Monero appears to be in the midst of a successful 51% attack. The privacy-focused blockchain, launched in 2014 and long targeted by governments and 3-letters agencies, is already banned from most major centralized exchanges. The Qubic mining pool has been amassing hashrate for months and now controls a majority of the network. A major chain reorganization was detected this morning. With its current dominance, Qubic can rewrite the blockchain, enable double-spending, and censor any transaction. Sustaining this attack is estimated to cost $75 million per day. While potentially lucrative, it threatens to destroy confidence in the network almost overnight. Other miners are left with no incentive to continue, as Qubic can simply orphan any competing blocks, effectively becoming the sole miner. In effect, a $300 million market-cap chain is taking over a $6 billion one. Monero’s options for recovery are limited, and a full takeover is now possible and even likely. So far, XMR has dropped only 13%.

Asmongold and Elon debate real ID.

I am thrilled to announce that I am joining @nakamoto as VP of Investor Relations. I believe that we are living through a once-in-a-lifetime integration of Bitcoin into financial markets. Bitcoin Treasury companies have emerged as a surprising but in retrospect obvious vehicle for global capital to flow into Bitcoin at scale. @DavidFBailey and UTXO recognized this early and built tremendous expertise creating numerous Treasury companies globally. That being said, most investors do not yet understand why these companies exist nor why they matter. I get to help tell that story to capital markets via my new role with Nakamoto and I couldn't be more excited. I also want to deeply thank the Swan team and @coryswan for the last 4.5 years - they were both incredible and life changing. My reflections on Swan deserve their own thread (and will get one). But for now- thank you, and here's to the next chapter!