gonna be pretty crazy if jito revitalizes solana from the bottom two cycles in a row

am long $SPCX @ $175 because elon becoming the world's first trillionaire is the most entertaining outcome

A viral new website lets users pay strangers to do whatever they want for money The site allows users to make ‘bounties’ which people complete for monetary rewards, including getting a forehead tattoo, applying for jobs, or buying strangers’ groceries

Morpho Association has raised $175M to build the open credit network for the world. Co-led by @paradigm, @a16zcrypto, @RibbitCapital with strategic participation from @apolloglobal, @vaneck_us, @circle_ventures, and @Ledger @Cathayinnov. The round also included participation from @variantfund, @wmt_ventures, @preludexyz, @IOSGVC, @HashKey_Capital, @sbigroup, @Bpifrance, @mirana, @bamazizimesh, NJJ Capital and 10 other strategic partners. The funding will help accelerate Morpho's position as the foundation for onchain credit.

INCIDENT UPDATE: Last night, June 8, the H token was hit by a coordinated attack across Ethereum and BSC. While we’re still investigating this incident, we want to be transparent with our community about what happened. As of right now, ~$36M has been stolen across both chains and dumped. This was a result of a breach that happened after an employee’s laptop was compromised. Three of six Gnosis Safe owner keys controlling the Hyperlane bridge ProxyAdmin were compromised. The attacker used these to transfer ProxyAdmin ownership to their own wallet, then upgraded the bridge contract to a malicious implementation and swept ~141.2M H in a single transaction. Three of five BSC Safe owner keys were also compromised. The attacker performed the same ProxyAdmin seizure on BSC, deployed a malicious implementation with an unlimited mint function, and minted 200,000,005 H in two tranches directly to their wallet. We’ve now halted all deposits and withdrawals to the affected bridges and are working with all related parties, including exchanges, to minimize the damage. Further to our internal investigation, we’re also working closely with the police to investigate this incident and recover some of the stolen funds. People in this community worked hard for what they hold here, and we feel the weight of that. We want to apologize for what has happened and thank you for your patience, messages, and for sticking with us.

the launchpad wars are over pump fun won

Fair critique, but I think it's the wrong way to judge Venice at this stage. Crypto has become weird around value accrual. A lot of holders have been burned by tokens with no real business behind them, so everyone wants hard value accrual immediately. Then Hyperliquid comes along and returns a huge share of revenue to holders, and suddenly that becomes the benchmark. But Hyperliquid is the exception, not the rule. Most companies at Venice's stage should not be returning meaningful capital to anyone, whether equity holders or token holders. They should be reinvesting into growth. If Venice were burning a huge chunk of revenue today, I'd honestly think that was worse capital allocation, not better. So yes, current burns are small. I agree. But I don't think the burn is supposed to be the demand source today. It's more of a signal that VVV is economically tied to the platform, and it gives the market an on-chain proxy for new paid sub adds, since each tier triggers a specific dollar burn that anyone can see. The alignment piece matters too. Venice the company sits on tens of millions of VVV in treasury, so it benefits directly from VVV appreciation. Erik's history points the same direction. At ShapeShift, he took a shareholder-owned company and pushed it toward a token/community-owned model, with FOX holders governing platform economics and shareholders receiving FOX with no special privileges. And with Venice, he has explicitly said he wants to burn every last VVV token. That does not make VVV equity, but it does show he's oriented toward token holders, not against them. So I'd separate the critique into two questions. Is current value accrual enough to support the token by itself? No. Agreed. Is VVV economically linked to the platform in a way that can matter a lot more if Venice keeps scaling? I think yes. The bet is on the trajectory, not today's burn rate. If we're back here in 12-18 months and Venice has scaled revenue meaningfully but burns still haven't grown, the critique gets a lot stronger. But that isn't today. Today, I'd rather see Venice reinvest aggressively into growth while keeping the token tied to that growth than crank up burns too early. x.com/JonShapeShift/status/2…

I wrapped 3 weeks across Singapore, Hong Kong, Tokyo, and Seoul. 50 in-person meetings with regulators, fintechs, allocators, and major institutions. A few things stood out: → Asia sits on both ends of the risk curve at once: some of the most aggressive, risk-tolerant players in crypto on one side, and highly institutional actors waiting for regulatory clarity on the other. → Demand for US financial products is real and growing. → Recent hacks rattled some players, but the appetite for onchain finance hasn't gone away. It's maturing. → There's no substitute for being in the room. Asia is the deepest onchain liquidity hub in the world right now, and we've been seriously under-investing here. That changes now.

10/10 bid 11/05 sell