Friendly reminder to those running validators and nodes on Ethereum Hoodi testnet - check your clients for updates before October 26th.
The Glamsterdam activation on Hoodi testnet is delayed.
Read more here: blog.ethereum.org/2026/10/22…
builder-benny retweeted
A resilient validator landscape is foundational to the decentralization and security of Ethereum.
On October 29, join experts from @Lionscraft_io, @ethereuminsti, @thedaofund and EY for a panel on ValOS and its role in strengthening validator operations.
📆 luma.com/c6t2hftd
So excited to join the folks at @ethereuminsti and accelerate Ethereum adoption!
Excited to welcome Ben Thalman as Research Lead at @ethereuminsti , based in Toronto.
Ben brings 15 years across digital assets and traditional asset management, most recently as Staff Protocol Analyst and Ethereum PM at Figment, and before that a decade at Cidel, a private bank, researching securities, trading and managing portfolios. He’ll lead the research that gives institutions a clear, independent view of what’s being built on Ethereum and why it matters.
Welcome to the team, Ben!
builder-benny retweeted
News: JPM Coin (JPMD), @jpmorgan's USD deposit token, is now live on @ethereum.
JPMD extends from Base to Ethereum L1, giving institutional clients native onchain cash that sits alongside the assets, collateral and counterparties they transact with already.
J.P. Morgan has now added a cash leg to the products it already live on Ethereum mainnet, with tokenized money market funds MONY and JLTXX both already on the network.
Ethereum is the home of onchain finance.
builder-benny retweeted
I don't recommend anyone scramble to move their funds to new wallets today. But we should take the risks to cryptography from AI-accelerated math seriously, and minimize our exposure to not just quantum-vulnerable cryptography, but also potentially AI-vulnerable cryptography.
The core new area of risk from this viewpoint is, unfortunately, ML-DSA / FHE / lattices.
(and it's also another reason, along with quantum, why ECDSA might fall even faster than expected, hence the "fresh address" recommendation)
So far most people have been in the mode of thinking "elliptic curves broken, hashes safe, lattices safe". But there is a good chance that the concrete security of lattices will take serious hits from the next two years of AI math.
The basic threat model is: factoring is something that naively takes 2^(n/2) time, but over decades smart people have found and optimized number field sieves, and degraded that to 2^O(n^(1/3)), which is why RSA keys and signatures need to be ~400 bytes (and not 64 bytes). What if there are skeletons in the closet like that, both for elliptic curves and lattices, that we are simply not smart enough to discover - but bots soon will be?
This is a major part of the reason why for the past year ethereum's lean roadmap has been going in the "hash-only" direction: no lattices, no ML-DSA, no Falcon, no lattice-based commitments inside ZK proofs, etc. Signatures in lean ethereum are all hash-based, either WOTS or SPHINCS-.
For signatures and proofs, we already know how to go hash-only. The bigger challenge is for *public-key encryption* - and this goes far beyond blockchains. Secure communication, anonymizing protocols, lots of things need public-key encryption.
And unfortunately there are long-standing mathematical theorems showing why public-key encryption cannot be done with hashes alone. You have to have some kind of trapdoor object that has at least one form of usable "structure" - either group theory (incl. isogenies) or lattices or code-based or potentially in the future even more newfangled and spooky things (local mixing?). But for anything that has structure, you should assume that AI will make at least some progress in breaking that structure. Here, one reasonable inference is that if you want to make something plausibly long-term secure, multiply the key sizes by 10.
To me that's a very plausible world and something not at all extreme to predict. If AI will bring us 50 years of math in 2 years, then that 50 years of math may very plausibly include a "naive factoring -> GNFS" level of improvement to our ability to break lattices. In that world, lattices will still exist, but they will have to be significantly bigger to guarantee the same level of safety.
And at those new larger sizes, hash-based constructions will beat lattice-based constructions on concrete efficiency in every use case where hash-based constructions are possible at all.
Theoretically, of course it's possible that hashes are broken too (eg. P = NP would imply that). But I think P = NP is very unlikely. And intuitively, it's much more likely that a mathematical object has exactly no exploitable structure (like hashes are intended to), than that a mathematical object has exactly ~3 forms of exploitable structure (for elliptic curves: associativity, Schoof, pairings) and not some secret fourth form of structure we have not yet discovered that greatly degrades its security (for elliptic curves, ECDLP and pairing security). Similar for LWE, SVP, RLWE and the zoo of lattice problems.
