The result is a strange inversion of incentives – enormous wealth built on potential rather than proof. And because tokens trade globally, that value is extracted from retail participants who are effectively subsidizing the experiment.
I’m not saying founders shouldn’t be rewarded for innovation. Many are building genuinely transformative tech. But when billion-dollar fortunes are realized before success is earned, it raises a fundamental question:
If the future value is still undetermined, why are the rewards already realized?
That disconnect is what keeps so many people skeptical of token models. Until the industry ties founder upside more closely to actual adoption and network usage, the “speculation over substance” narrative will remain deserved.
Meanwhile, back in reality, California — the 4th largest economy in the world — is running on 2/3rds clean energy with 25% of all new car sales being ZEVs. Not to mention, billions going back into the pockets of millions of Californians!
FOX (“EDITS THE TAPES”) NEWS MUST CANCEL THEIR WEEKEND STINKERS IMMEDIATELY!!! THEY ARE VERY DISHONEST AND ALL THEY DO IS TRASH ME, GAVIN C. NEWSOM, AMERICA’S FAVORITE GOVERNOR (AND MANY SAY THE MOST HANDSOME IN HISTORY, THANK YOU!). LARA TRUMP’S “SHOW” IS A TOTAL DISASTER. NO PERSONALITY, NO TALENT, VERY LOW ENERGY. SHE DESPERATELY NEEDS "COACHING" FROM CRAZY FATHER-IN-LAW!!! ALSO, WHY DID FOX LET MARK “NOBODY” LEVIN (I HAD TO GOOGLE HIM) TRASH ME???? HE SAID I AM TOO POPULAR ON SOCIAL MEDIA AND HE HATES THAT THE PEOPLE LOVE ME AND HOW I MAKE TRUMP LOOK LIKE THE WEAK LITTLE (HANDS) MAN HE IS! MARK SHOULD TAKE “NOTES” FROM JESSE WATTERS WHO KEEPS CALLING ME “DADDY” EVEN THOUGH I TOLD HIM NO THANK YOU!!! CANCEL THE “FOX NEWS STINKERS” NOW! THEY SHOULD NOT BE ALLOWED TO STINK UP OUR AIRWAVES ANY LONGER! AND PLEASE NO MORE NEGATIVE ADS ABOUT ME! THANK YOU FOR YOUR ATTENTION TO THIS MATTER! — GCN
ABC News: "The [suspect's] list included dozens of other Democrats from Minnesota, including Gov. Walz, Rep. Ilhan Omar, Sen. Tina Smith and Attorney General Keith Ellison, according to law enforcement sources familiar with the matter. Law enforcement officials are looking into whether the suspect may have been motivated by extreme views on abortion"
https://t.co/EF5H20cdki
I've always wanted to build something great. It's why I became a programmer.
When @renprotocol was abandoned and left for dead, and the community refused to let it die, we had to figure out what to do for v2. We had to decide whether to make incremental tweaks to an unsustainable v1, or risk it all to build something new — without knowing what it would even be but hoping we'd come up with something.
We decided to go for something new. It felt like jumping off a cliff and trying to build a plane on the way down, because we'd inherited the remnants of a bankruptcy and broken community without a product.
Quietly and relentlessly, all day, every day, we did the work. When we weren't heard from in public, we were researching, tinkering, experimenting, and getting feedback from other projects. After enough time, we came up with something that we became obsessed with. It's great, it's uniquely Ren, and it's our baby.
I can't think of anything more fulfilling than to build something of your own with a great team, share it with an open community of people and users from all around the world, and help grow it into an essential piece of the global financial infrastructure.
That's what motivates me.
The French overseas territory St. Pierre et Miquelon (population 5,800) now has the highest tariff rates in the world at 99%
Their exports are valued at just $3.5 million dollars a year. My guess as to what happened here is that they likely export a tiny amount (like $100 k worth of lobsters) to America without importing anything in return. So the insane White House algorithm (trade deficit/imports) would have produced this insane 99% tariff figure.
