Amid reports that Kevin Warsh could be considered for Chair of the U.S. Federal Reserve, his public comments on Bitcoin stand out as unusually open for a central banking figure. Key points from Warsh’s remarks: • Bitcoin does not inherently undermine the Fed and may help discipline monetary policy • BTC does not concern him from a regulatory perspective • Bitcoin can function as a store of value, often compared to gold, but not as a replacement for the U.S. dollar • Warsh first encountered Bitcoin in 2011 after reading the whitepaper and later acknowledged underestimating its impact • Bitcoin serves as a market signal for policymakers, highlighting where economic policy may be misaligned • BTC can introduce market discipline and expose structural weaknesses in monetary and fiscal policy • He has described Bitcoin as a kind of “market policeman,” providing feedback through price movements • At its core, Bitcoin is software rather than a traditional currency • Technology is morally neutral and can be used for both positive and negative purposes • For younger generations, Bitcoin may function as “new gold” 🥇

📊 Mapping today’s dominant market narratives In Web3, narratives evolve quickly as attention rotates. Looking at current sentiment, this is how the narrative stack appears to be forming: 🥇 Top tier: Privacy, Consumer DeFi 🥈 Strong momentum: Prediction Markets, Reputation systems, Stablecoins 🥉 Secondary focus: AI, RWAs, L1/L2 ecosystems, Perpetual DEXs Interestingly, Memecoins and GameFi seem to be at the bottom of the stack for now. What’s your take, which narratives deserve a promotion, and which are overrated? 👇

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BlackRock’s 2026 Global Outlook: Key Takeaways 🔹 Stablecoins are scaling 💵 They are increasingly used for payments, settlement, and cross-border transfers. In some emerging markets, they may function as alternatives to local currencies, with implications for bank deposits and credit transmission. 🔹 Crypto’s role is shifting 🔗 The focus is moving from trading toward infrastructure: payments, liquidity, tokenization, and settlement. Crypto ETFs signal institutional acceptance, but the core development is at the infrastructure layer. 🔹 AI is the primary macro driver 🤖⚡ AI is capital-intensive and energy-constrained, with the potential to reshape productivity, investment patterns, and geopolitics at a scale comparable to major historical technological shifts. 🔹 Market concentration is structural 📊 Returns are increasingly driven by a small number of macro forces (AI, energy, geopolitics, and financial system changes) making “neutral” positioning and traditional diversification less effective. 🔹 Financial intermediation is evolving 🏦➡️🌐 Higher leverage, growth in private credit, tokenization, and stablecoins reflect adaptation to fiscal constraints, energy limits, and accelerated technological change.

🎄 Season’s greetings from the @PRIM3_VC team✨ As 2025 winds down, we want to extend our warmest thanks to our entire network - friends, partners, founders, and portfolio companies - who’ve been part of our incredible journey this year💙 This season, we wish you: ❄️ Peaceful holidays with loved ones 🎁 Bold ideas and successful launches 💫 And a bright 2026 filled with growth, resilience, and opportunity 🎅 Merry Christmas, Happy Holidays & a thriving New Year!

Backing projects isn’t about following hype, it’s about spotting teams that deliver real results. @xyro_io is doing exactly that. Here’s why we’re excited 👇

2025 has already minted 80 new tech unicorns! ▪️80 startups hit $1B this year, a rebound after 2 slow years ▪️AI leads, but unicorns span satellites, robotics, healthcare & fintech ▪️Most founded ~2018, hitting $1B by Series C; execution > hype ▪️Many outside Silicon Valley: Europe, India, East Asia ▪️This wave is powered by revenue, adoption & tech strength, not just hype

AI startups, take note: the recent investigation showing 73% of companies exaggerating capabilities is a wake-up call. Using APIs or existing models isn’t bad, but claiming them as your own tech is. 👉🏼 Lesson: be transparent. Show what’s built in-house vs. integrated. Integrity matters more than hype. Clear, honest startups stand out, attract investors, and survive longer in a crowded market. 🔗pub.towardsai.net/i-reverse-…

