Very cool research from the Grayscale team: Bitcoin’s one-year realized volatility is 43%, down from a 10-year average of 64% and 81% five years ago. That’s now lower than 19% of S&P 500 constituents.

Here I am, a millennial manager raised by people who said “figure it out” who’s now leading a group of people who need step by step instructions for the simplest of task

Breaking: Michael Burry just doubled down on his shorts He: • Added to Micron $MU shorts • Added to Nebius $NBIS shorts • Added to Semiconductor ETF $SOXX shorts • Added to Palantir $PLTR shorts • Bought more QXO $QXO • Bought more Build-A-Bear $BBW • Bought more Sprouts Farmers Market $SFM • Bought more Birkenstock $BIRK • Bought more MercadoLibre $MELI Burry said "I find the prices offered by the market rather attractive. All these positions are full positions for me now." per his Substack

Skew /// Private for now.

Being older than 30 and still in crypto is crazy work

Announcing Centaur 2.0! Centaur is frontier, agentic infrastructure that you own. Centaur is like Claude Tag, but open source and on steroids. Centaur 2.0 can connect to everything you have access to, and can reason over it next to where you work, either in Slack, Discord, Teams or in your local Codex or Claude Code via an MCP. But context isn't useful if it can be accessed by anyone, so we rebuilt Centaur from the ground up for security. Centaur obviously doesn't have access to secrets because we're leveraging egress proxies. Centaur 2.0 takes that a step further enabling administrators to configure who can access what from where. This means that Centaur can have access to private information that you normally wouldn't feel comfortable giving it access to (e.g. DMs or sensitive channels and docs) but only expose it to authorized principals. It also means you can add Centaur to external channels and leverage it as a virtual colleague that doesn't live only in your Slack, for example, but also your Slack Connect channels! This is extremely powerful as we start moving to a world where agents cross organizational boundaries. Also in case anyone's wondering, yes we rewrote it in Rust! Centaur is now way way more stable at durably executing threads, and its workflow engine is now based on Absurd. We have been operating Centaur since January, officially launched and Open Sourced it in May, and now we're full speed towards making it the #1 open source agentic infrastructure. To succeed at that, I'm thrilled to welcome @mslipper to the @paradigm team who will be leading all our Applied AI work, while continuing to maintain and extend Iron Proxy as the leading secure secret access for agents. Welcome Matt, it's an honor after all these years of knowing you! Read the full blogpost below, and apply to join our team!