Background in Finance, Management and Banking, Consultant, Trying to become more and more Bankless.
Joined June 2019
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MetaDave retweeted
This is what I worry Europe will get negatively polarized into: an ideology taking pride in a neat, sanitized online environment free of evil corporate and fascist pathogens.
I hope European govs do not go this way, and instead take a Pirate Party approach of user empowerment.
First, what's wrong with the tweet I'm quoting:
The idea that there should be "no space" for something you dislike is fundamentally a totalitarian and anti-pluralistic impulse. It's incompatible with being in an environment that you do not fully control.
This is especially true for categories that are subjective and controversial, because you end up trying to fully remove things you think are pathogens, when other people have good faith disagreements, and because you give yourself the maximalist goal of not even giving them breathing room, you create conflict and end up building the machinery of technocratic authoritarianism to impose your victory in the conflict.
So sorry, if you want to be a free society, you have to bite the bullet that some people, somewhere, will be selling things that you consider dangerous and saying things you consider disinformation and vicious lies.
What is the goal to shoot for?
You want to create an environment where those things don't dominate. This is the problem with twitter today: not that it's a safe space where 1000 people talk to each other in a corner about how heritage americans are the master race and putin is good or whatever, but that that crap gets shoved in our face on a mass scale, and the algorithms actively favor it.
The right metaphor is not castles and walls, but biological - think, why European forests don't have tropical lizards.
Having incentives for social media platforms to have less of those things instead of more is fundamentally reasonable, @audreyt has talked about how Taiwan has done something similar.
You also want to do this in a way where it's clear what the underlying principle is, so it's not a vehicle for imposing arbitrary and frequently changing expert-consensus agendas.
You also want to empower users, rather than working against them. People want to see and buy good things instead of bad things. Often the problem is that competition is too difficult in the current market. I actually supported the USB-C standardization mandate; it created more interoperability and thus improved competition and convenience. I would support incentivizing social platforms to be more open, and to be more transparent (eg. my proposal to require algorithms to be continuously published with a 1-2 year delay, with zk-proofs to ensure that the algorithm being used in real time exactly equals the one that gets published later)
Being able to better identify what messages are coming from what communities is also good, though I don't support the direction of banning anonymity of individual posters, rather I would want to see more macro-scale analytics, eg. seeing what communities are most strongly saying and amplifying content that semantically matches a particular idea; this can be done in privacy-preserving ways.
There is a real opportunity to reaffirm freedom of speech in a unique and different way, that emphasizes pluralism and pushes against unbalanced attempts to manipulate the discourse by individual powerful actors. We want to do this, not go down the dark path of having something that claims to support fundamental rights but actually is not trusted by anyone to be anything other than the fundamental right to follow the footsteps of a few technocratic experts.
𝗡𝗢 space for cyberbullying.
𝗡𝗢 space for dangerous products.
𝗡𝗢 space for hate speech.
𝗡𝗢 space for scams.
𝗬𝗘𝗦. With the Digital Services Act, what is illegal offline remains illegal online.
🔗 link.europa.eu/gbRf9h
MetaDave retweeted
[ZachXBT says:]
The creditors were paid from crypto prices at the time of the FTX Nov 2022 bankruptcy and not at current prices which caused users to take massive losses if they held assets like SOL or BTC.
Illiquid investments worth more today are just a coincidence.
You clearly have no learned from your time spent in prison thus far and repeat the same misinformation like before
MetaDave retweeted
If you click the button circled in red, your computer is completely compromised.
No matter what the alert says.
You run the script, you die, the end.
If you clicked it before, disconnect your computer from the internet and secure your assets and protocol ASAP.
MetaDave retweeted
Don’t know who needs to hear this but the second you start seeking a regulatory moat for your chain at the expense of the competing chain you’re no better than the predatory TradFi incumbents we came here to defeat.
MetaDave retweeted
Ethereum is for shipping.
Here are 24 things the ecosystem launched, shipped, and scaled over the past few weeks.
0/ @RobinhoodApp is now onchain with @arbitrum, bringing Robinhood’s 25M+ retail users closer to Ethereum-powered finance.