How much should founders pay themselves? Insights from the 2025 Founder Salary Report ▫️Average pay $98K, median $75K, 5% take $0 (down from 9% in 2024) ▫️31% set salaries by what the company can afford; 43% still feel underpaid ▫️Pay scales with fundraising: $100K raise → $60K salary, $10M raise → $157K ▫️Pay scales with revenue: <$100K revenue → $62K, $10M revenue → $163K ▫️Bootstrapped founders earn 40% less ($63K vs $110K VC-backed) ▫️AI founders’ salaries fell from $135K in 2024 to $90K in 2025 Full report: pilot.com/founder-salary-rep…

Elon Musk @elonmusk to young entrepreneurs: Focus on contribution, not money.

From Galaxy’s recent report, we can clearly see that by 2025, big buckets in crypto VC are losing their grip: smaller categories are taking slices, dead zones vanish, and deal flow spreads. Why founders should care: ▪️Specialization wins ▪️Niches get funded ▪️“Boring” areas like compliance & custody shine ▪️Overlooked sectors may produce the next winners ▪️Lower correlation risk means more room to carve your path Bottom Line: diversity = market maturity;Early-stage crypto is healthier galaxy.com/insights/research…

Coinbase outlined 9 themes they’re watching in 2026: ▫️RWA 2.0:Tokenizing everything, even perps on off-chain assets. ▫️Prop-AMM:AMMs that protect LPs from bots/HFT. ▫️Prediction Market Aggregator:Unifying ~$600M liquidity from Polymarket, Kalshi, etc. ▫️Next-Gen DeFi:Perps lending to earn yield while staying leveraged. ▫️Privacy:Rising demand for Zcash-style assets data-hiding tools. ▫️On-chain Rep Off-chain Data:Path to huge unsecured lending. ▫️DePIN for AI:Decentralized data for robotics/embodied AI. ▫️Proof of Humanity:Biometrics crypto proofs to detect bots. ▫️AI Agents:Writing contracts, auditing, monitoring protocols. Full breakdown: coinbase.com/en-au/blog/Coin…

Thank you to our Silver sponsors: BCW (@BCWWEB3), Bitsafe (@BitSafe_Finance), Bitwave (@BitwavePlatform),Black Manta Capital (@BlackMantaCap), Caladan (@caladanxyz), Cantina (@cantinaxyz) Cboe (@Cboe),CoinRoutes (@coinroutes), Copper (@koshmoney), Cygnet, D2X (@D2X_Official), Definitive Finance (@DefinitiveFi), Everstake (@everstake_pool), Finoa (@Finoa_io), Fordefi (@FordefiHQ), Haruko (@HarukoTech), Hypernative (@Hypernativelabs), IntellectEU (@IntellectEU), ML Tech (@MLTech), MPCH (@MPCH_Labs), Obligate (@obligatecom), PixelPlex (@pixelplexinc), Prim3 (@PRIM3_VC), STS Digital (@stsdigital_io), Teknos (@TeknosValuation), Tempest Markets, Twinstake (@twinstake_io), and 4M Group

Biggest Pre-Seed Trends (Q3 2025) by Carta: ▪️ Tiny rounds dominate: $965M across 5,660 deals, mostly SAFEs/notes. Most checks < $1M, but $1M rounds are bigger than last year. ▪️ Valuations steady/up: SAFE caps flat overall, rising for $2.5M rounds. Notes volatile but trending upward. ▪️ Location still wins: West Coast leads ~50% of pre-seed funding. Bay Area, NY, Boston, LA, D.C. remain dominant. ▪️ Healthtech: $319M YTD, top 3 by cash. Big rounds hit ~$35M median caps. ▪️ SAFEs rule: Notes still relevant in energy, biotech, med devices. Rates drifting down after 2025 Fed cuts. 👆TL;DR👆 Lots of tiny checks, few big ones. Stable valuations with selective upside. Healthtech leads. Source: carta.com/data/state-of-pre-…

Charlie Kirk didn't even believe in race.