Ethereum’s ICO was priced under $25M FDV in 2014.
11 years later, valuations in crypto got obscene.
The 74th L1 raises multiple hundred million $ at a billion dollar valuation and every aave clone thinks it’s worth 9 figures.
This hubris will end most of crypto how we know it.
Study the fall of the Western Roman Empire.

Inflation Comes Down

Sat next to a guy at the gate in Dubai who looked like he was on his way to inspect a boiler.
Short-sleeve dress shirt. Pocket protector. Reading a Tom Clancy novel in paperback.
Figured he was a mid-level manager at a logistics firm or maybe a high school principal.
We got talking. I mentioned I love farming DeFi yield
He didn't ask "WAGMI?" or "What's the APY?"
He just chewed his gum.
"I made $9 million last year selling a PDF to DeFi protocols."
I laughed. "Sure. An NFT?"
"No," he said. "A PDF. A checklist."
This guy is 64. Spent 35 years as a Fire Marshal for high-rise buildings in Chicag

YouTube Adds Stablecoins

Crypto Remains Volatile

I’m impressed by the mental acrobatics needed to think that clipping is a new business model that web3 has invented.

Am I the only one who always picks express shipping even when I’m not in a rush just so my brain can tick it off the list faster?

ETH Up 7% Ahead Of FOMC

HYPE Down 8% On The Day