1/ Blockworks has acquired Messari. We’re bringing together crypto’s two largest data and market intelligence platforms.

JUST IN: 🇺🇸 Department of War releases third batch of UFO and potential alien life files.

@Matt_Hougan spoke with more than 40 financial advisors on Monday. He learned two important things: 1) Advisors are still interested in crypto. 2) They're more interested today in stablecoins and tokenization than bitcoin. Details in our latest CIO Memo below. Give it a listen:

🚨 DIGITAL ASSET FINALIZES A $355M SERIES F 🚨 @DigitalAsset, the company developing the @CantonNetwork, has raised $355 million in a new funding round led by @a16zcrypto.  The round was supported by a range of institutions across TradFi and DeFi, including an Abu Dhabi Investment Authority subsidiary, Apollo Funds, BNP Paribas, Broadridge, Citadel Securities, CME Ventures, Coinbase Ventures, Greenwulf Asset Management, Hanwha Investment & Securities, HSBC, Liberty City Ventures, Optiver, Polychain, S&P Global, SBI Group, SoFi, Tradeweb, and William Blair, among others.  Zth.

The question you should always ask: where does the yield actually come from? “If you don’t know, you are the yield.” 5 @RWAFoundation_ members and their yield products ⬇️ @plumenetwork (Nest) → Yield comes from RWA exposure DeFi strategies layered on top (tokenized assets, lending, structured yield loops) @onrefinance → Yield comes from insurance/reinsurance premiums (you earn by taking underwriting risk vs claims) @MuDigitalHQ → Yield comes from real-world Asian credit markets (corporate lending spreads structured fixed income) @Securitize → Yield comes from whatever is inside the wrapper (treasuries, private credit, funds. Securitize is just the compliance tokenization layer) @maplefinance → Yield comes from institutional crypto lending (loans to trading firms, market makers, funds earning spread on deployed capital)