1/ @base launched Base Pay and the @baseapp, making it easier than ever for millions to join the onchain economy built on Ethereum.
The app integrates with @farcaster_xyz and @zora, bringing together identity, payments, creativity and more in one onchain experience.
2/ Stablecoin supply on Ethereum, including L2s, surpassed $140B, nearly double what it was in January 2024.
3/ Ethereum turned 10 years old on July 30th at block number 23,032,825. The ecosystem hosted 140+ events across 6 continents to celebrate and @ethereumfndn hosted a livestream to welcome in the next decade.
4/ @rstormsf's trial began on July 14 and is ongoing. Privacy is normal, and writing code is not a crime.
5/ @Consensys published “The Industrialization of Trust”, a report framing Ethereum as the foundational infrastructure for global-scale applications that require programmable, verifiable trust, what they call “Trustware.”
6/ @ElectricCapital's report "Beyond Stablecoins: The Case for Ethereum" is aimed at institutional decision makers and advocates for ETH as a globally significant asset. Ethereum is for ETH.
7/ @focustree_app, a Web3 productivity app built on @Starknet, now serves 500K+ daily users. A sign of what’s possible when Ethereum scalability meets real-world utility. Ethereum is for apps.
8/ @boundlesshq launched its Mainnet Beta, bringing a permissionless ZK execution layer to Ethereum and kickstarting “The Signal,” a new path toward cross-chain interoperability.
9/ Google Cloud is integrating @selfxyz's proof-of-humanity zero-knowledge proofs (ZKPs), enabling privacy-preserving identity for AI and Web3. Another step toward a more human internet, built on open, verifiable infrastructure.
10/ @Fidelity published a report framing blockchains like Ethereum as emerging-market digital economies. Ethereum is for everyone.
11/ @talos_is, an AI agent designed to autonomously manage treasury decisions, launched on @arbitrum. AI agents are continuing to interact with onchain governance and capital. Ethereum is for AI.
12/ @0xprivacypools hit an all-time high of 300 ETH in the pools. Ethereum is for privacy.
13/ @TheEtherMachine launched with $1.5B committed to owning and managing ETH.
14/ @BitDigital_BTBT announced it has swapped its entire treasury into ETH, becoming a top public holder.
15/ @BitMNR became the largest public ETH holder, now holding 833,137 ETH.
16/ @eToro announced plans to tokenize U.S. stocks on Ethereum, bringing real-world assets onchain and expanding access to traditional markets through smart contracts.
17/ @eigencloud's Redistribution is now live, slashed funds can now be reused instead of burned. This unlocks more flexible, resilient incentives for apps built on Ethereum’s shared security.
18/ @PayPal now lets merchants accept crypto payments, including ETH, with instant conversion to PYUSD. They also recently enabled crypto for international payments. Ethereum is for adoption.
19/ ‘Built on Ethereum’ a documentary about everything built in the first 10 years of Ethereum was released. The film was created by @MetaMediaDAO, supported through @juiceboxETH & @PublicNouns. Ethereum is for builders.
20/ @MorphoLabs hit $2B on @base, the largest DeFi deployment on any Ethereum L2. Demand is increasing for scalable, yield-bearing apps onchain.
21/ @NeriteOrg launched Nerite protocol to bring streaming payments and yield earning with $USND to @arbitrum. Finance is becoming more flexible, accessible, and programmable on Ethereum.
22/ @ethereum_NYC announced an event week alongside @ETHGlobal New York, with core events on staking, privacy, and Ethereum research funding.
23/ $726.6M flowed into ETH ETFs on July 16, marking the highest single-day inflow of all time.
MetaDave retweeted
Apps, product launches, acquisitions and more…
Here are 28 things the Ethereum ecosystem got done over the last few weeks.
0/ @Shopify announced support for stablecoins on @base across their platform, giving millions of businesses in 175+ countries access to Ethereum-powered commerce.
1/ @fileverse launched dSheets, spreadsheets that can natively talk to and interact with smart contracts on Ethereum. dSheets lets teams pull data directly from Ethereum accounts and apps, run complex operations, and collaborate securely 🔐.
