CRYPTO’S BIGGEST THREAT HAS NEVER BEEN REGULATORS. IT’S US. People ask me sometimes: “Why do you spend so much time critiquing projects instead of hyping the ones you like?” Usually the question is worded with a lot less patience, but I get it. Here’s the truth. I wholeheartedly believe the scams, lies, hacks, and nonstop misinformation are destroying one of the greatest opportunities of our lifetime. Maybe permanently. Think about that for a second. This isn’t exaggeration. Look around. Freedom and self-sovereignty are shrinking everywhere. Twenty years ago, when I read 1984, I thought it was clever fiction. Today it feels like a warning label we ignored. And then came Satoshi Nakamoto. Bitcoin gave us a shot at rewriting the script, a chance to push back against a future of surveillance and control. But greed is threatening to ruin that chance. That’s why I don’t shut up about it. Imagine where Web3 could be if we didn’t have FTX, Luna, Celsius, BitConnect, or the graveyard of rug pulls. Each one didn’t just fail. They dragged the entire space down with them. Two steps forward. Two steps back. And let's be real. People warned us. Every single time. We just didn't care. Five percent yield on Bitcoin sounded too good to pass up. "Number go up" was the only narrative we cared about. So what did it cost? Half the world now thinks crypto is a scam. Can you blame them? I don't. Billions stolen in just the past five years. Probably double that if you count what never gets reported. And for every victim, a dozen friends and family hear about it. That's how you poison the reputation of an entire industry. And it isn't just the cartoon villains like SBF or Do Kwon. It's the culture we let form around them. Because here's the thing. Scams are obvious in hindsight. The manipulation is harder to see, but just as deadly. Paid shills masquerading as thought leaders. Big media hyping garbage tokens because clicks matter more than truth. Whales staging pumps with carefully timed rumors just to dump on retail. Words like "decentralized" and "community-owned" tossed around as marketing slogans while the entire system is centralized in practice. It's not bad luck. It's not isolated. It's by design. And the worst part? The very foundation is cracked. Most people don’t realize how much of the risk comes baked into the architecture itself. Ethereum’s ERC token model is fundamentally insecure. Approvals give infinite access. Wallets turn into ticking time bombs. Reentrancy attacks, approvals gone wrong, bridge exploits; it’s the same flaws on repeat. Over seventy percent of hacks in crypto history tie directly back to these design issues. Bridges? They’re not innovation, they’re duct tape. Wrapped tokens are IOUs pretending to be assets, and every time one gets hacked, users lose everything. Billions gone because the system never fixed its core flaws. So even if the scammers disappeared tomorrow, users would still be at risk simply by interacting with the infrastructure. That’s how broken it is. Stay with me here, because this is where it gets worse. Let’s talk memecoins. They’re painted as harmless fun. Inside jokes, goofy mascots, and the thrill of a lottery ticket. But peel it back. Ninety-nine percent of holders lose money. They suck capital away from builders who are actually innovating. They train new users to see Web3 as a casino, not a revolution. Think about that. Our biggest onramps today aren’t self-sovereign wallets or groundbreaking apps. They’re joke tokens. That’s the first impression most people get. Not digital freedom. Not ownership. Just gambling. And once that perception sticks, good luck shaking it. Ask anyone outside crypto what comes to mind. Nine times out of ten, it’s Doge, Pepe, or whatever animal coin is trending this week. Not infrastructure. Not empowerment. Memes. Losses. Noise. Memecoins aren’t culture. They’re corrosion. So when I critique projects, when I call out scams, it isn’t because I enjoy being negative. It’s because I actually care about where this goes. Web3 could change everything. But if greed, lies, and broken foundations keep running the show, that future never arrives. Do you see the cost now? More importantly... do you care?

Kevin O'Leary just admitted the ETH thesis he sold for 18 months was wrong His pitch: "You needed BTC and ETH, because they captured 97% of the entire volatility" Now: "We're wrong about ETH being standard...maybe it's too slow" Took him long enough to get it

MultiversX still down and preparing for a hard fork Sounds like they responded quickly enough to contain it and no funds credited on exchanges It’s bad but could have been so much worse and I don’t envy the team right now Still not the bottom for Web3

🚨 UPDATE: Same hacker has now hit @SingularityNET Minting 260M tokens which is ~13% of total supply Sitting on over $6M worth

🚨 Fetch.ai is being drained right now on Ethereum $2.01M so far $1.56M in FET pulled from the token converter with a valid authorizer signature Then NuNet's own deployer minted the same wallet $452K in NTX Nothing broke. Somebody just had the keys 🤨

