Profile needed a summer refresh. 💦

There's a lot of confusion about the recently patched Zcash bug. Here's how to actually understand it. If the bug had been exploited before the patch (very unlikely it was), it would have looked like the shielded pool getting drained. Whoever minted the counterfeit shielded ZEC would want to sell fast, before anyone else found the same bug. And remember, the market for ZEC is almost entirely transparent ZEC, not shielded. You can't dump freshly minted shielded ZEC on Binance or Coinbase without unshielding it first. The losers in that scenario are shielded holders who sit still. The transparent portion of Zcash is fully visible, so it's trivial to enforce that transparent ZEC never exceeds max supply. If you try to unshield more than the cap, you'll get stopped at the door. So if you hold transparent ZEC (anyone trading, on an exchange, or doing price discovery on ZEC) there's no marginal effect on you. The loss falls entirely on shielded holders. The team's next step is a new turnstile and a fresh shielded pool in the coming upgrade, which will confirm the shielded pool was not inflated. Think of it as taking headcount at the end of the field trip--that will make sure no extra kids snuck onto the bus. But while AI found this bug, AI will also deliver the fix for the whole category: formal verification. I'm very bullish on this as the path to harden all software across the industry. Formally verified cryptography can't have implementation bugs by construction. Right now AI is surfacing vulnerabilities across all our software--browsers, OSes, and blockchains are no exception. We're in the awkward adolescence where every wart is getting magnified and put on full display. But formally verified software is the only path forward for mission-critical software, and Zcash has put it front and center on their roadmap to deliver. Privacy is too important not to. (Dragonfly holds $ZEC and continues to. I'm personally an investor in ZODL.)

The digital revolution is upon us, and it has presented a clear opportunity to support small businesses, generate wealth, spur innovation, and support younger Americans who want to be part of this revolution. And this digital revolution is happening with us or without us—we have a responsibility to regulate it to create rules of the road. That is why I’ve been at the table. I’ve been in negotiations for over nine months, working toward regulating digital assets in a way that protects consumers and reduces the risks of deposit flight and deceptive marketing. I have negotiated in good faith with colleagues on both sides of the aisle willing to meet this critical moment. I’ve worked to make this bill better. Let me be very clear: my vote today is a vote to keep working in good faith. It does not mean I will be voting for the passage of the CLARITY Act on the floor. We still have work to do. We need to find a workable way to address law enforcement’s concerns about financial crimes. I am a former prosecutor and know how important that is. We also need to include an agreement on ethics—that would apply not just to the President and Vice President but to all of us. The American people—especially my constituents—expect that from us. I will keep working with my colleagues to get this done. Americans—from every background and every community—deserve to benefit financially from this digital revolution and be protected from the risks that come with it. If we don’t act, we will be left behind. I won’t let that happen.

Today, the Senate Banking Committee will vote to advance the CLARITY Act. I am proud of the countless hours that my team, Treasury, SEC, CFTC, and Senate Banking staff and members have put into shaping this product. On every issue, we put forward real solutions to address stakeholder concerns or Democrat demands. It often required us to get creative; sometimes, it required us to get uncomfortable. But we did it in the spirit of bipartisanship. Make no mistake: Whether today’s vote is partisan or bipartisan will depend entirely on politics, not policy. The CLARITY Act is not only good policy, it is necessary policy for the United States to maintain our leadership position in global financial markets. Not to mention the robust consumer protections and anti-illicit finance provisions it contains, without which, there are none. This morning’s vote will reveal whether Democrats have genuinely moved on from their war on crypto, or whether they remain cowed by Elizabeth Warren. The choice is theirs.

With limited time and a lot to cover at @consensus2026, I was only able to scratch the surface of the new enterprise-grade features and app experiences that enable LOCs at scale. Next week, I plan to dive deeper into the details, use cases, & answer questions from the community.

Very excited about this Bullish partnership.

$ZEC is now available to trade on Robinhood Crypto, including NY.

🧵What if you could prove you're good for $100K without moving a single dollar? That's the idea behind Anvil Protocol, a project rethinking how trust, credit, and collateral work on-chain. We sat down with @m_at_anvil, Head of the @anvil_xyz, to find out more 👉 buff.ly/JKrkL0i

Excellent report for understanding both the importance and value proposition for Zcash. If you haven’t paid attention to it before, you should now. 👌🏼

Buy now, pay later conference sponsorships are now live with @Coindesk & @consensus2026 Forged by Anvil onchain letters of credit 🛠️

If you want to understand the real mechanics behind crypto payments, this is a great read. It covers settlement risk, why crypto cards are a temporary solution, and how @FlexaHQ’s collateral model helps merchants accept crypto instantly. Dive in 👇

Congrats to one of our earliest partners. 🔥

Alpha loading… 👀 New @cryptosmiff interviews with @jswihart & @ccamrobertson dropping soon.

I joined Mirela Ciobanu at @ThePaypers to discuss how Flexa continues to lead in advancing digital asset payments. We covered the importance of merchant payment optionality, and why full collateralization enabled by Amp, the world's only neutral collateral token purpose-built for payments, remains foundational. Interview here: thepaypers.com/crypto-web3-a…

The Anvil Flywheel 🛠️ Crypto natives don’t need onchain credit for IRL purchases Introducing onchain credit. Powered by Anvil

Denver-bound! 🏔️ Anvil is dropping into @EthereumDenver 📍 Cause if you believe in somΞTHing, believe in forging the future of credit & onchain buy now pay later 🛠️

Zcash good Zooko good Adding hybrid proof of stake good

This is spot on. Alternatively, they could have just scrolled for 2 minutes on @lulumeservey posts and seen why this was an unforced error.

Hey @RobinhoodApp @vladtenev can you please do the cypherpunks and lovers of private digital money a solid and fix the fact that I still can’t purchase $ZEC ZCash on your platform? If you need a shill, @mert has it covered.

📣 Important update: SPEDN is shutting down on March 31. 📣 For almost seven years, SPEDN has shown the world how easy it is to spend digital assets with Flexa. Today, with more and more businesses using Flexa to accept payments from any app, and with faster self-custody payments in apps like @baseapp, it’s time to say good-bye to SPEDN.