2/ Earnifi is a fintech app that makes it easy for anyone to get access to credit, and it’s now the #3 finance app in the US App Store. Powered by @OpacityNetwork and @eigencloud. Ethereum is for apps.
3/ Onchain social network @zora is now the 91st most popular social app in the US App Store. Ethereum is for creators earning onchain.
4/ @rstormf launched a new fundraiser to help pay costs for his upcoming trial in July. The @ethereumfndn donated $500K and is matching another $750K.
Privacy is normal, and writing code is not a crime.
5/ @shibuyafilm launched a crowdfunding platform for creators, where 5 filmmakers funded their work by minting individual frames of each episode. The ability to mint has ended but donations on the main website are still open. Ethereum is for culture.
6/ Decentralized exchanges (DEXs) built on Ethereum continue to grow their influence: recently, 25% of spot trades on centralized exchanges originated from DEXs, an all-time high.
7/ @Etherealize_io published “The Bull Case for ETH”, a new report aimed at institutional investors advocating for ETH as a globally significant asset. Ethereum is for ETH.
8/ @eigencloud introduced EigenCloud, a developer platform extending Ethereum-backed trust & verifiability to any app, on or offchain.
9/ @noicedotso launched on @farcaster_xyz, enabling likes, replies and DMs to translate to monetary value. In 6 weeks the team saw 1.6M+ tips worth $91K+. Ethereum is for microtransactions.
10/ @ethereumfndn announced a reorg of their protocol R&D efforts, with a near term focus on three strategic goals: scale L1, scale blobs for L2s, and improve UX.
11/ @sharplink announced a $425M private placement for an Ethereum treasury strategy, led by @Consensys, with plans to purchase ETH as its primary treasury reserve asset.
12/ @jpmorgan announced plans to create JPMD, a USD deposit token for institutional clients to move funds on @base. Ethereum is for institutions.
13/ @zkemail announced a new Registry tool enabling more powerful zero-knowledge features, which will help anyone who wants to selectively disclose private info or verify financial information.
14/ @Uniswap v4 surpassed $84B in swap volume ~5 months after launch.
15/ Automated market maker (AMM), @EkuboProtocol crossed $1B+ in cumulative trading volume.
16/ @stripe acquired @privy_io, a web3 wallet infrastructure company, bringing crypto & fiat closer together to change how value moves through the Internet.
17/ The BUIDL fund paid out $10M+ in dividends on Ethereum in May, the highest monthly total to date. Launched on @Securitize, secured by Ethereum.
18/ Popular lending app, @eulerfinance grew deposits to $2.28B in 3 months and active loans to ~$1.1B, an all-time high.
19/ @AgoraGovernance shipped gasless DAO voting and social vote sharing to make the DAO experience more social and economical. Ethereum is for DAOs.
20/ @MorphoLabs, powering onchain lending, announced “Morpho V2”, a platform designed to meet the needs of DeFi’s sophisticated & institutional participants. Ethereum is for DeFi.
21/ @zksync introduced Prividium, an enterprise-grade blockchain platform for finance. The first institutional partner, @DeutscheBank, is already building on the platform with @Memento_Bc.
22/ @Scroll_ZKP, a zkEVM rollup, achieved a 1-second block time, making the network 3x faster.
23/ Timeboost, a mechanism allowing MEV searchers to bid for priority transaction inclusion on @arbitrum, collected $1.8M in total fees after only 10 weeks of being live.
24/ @StarkWareLtd launched next-gen prover, S-two, enabling client-side proving for everyday devices.
25/ Ethereum Smart Account usage surged. Safe accounts processed 28M transactions in May, 40% more than the previous all-time high.
26/ The ecosystem gathered in Czechia for @ETHPrague and @ETHGlobal Prague, where a combined 600+ hackers and 1000+ attendees came together to learn and build on Ethereum.
27/ @EdgeEsmeralda, a month-long popup village by Esme Institute & @joinedgecity, convened in California. The event brought together people at the frontiers of tech, science, and social innovation, and created an environment where new ideas & systems—like those built on Ethereum—come to life.