So unbelievably stupid, incompetent and insane
Anyone who still supports Trump (& Musk) at this point, knows they are wrong, and only don’t admit it because of their fragile masculinity and loneliness.
They want so desperately to be part of “the in crowd” and the toxic online culture is the one thing that makes them feel strong in a world that has otherwise passed them over or left them hollow inside.
So they’ll jump through hoops online, knowingly degrading the country, so they can feel the dopamine rush as Russian bots and racists slam the like button on their posts.
Since they grew up, it’s the closest they’ve felt to having a parent’s hug, or the validation of a friend, or to feeling powerful, to feeling seen.
So they’ll continue their menial existence, whether it’s at a dead end job, a loveless marriage, or simply a life of hopes and dreams unfilled - selling out every thing, just to have those little hits of dopamine push back that empty void and prop up their fragile self image, all so they don’t have to admit they are wrong, or broken, or sad or lonely, because the grew up with some jackass role model who told them “that’s not what real men do”
*mutes thread*
Great day for crypto — and Ren v2.
Tornado Cash is legal. Onchain privacy is a human right, and important for DeFi to flourish. Expect privacy pools to heavily complement v2.
The first real-time blockchain launched its public testnet. Feels like a good place for BTC, doesn't it?
The future is bright: private and real-time.
As it has Congressional ratification, failure to meet the obligations of Article 5 without the super-majority approval of Congress, is an impeachable offence.
And, under @marcorubio’s own bill from last year, so is even denouncing our NATO commitments without first having given 180 days written notice to the Senate foreign affairs committee.
So yeah Trump, please go ahead, try to not fulfill the obligations, so that Congress can do it anyway, and then dump your ass.
Canadians are done with Trump’s shit.
Instead of backing down, they’ve settled on $155B of retaliatory tariffs (on the same day they’ve asked the UK for nuclear guarantees against the US)
And here’s the critical part:
-Most Canadian imports to the US are raw materials, at preferred prices, that the US doesn’t have other sources for.
-Most US exports to Canada are finished products that Canada has other sources for, even if less preferred.
-US oil refining is 100% reliant on Canadian processing minerals.
-US fertilizer and thus US farming, is reliant on Canadian minerals and potash.
When it comes to trade, the unique relationship between Canada and the US means Canada can punch *FAR* above its weight in how its tariffs impact America.
You’d rather have $20 of generic Chinese tariffs, than $1 of targeted Canadian ones.
If Trump doesn’t back down on this, Canada can continue to tighten the screws.
And honestly the political will of Canadians united in hatred of this moment and not wanting to be pushed around, suggests that Canada’s population is far less likely to blink first, when compared to a divided, exhausted and price-gouged American population.
In wars we talk about the “defender benefit” in trade wars that holds true as well.
Having something worth fighting for and a unified hate of a common enemy is a powerful thing.
I would like to reiterate Ukraine’s commitment to peace.
None of us wants an endless war. Ukraine is ready to come to the negotiating table as soon as possible to bring lasting peace closer. Nobody wants peace more than Ukrainians. My team and I stand ready to work under President Trump’s strong leadership to get a peace that lasts.
We are ready to work fast to end the war, and the first stages could be the release of prisoners and truce in the sky — ban on missiles, long-ranged drones, bombs on energy and other civilian infrastructure — and truce in the sea immediately, if Russia will do the same. Then we want to move very fast through all next stages and to work with the US to agree a strong final deal.
We do really value how much America has done to help Ukraine maintain its sovereignty and independence. And we remember the moment when things changed when President Trump provided Ukraine with Javelins. We are grateful for this.
Our meeting in Washington, at the White House on Friday, did not go the way it was supposed to be. It is regrettable that it happened this way. It is time to make things right. We would like future cooperation and communication to be constructive.
Regarding the agreement on minerals and security, Ukraine is ready to sign it in any time and in any convenient format. We see this agreement as a step toward greater security and solid security guarantees, and I truly hope it will work effectively.