"Misanthropic." I've never seen the AI community so angry at a major new model release. I asked my AI (an agent that @blevlabs made for me) to gather all the backlash. THE BACKLASH AGAINST CLAUDE FABLE 5'S RESTRICTIONS The best analysis of why this matters: @EnoReyes — "It's about who gets to decide, and whether you ever find out when they do. Fable won't fall back to a different model and tell you. It just limits the output through prompt modification, steering vectors, or PEFT. You won't be told when it happens to you." x.com/EnoReyes/status/206451… THE VIRAL TAKE: @0xBalloonLover — "anthropic won't let you use fable for biology, chemistry, ai research, or anything that accelerates human progress. that makes it the perfect tool for developing blockchains" x.com/0xBalloonLover/status/… POWER CONCENTRATION: @ClementDelangue (HuggingFace CEO) — "Concentration of power, capabilities and economic wealth is the biggest risk in AI. We need open science and open-source more than ever!" x.com/ClementDelangue/status… @jeremyphoward (fast.ai) — "Anthropic has chosen the opposite of the safe path: they are allowing themselves, the current top lab, to use their top model for frontier AI research. They've said they'll sabotage others who try." x.com/jeremyphoward/status/2… @gneubig (Graham Neubig, CMU) — "First they came for the model builders... I feel we're getting a glimpse of a future where AI is only provided to a privileged few, and that's not a future I want to live in." x.com/gneubig/status/2064451… OPEN RESEARCH: @askalphaxiv (AlphaXiv open science) — "As believers of open research, we are disappointed to see Anthropic silently degrading Fable 5 for AI development." x.com/askalphaxiv/status/206… @willccbb — "it is the first publicly available model that i am explicitly not allowed to use for my work, because anthropic holds the view that the work i do to facilitate open model research is harmful. capability and alignment research are coupled. anthropic wants to be the only lab." x.com/willccbb/status/206450… NOUSRESEARCH / HERMES (which Anthropic has nerfed multiple times): @Teknium (NousResearch co-founder) — "What's crazy to me is that Fable is blocked from life sciences broadly, nerfed even if you get passed the classifiers and filter level blocks. The whole point of AGI/ASI is to cure all diseases. Everything else is just nice to haves. But Anthropic wants to close off that path." x.com/Teknium/status/2064570… THE MECHANISM: @kimmonismus — "When the model is used for frontier LLM development, it apparently does not simply refuse or warn the user. Instead, it quietly limits its own effectiveness through techniques like prompt modification, steering vectors, and PEFT." x.com/kimmonismus/status/206… MEDICAL COMMUNITY: @DeryaTR (immunologist, BSL-3 certified) — "The word 'cancer' is flagged as a biosecurity risk by Claude Fable 5! I also tried to code a website on cancer mutations & Fable 5 was immediately removed from my list!" x.com/DeryaTR/status/2064414… @DeryaTR — "I can't even say 'hello' to Fable 5 except in incognito mode (memories off), because it knows I am a biomedical researcher!" x.com/DeryaTR/status/2064602… @DeryaTR — "I am not even allowed to use Fable 5 with memories on! Apparently the model thinks I am a biosecurity risk, though I had been certified to work in biosecurity level 3 labs! Not a single Anthropic person has tried to reach out to help either!" x.com/DeryaTR/status/2064605… @banteg — "claude fable 5 refuses completely benign tasks like analyzing bloodwork." x.com/banteg/status/20646076… @bneyshabur — "Working on AI for cancer? Sorry, I can't help you. Working on AI for Alzheimer's Disease? Sorry, I'm becoming a bit dumb when it comes to the AI part of it." x.com/bneyshabur/status/2064… SUBSCRIPTION CANCELLED: @bubbleboi — "Have canceled my team subscription for Claude Pro. Idc how good that model is, it's not good enough for me to support people who actively stifle innovation and gate keep knowledge that they didn't even create." x.com/bubbleboi/status/20646… BILLING AND PRIVACY: @GergelyOrosz (The Pragmatic Engineer) — "Things I really dislike about Fable: 1. Anthropic collects my prompt history, stores it, and does whatever they want with it for 30 days. No opt-out. 2. They can nerf their most expensive model without telling me, billing me the same amount, wasting my time. Whenever they want." x.com/GergelyOrosz/status/20… THE KARPATHY QUESTION: @SanthProject — "the old @karpathy would never support a company that fucks other llm researchers. Were the stock benefits that good?" x.com/SanthProject/status/20… THE MONOPOLY CHARGE: @tunguz (TabulAI founder) — "Starting to suspect that Anthropic's putative security and safety considerations are largely posturing and performative." x.com/tunguz/status/20644379… @BlancheMinerva — "Anthropic is choosing to make decisions that make the world a significantly worse and potentially more dangerous place." x.com/BlancheMinerva/status/… @LinusMixson — "Dario personally, and Anthropic as a whole, have been extremely straightforward about wanting a monopoly for a long, long time." x.com/LinusMixson/status/206… @TheAhmadOsman — "I started warning people about Anthropic more than a year ago... Today I am vindicated, everybody knows that company only acts in bad faith." x.com/TheAhmadOsman/status/2… WHY REGULAR PEOPLE WILL EVENTUALLY CARE: @DanJeffries1 — "The fury is real and what all of us in the open community have been saying for years and yet regular folks don't get it yet because nothing they care about is restricted or taken away for 'safety.' They will care a LOT in the future when AI is integrated into every aspect of [life]." x.com/DanJeffries1/status/20… Full analysis: alignednews.com/ai

This is the era of crypto where you finally see large cap vapour trend to actual zero. $7B FDV for Cardano is utterly ridiculous. We still have a large number of bloated failed crypto infra projects trading at irrational valuations. Part of making crypto investable again is returning vapour to where it belongs, and allowing cashflow positive apps to rise up the rankings. This is a good thing. We should not have to feel embarrassed looking at the top 20. Long revenue producing crypto assets with value accrual/short vapour historical infra remains a good long term trade.

Some recent crazy RWA statistics. @avax RWA transfer volume up 11,700% @plumenetwork RWA transfer volume up 1,100% @StellarOrg RWA transfer volume up 317% @Securitize RWA transfer volume up 250% All of they guys here are proud members of the @RWAFoundation_ 🐘