leff retweeted
Honestly these seem like mild asks from Democrats.
Maxine Water's "Crypto Investor Bill of Rights":
* All exchange withdrawals within 24 hours
* Customer assets segregated and bankruptcy-remote
* Monthly proof of reserves with auditor attestation
Overall, sounds constructive.
🚨SCOOP: House Democrats are discussing plans to expand the Crypto Investor and Consumer Bill of Rights, @RepMaxineWaters’ amendment to the Clarity Act in 2025, into a broader crypto “market structure” bill next Congress.
The proposal would fold in Democratic Clarity Act provisions originally offered by Waters in the House (which were not adopted), as well as provisions Senate Democrats were able to agree to with Republicans before the September cloture vote, according to three industry sources who have spoken with Democratic staffers.
Some of the proposals under discussion are said to include giving the @SECGov more of a role in supervising the crypto markets, and a more limited role for the @CFTC. Additionally, it’s likely that further ethics provisions will be offered to restrict the crypto activities of President Trump and other federal officials.
Republicans are calling this a “messaging bill.”
leff retweeted
There are no sellers left in crypto.
* 3.7% inflation print >> Doesn't matter
* AI bubble bursting >> Doesn't matter
* Binance hack >> Doesn't matter
* Election tsunami >> Doesn't matter
leff retweeted
Looks like Binance just got hit by the biggest hack in crypto history.
~$1.8B frozen in USDC / USDT so far, so roughly $1.7B in unremediated losses.
Thankfully, Binance is by far the most profitable exchange in crypto. They're good for it. This is considerably less than what they make in profit in a year. So no need to panic if you're a Binance customer.
All of crypto is getting pentested right now. If you are under-investing in AI security / pentesting, now is the time to fix that.
leff retweeted
Anthropic just officially filed for its IPO, with trading expected to start in mid November, this year at the latest.
Pre-markets put the targeted valuation somewhere around $1.8 trillion, which could make it maybe even the biggest IPO of all time.
this is likely going to be two things at once:
1) the top of the AI bubble.
2) one of the biggest wealth generation events private markets have ever seen, unlocking enormous amounts of liquidity and freeing up fresh capital to rotate into new startups and new markets.
only interesting question left is what thousands of newly rich employees and early investors do with their money the day the lockup ends.
I might have an idea or two...
Anthropic has filed an S-1 registration statement with the SEC related to its proposed IPO.
Read more: anthropic.com/news/s1-sec
Legal disclaimer: A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This post does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
leff retweeted
Daily dump of ATHs across the board for @Collector_Crypt:
- a stunning 106,023 packs opened in a single day, 2x their previous record. that alone generated more than $22M in gross revenue yesterday.
- thanks to PumpFun, revenue from partner integrations hit a new ATH too, with 49 partners now building on top of the CC API. Collector keeps cementing its position as the infrastructure provider for onchain collectibles, building a serious moat through the composability that comes with it.
- the number of unique wallets holding at least 1 tokenized collectible from CC crossed 20k for the first time. collectors are collecting.
- DAUs had been averaging around 1,000 for months. then tapping into PumpFun's distribution made that number explode, jumping 6x to more than 6,200 users yesterday. the Collector family is growing at an accelerating pace.
the only ATH still pending is solana:CARDSccUMFKoPRZxt5vt3ksUbxEFEcnZ3H2pd3dKxYjp itself, from Sep 14th 2025. ironically, the fundamentals have 20x'd since then.
you do with that info whatever you want.
leff retweeted
I was wrong.
Agents don't need crypto. It's us humans who do.
I break down what the industry got wrong in my @token2049 talk, Agents + Crypto: What's Real and What's Cope 👇
leff retweeted
Added a bit more robinhood:0xc4f730335fb9e439ca5552f7b52b8e638c4245b0.
Well over 10,000 have Note Systems on test net now.
Chart is compressing at these lows, and to me, looks like the kinda setup where a decent green candle just happens.
3.5x to ATH here.
The overall Robin Hood ecosystem looks bottomed to me.
Betting on robinhood:0xc4f730335fb9e439ca5552f7b52b8e638c4245b0 being a strong performer on the overall next leg.
Time will tell!
leff retweeted
The PumpFun app now also offers their own Gacha packs and TCG marketplace.
Guess who is powering them 👀
For many alts this post was spot on. E.g. $INJ looking good now, but indeed revisited an almost exact wick low. Would love to know the reasoning behind this post from @cburniske
The unfortunate truth is many alts are likely to revisit their 10/10 wick lows before this is all said and done.
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Sheesh, 99% of meme traders blowing up accounts while projects with fundamentals like solana:CARDSccUMFKoPRZxt5vt3ksUbxEFEcnZ3H2pd3dKxYjp are glaring buys where u can sit on your ass 🤷🏽
Collector Crypt entered the exclusive club of just 5 projects in crypto generating more than $1M USD in daily revenue.
Tether val: 500B
Hype val: 84B
Circle val: 22B
Pump val: 5.5B
solana:CARDSccUMFKoPRZxt5vt3ksUbxEFEcnZ3H2pd3dKxYjp val: 0.5B
The level of undervaluation here is getting kinda ridiculous at this point.
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leff retweeted
One challenge that persisted in crypto is that almost intentional way of communicating complexity publicly.
This among other things what leads to proliferation of scams as it’s easy for non experts to get lost in all the jargon and hard to distinguish what is real innovation.
Same is happening now - cryptographers sharing the possible risks in current schemes publicly without either explaining that other solutions are already in the works or giving historic context that cryptography has been evolving over past 50 years and has advanced every time to get ahead of found issues.
Leaders in the space must uplevel comms to explain things simpler and bring pragmatic solutions to market.
I think Justin Drake's latest alarmism/vagueposting is going to do a ton of damage in multiple ways. It's basically a huge self-own for their own advocacy work on quantum stuff.
Threats from quantum/AI are real, and teams throughout this industry are making considered decisions about how to respond to those risks in a practical way, and to help their users navigate the uncertainty.
Some of those teams have really good cryptographers with an excellent grasp on the decisions they can make, others have to take their cues from trusted experts. There are so many dimensions to optimize along! And due to the complexity involved, it's almost impossible to explain this stuff to non-cryptographers.
Experts have to be cognizant of all this, and of their responsibility to be levelheaded.
After the fog clears up and people learn from their cryptographer friends what is actually going on, they're going to discover this was (at best) an unintentional marketing stunt and a lot of trust will be lost. And nobody will really know what to do...
This is a shame, because they are directionally correct. It actually meant something when they sounded the alarm before. They've just gradually descended into unhinged predictions without feedback to discourage it.
Can anyone, I mean seriously anyone, justify this debacle? It permanently colors all the legitimate concerns/predictions about classical crypto going forward. By their own admission, there was no new information that drove this. I think Justin Drake should explain how he thought this was the right approach, even if he genuinely believed what he was saying.
Baffling.
leff retweeted
The biggest mistake you can make as secular winners emerge in crypto is overtrading.
Watching every tick may have made sense in the era of worthless coins and narrative-driven rotations.
It does not when leaders are compounding and ascending the S curve.
Owning > Trading.