The Bears scored 59 last Sunday Minnesota's won 6 straight at Soldier Field since 2020

Just further confirms my thoughts on the entirety of Web3 pretty much

Another custodial Bitcoin service just got drained and users are getting the PR runaround @blinkbtc paused services after an attacker emptied custodial accounts No dollar figure yet, just "a limited number" of accounts and "the large majority" secure 😏

Ethereum finality can be disrupted by 3 entities right now They control 38.8% of staked ETH and the threshold is 33% Lido: 23% Binance: 8.88% Kraken: 6.91% Three names clear it with room to spare Now run the same test on Bitcoin and it looks worse on paper: Foundry USA: 27.27% AntPool: 17.06% F2Pool: 16.96% That's past 51%. Same problem, right? Not even close because the difference is exit speed A Bitcoin miner who doesn't like what a pool is doing can redirect roughly 1% of hash rate in an estimated 29 seconds An Ethereum validator who wants out? 14.6 to 55.6 days stuck in the exit queue! Bitcoin's concentration is rented by the second and Ethereum's is locked in for weeks Before the replies start, the steelman is real Lido isn't a single company It spreads stake across independent node operators who can act separately @ARKInvest and @glassnode said it in their own study: 3 entities doesn't mean 3 companies control Ethereum That’s fair But the exit math doesn't care whose name is on the label If those operators ever want out, they're standing in the same queue as everybody else for weeks Since somebody will ask about Solana: Nakamoto coefficient of 19, up from 18 in March Except roughly 100% of measured infrastructure sits in commercial data centers and TeraSwitch alone hosts 30.23% of measured stake Oh, and let’s not forget that many of the largest nodes are actually under the same entity Making the true NC coefficient more in the range of 3-5 but don’t tell Bons that We've argued about decentralization for years with no agreed unit of measure Try this one: how fast can you leave and who actually controls the stake?

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Love Grok @bot but the new voice chat isn’t ready for iPhone

Someone just stole $3.5M by typing one number into Nostra's oracle 😏 The same protocol that broke this exact way 18 months ago The NSTR oracle read $0.006 and one transaction later $49.50 An 8,000x move Then the attacker borrowed $3.5M against it Real ETH, STRK, USDC, USDT, WBTC and DAI Here's the absurd part: NSTR's entire circulating market cap is under $600K Someone borrowed 6x more than every token in existence is worth A money market is supposed to know the maximum possible value of its own collateral Nostra's didn't $1.92M already bridged to Ethereum (234.57 ETH and 1.3M DAI confirmed by @PeckShieldAlert and CertiK) The protocol is fully paused No lending No borrowing No withdrawals No liquidations March 2025: Nostra's xSTRK/sSTRK feed inflated 3x Same protocol Same failure Eighteen months to fix it and it didn’t hold We keep calling these sophisticated attacks but when someone types a number and the protocol believes it TWICE Thats just negligence or an inside job

This is why crypto isn’t ready for mass adoption… So that recruiter who emailed you about your dream job? They could be a North Korean hacker And 7,000 people just learned this the hard way Japan's NPA, the FBI, and German intelligence all dropped the same warning today The operation they're hunting goes by WaterPlum Here's the playbook they ran for seven months: 1️⃣ Pose as a tech recruiter for real company and real role 2️⃣ Set up an interview and they are friendly and professional so you’d take the call 3️⃣ Send a "technical assessment" and ask you to run it at home 4️⃣ You run it and malware lands and credentials gone The damage: 30,000+ devices infected 7,000 crypto accounts drained $10.7M stolen 100+ countries Honestly the $10.7M is boring though because we see that every single day The reach is what should worry everyone 30,000 machines across 100 countries and every single entry point was someone wanting a job We audit contracts for weeks We argue about decentralization Meanwhile the real attack surface is a dev unzipping a file from a recruiter who seemed nice Moral of the story? Crypto is never going mainstream if we don’t tighten security measures across all surfaces The threat of losing everything didn’t exist until we started making money digital

Never thought I'd see Celsius call someone else a fraud 😂 The estate is suing @BitMEX for 6,360 BTC, $495M, over March 2020 liquidations

Self proclaimed "security pros" do more harm than good in Web3 Teaching people to navigate flawed tech just delays the inevitable 30 years of email and people still click bad links They won't stop here and consequences are far worse Fix the infrastructure or accept the losses

7.83M transactions on Circle's Arc in 24 hours USDC transfers in its entire life? 624,000 BlackRock, Visa, and DTCC signed up to validate the future of payments Instead they got a dog coin casino 😂