For this reason, we do not yet see any reason to worry and start padding the byte size of hashes (if we start to worry more, we would pad the round count first before doing anything to the byte size).
Concrete TLDR, my own personal views:
* Hash-based > lattice-based, in those situations where hash-based is possible at all
* For anything lattice-based, be much more paranoid on param sizes. Remember that blockchains are only a small portion of the cryptography story; this point goes far beyond blockchains and applies to eg. access to websites, secure messaging, Tor / VPNs ...
* For privacy protocols, strongly favor NOT putting encrypted notes onchain. Instead, send them offchain through some third-party mechanism.
* If it's not difficult for you, keeping your funds in addresses which have not yet been used to make a transaction is a good idea. If it's easy for you, do it. **But be careful about migrations; I personally have lost more money in botched migrations than I have lost in all hacks combined**.
* For multisig wallets, doing confirmations offchain is better than onchain, because this way the signatures of signer wallets do not get exposed to the public, so if ECDSA falls to AI much faster than expected, at least the multisig "gracefully degrades" to a 1-of-1 where the 1 is whoever was gathering the signatures - a much better place to be than "anyone can take the money"
firefly.social/post/x/210783…
builder-benny retweeted
Today I call upon the blockchain industry to calmly begin planning for "bunker mode". My personal recommendation is to set in motion a controlled mass migration of assets to fresh addresses, i.e. addresses whose pubkeys remain hidden behind a hash.
Holders, starting with large and sophisticated ones, should consider moving the bulk of their funds to addresses that have never signed a transaction. And when they do sign one, they should also move remaining funds to a new address (possibly generated from the same seed phrase).
Don't rush. While I believe there is cause for action a rushed migration would do more harm than good. Don't panic either. Moving assets to protected addresses is a simple, preventative step which does not require new cryptography or new wallets.
IMO it is now reasonable to brace for the possibility that ECDSA breaks before qday, in the worst case in months not years. By "break" I mean fast private key recovery (e.g. in one week) on available hardware (e.g. a large GPU cluster).
Recent days have been humbling for human mathematical intuition. Long-held, unquestioned hypotheses have fallen. This includes the n log(n) bound for integer multiplication and the 3SUM conjecture. In hindsight, May's unexpected disproof of the Erdős unit distance conjecture was our warning shot.
Yesterday's OpenAI drop made it clear that mathematical superintelligence is upon us. They say there are weeks where decades happen. We are about to live through weeks where centuries of mathematical progress happen. Could our magic 64-byte ECDSA signatures be too good to be true? Was it just security through obscurity all this time?
Elliptic curves feel especially vulnerable to superintelligence. Curves carry rich structure, with room for fancy tricks like Schoof, Frobenius, pairings. (By contrast, hashes are designed to minimise algebraic structure.)
Separately, as Ewin Tang can attest, an efficient quantum algorithm sometimes foreshadows an efficient classical one. We should be open to the possibility of a classical counterpart to Shor that breaks elliptic curves and RSA at once.
Also noteworthy is the striking under-representation of cryptographic breakthroughs among the 722 mathematical results OpenAI published. I've witnessed first-hand the US government censoring academic quantum cryptanalysis results. Backroom interventionism is my base case.
I urge large, sophisticated actors to lead by example. Project11's "risq list" (bitcoin-risq-list.projecteleven[.]com) is a great tracker of exposed BTC pubkeys. Binance, Bitbank, Robinhood, Bitfinex, and Tether have an opportunity to harden their cold storage. Next month I'll address institutions in London in a live Q&A (forum.ethereuminstitutional[.]org/london-2026).
Again, please do not rush. Wallets holding under 50 BTC enjoy partial cover from "Satoshi's shield", i.e. his 20K exposed addresses that hold 50 BTC each. Load-bearing signers like oracles and L2 security councils should consider rotating ECDSA pubkeys with every signed message and/or multi-signing with a hash-based schemes like SPHINCS.
Exiting bunker mode safely will require post-AI cryptography. My inclination is to go all-in on hash-based cryptography and avoid structured mathematical assumptions entirely, whether from curves, lattices, or isogenies. A single battle-tested hash (e.g. from the SHA or BLAKE families) yields plausible post-AI security.
