will

Crypto enthusiasm

[Tulsi Gabbard 🌺 @TulsiGabbard]

Yesterday was my final day as Director of National Intelligence. I declassified and released never-before-seen documents exposing the truth about Fauci directing millions of US taxpayer dollars to fund dangerous gain-of-function research at the Wuhan lab, worked with the Intelligence Community to suppress the truth about his actions and hide the virus’ lab-leak origins, and lied to Congress while under oath in 2024. It’s time you know the truth. Go to https://t.co/tVwWp0TxZ4 to see for yourself.

[will @willchen777]

@TaikiMaeda2 @izebel_eth Never afraid to say your opnion afterward.

[will @willchen777]

@mert Bankless

[will @willchen777]

@CryptoGodJohn Just buy and hold. And enjoy the life

[will @willchen777]

@bittingthembits If people not get punished cause they did the bad thing, the system can’t get improved.

[Aylo @alpha_pls]

The tricky thing about this bear market is you were forced to get into position for the winning alts much earlier than previous ones.

Neither hyperliquid:native nor $ZEC are in a bear market. They have decoupled whilst BTC, ETH and SOL are technically bearish when looking at the structure.

Usually, there are always a few alts that do well in a bear market into the new bull market, but it has tended to happen after BTC has more definitively entered an uptrend (not including small caps).

This is the first time I've witnessed such strength from large caps of this size whilst majors remain in a bear. They bottomed early and reclaimed structure while majors didn't. HYPE at 15B+ and ZEC at $11B doing this while majors are 35–55% off ATH is the part that's genuinely new.

LINK + BNB did it in 2019, but was much smaller, but I guess you could say crypto TOTAL market cap was much smaller, so maybe it is similar to that.

Timing buys in bear markets when you have conviction that assets will eventually be much higher in the coming years is silly.

You get positioned, and you stomach some potential downside if it comes to that.

I've always hoped that crypto assets would trade on their own fundamentals/catalysts/narratives rather than being totally beholden to BTC PA (of course extreme vol will still cause correlation, which is no different in equities land).

Maybe we have matured to the point where this is possible because we have additional flows from ETFs (Hype ETFs seeing huge inflows) and tokens with real PMF.

It's a new era (crosses fingers).

[will @willchen777]

@Yizhiyangfund 希望不只跑出一個，而是好幾個

[will @willchen777]

@realbrunoro @jswihart @zodl_app Me ,too. Ledger support is critical if I want to transfer ZEC in hodl wallet

[David Sacks @DavidSacks]

UPDATE: the Clarity Act has passed out of the Senate Banking Committee. Congrats to Chairman @SenatorTimScott @SenLummis @BernieMoreno and their staffs on a job well done. Thank you also to @SenThomTillis for his efforts to ensure that today’s vote was bipartisan.

[Senate Cloakroom @SenateCloakroom]

Confirmed, 54-45: Confirmation of Executive Calendar #727, Kevin Warsh, of Florida, to be Chairman of the Board of Governors of the Federal Reserve System for a term of four years.

[will @willchen777]

@const_reborn How it will impact to the agent on Bittensor?

[Business Insider @BusinessInsider]

Polosukhin coauthored the seminal AI research paper that's the reason for the "T" at the end of ChatGPT. https://t.co/0fp0d80Ets

[will @willchen777]

@ViewsOfChris bittensor:native

[will @willchen777]

@JesusMartinez Why did people need Bitcoin? Why do people need Bitcoin? Any thing changed? I think it’s the first question that we should ask ourselves.

[will @willchen777]

@Axel_bitblaze69 Maybe I will just choose not to use Claud

[MartyParty @martypartymusic]

Degen Update 🤣🤣🤣

[Jesus Martinez @JesusMartinez]

Sam Dare just dumped 37,000 TAO on his own subnet holders.

Roughly $10 million. In two clips. After publicly accusing Bittensor of being centralized.

Then he walked.

This is the Covenant AI exit nobody is telling you the full story about.

The setup.

Sam Dare runs Covenant AI. They operated three subnets on Bittensor. Templar (SN3), Basilica (SN39), Grail (SN81).

Templar was the crown jewel. The team behind Covenant 72B. The model Jensen Huang shouted out on All-In. The reason TAO ran 90% in March.

Yesterday Sam posted a long thread accusing Bittensor founder Const of "decentralization theatre."

Hours later he sold his bags.

The allegations.