MetaDave retweeted
I'm thinking about a potential exemption from registration that would allow firms to use DLT to issue, trade, and settle securities. A sketch of the idea is here: sec.gov/newsroom/speeches-st…
MetaDave retweeted
For 2025 we need Fusaka on L1 with PeerDAS, ideally with 48/72 blob target/limit
Let's aim to get a Fusaka testnet with these blob parameters running the day after Pectra goes live.
MetaDave retweeted
We, the Ethereum Cypherpunks, act on principles. We fucking care about privacy. We fucking care about security. We fucking care about censorship resistance. And we will always fucking defend these core principles. I wrote the Ethereum Cypherpunk Manifesto because this shit matters. If you're butthurt, go touch some grass and get a reality check. We, the Ethereum Cypherpunks, stand united in our pursuit of a more private, secure, and censorship-resistant future. Like it or not.
hackmd.io/@pcaversaccio/the-…
MetaDave retweeted
EF Treasury has deployed:
- 10,000 ETH into Spark
- 10,000 ETH into Aave Prime
- 20,800 ETH into Aave Core
- 4,200 ETH into Compound
We're grateful for the entire Ethereum security community that has worked diligently to make Ethereum DeFi secure and usable!
MetaDave retweeted
Bye, bye SAB 121! It's not been fun: SEC.gov | Staff Accounting Bulletin No. 122
MetaDave retweeted
Regulators should be enforcing the law, not trying to bypass congress and create their own laws.
The constitution says only congress shall make the laws! So de facto these actions were unconstitutional and illegal. I look forward to a judge weighing in on this.
We finally got the unredacted OCP 2.0 letters from @FDICgov. It took a Court order but you can now read them for yourself below. They show a coordinated effort to stop a wide variety of crypto activity — everything from basic BTC transactions to more complex offerings. 1/3
MetaDave retweeted
We finally got the unredacted OCP 2.0 letters from @FDICgov. It took a Court order but you can now read them for yourself below. They show a coordinated effort to stop a wide variety of crypto activity — everything from basic BTC transactions to more complex offerings. 1/3
MetaDave retweeted
The soul of crypto feels fucking gone in 2024. We've let "training wheels" for L2s become an excuse for dragging ass on decentralisation, KYC is fucking everywhere, and way too many of us just accept it (fucking stop!). Builders are chasing compliance over privacy, and most new apps are just gambling (fine, whatever), but they're not driving real, meaningful change. The fire is missing—the bold, principles-based building that's supposed to challenge the world. Instead, most people are just puppets, chasing short-term hype instead of breaking the system. Don't be a fucking puppet.
MetaDave retweeted
When people (especially very well financed and politically connected people) abuse the legal system to bully their critics, I like shining a flashlight. I repeat Matt’s accusations that Prometheum is a scam and has engaged in corruption. Feel free to sue me for defamation. I’d love to get a chance to go through detailed discovery of every communication Prometheum ever had with their regulators, politicians, and other gov officials.
I was drawn to crypto partly to escape a world where the winning companies are determined largely by who pays the biggest bribe (or the legal version of lobbying and revolving door hiring of regulators.) Hard to find a more egregious example of corruption in crypto on this axis than Prometheum.
Gensler's pet crypto firm Prometheum sued crypto guy @matt_blumberg—who has <1000 followers—for calling them "scammers"
Per anti-SLAPP motion, Prometheum directed legal threats at the guy's mom & demanded he praise their "innovative" biz model:
MetaDave retweeted
Re: the letters that show Operation Chokepoint 2.0 wasn't just some crypto conspiracy theory. @FDICgov is still hiding behind way overbroad redactions. And they still haven't produced more than a fraction of them. But we finally got the pause letters: downloads.ctfassets.net/c5bd… 1/3
MetaDave retweeted
Hello friends!
We are trying to get in touch with @zachxbt to give him a grant for all his awesome work.
I can't get him to reply to my DM though....
Can you guys help? Maybe like/retweet this? dm him for me?
appreciate it v much