The Ethereum roadmap on strawmap[.]org fully embraces hash-based cryptography with end-to-end formal verification as a response to the quantum threat. Those timelines must now be revisited and accelerated in light of mathematical superintelligence. I'll be pushing for maximum defensive acceleration.
Just a note of appreciation for @adietrichs.
We need good actors, especially on the issuance discussion and your comments on the ACD call were very helpful IMHO.
builder-benny retweeted
ETH staking volume on Fireblocks has more than doubled in six months.
Hosted by @omeramsel
Featuring the providers live on Fireblocks:
Ben Thalman @builder_benny · @Figment_io
John Mulreany @Joarbs4 · @Kiln_finance
Hosam Abdelaal @hosamm_mah · @BlockdaemonHQ
Artemiy Parshakov · @P2Pvalidator
Izzy @IsdrsP · @LidoFinance
June 18 · 1:00 PM EDT ↓ xitter.cf/i/spaces/1dGYlldlpgoKX
builder-benny retweeted
Glamsterdam is Ethereum's next protocol upgrade.
The upgrade brings meaningful changes to Ethereum's block builder market and exit queue — both areas that directly affect institutional staking operations.
@builder_benny breaks down the upcoming Glamsterdam upgrade below 👇
figment.io/insights/glamster…
builder-benny retweeted
AMA alert! 🚨
Today 12:30 PM UTC we’re live with @Figment_io, @LidoFinance, @P2Pvalidator, @Player1Taco and @puffer_finance digging into ETH staking, supply squeeze and what it means for holders.
Reply with your best question — top picks share 500 $USDT.
Tune in here: xitter.cf/i/spaces/1AKEmObnWPRKL…
Figment Inc is seeking to become Lido stVaults Identified Node Operator with the stVaults Professional Trusted Operator Designation.
[^part of the application process]
builder-benny retweeted
What if we could make the Ethereum transaction journey and block construction process faster, cheaper, more flexible, censorship resistant, & robustness?
What if we could do this today?
This is what the Blockspace Forum is about. 🧵👇
builder-benny retweeted
We are heading to @EthereumDenver next week! 🏔️
Send us a message to connect at the conference or schedule a meeting with the team below.
🔗 figment.io/meet-with-us-at-e…
builder-benny retweeted
🏛️ New benchmark for institutional staking.
Figment is now fully certified under NORS for Ethereum, an independent, evidence-based standard for node operator security, resilience, and governance.
Proud to be the first entity in North America and Europe to successfully complete NORS certification.
🔐 Security
⚙️ Operational resilience
📊 Governance & transparency
Read why NORS matters 👇
figment.io/insights/setting-…
builder-benny retweeted
2025 was a year characterized by industry momentum.
A year of pivotal advancement in regulatory clarity.
A year that staking crossed over into the traditional financial world.
As we welcome and plan for 2026, we express gratitude for 2025. The year the world’s largest markets, institutions, tokens and ecosystems embraced staking.
Staking arrived and Figment had our best year…yet.
builder-benny retweeted
🚀 Fusaka is (nearly) here.
Ethereum’s latest upgrade brings higher gas limits, PeerDAS sampling, and new blob requirements, all with major implications for ETH stakers & validator operators.
If you run validators, especially large clusters, now’s the time to review hardware + bandwidth plans.
Update below from @builder_benny 👇
figment.io/insights/fusaka-i…
builder-benny retweeted
🚀 Figment is bringing staking to stablecoins.
We’ve launched OpenTrade Stablecoin Staking Yield Powered by Figment — delivering ~15% average APR on stablecoins, powered by Figment’s institutional-grade infrastructure, OpenTrade’s yield engine, and Crypto.com custody.
We’re prioritizing security and legal protections often unavailable in DeFi lending and marketplaces.
👉 Learn more: figment.io/stablecoin-stakin…
builder-benny retweeted
ETH staking is evolving.
@LidoFinance V3 brings stVaults - customizable vaults with operator choice, fee control, and liquidity via stETH.
We break down what’s new, why it matters, and what institutions should watch. Learn more from @builder_benny 👇
figment.io/insights/lido-v3-…






