• Const suspended emissions to Covenant's subnets
• Const removed Sam's moderation rights over his own community
• Const deprecated Covenant's subnet infrastructure
• Const dumped TAO at strategic moments to apply economic pressure
• A three-person multisig that's actually controlled by one guy

Sounds damning. Until you read Const's response.

Const's actual response.

• "I do not have the ability to suspend emissions." He sold 1% of his alpha holdings on three Covenant subnets that were on near-100% burn code. Same buy/sell rights every TAO holder has.
• He didn't remove Sam as a Discord mod. He gave Sam a temporary timeout for deleting honest criticism from his own community channel. Mod role was reinstated.
• "Deprecating infrastructure." Const doesn't even know what that means.
• Less than 1% of what Const had personally invested in Sam's teams. Visibility is impossible to avoid in his position.

Const previously gave Sam a 2,000 TAO bonus and invested thousands of TAO into his subnets.

Const's "dump" was around 200 TAO.

Sam's dump was 37,000+ TAO.

The rug.

That's $10 million pulled from holders who believed in the Covenant 72B story.

Subnet holders are catastrophically down. The "noble dev exposing the evil founder" framing falls apart the second you check the wallet.

What Const is actually building next.

Const answered a DM from @TaoOutsider right after the exit. He sounded calm. Called it a "spring forward moment."

Here are some suggestions @0xSammy gave for TAO:

• Lock-based subnet ownership. Subnet ownership tied to a team's long-term economic commitment.
• Vesting schedules visible onchain so investors see unlocks in advance.
• Founders won't be able to sell emissions as they receive them.
• Exit cool-down periods so leaving teams can't dump 100% at once.
• Headless subnet architecture so no single team can pull the plug.
• Protocol-level IP retention so models trained on Bittensor compute stay with the network.
• Onchain revenue sharing flowing back to alpha holders.

These are the changes Bittensor needs right now. I hope this $10M rug will force these changes to happen sooner, rather than later.

The contrarian take.

Most people are watching this and concluding Bittensor is broken.

I'm watching this and concluding Bittensor is finally maturing.

Const built the team. Const funded it. Const did most of the research on Templar. Sam was the face. The compute, the emissions, the incentive design that made Covenant 72B possible. None of it leaves with him.

Someone else can take that model and build a bigger run on the same network.

The subnets to watch right now per Stillcore Capital's Mark Jeffrey:

• SN64 Chutes. Inference at 1/6th the cost of competitors.
• SN62 Ridges. AI coding assistance beating Claude and Cursor on SWE-bench at 1/770th the cost.
• SN4 Targon. $42M valuation.
• SN9 IOTA. Decentralized training infrastructure.

(Also SN50, 68, 65, 44, 18, 85, 17, 48, 93, 54)

The TAO bull thesis didn't need Sam Dare. It needed proof that builders can build on permissionless infrastructure.

Covenant 72B was that proof.

It still exists. The network that made it possible still exists.

Sam left. The thesis didn't.

[will @willchen777]

@travelbai 今天看到關於app store 封鎖一些vpn的消息，感覺vpn的隱私性問題開��被人注意到

[U.S. Securities and Exchange Commission @SECGov]

TODAY 🚨: The Commission issued an interpretation that clarifies the application of federal securities laws to crypto assets.

This is a major step to provide greater clarity regarding the Commission’s treatment of crypto assets.

Read the release here: https://t.co/DDykVLHZQI

[MartyParty @martypartymusic]

The United States Department of the Treasury admits crypto mixers have legitimate privacy uses on public blockchains.

In a March 2026 congressional report titled "Innovative Technologies to Counter Illicit Finance Involving Digital Assets" (submitted under the GENIUS Act framework), the Treasury explicitly acknowledges legitimate privacy uses for crypto mixers on public blockchains.

Key excerpts from the report include:“Lawful users of digital assets may leverage mixers to enable financial privacy when transacting through public blockchains.

For instance, individuals may use mixers to protect sensitive information on personal wealth, business payments or charitable donations from appearing on a public blockchain.”

“As consumers increase their use of digital assets for payments, individuals may want to use mixers to maintain more privacy in their consumer spending habits.”

This represents a nuanced shift in tone from earlier Treasury actions (e.g., 2022 sanctions on Tornado Cash and other mixers like Blender, where the focus was heavily on their illicit exploitation by actors like North Korea's Lazarus Group, ransomware operators, and money launderers).

While the department continues to highlight risks mixers remain high-risk for obfuscating illicit flows and have been targeted in sanctions and proposed regulations the report recognizes that mixers aren't inherently criminal and can serve valid privacy needs in transparent blockchain environments.